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Markets: Gold up $8 to $1941 US 10-year yields down 14.5 bps to 4.04% WTI crude up $1.10 to $82.65 EUR leads, CAD lags S&P 500 down 24 points, or -0.5% The initial reaction to the non-farm payrolls report was to sell the dollar but then the market had a look at the higher wage

Gold prices looked set to post their worst week in six on Friday as investors braced for a closely watched U.S. jobs report after a string of solid economic data this week drove Treasury yields to nine-month highs. FUNDAMENTALS * Spot gold was up 0.1% at $1,936.15 per ounce by 0138 GMT, while U.S. gold

Dollar falls broadly in early US session following slightly below-expectation non-farm payroll job growth. However, the downside is currently limited, thanks to stronger-than-expected wage growth. The market behavior seems to suggest that traders are merely lightening their positions ahead of the weekend and CPI data release next week, rather than initiating any significant position reversals.

Headlines: Markets: USD leads, CHF lags on the day European equities mixed; S&P 500 futures up 0.2% US 10-year yields flat at 4.192% Gold down 0.1% to $1,931.15 WTI crude up 0.6% to $82.05 Bitcoin down 0.5% to $29,132 It was a bit of a sideways session as markets are waiting on the US non-farm

Gold traded range bound on Friday in the absence of any significant trigger. The yellow metal is near its three-week lows dragged by the strength in the dollar index (DXY) which has sustained above the 102 mark against a basket of six top currencies. Street awaits the US non-farm payroll data due for a release,

Dollar maintains its position as the week’s strongest major currency, although momentum has noticeably started to wane. The release of today’s non-farm payroll report is poised to be a critical determinant in whether the greenback can sustain its near-term rally. However, market reactions could be complex, given that robust numbers could be seen as both

Earlier preview is here: July non-farm payrolls preview: ADP vs ISM edition The data is due at 1230 GMT, which is 0830 US Eastern time. Deutsche Bank: While our economists expect some payback from state and local government education hiring for the headline print (+175k forecast, consensus at +200k vs. +209k previously), they expect a

A New York technology entrepreneur pleaded guilty on Thursday to laundering funds stolen from Bitfinex, one of the world’s largest cryptocurrency exchanges, with his wife, an online rapper, expected to follow. Ilya Lichtenstein entered his plea at a hearing before U.S. District Judge Colleen Kollar-Kotelly in Washington. His wife Heather Morgan, who used the hip-hop

Sterling falls significantly today following BoE’s decision to raise interest rates by only 25bps. This cautious, along with Governor Andrew Bailey’s clear indication that a 50bps hike was not on the table, has resulted in substantial pressure on the Pound. Meanwhile, currency markets remain mixed elsewhere, with Canadian and US Dollar on the softer side,

Here’s a look at how the OIS curve has shifted before and after the BOE policy decision today: It’s not much of a change in general as the BOE continues to allude to the fact that they are going to keep tightening policy further so long as the data suggests so. That is regardless of

Gold traded in the red on Thursday amid a positive bias in the dollar index (DXY) which is still hovering above the 102 mark against a basket of top six currencies. Anticipation of further rate hikes along with Fitch downgrade in the US credit rating has kept the yellow metal on tenterhooks and prevented it

Dollar continues to strengthen today, bolstered by prevailing risk-off sentiment that has carried over from US to Asian markets. The surge in benchmark 10-year yields is providing additional support to the greenback, as even Euro has finally conceded a near-term support level against Dollar, further affirming the underlying momentum. Meanwhile, the foreign exchange markets elsewhere

S&P Global / Judo Bank Final Services PMI for July 2023. Services is 47.9, tumbling into contraction from 50.3 in June third monthly fall in the services activity index biggest monthly fall since the start of the Reserve Bank of Australia’s tightening cycle in May 2022 Composite is 48.2 in July, down from 50.1 in

Gold prices edged higher on Wednesday as the U.S. dollar and Treasury yields were bogged down after Fitch downgraded the country’s credit rating, souring confidence in the economy ahead of key data due this week. FUNDAMENTALS * Spot gold was up 0.2% at $1,948.43 per ounce by 0122 GMT, while U.S. gold futures rose 0.3%

Dollar is making an effort to extend its near term rebound in early US session, bolstered by significantly stronger-than-expected ADP private job report. Concurrently, the greenback is finding support from the risk-off mood triggered by Fitch’s unexpected downgrade of US sovereign rating, which sent global equities lower. However, Dollar’s upside momentum seems far from being

S&P 500 futures have pretty much more than halved losses now, being down just 0.4% after having been down a little over 1% earlier in the session. It’s been a gradual recovery after a dip in the opening hour of European morning trade. Dip buyers are certainly making themselves known and are we going to

Gold traded in the green on Wednesday amid weakness in the dollar index (DXY), as it attempted to regain some lost ground after a sharp Tuesday fall. Indication of a soft landing for the US economy by the country’s Central Bank lifted the DXY. The DXY was still trading above the 102 mark against a

Market sentiment in Asia today leans heavily toward risk aversion, following the unexpected move by Fitch Ratings to downgrade US sovereign rating. Consequently, commodity currencies are grappling with strong sell-offs. New Zealand Dollar is leading the downward spiral, despite strong wage growth reflected Q2’s employment data. Australian Dollar, still reeling from the aftereffects of yesterday’s