Author: FX
Fed’s Barkin: We are in a zero-to-modest gain jobs environment !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
The US non-farm payrolls report pointed to an economy significantly worse than believed.The data showed the economy shedding 23K jobs in July, far worse than +80K expected and below any estimates in the survey of economists. Worse yet, the prior two reports were revised lower by a combined 103K jobs dropping the three-month average to just 20K jobs.The market had been leaning towards a rate hike in September and priced in at 57% just before the data but that’s fallen to 44% afterwards. With that, the US dollar dropped across the board. USD/JPY fell particularly hard and is now down…
Statistics Canada reported on Friday that the Unemployment Rate decreased to 6.4% in July, below what markets were expecting.Additionally, the Net Change in Employment increased by 75.1K jobs, adding to the 18.2K gain we saw in the prior month. In addition, the participation rate ticked a tad higher to 65.1%, and wages are growing at a 3.0% annual pace, down from June’s 3.7% yearly gain.Market reactionIn the wake of the release, the Canadian Dollar (CAD) regains buying pressure, motivating USD/CAD to break below the psychological 1.4000 threshold for the first time since mid-June. Canadian Dollar Price Today The table below…
July’s NFP could send mixed signals, so traders may need to look beyond payrolls to wages, unemployment, and revisions today. Source link
ING analysts Warren Patterson and Ewa Manthey note renewed strength in Oil, with ICE Brent rallying back above $82/bbl as obstacles to a US-Iran deal persist. They highlight Iranian demands around the Strait of Hormuz and limited signs of compromise. ING still expects Brent to average $80/bbl in the third quarter, while stressing significant risks and uncertainty.Brent supported by deal obstacles”Oil prices rallied yesterday, with ICE Brent settling 3.8% higher on the day, taking it back above $82/bbl. This strength continued in early morning trading today. Developments over the last 24 hours or so demonstrate once again that negotiations between…
AUD/USD sits just below a resistance shelf near a major psychological mark, right as the RBA heads into its next monetary policy decision. Source link
Crypto news – US Senate pushes CLARITY Act crypto vote to September as recess nears !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
WTI crude oil appears to have broken below the neckline of a complex Head and Shoulders pattern. Can this pullback gather more selling energy? Here are the potential retracement levels to watch on the 4-hour time frame. WTI Crude Oil (USOIL) 4-hour Chart Faster with TradingView Easing geopolitical tensions amid prospects of a US-Iran deal and the reopening of the Strait of Hormuz are once again forcing this energy commodity to unwind its war premium. However, uncertainty still remains as a news agency in Iran circulated a draft plan for the strait carrying far more restrictive shipping conditions, reviving oil…
USD/CAD extends its gains for the second successive day, trading around 1.4020 during the Asian hours on Friday. The pair continues to gain ground as the US Dollar (USD) benefits from revived safe-haven demand.Tensions in the Strait of Hormuz have unsettled global markets and cast fresh doubt over efforts to fully reopen the vital shipping route. Market participants remain highly skeptical about the corridor’s prospective opening, especially as Iran’s parliament reviews a draft agreement. The proposed draft would bar United States (US) and Israeli vessels, impose 20% cargo penalties on hostile nations, and keep the trade route restricted until the…
GBP/CHF has breached its upper Bollinger Band, raising the prospect of either a bullish breakout or a bearish fakeout. What comes next? Source link