Share: WTI rose above $83.00 to its highest point since mid-April, seeing more than 1.70% gains. The WTI barrel will set a sixth consecutive winning streak, and indicators flash overbought conditions. The USD weakened following NFPs figures revealing a deceleration of job creation in July. At the end of the week, the West
Share: Following weak US data, EUR/USD climbs to a new weekly high above 1.1004. The July US Nonfarm Payrolls report gave mixed signals, with fewer people adding to the workforce while wages increase. Germany reported strong factory orders for June, but soft Retail Sales in the EU came in at -0.3% MoM, dampening
Share: A relatively quiet week is expected in terms of economic events, with no central bank meetings scheduled. However, a critical economic report to watch out for is the US Consumer Price Index (CPI) on Thursday. Here is what you need to know for next week: The US Dollar pulled back on Friday,
Share: Data released on Friday showed that Nonfarm Payrolls in the US rose by 187,000 in July, falling below the market consensus of 200,000. June’s figures were also revised lower to 185,000, marking the lowest level since December 2020. Analysts at Wells Fargo point out that the slower pace of hiring in July
Share: GBP/USD rises 0.34%, trading at 1.2755, as soft US jobs data fuels speculation the Fed may end its tightening cycle, providing support to the Sterling. Technical analysis indicates potential for short-term gains but highlights the importance of 1.2800 resistance. Key support and resistance levels were identified, including 20-day EMA at 1.2819 and
Share: GBP/USD registered modest gains on Friday after a soft US jobs data report spurred speculations the US Federal Reserve (Fed) might end its tightening cycle. Nevertheless, failure to crack the 1.2800 figure would likely keep the Sterling (GBP) pressured in the medium term. The GBP/USD trades at 1.2755, a gain of 0.34%
Share: GBP/JPY retreated towards the 181.00 area and cleared most of its weekly gains. Investors continue to digest BoE’s decision on Thursday. Governor Ueda committed that the BoJ will be more flexible with the 10-year JGB. On Friday, the JPY traded mixed against most of its rivals, mainly because of Governor Ueda’s from
UPCOMING EVENTS: Monday: Canada Holiday, Swiss Unemployment Rate, BoJ’s Summary of Opinions. Tuesday: NFIB Small Business Optimism Index. Wednesday: China CPI. Thursday: US CPI, US Jobless Claims. Friday: Japan Holiday, UK GDP, US PPI, University of Michigan Consumer Sentiment. Monday: The BoJ’s Summary of Opinions will be scrutinised by market participants for details and clues
Share: Data released on Friday showed the Canadian economy lost 6,400 jobs in July, against consensus of a 21,100 increase. Analysts at CIBC point out there were further signs of loosening within the Canadian labour market in July, with a slight dip in employment contributing to another uptick in the unemployment rate.They warn
The US dollar is broadly slumping as Treasury yields fall and dollar bulls take profit. The soft non-farm payrolls headline is winning the day and there’s a UBS note circulating (aided by Nick Timiraos) that argues that next month’s average hourly earnings number will be low. Fed pricing hasn’t changed with about 9 bps of
