Gold rose sharply on Thursday for the second day in a row. According to economists at Commerzbank, the release of the Non-Farm Payrolls could mean further upside potential for the yellow metal.. Gold gets a boost from the US dollar “Gold is getting a tailwind from the US dollar, which has been prone to weakness […]
Tag: NFP
Forex Today: Markets Turn Cautious Ahead of May US Employment Report.
This is what you need to know to trade today Friday June 3: Following Wednesday’s decisive bounce, the US dollar index lost its traction and erased much of its weekly gains on Thursday. Markets remain relatively quiet early on Friday as investors await US Non-Farm Payrolls (NFP) data for May. US stock index futures are […]
EUR/USD recovers around 1.0700 although remains capped by the 50 DMA ahead of the NFP report
EUR/USD is up around 0.5% on Thursday as US yields slide amid mixed US jobs data ahead of Friday’s NFP. The pair has bounced around 1.0700, although it remains capped below its 50 DMA. Dollar bulls could return if Friday’s US employment data reveals higher-than-expected wage growth. The pair EUR/USD rallied on Thursday, although unable […]
GBP/USD lowers but remains around 1.2350 after upbeat US NFP report.
GBP/USD will end the week with heavy losses of 1.74%. Positive US jobs numbers and BoE speeches keep sterling under pressure. GBP/USD Price Forecast: Remain biased to the downside unless GBP bulls retake 1.2600. Sterling appears to be regaining its composure but continues to lose on the day, down 0.06%, after the Bank of England […]
AUD/USD Falls to Multi-Day Lows, Approaches 0.7050 Amid Demand Revival/Risk Aversion
AUD/USD moderated the post-NFP rally and fell to a fresh multi-day low. Rising US bond yields acted as a tailwind for the USD and put pressure on it. A sustained break below the monthly low will set the stage for further losses. The pair AUD/USD reversed an early North American session high to the 0.7135 […]
USD/CAD jumps to a new daily high around 1.2875 after US/Canada jobs data
USD/CAD attracted some buying and updated the daily high during the early American session. Expectations of further Fed tightening acted as a tailwind for the USD and extended support. The mixed US/Canada employment data did little to provide any significant lift to the pair. A rally in crude oil prices underpinned the loonie and prevented […]
EUR/USD pulls away from 1.0600 after US jobs report.
The dollar recovers after an initial drop after the employment report. Nonfarm payrolls up 428,000, more than the 391,000 consensus. EUR/USD held back by 1.0600 loses steam and erases gains. The EUR/USD lost steam after the US jobs report. It had initially rallied closer to 1.0600 but then reversed direction and dropped below 1.0550. Treasury […]
USD/JPY steady below 130.50 after NFP report
USD/JPY struggled to preserve modest intraday gains to weekly high amid some USD selling. The mixed US monthly employment report did little to impress USD bulls or provide any impetus. Policy divergence between the Fed and the BoJ continued to lend support to the pair and helped limit losses. The pair USD/JPY trimmed its modest […]
AUD/USD remains defensive below 0.7100 ahead of NFP
AUD/USD witnesses some continuation selling for the second day in a row on Friday. Bulls seem unimpressed by aggressive RBA outlook and modest USD weakness. The market’s focus continues to be on the release of the latest US monthly NFP jobs report. The pair AUD/USD maintains its selling tone during the first half of the […]
‘Sell the bounce’ as bear flag remains in play
GBP/USD is still “selling the bounce” after hitting 22-month lows. Risk aversion and BoE recession projections keep any rebound in GBP/USD limited. Confirmation of a bearish flag on the 4-hour chart points to more GBP/GBP pain. GBP/USD is bouncing back above 1.2300, quickly recovering from fresh 22-month lows hit at 1.2276 in the last hour. […]
