Share: USD/JPY opens with a modest bearish gap on Monday, though lacks any follow-through selling. Escalating geopolitical tensions in the Middle East benefits the JPY and exerts some pressure. Subdued USD price action fails to provide any meaningful impetus amid intervention fears. The USD/JPY pair struggles to capitalize on Friday’s positive move and opens with
The stronger US jobs data has US yields moving sharply to the upside once again: 2 year yield 5.110%, +8.6 basis points 5 year yield 4.808% +12.5 basis points 10 year yield 4.86% +14.5 basis points 30 year yield 5.03% +14.4 basis points. Above the 5% level. Recall that earlier this week, the yield tagged
UPCOMING EVENTS: Tuesday: US NFIB Small Business Optimism Index. Wednesday: US PPI, FOMC Minutes. Thursday: Japan PPI, UK GDP, ECB Minutes, US CPI, US Jobless Claims, NZ Manufacturing PMI. Friday: China CPI, China Trade data, Eurozone Industrial Production, US University of Michigan Consumer Sentiment. This weekend, Hamas launched a massive attack against Israel which draws
Multi Commodity Exchange of India (MCX), India’s largest commodity derivatives exchange, on October 8, received approval from the Securities and Exchange Board of India (SEBI) Technical Advisory Committee to launch a new web-based commodity derivatives platform (CPD). “SEBI Technical Advisory Committee has recommended that MCX and MCXCCL may Go-Live with the CDP and to intimate
A help wanted sign on a storefront in Ocean City, New Jersey, US, on Friday, Aug. 18, 2023. Surveys suggest that despite cooling inflation and jobs gains, Americans remain deeply skeptical of the president’s handling of the post-pandemic economy. Photographer: Al Drago/Bloomberg via Getty Images Al Drago | Bloomberg | Getty Images Inflation is “always
Share: Canadian Dollar market flows turn bullish following US & Canada labor data prints. Canada Unemployment Rate flat at 5.5%, US unemployment holds at 3.8%. US NFP handily beats expectations with slightly softer earnings. The Canadian Dollar (CAD) is climbing to fresh highs, set to challenge Monday’s trading range following a bumper labor data release,
Avalanche-based Web3 social media app Stars Arena announced that it has secured the funding to cover the $3 million hole left by an exploit on Oct. 6. The team also added that it will re-open the smart contract once a full security audit has occurred. In an announcement on X, the Stars Arena team noted:
US stocks are lower with the NASDAQ and S&P index each down about -0.67%. US yields are higher with the 30 year yield at 5.0%. The 10 year yield moved up to a new high for the year at 4.887% before rotating modestly to the downside of 4.834% currently. The US dollar moved higher versus
Just last week, White House National Security Adviser Jake Sullivan talked about how “quiet” the Middle East was. “I emphasize for now, because all of that can change, and the Middle East region is quieter today than it has been in two decades,” he said. It’s not anymore. Hamas launched a massive attack against Israel
Gold prices gained on Friday, helped by a technical rebound after a nine-day losing streak, although robust U.S. jobs data raised worries over another U.S. rate hike and kept bullion on track for its second weekly drop. Spot gold was up 0.6% at $1,831.09 per ounce by 1:41 p.m. EDT (1741 GMT) but on track
The U.S. labor market saw broad gains in September in a surprisingly strong jobs report that sparked a quick sell-off in the bond market. The strongest sector for job growth in September was leisure and hospitality, according to the Bureau of Labor Statistics. The 96,000 net jobs gain last month was more than the combined
Share: Mexican Peso gained on Friday but printed more than 4% weekly losses. Mexico’s economic docket will feature inflation data in the next week. USD/MXN set to extend its gains after printing a new cycle high at around 18.48. Mexican Peso (MXN) finished the week with solid gains vs. the US Dollar (USD) on Friday
Whether you like the price action or not, the technicals in the EURUSD told the story for the price action. Initially, the price moved sharply lower after the stronger-than-expected nonfarm payroll add. That move took the price to a key support level at 1.0483. I’ve outlined that level as a key downside target to get
It’s all happening in the Middle East once again this weekend. A surprise attack by Hamas on Israel set off a strong response in something that will rekindle instability in the region. I doubt Israel headlines move markets but the violence comes at the same time that the US looking for some kind of peace
Spot gold snapped its nine-day long losing streak to settle with a gain of 0.69% at $1,833 on Friday. US employers added 336k jobs versus the forecast of 170k jobs in September as a two-month payroll net revision was noted at +119k. The unemployment rate came in at 3.8%, which was slightly higher than the
In a week brimming with financial intricacies, the most surprising element was the remarkable bounce-back in US stocks post the release of the compelling non-farm payroll report. Conventional wisdom would suggest that such a robust report would serve to reinforce Fed’s inclination towards prolonging its restrictive monetary policy, even if it doesn’t proceed with another
People pump gas into their vehicles at a Shell petrol station on October 2, 2023 in Alhambra, California. Frederic J. Brown | Afp | Getty Images The U.S. economy has added more than 2.3 million jobs this year, the unemployment rate is still below 4% and there are nearly 10 million open positions out there
Share: EUR/USD catches a firm lift post-US NFP release, climbing 1.12% from the day’s bottom. Broad-market flows have gone firmly risk-on following a bumper NFP reading for the USD. Euro traders will be looking ahead to Monday’s investor confidence indicator for October. The EUR/USD climbed 117 pips from Friday’s bottom bids of 1.0482 to tap