Author: FX
Soon after the better-than-expected US jobs report in the worse than expected Canadian jobs report, I posted the following brief commentary and chart:The key resistance zone overhead was defined by the 38.2% retracement level, the swing area between 1.37089 and 1.37149, and the 100-day moving average near 1.3720. The price pushed higher into that resistance cluster, reaching a session high of 1.3710 before rotating back to the downside. The current price has now returned to the same area where the earlier post was made, reflecting the market’s inability to sustain momentum above the key technical ceiling.On the downside, support now…
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Silver (XAG/USD) trades around $80.70 on Friday at the time of writing, up 2.98% on the day, supported by a weaker US Dollar (USD) and persistent demand for safe-haven assets amid heightened geopolitical tensions.The United States (US) Bureau of Labor Statistics (BLS) reported that Nonfarm Payrolls (NFP) increased by 115K in April, beating market expectations of 62K. March’s figure was also revised higher to 185K from 178K previously reported. The Unemployment Rate remained steady at 4.3%, while annual wage growth accelerated to 3.6%, although it came in below expectations of 3.8%.Despite the stronger-than-expected labor market data, the US Dollar weakens…
Experts race to write guidance to contain first ship-borne hantavirus outbreak Source link
Rate hikes by year-endRBNZ: 83 bps (67% probability of no change at the next meeting)ECB: 60 bps (77% probability of rate hike at the next meeting)BoE: 52 bps (64% probability of no change at the next meeting)BoJ: 42 bps (64% probability of rate hike at the next meeting)BoC: 42 bps (95% probability of no change at the next meeting)RBA: 35 bps (82% probability of no change at the next meeting)SNB: 16 bps (92% probability of no change at the next meeting)Fed: 2 bps (97% probability of no change at the next meeting)We can see that the hawkish expectations haven’t changed…
ING’s Francesco Pesole argues the Pound remains vulnerable as United Kingdom (UK) local election results show heavy losses for Labour and early calls for Prime Minister Starmer to resign. Pesole notes GBP weakness preceded the vote on softer risk sentiment, but sees upside risks for EUR/GBP given no prior political risk premium and potential concerns over future UK borrowing under alternative leadership.Political stress supports EUR/GBP”The UK’s ruling Labour Party has suffered heavy losses as the results of council elections start to come in. Most areas are yet to declare results, including in the crucial Scottish and Welsh parliamentary elections. Some…
US suspects Nvidia chips smuggled to Alibaba via Thailand, Bloomberg News reports Source link
The German Sniper is a custom MT4 indicator that combines trend direction signals with momentum-based entry timing. It paints arrows or signals on the chart to indicate potential buy and sell zones, typically at key inflection points where price is likely to reverse or continue a dominant trend. Unlike a simple moving average crossover setup, this indicator appears to integrate multiple layers of market logic — including price action context, volatility filtering, and momentum shifts. The result is a cleaner signal output that aims to reduce the false triggers that plague simpler tools. It’s worth pointing out that this isn’t…
Earlier this week, the UK’s 30-year government bond yield surged as much as 13 basis points to 5.78% — the highest level since 1998. This is a symptom of a larger problem. In fact, from Tokyo to London to Washington, government bond yields have been climbing sharply. When this happens, it doesn’t just affect bond investors. It ripples across currencies, stock markets, and — critically — the decisions of the world’s most powerful central banks. If you want to understand why interest rate cuts keep getting pushed back, this is a big part of the answer. The IOU and the…
CAD/JPY has spent the week sliding toward a long-term rising trendline that dates back to 2021, testing other key support levels as well. Will it hold or fold? Source link