Author: FX

The USDCHF is up for the 4th day in row. For a review of what that mean technically, click on the video below for all the risks, targets and “whys”. This article was written by Greg Michalowski at www.forexlive.com. Source link

Mexican Peso is under pressure, falling over 1% as USD/MXN hits a six-day high at 20.74. Strong December US Nonfarm Payrolls boost dollar; Fed may hold rates longer. Banxico minutes hint at larger rate cuts, adding pressure on the Peso. The Mexican Peso (MXN) is under pressure against the Greenback, hitting a six-day low following the release of a stellar United States (US) employment report and after the Bank of Mexico (Banxico) revealed that larger interest rate cuts could be discussed in the coming meetings. The USD/MXN trades at 20.70, up more than 1%. The US Bureau of Labor Statistics…

The Canadian Dollar rose on Friday, but still lost ground to the Greenback. Canada and the US both added more jobs than expected in December. The Canadian Unemployment Rate and wage growth also eased. The Canadian Dollar (CAD) caught a bid on Friday, getting bolstered across the broader FX market after Canadian jobs figures in December surged well above forecasts. However, a wide surge of risk aversion after US Nonfarm Payrolls (NFP) figures also outperformed forecasts kicked the legs out from under investor rate cut expectations in 2025, sending the safe haven US Dollar broadly higher. Canadian Net Change in…

The Dow Jones tumbled 700 points on Friday after NFP figures surged in December. Market bets for Fed rate cuts sank, rate traders now expect a single rate cut this year. Consumer sentiment and inflation expectations also rose, further hitting risk appetite. The Dow Jones Industrial Average (DJIA) took a hard hit on Friday after investor sentiment soured on the back of a lofty Nonfarm Payrolls (NFP) jobs report, which showed a far higher rate of hiring than most investors anticipated. University of Michigan (UoM) consumer survey results also showed the average US spender expects more inflation rather than less…

Closing changes for the main European equity markets:Stoxx 600 -0.8%German DAX -0.5%France CAC -0.9%UK FTSE 100 -0.8%Spain IBEX -1.5%Italy’s FTSE MIB -0.5%On the week:Stoxx 600 +0.7%German DAX +1.6%France CAC +2.0%UK FTSE 100 +0.3%Spain IBEX +0.6%Italy’s FTSE MIB +3.0%The Italy MIB is at the top of the six-month range and did it on a rough week for risk assets globally. This article was written by Adam Button at www.forexlive.com. Source link

Arthur J. Gallagher acquires Wealth Management Partners Source link

EUR/USD falls for the fourth consecutive session before a modest uptick to 1.0310 on Friday. RSI hovers at 33, edging closer to oversold territory amid persistent bearish pressure. EUR/USD deepened its descent into fresh lows not seen since November 2022, briefly dipping below 1.0250 on Friday and the pair tallies four-day losing streak, reflecting an overall negative tone in recent sessions. Sellers appear to be firmly in control, with any bullish attempts thus far failing to generate a meaningful shift in direction. Technical indicators underscore the prevailing downside risk. While the Relative Strength Index (RSI) at 33 is nearing oversold…

Investing.com — Morgan Stanley upgraded Gilead Sciences Inc (NASDAQ:) to “overweight” from “equal weight,” raising its price target to $113 from $87 on HIV prevention drug Lenacapavir (PrEP) and next-gen HIV treatments. “We see the potential for upward estimate revisions on LEN for PrEP and further multiple expansion as the company makes progress with its next-gen HIV treatment strategy,” Morgan Stanley (NYSE:) analyst wrote. The brokerage highlighted Gilead’s promising pipeline, including CAR-T therapy Anito-cel for multiple myeloma, and projected revenue and EPS growth of 4.1% and 7.3% annually through 2033, outperforming peers. Gilead’s shares, trading at about 12 times 2025 earnings,…

In an interview with CNBC on Friday, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee said if conditions are stable and there is no uptick in inflation, with full employment, rates should go down, per Reuters. Key takeaways “Will never complain about 250,000 jobs.” “Still should not over-index on individual job reports.” “Will have to process if retail gains were a strong holiday season or something more general.” “I do not see job market as a source of inflation.” “Current wage growth consistent with 2% inflation given productivity.” “Job market seems stable at full employment.” “Rise in long rates not explained…

Two-month net revision: -8K versus +56K priorUnemployment rate: 4.1% versus 4.2% expected and 4.2% priorUnrounded unemployment rate: 4.0855% vs 4.2457% priorPrior unemployment rate: revised to 4.2% from 4.2%Participation rate: 62.5% versus 62.5% expectedU6 underemployment rate: 7.5% versus 7.8% priorAverage hourly earnings: +0.3% m/m versus +0.3% expected and +0.4% priorPrior avg hourly earnings: +0.2% (revised from +0.4%)Average hourly earnings: +3.9% y/y versus 4.0% expected and 4.0% priorAverage weekly hours: 34.3 versus 34.3 expected and 34.3 priorChange in private payrolls: +223K versus +135K expected and +194K priorChange in manufacturing payrolls: -13K versus +5K expected and +22K priorGovernment jobs: +33K versus +33K priorFull…