The official US employment report showed that the US economy added 315,000 jobs in August, slightly above expectations of 300,000; the unemployment rate unexpectedly rose from 3.5% to 3.7%. According to Wells Fargo analysts, Today’s data, in isolation, tips the balance towards a 50 basis point interest rate hike at the Fed’s September meeting, but […]
Tag: United States
AUD/USD falls below 0.6800 ahead of US NFPs.
AUD/USD is still trading in the red, currently down 1.90%. Global factory activity slowed, with the exception of the US, which remains in expansion territory. AUD/USD: Could form an inverse head and shoulders if buyers keep prices above 0.6881; otherwise 0.6402 is the next target. On Thursday, the AUD/USD fell to seven-week lows amid a […]
US: Atlanta Fed GDP for the third quarter rises to 2.6%
According to the GDPNow model of the Federal Reserve Bank of Atlantathe US economy is expected to grow at an annualized rate of 2.6% in the third quarter, down from 1.6% in the previous estimate. “Following the release of this morning’s construction spending from the US Census Bureau and this morning’s manufacturing ISM business report […]
EUR/USD crashes below 0.9920
EUR/USD plummets almost 1% after encouraging US economic data. The US manufacturing PMI shows that the US economy remains in expansion territory. The money market futures odds of a 75 basis point rate hike by the Fed stand at 75%. The EUR/USD breaks below parity, extending losses after hitting a weekly high of 1.0079 on […]
US: Unit labor costs rise 10.2% in the second quarter vs. 10.7% expected
Unit labor costs rose at a softer-than-expected pace in the second quarter. The US Dollar Index remains in positive territory above 109.00. Unit labor costs in the non-farm business sector increased 10.2% in the second quarter of 2022, the US Bureau of Labor Statistics (BLS) reported on Thursday. This reading was lower than the market […]
US: House price index up 0.1% in June, vs. 1.1% expected
US house prices rose at a softer-than-expected pace in June. The Cholar Index remains down in the American session. Monthly data released by the US Federal Housing Finance Agency on Tuesday showed that the house price index rose 0.1% on a monthly basis in June. This data follows the increase of 1.3% in May and […]
The Fed will throw the US economy into a recession – Senator Elizabeth Warren
The Democratic US Senator Elizabeth Warrenhas expressed concern on Sunday about a possible recession in the US economy, criticizing the aggressive stance of Fed Chairman Jerome Powell. Featured Statements “You know what’s worse than high prices and a strong economy? It’s high prices and millions of people out of work. I am very concerned that […]
EUR/USD rises to fresh weekly highs, paring modest gains
EUR/USD hits a daily high of 1.0075, after sources report that ECB members are seeking a 75 basis point rate hike. The Fed’s favorite inflation gauge shows it’s slowing. FOMC Chairman Jerome Powell speaks at the Jackson Hole Symposium – live stream The shared currency regained parity, breaking back above the 1.0020 area on Friday, […]
GBP/USD hovers around 1.1800 after mixed US data, awaiting Powell’s speech
GBP/USD fluctuates throughout the day, with traders waiting for Powell’s comment on the matter. US growth in the second quarter improved but remains below the 0% threshold; a recession is looming in the US Money market futures expect the Bank of England to raise rates by 250 basis points by May 2023. The GBP/USD rose […]
USD/CAD falls below 1.2950 on USD weakness ahead of Powell’s speech
USD/CAD was down 0.15% on Thursday as market traders brace for further hawkish rhetoric from the Fed. The US GDP figure for the second quarter, although better than expected, remains in recession territory. USD/CAD Price Analysis: Traders Regain 1.3000 to Open Door to Test All-Time Highs; otherwise a drop to 1.2800 is possible. The USD/CAD […]
