Author: FX

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Non-farm payrollsCIBC is out with a review of today’s US non-farm payrolls report and concludes that it’s “nothing to write home about”.The jobs report showed hiring at a 147K pace in June, above expectations of 110K and the prior two months were revised up by +16K. The US dollar initially jumped on the headlines in part because yesterday’s ADP employment number showed a surprise contraction in jobs.”Today’s report was flattered by strong state and local government hiring, especially in state educational services that does not look durable,” CIBC writes, noting that private sector hiring was ‘pretty soft’.Still, the jobs market…

Prior was 49.9Prices paid: 67.5 vs. 68.7 priorNew orders: 51.3 vs. 46.7 prior -Employment: 47.2 vs 50.7 prior – lowest since MarchBusiness activity: 54.2 vs. 50.0 priorSupplier deliveries: 50.3 vs. 52.5 priorInventories: 52.7 vs. 49.7 priorBacklog of orders: 42.4 vs. 43.4 priorNew export orders: 51.1 vs. 48.5 priorImports: 51.7 vs. 48.2 priorInventory sentiment: 57.1 vs. 62.9 priorThe employment report adds to the puzzle around the real jobs situation in the US as this matches the softness in the ADP report but goes against the stronger non-farm payrolls data. The ISM employment number has only been in positive territory once since…

Fundamental OverviewGold has been on a steady rise since bouncing on a major trendline and the market increasing the easing bets for the Fed. The momentum waned a bit though as market participants await the NFP release before the US holiday tomorrow. In the bigger picture, gold remains in an uptrend as real yields will likely continue to fall amid Fed easing and just a hawkish repricing in rate cuts expectations could trigger corrections in the short term. The economic data will be particularly important for the market as Fed members sound inclined to cut earlier than expected or even…

Bank of Japan (BoJ) Board Member Hajime Takata said on Thursday that Japan is close to achieving BoJ’s price target but hasn’t fully achieved it yet, so it needs to maintain an accommodative monetary policy.Key quotes”Can’t say with pre-conception how long BoJ could wait before raising rates.””Want to scrutinise developments, including US Inflation, Fed moves, from now through summer.””Hard to pin-point japan’s neutral level of interest, guide policy with specific neutral rate estimate in mind.””Japan is close to achieving BoJ’s price target but hasn’t fully achieved it yet, so need to maintain accommodative monetary policy.””Can’t say now with any pre-set idea,…

GBP/JPY sees vulnerable as a significant increase in UK bond yields has weighed on the Pound Sterling.UK bond yields rallied after Chancellor Reeves presented new welfare bill.BoE Taylor sees five interest rate cuts this year.The GBP/JPY pair trades cautiously near 196.00 during the Asian session on Thursday after posting a fresh weekly low around 195.40 the previous day. The cross faces a sharp selling pressure as the Pound Sterling (GBP) underperforms across the board due to a sharp increase United Kingdom (UK) bond yield, following speculation over the future of Rachel Reeves as Chancellor of the Exchequer. British Pound PRICE…

The company’s midyear outlook drove the stock higher.MARA Holdings (NASDAQ: MARA) stock was surging about 11% higher on Wednesday and there is good reason to suspect that the rally could continue for the Bitcoin miner.The catalyst on Wednesday was a production update and outlook the company posted.The Bitcoin mining company reported 211 Bitcoin blocks won in June, which is down 25% from a record-setting 282 in May. It produced 713 Bitcoin last month, also down 25% from June.The decline was due mainly to reduced uptime from weather-related curtailment and the temporary deployment of older machines while storm damage was being…

Gold prices fell in Philippines on Thursday, according to data compiled by FXStreet. The price for Gold stood at 6,068.03 Philippine Pesos (PHP) per gram, down compared with the PHP 6,080.62 it cost on Wednesday. The price for Gold decreased to PHP 70,784.72 per tola from PHP 70,923.19 per tola a day earlier. Unit measure Gold Price in PHP 1 Gram 6,068.03 10 Grams 60,687.41 Tola 70,784.72 Troy Ounce 188,736.90 FXStreet calculates Gold prices in Philippines by adapting international prices (USD/PHP) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the…

GBP/CAD just threw down a big red candlestick after tagging new 2025 highs! Is this just a breather or the start of a longer-term downswing? We’re eyeing a major support zone that could decide whether the bulls step back in or call it a day. GBP/CAD Daily Forex Chart by TradingView Sterling slipped across the board after traders started doubting whether Chancellor Reeves still had solid backing from the government, especially after it watered down benefit cuts she had championed to balance the budget. At the same time, the Canadian dollar drew strength from rising oil prices, growing hopes for…

The U.S. private sector unexpectedly lost 33,000 jobs in June, a big miss compared to the forecast for a 95,000 gain. That’s the first drop since March 2023, and to make things worse, May’s figure was revised down to 29,000 from 37,000. Most of the weakness came from services, with professional and business services down 56,000 and education and health services shedding 52,000. Still, there were a few bright spots: manufacturing, construction, and leisure and hospitality all added jobs. Link to ADP Non-farm Employment Report for June 2025 Key points from the release: Service sectors led the decline: professional/business services…