Share: US stocks slammed into the close and erode the NFP knee-jerk rally. Investors rethink the US data this week and the hawkish sentiment is a dark cloud over Wall Street. The S&P 500 (US500) index fell on Friday with weakness intensifying into the close. The US Nonfarm Payrolls data from the Labor Department, which offered a mixed view
FX
Share: Mexican Peso recovers as weak US data sparks a sell-off, bringing USD/MXN down from a four-week high. US job growth disappoints, triggering Dollar weakness; inflation fears persist as Average Hourly Earnings rise. Mexican inflation declines for the fifth month, defying estimates; CME FedWatch Tool shows heightened odds for a Fed rate hike. The Mexican
Share: On Friday, the EUR/JPY found support at the 155.40 area, near the 20-day SMA and then settled at 155.80 The JPY strengthen agains most of its rivals amid strong Labor Cash Earning data from Japan. Eyes on German CPI data next Tuesday. At the end of the week, the EUR/JPY traded with losses for
Share: The US dollar weakens across the board after the US official jobs report. EUR/USD gains momentum after breaking above 1.0930. The pair is heading for its highest weekly close since May. The EUR/USD pair gained momentum amid a weaker US Dollar following the release of US employment data. After breaking above 1.0930, the Euro
Share: USD/CHF plunges to a two-month low of 0.8889, down 0.72%, due to weaker-than-expected US labor data and a weakened US Dollar. The pair breaches a two-month support trendline, extending losses below 0.8900. The next target is the year-to-date low of 0.8819, pending a breakthrough of the 0.8850 psychological level. If buyers reclaim 0.8900, initial
Share: In an interview with La Provence on Friday, European Central Bank (ECB) President Christine Lagarde said, “we still have work to do to bring inflation back down to our target.” Additional quotes “The priority is to maintain price stability.” “Inflation has started to decline.” “A part of that is the initial impact of monetary
Share: GBP/JPY fell towards the 182.50 level and then stabilised above 183.00. Rising British and American yields limit the Yen’s advance. Eyes on Labor Cash Earnings data from Japan and NFP data from the US. On Thursday, the GBP/JPY trades with losses after three consecutive gains as the cross retreats from overbought conditions. After falling
Share: In this technical blog, we will look at the past performance of the 1-hour Elliott Wave Charts of Nikkei. We presented to members at the elliottwave-forecast. In which, the rally from 03 May 2023 low unfolded as an impulse structure. And showed a higher high sequence favored more upside extension to take place. Therefore, we advised members
Share: The Dow Jones Industrial Average gained 2% last week. DJIA index retreats 0.2% on Wednesday morning. FOMC minutes for June 13-14 meeting arrive Wednesday afternoon. 35,500 remains the primary Dow target for bulls. US June jobs report out on Friday with 225K the consensus. The Dow Jones Industrial Average (DJIA) edged down on Wednesday
Share: AUD/USD has dropped to near 0.6680 as the focus shifts to the US labor market and FOMC minutes. Caixin Services PMI has sharply dropped to 53.9 from the former release of 57.1. Investors are hoping that FOMC minutes could provide confident cues that the Fed would raise interest rates two times by year-end. AUD/USD
Share: USD/MXN falls to fresh YTD lows of 17.0156, with MXN benefiting from thin trading volumes due to US Independence Day celebrations. Despite robust US data – including firm Durable Good Orders, Consumer Confidence, and Q1 GDP reports – a weaker-than-expected inflation report and ISM Manufacturing PMI dampen greenback appeal. Mexican economic indicators show promise,
Share: Asia-Pacific markets remain mildly positive amid softer US data, hopes of Sino-American ties. Yield curve inversion renews recession fears and weigh on market’s optimism amid US holiday. Australia’s ASX rises half a percent on RBA’s surprise status quo. Japan intervention, inflation fears from South Korea also prod Asian equity buyers. Market sentiment in the
Share: The USD/CHF rises to a daily high of 0.9000, above the 20-day SMA, then retreats towards the 0.8960 area. Soft Swiss inflation figures from June weakened the Swiss Franc during the European session. US Manufacturing PMI dropped to 46 in June, weighing on the US Dollar. At the start of the week, the USD/CHF saw some volatility
Share: USD/INR prints the biggest daily loss on a day, so far, since early June on breaking the key support. India reports the biggest FPI inflow of 2023 in June, up for the fourth consecutive month. Firmer Oil price, mixed sentiment and softer US inflation gauge prod Indian Rupee traders. FOMC Minutes, US NFP will
Share: Despite daily gains, the XAU/USD is set to close a third consecutive week of losses, near the $1,920 area. Declining yields amid soft PCE figures weakened the USD favouring Gold prices. On Friday, the gold spot XAU/USD traded with nearly 0.50% gains, jumping near the $1,920 area. Soft Personal Consumer Expenditures from the US
Share: EUR/GBP slides as UK bond yields surpass German bond yields, strengthening the Pound. From a technical perspective, the pair exhibits a neutral to downward bias, with long-term daily EMAs standing above exchange rates. The EUR/GBP must regain the 0.8600 level and surpass the May 24 daily low resistance of 0.8648 to shift its bias.
Share: The XAG/USD jumped above $22.70, seeing more than 0.80% gains and is set to close a winning week. Core PCE declined to 4.6% YoY in May, lower than expectations. Following the data the USD and US bond yields retreated. The XAG/USD surpassed the $22.70 mark on Friday and registered an increase of over 0.80%.
Share: USD/MXN holds steady near 17.1200 as easing US inflation slows US Dollar’s climb, despite concerning Mexican jobs data. US Dollar Index drops more than 0.50% after the softer-than-expected inflation report, allowing breathing space for the peso. Expectations of unchanged rates from Banxico favor MXN, potentially signaling further downside for the USD/MXN pair. USD/MXN stays
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