Author: FX
The Mexican Peso extends its gains against the US Dollar as markets adopt a ‘risk-on’ sentiment following the easing of US-China tensions.USD/MXN remains in a short-term bearish trend below 19.20.US-Mexico tensions remain in focus next week as Mexico condemns 50% tariffs on steel and aluminium imports to the US.The Mexican Peso (MXN) is experiencing its third consecutive day of gains against the US Dollar (USD) on Friday, pushing the USD/MXN exchange rate to its lowest level in eight months.With the emerging market pair trading near the October low of 19.11, bearish momentum of the short-term trend continues to hold. The…
USD/JPY climbs 0.87% to 144.83, nearing breakout above the Ichimoku Cloud.Strong US jobs report and higher Treasury yields fuel Greenback’s rally.Bulls eye 146.00 and May 29 high at 146.28 as next upside targets.USD/JPY extended its uptrend for two consecutive days, with the major currency pair reaching a new weekly high of 145.09, driven by solid US economic data on Friday. A strong US Nonfarm Payrolls report, rising US Treasury bond yields, and a slightly positive shift on sentiment toward US assets boosted the Greenback. At the time of writing, the pair trades at 144.83, up 0.87%.USD/JPY Price Forecast: Technical outlookThe…
The Dow Jones tested 13-week highs on Friday after NFP jobs data beat the street.China approved rare earth exports to the US, bolstering trader hopes for a continued easing of tariffs.Key US inflation data coming up next week, tariff impacts due to begin leaking into headline data.The Dow Jones Industrial Average (DJIA) briefly tested fresh 13-week peaks on Friday, with equities taking a step higher after Nonfarm Payrolls (NFP) jobs data came in stronger than expected. Trade tensions, or at least market perception of them, are also easing, keeping major indexes broadly bolstered to wrap up an otherwise middling trading…
It’s tragic that we’ve gone backwards in aviation in some ways in the past 30 years. The Concorde was a symbol of progress and it would be wonderful if I live to see the return of supersonic commercial aviation.The fastest trip the plane did from New York to London was 2 hours and 52 minutes.At supersonic speeds, a flight from New York to LA could take as little as two hours. There has been some progress — like the X-59 — in reducing the (very problematic) sonic boom. Later this year, ForexLive.com is evolving into investingLive.com, a new destination for…
CIBC economists dug through today’s Canadian employment report and see a jobs market that continuing to gradually weaken. The country added 8.8K compares compared to a -12.5K consensus but unemployment ticked up to 7.0% from 6.9%.”Trade sensitive areas such as manufacturing and transportation & warehousing unsurprisingly showed weakness, but for now that is being offset by job growth in other areas,” CIBC writes.If that continues — which they expect — they envision a BOC rate cut in July.”Today’s data suggest that while the economy isn’t yet contracting, it also isn’t living up to its long-run potential resulting in a continued…
No one has better data than Walmart and the CFO is just out saying that consumer spending has been ‘largely consistent’.I wouldn’t take it as gospel because Target threw up some red flags in earnings and Lululemon did today as well but I certainly wouldn’t bet against WMT. This article was written by Adam Button at www.forexlive.com. Source link
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USD/JPY dailyNomura is outlining a bearish scenario for USD/JPY in a Friday note.They say the pair could fall to 136 from 144.92 currently by the end of September as Japanese investors repatriate and Washington leans on Tokyo to strengthen the yen.Another factor is a hawkish Bank of Japan and rising local yields, which could “encourage domestic investors to increase more domestic bond than overseas bond exposure.”A separate report from MUFG targets 138.30 in USD/JPY. Later this year, ForexLive.com is evolving into investingLive.com, a new destination for intelligent market updates and smarter decision-making for investors and traders alike. Source link
Silver prices rise to 13-year highs as the white metal tests $36.00.Demand for Silver as an industrial metal surges despite softer demand for safe havens.The Gold/Silver ratio plunges, representing a risk-off tone.Silver (XAG/USD) is experiencing another day of positive gains, which has pushed prices to $36.00, its highest level since February 2012, providing a firm barrier of resistance. Silver benefits from both its safe-haven appeal during times of economic uncertainty and its unique properties, which make it one of the most sought-after industrial metals. Both characteristics have underpinned higher Silver prices, which are posting weekly gains of 9% at the time of…
Luis AlvarezThe U.S. stock market has rebounded significantly from April’s woes, with the benchmark S&P 500 (SP500) +19.20% from that month’s closing low. Carson Group’s Ryan Detrick believes this “early low” is evidence that the year can still end strongly and even Source link