While the US delivers a set of solid non-farm payroll data, Dollar struggles to ride on it to extend the near term rebound. On the other hand, the report is being cheered by stocks investors, with futures shooting higher. Thus, risk-on sentiment is capping the greenback’s rally attempt. Softer than expected wage growth might be
Commuters arrive into the Oculus station and mall in Manhattan on November 17, 2022 in New York City. Spencer Platt | Getty Images The U.S. unemployment rate declined overall in December, but rose for Black women and Hispanic men, according to the latest nonfarm payrolls report. Black women saw unemployment increased to 5.5% last month,
In this article STZ Follow your favorite stocksCREATE FREE ACCOUNT A worker stacks cases of Constellation Brands’ Corona beer for delivery at the Euclid Beverage LLC warehouse in Peru, Illinois. Daniel Acker | Bloomberg | Getty Images Shares of Constellation Brands fell Thursday after the wine, beer and spirits company reported ongoing supply chain costs that
Greenback drops sharply after NFP and ISM service sector. US yield falls to multi-day lows, commodities rebound. NZD/USD reverses from monthly lows, and trims weekly losses. The NZD/USD has risen a hundred pips from the daily low and it is trading at 0.6290, with a solid bullish tone supported by a broad-based USD decline. The greenback
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Yesterday, the USDCAD moved sharply lower despite the fact that oil prices were tumbling to the downside. Below is the post on the pair. Here is the link: https://www.forexlive.com/technical-analysis/oil-is-down-350-but-usdcad-is-lower-by-134-20230104/ Maybe the move to the downside (higher CAD ) was off the AUD strength. Remember it moved higher on the fundamental story that China would look
If the reaction to yesterday’s hot ADP data is anything to go by, market participants are really looking for a theme to latch on to as we start the new year. But as a fair warning, it is just ADP numbers at the end of the day. The US non-farm payrolls report will be of
Oil prices rose around 1% on Friday, extending gains from the previous trading session after data showed lower fuel inventories following a winter storm that hit the United States at the year end. Brent crude futures last gained 79 cents, or 1%, to $79.48 a barrel at 0203 GMT, after settling up 85 cents at
The forex markets are largely in tight range in Asian session today. Dollar is currently the strongest one for the week, after the rally attempt overnight. But traders are still holding their bets ahead of today’s non-farm payroll data. For now, Canadian Dollar is the second best, followed by Aussie. Yen is the worst performer,
Advancing anxiety ahead of the US NFP release has underpinned the risk-off impulse. S&P500 futures have witnessed a drop in their early gains, portraying negative market sentiment. The upside in the Loonie asset is capped around 1.3700 while the downside is restricted near 1.3500. The USD/CAD pair has rebounded firmly after dropping to near 1.3550
The momentum to the upside in the USDJPY has continued. Technically, the price raced above the 38.2% after the better ADP/initial claims data at 132.81. The price also moved above the 50% of the 2022 trading range for the pair on the daily chart below at 132.70. That midpoint was tested yesterday and stalled the
The Canadian dollar is weakening today with USD/CAD up 95 pips to 1.3573. That’s mostly from the US dollar side of the equation but I worry that the Canadian consumer could weaken more than markets are anticipating this year as mortgage resets bite. Canadian trade balance missed estimates today in a surprise fall into a
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Dollar rises broadly in early US session as lifted by stronger than expected ADP private job data. Meanwhile, stock futures turn south, apparently triggered by affirmation of continuous tightening by Fed. Yet, traders would still hold the larger bets until tomorrow’s non-farm payrolls data. For now, Swiss Franc is following the greenback as the second
The jobs market closed out 2022 on a high note, with companies adding far more positions than expected in December, payroll processing firm ADP reported Thursday. Private payrolls rose by 235,000 for the month, well ahead of the 153,000 Dow Jones estimate and the 127,000 initially reported for November. While the goods-producing sector increased by