GBP/USD rallies from daily low of 1.2707 to trade above the 1.2800 mark. Key resistance levels reclaimed: 50-DMA at 1.2787 and 1.2800 mark; next targets are 1.2860, 1.2900, and 1.2950. If GBP/USD falls below 1.2800, it may range between 1.2800 and 1.2700, with further support at 100-DMA (1.2683). The Pound Sterling rallied sharply against the
The GBPUSD is higher on the day in sympathy with the dollar selling after the weaker US jobs report. However, the move to the upside did find willing sellers near a swing area target area between 1.2644 and 1.2667. That area did stall earlier rallies this week ahead of the interest cut by the BOE
Admittedly, this week was the biggest of the quarter with 4 of 7 “Magnificent 7” announcing including Meta, Apple, Amazon and Microsoft. How did those stocks do this week? 2 up and 2 down, with Amazon the worst performer as they missed on revenues (first miss in over 2 year). They also see less robust
Domestic gold prices jumped by over Rs 1,000 per 10 gram or 1.4% in evening trade, taking cues from the surge in the international markets. Gold’s safe haven appeal was in play after US unemployment data for July was reported higher at 4.3% versus 4.1% in June. Around 7:30 pm, MCX October gold futures were
Risk aversion is intensifying in early US session after non-farm payroll report significantly missed expectations on all fronts. This follows yesterday’s poor manufacturing data, which has already sparked discussions about a hard landing for the US economy. The weak job data is likely to fuel these concerns further, as stock futures are tumbling sharply, pointing
A sign for a health-care career fair at Cape Fear Community College in Wilmington, North Carolina, on Feb. 28, 2023. Allison Joyce | Bloomberg | Getty Images The unemployment rate fell for Asian Americans from June to July, bucking a broader trend, according to data released Friday by the U.S. Bureau of Labor Statistics. The
Linde on Friday reported another impressive quarter, as the industrial gas supplier continues to demonstrate its reliability and value in a diversified stock portfolio. Revenue in the second quarter totaled $8.27 billion, a bit shy of the $8.32 expected by analysts, according to estimates compiled by LSEG. On annual basis, overall revenue was up 0.8%.
US Nonfarm Payrolls are seen rising by 175K in July after June’s 206K increase. The Bureau of Labor Statistics will publish the high-impact United States jobs report on Friday at 12:30 GMT. The employment data could exacerbate the US Dollar’s pain after the Fed’s dovish hold on Wednesday. Attention now turns to the high-impact Nonfarm
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The old adage is that if the US catches a cold, Canada gets the flu. The market is certainly sending warning signals about the US economy as yields plunge but USD/CAD hasn’t made a decisive move yet. But that moment might not be far off as the pair threatens a trio of highs from the
Today all eyes will be on the US NFP report. There is some fear in the markets following yesterday’s ugly ISM Manufacturing PMI, so if we get an ugly NFP report we might see widespread risk-off. The market has fully priced in three rate cuts by the end of the year with chances of a
Amid increased geo-political tensions, gold October futures contracts at MCX opened at Rs 70,305 per 10 gram on Friday, which is up by 0.50% or Rs 351 while silver September futures contracts were trading at Rs 83,684/kg, up by 1.32% or Rs 1,090. Gold prices rose by a little over 1% in Thursday’s session by
Safe haven currencies are dominating the market as the steep selloff in the US extended into Asian trading, with Nikkei down more than -5%. Poor US manufacturing data released overnight has intensified investor concerns about an impending recession, overshadowing the benefits of monetary policy easing from Fed. The market’s attention is now firmly on today’s
People line up as they wait for the JobNewsUSA.com South Florida Job Fair to open at the Amerant Bank Arena on June 26, 2024, in Sunrise, Florida. Joe Raedle | Getty Images The U.S. labor market may have cooled some in July, as a gradual slowdown in the economy and Hurricane Beryl are expected to
Jensen Huang, co-founder and chief executive officer of Nvidia Corp., displays the new Blackwell GPU chip during the Nvidia GPU Technology Conference on March 18, 2024. David Paul Morris/Bloomberg via Getty Images Not all chip firms are benefitting from the boom in artificial intelligence, earnings show, underscoring the complexities of the semiconductor supply chain and
EUR/USD slipped back below 1.0800 as bearish pullback gains strength. Mixed US data reignited fears over a possible recession in the US. US NFP jobs report in the pipe for Friday, market attention fixed squarely on hiring numbers. EUR/USD lost a foothold above key technical levels on Thursday, slumping below the 1.0800 handle after a
The USDCHF is trading back to the low from earlier today at 0.87277. That level corresponds to the low from March 8 at 0.8728 (see red circle 3) and a swing high going back to January 23 at the same level. (see red circle 1). So far support is holding. The topside resistance now is