The Euro (EUR) is little changed against the US Dollar (USD) on Friday, holding around the mid-point of Wednesday’s wide range, Scotiabank’s Chief FX Strategist Shaun Osborne notes. Charts show tentatively positive signals “ECB Governor Nagel commented a little earlier that the central bank should not rush rate cuts, echoing Holzmann’s remark earlier this week.
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EUR/JPY finds support at Ichimoku cloud bottom, trading capped at upper edge at 161.45. Bearish momentum noted; faces resistance at 161.00 and 50-day SMA at 161.75. Decline below Ichimoku cloud could test deeper supports at 156.16 and 154.39. The EUR/JPY bottomed near 159.69 and rose past 160.50 on Friday after registering two consecutive days of
EUR/USD dips and lands around 1.0285 amid fading upside impetus. RSI edges up, still confined in negative territory and signaling lukewarm buying interest. MACD histogram remains flat with green bars, highlighting a lack of compelling bullish follow-through. The EUR/USD pair struggled to maintain upward momentum on Friday, slipping by 0.20% to settle around the 1.0285
Pound Sterling tumbles as decline in UK Retail Sales sets stage for BoE rate cuts The Pound Sterling (GBP) falls sharply against its major peers on Friday as the United Kingdom (UK) Office for National Statistics (ONS) reported that Retail Sales surprisingly contracted in December, another data that adds to the weak economic outlook. The
The Australian Unemployment Rate is foreseen at 4% in December. Employment Change is expected to include a large increase in full-time jobs. AUD/USD corrected from multi-year lows, sellers retain control. The Australian Bureau of Statistics (ABS) will release the December monthly employment report at 00:30 GMT on Thursday. The country is expected to have added
EUR/USD rose on Tuesday, reclaiming the 1.0300 handle. Euro traders are holding out hopes that a French accord will avoid government collapse. Key US CPI inflation figures are due on Wednesday. EUR/USD found enough gas in the tank for an intraday rally on Tuesday, rising over eight-tenths of one percent on the day as Euro
USD/JPY gains to near 158.00 as the safe-haven demand of the Japanese Yen has eased. Investors await the US inflation data for fresh guidance on interest rates. Fed dovish bets have lately trimmed on upbeat US labor market data for December. The USD/JPY pair moves sharply higher to near 158.00 in Tuesday’s European session. The
The Greenback added to recent gains and rose to fresh cycle highs backed by investors’ repricing of fewer (if any at all) interest rate cuts by the Federal Reserve this year. Here is what you need to know on Tuesday, January 14: The US Dollar Index (DXY) surpassed the 110.00 hurdle for the first time
The Pound Sterling faces a sharp sell-off as rising borrowing costs for the UK government could force the administration to cut public spending. Surprisingly upbeat US NFP data has forced traders to pare dovish Fed bets. Investors await the UK-US inflation data for December, which will be released on Wednesday. The Pound Sterling (GBP) extends
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
AUD tumbles 0.73% to 0.6155 on Friday. Hotter-than-expected NFP bolsters USD demand. Fed’s hawkish tilt and trade tensions between the US and China weigh on Aussie. The Australian Dollar remains under intense selling pressure following stronger-than-anticipated US Nonfarm Payrolls (NFP) data, hovering near multi-year lows around 0.6150. The Federal Reserve’s (Fed) hawkish shift keeps US
Gold rebounds 0.69% despite significant US job additions, challenging Fed’s rate cut path. Gold recovers from post-labor report drop as investors weigh Fed’s cautious disinflation stance. Upcoming US inflation and retail sales data set to influence gold’s trajectory, Fed policy. Gold price rebounded off daily lows on Friday, extending its rally for the fourth consecutive
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
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
Silver prices (XAG/USD) rose on Friday, according to FXStreet data. Silver trades at $30.29 per troy ounce, up 0.63% from the $30.10 it cost on Thursday. Silver prices have increased by 4.83% since the beginning of the year. Unit measure Silver Price Today in USD Troy Ounce 30.29 1 Gram 0.97 The Gold/Silver ratio, which
Mexican Peso faces pressure after Banxico’s dovish shift suggests larger, and possibly quicker, interest rate cuts. Mixed inflation data from INEGI maintains uncertainty, adding to Peso’s volatility in light trading conditions. Interest rate differential concerns increase as Banxico’s potential 150 bps cuts contrast with the Fed’s more conservative 57 bps easing outlook. The Mexican Peso
Provided that Australian Dollar (AUD) remains below 0.6245, it could test the major support of 0.6180 before a rebound is likely. In the longer run, AUD must break and remain below 0.6180 before further weakness can be expected, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note. Likelihood of AUD breaking
The Federal Reserve’s hawkish monetary stance contributes to rising Treasury yields, reinforcing the US Dollar’s current strength. Rumors of a potential national economic emergency declaration bolster safe-haven demand and support the Greenback’s appeal. Encouraging labor market figures, including lower jobless claims and steady employment gains, further amplify bullish sentiment. FOMC minutes revealed that most members