The USDs rise is being retraced as the stocks also rebound. The GBPUSD is ticked to a new session high. The Asian session high reached one point to 297. The high price just ticked to 1.22992 just short of the 1.2300 natural resistance level. Yesterday the high price reached 1.23082. Looking at the hourly chart,
Gold prices were flat on Friday but set for their best week in three ahead of the U.S. jobs report, helped by the dollar’s retreat on expectations that the U.S. Federal Reserve will slow the pace of interest rate hikes. FUNDAMENTALS * Spot gold was little changed at $1,800.78 per ounce as of 0037 GMT,
Job growth was much better than expected in November despite the Federal Reserve’s aggressive efforts to slow the labor market and tackle inflation. Nonfarm payrolls increased 263,000 for the month while the unemployment rate was 3.7%, the Labor Department reported Friday. Economists surveyed by Dow Jones had been looking for an increase of 200,000 on
The USD/JPY retraced from daily highs of 120 pips, as the USD is being offered. USD/JPY: Daily close below the 200-DMA opens the door for a drop to 131.70s. The US Dollar (USD) gave away its earlier gains courtesy of upbeat economic data revealed in the United States (US) and dropped 0.52% against the Japanese
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Gold has seen its price move lower on the back of the stronger than expected US jobs report and higher dollar. But as they dollars gains have been eroded, the price of gold has likewise seen a rebound back to the upside. The price has moved back above its 200 day moving average (green line
The US dollar has given back most of its gains and the initial hawkish reaction to the non-farm payrolls report has been largely erased. That probably reflects that non-farm payrolls are a lagging indicator and that the Fed has already signaled slowing rate hikes to 50 bps. In short, the report wasn’t strong enough to
Urad, and Moong. In the crop year 2022-23, Tur production would remain lower by 9.8% year on year to 3.47 MMT against 3.84 MMT in the previous year. Tur production would drop in Karnataka by 10% to 0.84 MMT, in Maharashtra by 23% to 0.90 MMT and in Telangana by 42% to 0.15 MMT while
The tone of the markets was well set by Fed Chair Jerome Powell’s indication of smaller rate hike in the upcoming FOMC meeting. The biggest reactions were found in treasury yields, which decline was surprisingly steep. US stocks ended higher but upside momentum appeared to be diminishing. Dollar was sold off broadly and closed as
The U.S. job market beat expectations again in November, adding 263,000 payrolls led by the service sector. Leisure and hospitality was the top category for job gains, according to a report from the U.S. Bureau of Labor Statistics, adding 88,000 jobs. Roughly 62,000 of those jobs were in food and drink services, the report said.
NZD/USD is set to finish the week with gains of 2.56%. The November US Nonfarm Payrolls suggested a tight labor market, so the Federal Reserve needs to keep hiking rates. NZD/USD Price Analysis: Daily close above 0.6400 exacerbates a rally towards 0.6570s. The New Zealand Dollar (NZD) climbed against the US Dollar (USD) for the
The price of crude oil futures settled at $79.98. That is down -$1.24 or -1.53%. The OPEC+ meeting will take place virtually on Sunday. No change in production is expected. The price cap looks to be set at $60 for Russian oil The Russian sanctions will also go into effect cutting off all imports of
We’re back to where we started. US markets have completely erased the moves after the strong non-farm payrolls report. The S&P 500 is now down just 5 points to 4071 and on track for a weekly close above 200-day moving average for the first time since April. It’s an impressive performance. More curious is the
The US has welcomed the USD 60-per-barrel price cap on Russian oil, describing it as an “important tool” that will benefit emerging markets and low-income economies and further cripple President Vladimir Putin‘s finances used to fund his “brutal invasion” on Ukraine. The European Union reached a deal on Friday for a USD 60-per-barrel price cap
Yen and Dollar rise broadly in Asian session today while Australian Dollar leads commodity currencies lower. Markets are trading with risk-off sentiment, with deeper selloff in China and Hong Kong markets. Large scale protests were carried out in multiple cities in China over the weekend, and the theme has escalated from anti-lockdown to anti-President Xi