FX

Share: US adds 339K jobs, beating estimates; EUR/USD slips by 0.43%. Federal Reserve’s hawkish outlook hints at a possible July FFR increase. Positive economic indicators from Europe, including Italy’s Industrial Production and Spain’s Unemployment Change. EUR/USD slumps from weekly highs reached as a knee-jerk reaction to a solid US jobs report, driving the pair towards

Share: Oil price recovers for the second day after the debt-ceiling bill gets voted through by the US Senate.  The possibility of OPEC+ announcing more production cuts at its June 4 meeting further supports Oil.  The breakeven price for the Saudis is $80 a barrel despite Russia downplaying the need for cuts. Nonfarm payrolls beats

Share: Economists at ING discuss USD outlook ahead of US NFP job data.  Dollar bias looks lower unless NFP comes in strong We would say that an on-consensus +195K increase in jobs, a 3.5% unemployment rate and a 0.3% MoM increase in hourly earnings would not be enough to shift the needle from the view

Share: EUR/JPY retakes the 149.00 area after three days of losses. Headline and Core HICP decelerated to 6.1% and 5.3% YoY in May in the EZ. ECB’s Christine Lagarde stated that she is not satisfied with the inflation outlook.  The EUR/JPY rebounded towards the 149.35 area after the bears got rejected at the 20-day Simple

Share: USD/JPY regains positive traction on Thursday and snaps a three-day losing streak. A goodish pickup in the US bond yields boosts the USD and lends support to the pair. Reduced bets for more Fed rate hikes and intervention warnings could cap the major. The USD/JPY pair stages a solid bounce from sub-139.00 levels, or

Share: USD/CAD bears are in the market which leaves prospects of a correction on the cards.  Support is playing its role and there is a focus on the Fibo scale.  The Canadian Dollar strengthened on the back of data showing the domestic economy grew stronger than expected in the first quarter. USD/CAD is now breaking important

Share: EUR/USD resumes the decline and retests 1.0670/60. The greenback appears well bid and weighs on the risk complex. Germany Unemployment Rate held steady at 5.6% in May. Sellers remain well in control of the sentiment around the European currency and now force EUR/USD to drop to 2-month lows near 1.0660 on Wednesday. EUR/USD weaker

Share: USD/CAD bulls are starting to graze on the bearish correction.  Trendline support could well be respected leading to a bullish continuation.  The Canadian dollar edged higher against the US Dollar on Monday as a deal to temporarily suspend the US debt ceiling boosted investor sentiment. Technically, however, the correction could be grazed upon by hungry bulls

Share: Here is what you need to know on Tuesday, May 30: The US Dollar (USD) continues to gather strength against its rivals as trading conditions normalize following Monday’s subdued action. The US Dollar Index sits at its highest level since mid-March near 104.50 ahead of the Conference Board’s Consumer Confidence report for May and

Share: NZD/USD bulls coming into the market.  Bearish impulse could be on the verge of a significant correction.  NZD/USD bears are lurking in a shallow correction of the daily bearish impulse as the following will illustrate in a top-down analysis starting on the daily chart. NZD/USD daily chart The price is embedded below prior support

Share: Here is what you need to know on Monday, May 29: Following the choppy action witnessed ahead of the weekend, financial markets stay relatively calm early Monday amid thin trading conditions. UK markets are closed due to the Spring Bank Holiday and American traders will be enjoying a long weekend on Memorial Day. Later

Share: WTI crude oil closes higher, settling at US$72.67 per barrel, driven by mixed signals from OPEC+ regarding production cuts. Ongoing talks between the Biden Administration and House Republicans bring relief as a deal to raise the US debt ceiling nears completion. US inflation surges as consumer spending exceeds expectations, with the personal consumption expenditures

Share: NZD/USD bears eye a continuation below structure.  Bulls could be lurking at a key area of potential support.  NZD/USD remains on the backfoot following the Reserve Bank of New Zealand confirming it would ease mortgage loan-to-value ratio (LVR) restrictions from June 1. The technical outlook is bearish for the meanwhile, but there could be prospects

Share: Reuters reported that the US Treasury Secretary Janet Yellen spoke on Friday and extended the deadline for raising the federal debt limit, saying the government could default on its debt as early as June 5 without increasing the country’s $31.4 trillion debt ceiling. Yellen had previously put that date as in early June, or potentially

Share: In an interview with CNBC on Friday, Federal Reserve Bank of Cleveland President Loretta Mester said that the Personal Consumption Expenditures (PCE) Price Index released on Friday underscored the slow progress on inflation.  Breaking: US Core PCE inflation increases to 4.7% vs. 4.6% anticipated. “It’s probably not wise to sort of pre-guess what the meeting

Share: Oil price recovers after the steep sell-off on Thursday due to mixed messaging from OPEC+ members. Russia’s Novak says production cuts are unlikely whilst Saudi Oil Minister seems to imply the opposite.  US Dollar corrects after strong rally, giving Oil a backdraught.   Oil price steadies on Friday after the previous day’s tumble, as

Share: Open interest in crude oil futures markets rose for the fourth session in a row on Thursday, this time by around 38.5K contracts according to preliminary readings from CME Group. Volume followed suit and went up for the third straight day, now by more than 84K contracts. WTI: Next on the downside comes $70.00

Share: EUR/JPY bulls ahve run into test the 150s. Resistance could prove tough and lead to a retest of trendline support. EUR/JPY is currently trading at 150.10 and has traveled between a low of 149.37 and a high of 150.15 so far on the day. The following illustrates the market that is attempting to break