Author: FX
Douglas Cliff/iStock Editorial via Getty Images Novo Holdings won European Union antitrust approval for its planned $16.5 billion purchase of Catalent (NYSE:CTLT). The deal is expected to close towards the end of calendar year 2024, subject to the satisfaction of other customary closing conditions, including receipt of all Source link
DXY trended higher toward 106.00 on Friday. November’s NFP report showed a large beat on job creation. Sentiment data from December came in strong. The US Dollar Index (DXY), which measures the value of the USD against a basket of currencies, gained toward 106.00 on Friday, driven by several key movers. The US Dollar remained flat after the release of Nonfarm Payrolls (NFP) data, while markets anticipated a potential December rate cut by the Federal Reserve (Fed). The DXY found support at 105.50 and advanced toward 106.00 amidst this news. As a result of anticipation of a rate cut, a…
Federal Reserve (Fed) Bank of Cleveland President Beth Hammack noted that while she believes it may be time for the Fed to begin slowing the pace of rate cuts, the Cleveland Fed head gave a nod to investors who are anticipating at least one more rate cut between now and the end of January. Hammack made her first major policy speech appearance on Friday after taking over the position of President of the Cleveland Fed from Loretta Mester, who retired from the post in June 2024 following a ten year run in the position. Key highlights The market view of one…
The Canadian Dollar tumbled nearly nine-tenths of a percent on Friday. Canada added more jobs than expected, but the Unemployment Rate lurched higher. US NFP numbers also beat the street, but sticky wages keep inflation concerns elevated. The Canadian Dollar (CAD) tumbled into recent lows on Friday, getting pummeled back into the bottom end after mixed datapoints in both the US and Canada pushed investors back into a cautious stance. Both countries saw higher-than-expected job additions in November, but unemployment rates on both sides of the border ticked higher on a monthly basis as well. Canada added nearly twice as…
The US Dollar strengthened ahead of the weekly close on the back of mixed data. The Reserve Bank of Australia will announce its decision on monetary policy next week. AUD/USD fell to its lowest since August, maintaining the bearish pressure. The US Dollar (USD) soared in the last trading session of the week, with the AUD/USD pair falling towards 0.6380, a level last seen in August. Without data releases in Australia, the market focused on the United States (US) macroeconomic developments. Mixed employment figures initially weighed on the USD, but a better-than-anticipated preliminary estimate of the US Consumer Sentiment Index…
The US Nonfarm Payrolls report showed the economy added 227K new jobs in November. The Michigan Consumer Sentiment Index jumped to 74 in December. The GBP/USD pair turned negative and approaches 1.2700. The US Dollar (USD) fell following the release of the United States (US) Nonfarm Payrolls (NFP) report, pushing GBP/USD to a fresh one-month high of 1.2810. According to the US Bureau of Labor Statistics (BLS), the country added 227,000 new job positions in November, beating the 200,000 expected. Additionally, the Unemployment Rate ticked up to 4.2% in November from 4.1%, meeting expectations. The Labor Force Participation Rate edged…
Prior was 71.8Current conditions 77.7 vs 63.9 priorExpectations 71.6 vs 76.9 prior1-year inflation 2.9% vs 2.6% prior 5-year inflation 3.1% vs 3.2% priorThis report isn’t about consumer spending, it’s about politics. Act accordingly:Republican sentiment up to 81.6 from 53.6 in OctoberDemocrats down to 70.9 from 91.4 in OctoberThis isn’t a serious survey.I suspect the jump in one-year inflation expectations is about tariff fears. Shame on the Fed if they read anything into this survey. This article was written by Adam Button at www.forexlive.com. Source link
Unemployment Rate in Canada rose at a faster pace than expected in November. USD/CAD trades in positive territory near 1.4100 after the data. The Unemployment Rate in Canada rose to 6.8% in November from 6.5% in October, Statistics Canada reported on Friday. This reading came in above the market expectation of 6.6%. Other details of the data showed that Net Change in Employment was +50.5K in this period, compared to the market expectation of 25K. Additionally, the participation rate rose to 65.1% from 64.8%, while the Average Hourly Wages rose by 3.9% on a yearly basis. Market reaction USD/CAD gained…
Olemedia/E+ via Getty Images GitLab (NASDAQ:GTLB) was in the spotlight on Friday after the DevOps company reported stronger-than-expected third-quarter results and guidance, leading to praise from Wall Street. Shares rose 10% in premarket trading, while Microsoft (MSFT), which owns GitLab’s competitor GitHub, was up 0.4%. “We remain Source link
Our Forexpedia defines the breakeven point as the level where gains are equal to losses. A breakeven trade is one that is neither a winner nor a loser. It closes at a particular price where profit and loss are both equal to zero. Sure, you rarely get praise from others (as well as yourself) for breakeven trades. But don’t take them for granted! The beauty of breakeven trades is that although you may not increase your account with them, they do protect your capital. Let me discuss the two kinds of breakeven trades and the psychology behind them. Let’s start…