FX

Mexican Peso strengthens against US Dollar, with USD/MXN dropping to 16.48 in reaction to upbeat US labor market figures. Despite a robust US jobs report, increased risk appetite drives equity gains, a tailwind for the Mexican currency. Fed officials maintain a cautious stance on rate adjustments, influencing market expectations for future monetary policy direction. The

Silver’s surge to multi-year highs reflects strong precious metals momentum, undeterred by US job market. Technical outlook hints at more gains, with resistances at $27.50, $28.00. RSI dip may prompt support tests at $27.00, $26.12 for future direction clues. Silver soared sharply and finished the week with gains of close to 10%, hitting three-year highs

Gold hits record highs, defying US Nonfarm Payrolls spike and US Dollar gains, highlighting safe-haven status. Fed rate cut outlook adjusted after employment data, central bank remarks. Geopolitical tensions and strong demand from China bolster Gold’s market strength. Gold rallied to a new all-time high, ignoring a strong March Nonfarm Payrolls report in the United

“I believe it’s much too soon to think about cutting interest rates,” Federal Reserve Bank of Dallas President Lorie Logan said on Friday, citing upside risks to inflation. Key takeaways “Need to see more of the uncertainty resolved about which economic path we’re on.” “Increasingly concerned about upside risk to the inflation outlook.” “FOMC should

A robust US Nonfarm Payrolls report for March propels the Greenback higher, impacting the EUR/USD. The Eurozone’s mixed economic indicators, including Germany’s Factory Orders and Retail Sales, contrast with the strong US employment landscape. Further downside seen at EUR/USD as technical suggests potential for declines below the 1.0800 threshold. The Euro registers minimal losses of

USD/CAD may find an immediate resistance area around the weekly high of 1.3588 and psychological level of 1.3600. A break above March’s high of 1.3614 could lead the pair to meet the major barrier of 1.3650. The immediate support appears at 1.3550, followed by the 50-day EMA at 1.3522. USD/CAD extends its gains for the

Mexican Peso is slightly up versus the US Dollar on cautious trading as Consumer Confidence deteriorates. Decrease in Mexico’s Consumer Confidence and Manufacturing PMI slowdown highlight challenges amid Banxico’s rate adjustments. Remittances remain a key support for the Peso, overshadowing near-shoring gains amid broader economic considerations. The Mexican Peso prints minuscule gains against the US

Here is what you need to know on Thursday, April 4: The US Dollar (USD) came under renewed selling pressure on Wednesday and the USD Index closed the second consecutive day in negative territory. S&P Global will release revisions to Services PMI data for Germany, the Eurozone and the UK on Thursday. Later in the

Dow Jones gives away initial gains as investors digest Powell, US services data.  US Services activity softened against expectations in March with the Prices Paid sub-index posting its lowest reading in years.  Intel is leading losses in the Dow Jones after news of hefty losses in its foundry business. The Dow Jones Industrial Average (DJIA) has returned

EUR/USD is rebounding from intraday-chart oversold lows.  Eurozone inflation data on Wednesday could impact interest-rate expectations and the exchange rate.  The recovery could rise a little further but the short-term trend remains bearish.    EUR/USD is edging higher on Wednesday, making it back into the 1.0770s and extending the previous day’s rebound from six-week lows. It

Mexican Peso climbs on Greenback as Mexico’s stable Business Confidence overshadows climbing US Treasury yields. Mexico’s economic schedule will feature Gross Fixed Investment and upcoming Banxico minutes. Despite positive US job and factory order figures, the Greenback’s rally loses momentum. The Mexican Peso recovered some ground against the US Dollar on Tuesday after upbeat economic

EUR/USD is heavy around 1.0730. Economists at Société Générale analyze the pair’s outlook. Next support is 1.0710/1.0695 EUR/USD has staged a steady pullback after forming a lower peak near 1.0980 last month. It has failed to defend 50-DMA resulting in deeper decline.  Daily MACD has dipped within negative territory highlighting lack of steady upward momentum. 

DXY Index stands positively at 104.95, reflecting a noticeable gain for the day. Investors focus on incoming data amidst speculation of an easing cycle commencing in June. ISM PMI readings from March beat expectations. Markets await Nonfarm Payrolls, Average Hourly Earnings, and Unemployment Rate from March to gauge insights into the economy’s health.  The US

Indian Rupee recovers some lost ground on Monday, despite the firmer US Dollar.  India’s growth and inflation dynamics might convince the RBI to hold rates higher for longer. The US ISM Manufacturing PMI will be due on Monday.  Indian Rupee (INR) trades on a stronger note on Monday despite the stronger US Dollar (USD). The

GBP/USD mildly up after PCE figures from the US meet expectations In Friday’s session, GBP/USD is being traded around 1.2640, registering a variation of 0.14% as investors digest the US February Personal Consumption Expenditures (PCE) figures. Read More… GBP/USD Price Analysis: The first downside target is seen at the 1.2600-1.2605 zone The GBP/USD pair trades on

The daily chart reveals slightly bullish momentum, with RSI at 52, signifying resilient buying traction. Indicators in the hourly chart denote a mild downward trend, which could hint at a potential shift. Buyers must successfully maintain the main SMAs to mitigate bearish threats and ensure bullish continuation. The EUR/JPY pair is currently trading at 163.13,

Australian Dollar remains tepid as market bias leans towards RBA adopting a dovish stance. Australia’s central bank may consider cutting interest rates in the second half of 2024. US Dollar strengthens as recent data suggests that the Fed may delay implementing rate cuts shortly. The Australian Dollar (AUD) extends its losses for the second successive

AMC Entertainment tumbles after disclosing plan to sell $250 million worth of stock. Cash would be used to pay down existing debt load. Kung Fu Panda 4 and Dune: Part 2 are doing well at the box office. Support from February awaits AMC stock at $3.60. AMC Entertainment (AMC) stock is back on the dilution train.