Author: FX
Fed's Daly: April PCE inflation is a 'relief,' but incomplete, Fox Business Source link
Trump tariffs sparked court battles, appeals delays. Dollar volatility, Fed minutes, Canadian GDP surprises created intense currency market turbulence this week. Source link
The April US core PCE price index, the Federal Reserve’s preferred inflation gauge, rose 0.1% month-over-month, matching expectations. On a year-over-year basis, core PCE increased 2.5%, also in line with forecasts. The prior month’s figures were revised slightly higher, with core PCE YoY adjusted to 2.7% from 2.6%. Headline PCE rose 0.1% m/m and 2.1% y/y, just below the 2.2% forecast, indicating some easing in price pressures. Core PCE excluding food and energy also rose 0.1%, while service prices excluding energy came in flat, down from 0.2% previously. Overall, good data.In addition to the inflation data, personal income surged 0.8%,…
What a week it’s been for markets. Just when traders thought Trump’s decision to delay those hefty EU tariffs might bring some calm, a federal court threw a massive wrench into the works by striking down his “Liberation Day” tariffs altogether. Cue the market whiplash – the dollar spiked, bonds jumped, and everyone scrambled to figure out what it all meant. But before anyone could get too comfortable, an appeals court hit pause on the whole thing, leaving tariffs in place while lawyers duke it out. Add some spicy inflation data and central bank drama to the mix, and…
The Dow Jones tested lower on Friday after Donald Trump aimed at China once again.Equity markets remain hesitant following this week’s legal snag for Trump’s tariffs.US PCE inflation came in as expected, albeit with upside revisions to previous data.The Dow Jones Industrial Average (DJIA) stumbled on Friday as investors continue to get pummeled with new trade concerns from the White House. United States (US) President Donald Trump has pivoted once again to focus on China, claiming that their preliminary trade arrangements have been “violated”. Despite a general cooling off of key US Personal Consumption Expenditure Price Index (PCE) inflation figures…
The Canadian Dollar climbed 0.7% against the Greenback in Friday.Upbeat Canadian GDP growth figures sent Loonie traders scrambling for the buy button.The CAD is back in sight range of six-month highs.The Canadian Dollar (CAD) found some room on the top side on Friday, spurred higher by a better-than-expected print in Canadian Gross Domestic Product (GDP) growth figures for the first quarter. Ongoing trade turmoil from the Trump administration has kept the US Dollar (USD) hobbled near multi-year lows, giving the Loonie a chance to gain fresh ground.The Canadian economy grew by 2.2% through the first quarter, soundly thumping median market…
The major US stock indices are closing mixed with the Dow modestly higher, the S&P unchanged and the Nasdaq modestly lower. A snapshot of the closing levels shows:Dow Industrial Average, +54.34 points or 0.13% at 42,270.07S&P down -0.48 points or -0.01% at 5911.69Nasdaq down -62.11 points or -0.22% at 19113.77The Russell 2000 closed lower by -8.49 points or -0.41% at 2066.26For the trading week, the indices all closed higher:Dow rose 1.60%S&P rose 1.88%Nasdaq rose 2.01%Russell 2000 rose 2.01%It is also the month end, and the major indices all closed higher with the Nasdaq index rising over 9.5%Dow rose 3.94%S&P rose…
USD/CHF stuck between 0.8180–0.8300 as buyers fail to sustain breakout above resistance.RSI remains bearish; a break below 0.8200 could expose the May 7 low and YTD trough at 0.8034.Bulls must reclaim 0.8250 to retest 0.8300 and challenge the 50-day SMA at 0.8376.USD/CHF trades subdued on Friday after a US report showed that inflation is approaching the Federal Reserve’s (Fed) 2% goal. Meanwhile, US President Trump complained about the slow negotiations between Beijing and Washington, which have roiled the markets. However, he stated that he would speak with China’s President Xi Jinping to help resolve the issue. The pair is trading…
AUD/USD whipsaws on mixed economic data and expectations for monetary policy.Australia’s Retail Sales miss forecasts, but declining US inflation limits the losses.AUD/USD looks toward technical levels from historical moves for direction.The Australian Dollar (AUD) is consolidating against the US Dollar on Friday as fresh domestic data and monetary policy expectations for the Reserve Bank of Australia (RBA) and the US Federal Reserve (Fed) continue to drive price action.At the time of writing, the AUD/USD pair is struggling to find direction, held back by a combination of soft economic fundamentals and a technically capped range.Australia’s economy shows signs of weakness as…
USDCAD technicalsThe USDCAD is the largest mover in the market today, down 0.67% with a high-to-low trading range of 114 pips, well above the 22-day average of 80 pips. The expanded range underscores strong directional momentum, particularly as sellers regained control following multiple failed upside attempts.Technically, the pair started the day with a brief push higher, moving momentarily above the 200-hour moving average (green line). This level also capped the rally on Monday, when the price rose above both the 200-hour MA and the 50% retracement of the May range, but failed to sustain the move. That failure turned the…