Kiwi’s grip loosens against the Yen on Friday, moving towards the 20-day SMA. The cross cruises through a consolidation phase while the stance of the bear is strengthening. Defense around the 20-day SMA starts showing signs of weakness, hinting at potential declines. On Friday, the NZD/JPY pair faced selling pressure, with the cross declining towards
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
UPCOMING EVENTS: Tuesday: UK Labour Market report, US NFIB Small Business Optimism Index. Wednesday: Japan PPI, China CPI, UK GDP, US CPI, FOMC Policy Decision. Thursday: Australia Labour Market report, Swiss PPI, Eurozone Industrial Production, US PPI, US Jobless Claims. Friday: New Zealand Manufacturing PMI, BoJ Policy Decision, US University of Michigan Consumer Sentiment. Tuesday
Gold prices rose on Thursday, building on the previous session’s gains as investors awaited U.S. non-farm payrolls data that could determine whether interest rates will be cut earlier than expected this year. FUNDAMENTALS * Spot gold was up 0.4% at $2,365.40 per ounce, as of 0121 GMT, after a more than 1% gain on Wednesday.
Russia’s President Vladimir Putin gestures as he delivers a speech during the Saint Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 7, 2024. Anton Vaganov | Afp | Getty Images Russian President Vladimir Putin said Friday that nearly 40% of the country’s trade turnover is now in rubles as the share conducted in
Gold falls to multi-week low after US labor market data exceeds expectations. China’s People’s Bank halts 18-month Gold buying spree, exerts downward pressure on XAU/USD. US Treasury yields surge with the 10-year yield up to 4.43%, bolstering the Greenback and pushing Gold’s price lower. Traders eye US inflation data and Fed policy meeting next week.
Major US stock indices have now erased all the declines. The gains are led by the Dow Industrial Average retreated up 0.56%. The NASDAQ index is now up 0.14%: Dow Industrial Average average up 213 points or 0.56% at 39096 S&P index up 16.10 points or 0.30% at 5369.50 NASDAQ index of 23.76 points or
The PBOC is China’s central bank and the biggest buyer of gold in the world. Data hit on Friday that the Bank bought zero gold in May: In May 2024 gold prices hit a record high, and it looks like the PBOC stepped back from reserve buying in response. The Bank had been buying in
Oil prices edged down on Friday and posted a third straight weekly loss as investors weighed OPEC+ reassurances against the latest U.S. jobs data that lowered expectations that the Federal Reserve will cut interest rates soon. Brent crude futures settled 25 cents lower at $79.62 a barrel, while U.S. West Texas Intermediate crude (WTI) fell
Job growth in May was surprisingly strong, pushing back on lingering fears of a broader economic slowdown and likely slowing the Federal Reserve’s rate-cutting timeline. The U.S. economy added 272,000 jobs for the month, coming out significantly higher than the Dow Jones consensus estimate of 190,000. That’s also higher than the average monthly gain of
Canadian Dollar tumbles -0.65% against US Dollar on Friday. Canada added more jobs than expected but is eclipsed by US NFP. Bumper job additions and rising wages crimp rate cut hopes. The Canadian Dollar (CAD) is giving a mixed performance on Friday, climbing against the majority of its major currency peers but backsliding against the
EURUSD reaches 100 day MA The US non-farm payroll came in stronger than expected. That sent the USD higher and the EURUSD to new lows for the week. The move lower has now reached to – and now through – the 38.2% of the move up from the May 1 low. That level comes in
The US jobs report came in stronger, but then again there was some ambiguous/less strong components. Non-farm payroll rose 272K vs 185K estimate. Private payrolls rose 229K vs 170K estimate Average hourly earnings rose 0.4% vs 0.3% expected Average earnings YoY rose 4.1% vs 3.9% expected Those were the stronger-than-expected pieces of the report. The
Gold accelerated declines on Friday after a stronger-than-expected U.S. jobs report doused expectations for U.S. interest rate cuts this year, adding to bearish sentiment driven by data showing top consumer China held off on bullion purchases in May. Spot gold dipped about 3% to $2,304.54 per ounce as of 1757 GMT. U.S. gold futures settled
A representative speaks with a jobseeker at a job fair at Brunswick Community College in Bolivia, North Carolina, on April 11, 2024. Allison Joyce | Bloomberg | Getty Images The unemployment rate for white Americans held steady from April to May, bucking the trend for all other racial groups, according to data released Friday by
USD maintains its momentum, rising by more than 0.70% on Friday. US Nonfarm Payrolls exceeded market expectations in May, showing a robust recovery in the labor market. September odds fall for a Fed rate cut as positive economic signals abound. On Friday, the US Dollar Index (DXY) expanded its winning streak following stronger-than-forecasted labor market
The AUD is one of the weakets of the major currencies (along with the NZD). Commodities are sharply lower on the back of the higher dollar/higher rates/a more stubborn Fed. Technically, the price has moved lower to test a cluster of support including the 38.2% retracement at 0.6579, a swing area between 0.6579 to 0.6585.
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not