FX

Broadcom could be the next company to join the trillion dollar club. Wednesday’s earnings release showed another beat-and-raise announcement that has become commonplace. Markets consolidate on Friday after week’s CPI-led fireworks. Michigan Consumer Sentiment drains, sending NASDAQ lower. Broadcom (AVGO) stock exploded 12% on Thursday, quite a feat for a company already valued at more

USD/CAD rises further to 1.3770 as the Fed’s hawkish policy update dampens market sentiment. Fed Mester agreed that the disinflation process has resumed. Canada’s Manufacturing Sales grew by 1.1% in April on month, missing estimates of 1.2%. The USD/CAD pair extends its upside to near 1.3770 in Friday’s American session. The Loonie asset strengthens as

Japanese Finance Minister Shunichi Suzuki said on Friday that he aims to achieve the primary balance goal. He further stated that he will keep an eye on China’s excess production on the Japanese economy.  Key quotes Aims to achieve primary balance goal.  Will monitor the impact of China’s excess production on the Japanese economy. Poised to

Natural Gas falls lower with markets having difficulties digesting Fed’s communication. German utility company Uniper terminates Gas supply contracts with Russia’s Gazprom after a court ruling. The US Dollar Index trades sideways after a very volatile session on Wednesday.  Natural Gas price (XNG/USD) sinks lower by more than 1%, turning red after a green bounce

Bank of Canada (BoC) Governor Tiff Macklem reiterated on Wednesday that there is a limit to how far the Canadian central bank can diverge on rates from the Federal Reserve (Fed), but they’re not close to that limit.   Key quotes “For many of our citizens, this has been their first experience with high inflation, and

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