Author: FX
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USD/CHF breaks under 50-day SMA at 0.8020, closing below 0.8000 with momentum favoring further downside.Bears eye 0.7950 and July 23 low at 0.7911, with path open toward year-to-date trough at 0.7872.Buyers must reclaim 0.8000 and 50-day SMA to challenge resistance at 0.8047 and 100-day SMA at 0.8122.The USD/CHF extended its losses on Friday, tumbling below the 50-day Simple Moving Average (SMA) at 0.8020. The release of a worse than expected US Nonfarm Payrolls report, cemented the case for a Fed rate cut at the September meeting. At the time of writing, the pair trades at 0.7980, down 0.94%.USD/CHF Price Forecast:…
Forex markets swung like a mood ring: dollar stumbled, pound whiplashed, loonie & yen tanked, while the euro & franc stole spotlight. Source link
The Euro climbs as Nonfarm Payrolls show weak hiring, rising unemployment, and steady wage growth in August.US 2-year Treasury yield tumbles as markets fully price in September rate cut; DXY drops 0.70% to 97.57.Traders eye US CPI next week to confirm disinflation trend, while EU GDP Q2 revised slightly higher.The EUR/USD advanced during the North American session after the latest employment report in the United Sates (US) showed the labor market is deteriorating. Consequently, investors ditched the US Dollar as the first rate cut by the Federal Reserve in 2025 looms. The pair trades at 1.1714, up by 0.50%.US jobs…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: investingLive is not an investment advisor, investingLive provides references and…
The Dow Jones backslid on Friday, falling back below 45,500.NFP job gains came in well below expectations, adding further bets to Fed rate cuts.A steepening decline in job creation has gone too far, overshooting market hopes for rate cuts and reigniting recessionary concerns.The Dow Jones Industrial Average (DJIA) sank on Friday, falling nearly 500 points at its lowest after United States (US) Nonfarm Payrolls (NFP) data showed the US added far fewer jobs than expected, pinning expectations of a Federal Reserve (Fed) interest rate cut on September 17.The latest NFP jobs report showed the US added just 22K net new…
There was something of a random walk down Wall Street today but it ended in the red-ink districts. The jobs report was poor and initially the market took that as good news due to more rate cuts being priced in. Later, that sentiment reversed and recession fears hit, leading to a sizeable swing to the downside. Late in the day though, the bidders showed up as they have been all week and lifted the S&P 500 to only a moderate loss.The rate-sensitive Russell 2000 finished higher on a lift from financials while the Nasdaq was flat.Closing changes on the day:S&P…
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: investingLive is not an investment advisor, investingLive provides references and…
The Canadian Dollar tumbled 0.65% against the US Dollar on Friday.Worse-than-expected NFP jobs data sent investors piling into the Greenback safe haven.Canadian jobs data did no favors for the Loonie, showing a sharp contraction in the labor market.The Canadian Dollar (CAD) soured on Friday, skidding into a fifth consecutive losing day against the US Dollar (USD) after employment figures from both Canada and the United States (US) showed both countries are failing to absorb the negative impacts of US President Donald Trump’s trade war with the rest of the world.Employment data for both Canada and the US soured on Friday…
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee warned on Friday that while sinking employment data is typically a cause for interest rate cuts, still-high inflation data is still cause for concern, and key Fed officials may not be fully sold on a September rate cut.Key highlightsOpen to criticism on Fed decision-making.Totally opposed to taking away Fed independence.Strange to call own move to Fed from CEA after 12 years “sinister” (in reference to Stephen Miran’s shift to the Fed board).Anyone who joins FOMC will take job seriously.Hiring could be artifically lower due to immigration.Still undecided on September rate decision.If…