FX

Inflation in the US, as measured by the change in the Consumer Price Index (CPI), declined to 3.3% on a yearly basis in May from 3.4% in April, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading came in below the market expectation of 3.4%. Join our Live Coverage here. The annual

USD/JPY trades in positive territory for the fourth consecutive day on Wednesday.  The US CPI inflation report and the Fed interest rate decision will be closely watched later on Wednesday.  The BoJ is expected to keep the short-term policy rate steady at 0-0.1% at its June meeting on Friday.  The USD/JPY pair extends the rally near

Natural Gas price shows no signs of fatigue and resides near the high of 2024. Chevron’s Wheatstone LNG plant ountage causes supply tightening. The US Dollar Index resides near 105.00 ahead of Wednesday’s CPI and Fed meeting. Natural Gas price (XNG/USD) trades higher on Tuesday, nearing a fresh yearly high, as Europe discusses ways of

NZD/USD edges lower near 0.6130 in Tuesday’s early Asian session. Any signs of US inflation data improvement might trigger the Fed to cut rates in the coming months.  The RBNZ’s hawkish stance might continue to support the Kiwi in the near term.  The NZD/USD pair trades on a softer note around 0.6130 on Tuesday during

The US Dollar rallies on all fronts, with antipodes as outliers.  Markets are trembling with fear after the EU election result forced Macron to call for snap elections.  The US Dollar Index pops above 105.00 and hits a fresh four-week high.  The US Dollar (USD) edges higher and extends its rally on Monday following upbeat

AUD/USD weakens near 0.6580 in Friday’s early Asian session.  The strong US employment data prompted traders to push back the expected timing of Fed rate cuts. The RBA’s hawkish stance might support the Aussie and cap the pair’s downside.  The AUD/USD pair remains under some selling pressure around 0.6580 during the early Asian session on

Kiwi’s grip loosens against the Yen on Friday, moving towards the 20-day SMA. The cross cruises through a consolidation phase while the stance of the bear is strengthening. Defense around the 20-day SMA starts showing signs of weakness, hinting at potential declines. On Friday, the NZD/JPY pair faced selling pressure, with the cross declining towards

Gold falls to multi-week low after US labor market data exceeds expectations. China’s People’s Bank halts 18-month Gold buying spree, exerts downward pressure on XAU/USD. US Treasury yields surge with the 10-year yield up to 4.43%, bolstering the Greenback and pushing Gold’s price lower. Traders eye US inflation data and Fed policy meeting next week.

Canadian Dollar tumbles -0.65% against US Dollar on Friday. Canada added more jobs than expected but is eclipsed by US NFP. Bumper job additions and rising wages crimp rate cut hopes. The Canadian Dollar (CAD) is giving a mixed performance on Friday, climbing against the majority of its major currency peers but backsliding against the

USD maintains its momentum, rising by more than 0.70% on Friday. US Nonfarm Payrolls exceeded market expectations in May, showing a robust recovery in the labor market. September odds fall for a Fed rate cut as positive economic signals abound. On Friday, the US Dollar Index (DXY) expanded its winning streak following stronger-than-forecasted labor market

The US Dollar trades mixed on Friday ahead of key US economic data.  Markets are still digesting the interest rate cut from the ECB ahead of the US Employment Report.  The US Dollar Index dips lower and already fell below 104.00 in the early Asian session.  The US Dollar (USD) edges lower on Friday but

EUR/USD bulls keep bids buoyed on Thursday, but technical ceiling remains. Broader markets looking ahead to Friday’s US NFP print. Fed rate cut hopes pin into September, ECB unlikely to bring a follow-up cut. EUR/USD pushed back into near-term highs on Thursday, easing below 1.0870 in early market action before recovering ground and re-pinning into

The European Central Bank is set to cut interest rates by 25 bps on Thursday. ECB President Christine Lagarde could stick to a data-dependent stance on future rate outlook. The Euro’s fate hinges on the ECB’s updated forecasts and Lagarde’s speech.  The European Central Bank (ECB) is set to announce its first interest rate cut

GBP/USD holds positive ground around 1.2790 amid the firmer USD on Thursday.  The ISM said on Wednesday that its US Services PMI rebounded to 53.8% in May from 49.4% in April.  The UK S&P Global Services PMI reached a six-month low of 52.9 from 55.0 in April.  The GBP/USD pair resumes upside near 1.2790 despite

Natural Gas price starts to consolidate after a sharp rally in May.  Egypte is importing more Gas ahead of the summer session to meet energy demand. The US Dollar Index jumps higher on Tuesday and is on track to recover initial weekly losses.  Natural Gas price (XNG/USD) trades roughly flat at around $2.70 during the

Gold drops 0.90% as commodities face widespread pressure. US Treasury yields fall seven basis points, but the Greenback gains marginally, with the DXY up 0.04% to 104.08. US JOLTS data hit three-year low, showing economic slowdown alongside below-estimate Durable Goods Orders. Gold prices retreat some 0.90% in the mid-North American session on Tuesday, amid a

The Oil price fell to $72.50 as OPEC+ plans to shore up the market. Weak US factory PMI raise concerns over the Oil demand outlook. Investors await the US NFP data for fresh guidance. West Texas Intermediate (WTI), futures on NYMEX, fall further to $72.50 in Tuesday’s European session. The Oil price extends its losing streak for

Dow Jones backslides as investors balk at softening US data. Markets have shifted to bets of a November Fed rate cut. Monday kicks off NFP week with a sharp pullback in equities. The Dow Jones Industrial Average (DJIA) is down around 200 points on Monday with investors taking a step back after US ISM Manufacturing Purchasing