Author: FX
Today’s US jobs report calmed nerves but there are still some dark clouds on the horizon. Business Insider today reports that Amazon has frozen its hiring budget for its main retail business, citing internal emails.The changes only apply to corporate employees, not those working in warehouses or the cloud computing division. However it does apply to Amazon’s online marketplace, its logistics arm and grocery business.According to BI: The company doubled its workforce to 1.6 million from 2019 to 2021, but that number dipped to 1.55 million last year. Amazon has cut at least 27,000 employees since late 2022.I wonder if…
WTI crude oil dailyThe week began with OPEC adding barrels once again and there was also a mid-week report that Saudi Arabia wanted to keep adding 411K bpd in August and potentially September.Despite all that, oil is having a great week, up 6.5%. Perhaps some of that was relief that OPEC didn’t add even more barrels on the weekend but it’s a move that’s caught the market by surprise. I highlighted a potential inverted head-and-shoulders pattern at the start of the week and now we’re at the point where it could break the neckline. Such a move would need to…
Sterling still set for weekly gain over 0.80% amid broad Greenback weakness earlier in the week.US economy added 139K jobs in May, beating forecasts and reinforcing Fed’s cautious stance on rate cuts.Dollar strength resurfaces, with DXY climbing 0.58% to 99.28, its highest in two days.GBP/USD tumbled during the North American session, down over 0.30% after the latest jobs report in the United States (US) maintained the status quo, with the economy remaining strong. The pair traded at 1.3526 after hitting a daily high of 1.3586.Pound retreats below 1.3550 after NFP beats estimates, lifting the US Dollar and dampening dovish expectationsUS…
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…