Author: FX

GBP/USD rebounds despite strong US NFP report, market doubt immediate Fed cuts The Pound Sterling (GBP) is advancing for the first time in the last four days and bounced off weekly lows against the Greenback, although an upbeat jobs report in the United States (US) decreased fears of a recession in the largest economy. Nevertheless, the US Dollar (USD) failed to gain ground, as depicted by GBP/USD trading at 1.3321, up 0.39%.Read More… Pound Sterling gives back majority gains against US Dollar on upbeat US NFP The Pound Sterling (GBP) is off from the day’s high of 1.3320 against the…

XAU/USD slumps, set to lose over 2.5% weekly as traders scale back Fed rate cut bets and risk appetite improves.April NFP beats estimates; unemployment steady at 4.2%, curbing aggressive Fed easing expectations.China says the US is open to trade talks, boosting sentiment and pressuring Gold.Gold (XAU/USD) price edged down over 0.35% on Friday, poised to end the week with losses of over 2.50%. An improvement in risk appetite due to easing trade tensions alongside a strong labor market report in the United States (US) prompted investors to book profits ahead of the weekend. At the time of writing, XAU/USD trades…

US Dollar Index (DXY) falls to 99.47 after a false break at the 100.00 level.Nonfarm Payrolls rise by 177,000, surpassing estimates but showing a slowdown in growth.The Australian Dollar strengthens, trading near 0.6430 amid easing trade tensions with China.The AUD/USD pair sees gains on Friday, strengthening to near 0.6430 as the US Dollar softens. After a disappointing false break of the 100.00 level for the US Dollar Index (DXY), the Aussie benefits from improved sentiment surrounding US-China trade negotiations and a solid, yet slowing, jobs report in the US. While the market remains cautious, hopes for a resolution in the…

The AUDUSD made a strong push higher this week, breaking above a key swing area between 0.6429 and 0.64419, and stretching to test the 200-day moving average near 0.64614. The bullish momentum even briefly took the price above 0.64687, but buyers could not sustain the move, and the breakout failed.The pair is now backing off from those highs, putting pressure back on the former resistance-turned-support zone between 0.6429 and 0.64419. This area will be critical going forward. If buyers are to maintain short-term control, they must defend this zone on any dip.A break back below 0.6429 would weaken the bullish…

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Goldman Sachs expects OPEC+ to announce a second consecutive 0.41M BPD increase in supply for JuneSee Brent averaging $63 in 2025. Crude $59Sees Brent averaging $58 in 2026. Crude $55Crude oil is trading at $58.30 down $-0.95 or -1.60%. For the trading week, the price is down $-4.75 or -7.53%. This article was written by Greg Michalowski at www.forexlive.com. Source link

Gold dailyANZ sees the recent retreat in gold prices from record highs as a healthy correction. Despite improved US-China trade sentiment, the medium-term macro backdrop—characterized by persistent tariff risks, rising inflation expectations, and slowing growth—remains supportive for gold. ANZ maintains a year-end target of USD 3,600/oz, with USD 3,000–3,200/oz identified as a potential buy zone.Key Points:Recent Pullback from Highs:Macro Conditions Still Fragile:Q1 US GDP contracted by 0.3% (saar)—the first Q1 contraction since 2022.Fed’s Beige Book cited trade-related economic uncertainty; inflation expectations rose to 6.7% due to tariff-induced cost pressures.Monetary Policy & Real Rates:Market now expects up to 100bp of Fed…

April Nonfarm Payrolls beat consensus at 177K; Unemployment Rate steady at 4.2%, easing recession concerns.Trump pressures Fed to cut rates despite upbeat data; CBOT shows 88 bps of easing priced in.Apple and Amazon fall on China sales miss and cloud growth slowdown despite beating EPS forecasts.The Dow Jones Industrial Average (DJIA) rallied over 600 points, or over 1.65%, on Friday following a solid US jobs report that brushed aside fears that the largest economy in the world is tied into a recession. The Dow is set to end the week with gains of over 3% and, at the time of…

Here is a great chart from Brett Donnelly highlighting today’s 9-day winning streak in the S&P 500 (which is likely to hold given the 1.6% gain so far).It’s the first 9-day run since 2005 and another day of gains would take us back to 1996. The record was a 14-day winning streak that ended on April 15, 1971.Looking at this chart though, I’m struck by how few of the nine-day streaks turned into 10-day streaks. This article was written by Adam Button at www.forexlive.com. Source link

OPEC+ reportedly discussing a June production increase of approximately 400,000 barrels per day (BPD) according to Bloomberg delegates.The group has moved its meeting forward to May 3 (originally May 5) to discuss June output plans, per Reuters.Market expectations suggest OPEC+ will continue adding supply in June, with a consensus forming around a 411k BPD increase.The planned increase maintains the accelerated pace of additions, according to Amena Bakr. This article was written by Greg Michalowski at www.forexlive.com. Source link