USD / CAD gains positive traction for the second day in a row on Friday. Stronger macroeconomic data from the US revives rumors about the Fed’s phasing out and supports the USD. Bullish crude oil prices offer some support to the CAD and could limit the pair’s gains. The market focus continues to be on […]
Tag: NFP
GBP / USD recovers from nearly three-week lows and rises back to the 1.4120 zone
GBP / USD captures some lower levels on Friday and recovers a portion of the previous day’s losses. The optimistic economic outlook for the United Kingdom and the expectations of a rate hike from the Bank of England continue to provide some support to the pair. Rumors of the Fed’s gradual tightening support the USD […]
NZD / USD clings to modest gains around 0.7150, lacks continuation
NZD / USD witnesses a modest short coverage rebound on Friday amid oversold conditions. Upbeat US macro data on Thursday continues to prop up the USD and limit the pair’s gains. The focus remains on the monthly US NFP jobs report. The pair NZD / USD moves slightly higher during the European session on Friday, […]
USD / JPY Consolidates Near Two-Month Highs Above 110.00 Level
USD / JPY is moving in range during the first half of trading action on Friday. The bullish US data on Thursday continues to support the USD and offers some support for the pair. Nervousness ahead of the NFP benefits the safe-haven JPY and limits any significant rally in the pair. The pair USD/JPY it […]
Dollar resurfaces awaiting NFP, gold retreats, Musk breaks with Bitcoin
This is what you need to know to trade today Friday June 4: Markets are in a temporary calm ahead of critical Nonfarm Payrolls and after the dollar rose in response to a trio of bullish US figures.Gold is on the defensive amid rising U.S. bond yields. Treasure. Bitcoin suffers after Musk’s comments. Canada’s employment […]
NFP: A good report may put a brighter spotlight on the Fed’s phase-down speech
The US employment report will be released on Friday. The market consensus is a payroll increase of 650,000. According to Wells Fargo analysts, a weak report could reinforce expectations that the Federal Reserve will reduce its QE. Key statements: “The full reopening of the economy after a pandemic is not a continuous process and this […]
US: Unemployment rate to resume downtrend after surprising April surge
In a preview of next week’s key data release in the United States, “Payrolls probably rose sharply by pre-Covid standards, but we see some downside risk versus consensus again this month,” analysts at TD Securities. Featured statements: “Our forecast implies a still considerable net drop of 7.7 million from the pre-COVID level. The unemployment rate […]
White House sees strong GDP growth in 2021-2022
The White House expects strong GDP growth in 2021 and 2022, but sees it fall to 2% in 2023 before falling back to 1.8% through the mid-2020s, the NY Times reported Friday. As for the job market, the White House projects an unemployment rate of 3.8% starting in 2023. Market reaction This report does not […]
USD / CAD bears take control, looking at a probable correction
The USD / CAD decline is followed by the decline in the dollar and generally stronger commodity prices in the month of April and May. At the time of writing this report, the USD / CAD It is trading at 1.2084 and is down 0.3% after going from a high of 1.2103 to a low […]
USD / CHF falls further below 0.9000, the lowest level since February 24
USD / CHF continued to lose ground for the fourth consecutive session amid a sustained selloff of the USD. The Fed’s dovish expectations continued to act as a headwind for the dollar and put pressure on it. Risk appetite did not influence the safe haven CHF much or support the pair. The pair USD/CHF it […]