Author: FX
US NFP labor report eases expectations of a Fed rate cut, pushing XAU/USD prices lower.USD receives a boost from easing US-China tensions and better-than-expected US employment data on Friday, capping Gold gains.Gold prices threaten channel support with psychological resistance at $3,350.Gold prices are extending losses against the US Dollar (USD) on Friday, falling below prior psychological support, now resistance, at $3,350, after the US Nonfarm Payrolls (NFP) report showed a resilient labour market.After a week of data suggesting a softening US labor market, the Nonfarm Payrolls (NFP) report for May surprised to the upside. The US economy added 139,000 new…
S&P 500 reaches 6,000 for the first time in 15 weeks.May NFP shows job gains at 139K, above the 130K consensus.AVGO, DOCU stocks shed weight on earnings guidance.Musk and Trump patch up their differences from Thursday’s war of words.The S&P 500 has dashed up above 6,000 on Friday morning after the May Nonfarm Payrolls (NFP) print came in above consensus, dispelling worries that Wednesday’s ADP Employment Change disaster would carry over into the more trust NFP data. This was the first time since February 26 that the S&P 500 reached that level.Additionally, Tesla (TSLA) CEO Elon Musk sought to patch…
FuelCell Energy came out with a quarterly loss of $1.79 per share versus the Zacks Consensus Estimate of a loss of $1.51. This compares to loss of $2.10 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -18.54%. A quarter ago, it was expected that this fuel cell power plant maker would post a loss of $1.52 per share when it actually produced a loss of $1.42, delivering a surprise of 6.58%.Over the last four quarters, the company has surpassed consensus EPS estimates two times.FuelCell Energy, which belongs to the…
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GBP/JPY rises above the 20-day Simple Moving Average (SMA), providing support at 194.21.The Relative Strength Index (RSI) is nearing 60, suggesting that momentum remains in favour of the bulls.A decisive break above 195.00 could push prices back to 196.00The Japanese Yen (JPY) continues to weaken against the British Pound (GBP) on Friday, with the GBP/JPY pair edging up to near 195.20 at the time of writing. This move marks a continuation of bullish momentum that began earlier in the week, as the pair broke above the 20-day Simple Moving Average (SMA), signaling a shift in near-term sentiment. Despite this strength, GBP/JPY…
Jun. 06, 2025 8:32 AM ETBy: Liz Kiesche, SA News EditorDimitri OtisMay Nonfarm payrolls: +139K vs. +126K consensus and +147K prior (revised from +177K), according to data released by the U.S. Bureau of Labor Statistics on Friday. Unemployment rate: 4.2% vs. 4.2% consensus and 4.2% prior. Developing… check back for updates. Source link
To receive timely updates and exclusive alerts, join our free Telegram channel:S&P 500 Technical Analysis: Elon vs. Trump Feud Won’t Shake Bulls Just YetDespite the recent headline-grabbing feud between Elon Musk and Donald Trump, the S&P 500 E-mini futures have held their ground firmly. In a market where sentiment often shifts rapidly due to external noise, the resilience demonstrated by bulls is noteworthy.Technical analysts have observed the S&P 500 futures respecting an extended downward channel, adjusted to align precisely with recent price wicks. Channels can vary depending on algorithms and analyst approaches—some take openings, others prefer extreme wicks—but the current…
USD/CAD struggles to attract any meaningful buyers and consolidates near the YTD low.US-Canada trade deal hopes underpin the CAD, though a stronger USD supports the pair.The technical setup favors bearish traders and backs the case for further depreciation.The USD/CAD pair extends its sideways consolidative price move for the second straight day on Friday and trades around the 1.3665 region during the early European session. Spot prices remain close to the year-to-date low touched on Thursday and seem vulnerable to sliding further.The Canadian Dollar (CAD) continues to draw support from reports that a trade deal between the US and Canada could…
As expected, the European Central Bank (ECB) delivered its eighth consecutive rate cut since June 2024, this time reducing the deposit rate by 25 basis points to 2.0%. The decision was virtually unanimous, with only one member (likely Austrian governor Robert Holzmann) dissenting. However, the bigger story emerged from President Christine Lagarde’s press conference, where she signaled the central bank was “getting to the end of a monetary policy cycle” and described the current policy stance as being in a “good position to navigate uncertain conditions.” Key points from the ECB: ECB cut deposit rate to 2.0% from 2.25%, main…
The US markets opened strong with a Trump-Xi call, progress in US-Canada and US-EU trade talks, and an ECB rate cut lifting risk appetite. But the party ended fast when a Trump-Musk feud sent Tesla sliding 14% and flipped sentiment from risk-on to risk off. Bitcoin fell below $101,000, gold gave up 4 week highs, and dollar weakness quickly faded as traders scrambled for safety. Here are headlines you may have missed in the last trading sessions! Headlines: Australia balance of trade for April: 5.41B (6.3B forecast; 6.9B previous) China Caixin services PMI for May: 51.1 (51.0 forecast; 50.7 previous)…