Share: USD/CAD bulls got rejected at the 200-day SMA and retreated near the 1.3420 area, still poised for a weekly gain US PPI rose to 2.4% YoY in July, higher than expected. Higher Oil prices help the CAD trade strong against most of its rivals. At the end of the week, the USD/CAD
Share: NZD/USD bounces off the two-month lows and holds ground near 0.6060 on Wednesday. The downbeat Chinese trade data exerts some pressure on the Kiwi. The US trade deficit narrowed sharply in June; Imports fell to the lowest level since November 2021. Investors await Chinese inflation data, New Zealand inflation expectations report. The
Share: USD/JPY is expected to keep the 140.00-143.30 range for the time being, according to Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: We did not expect the sharp drop that sent USD tumbling to a low of 141.54 (we were expecting it to trade
Share: NZD/USD consolidates in a narrow trading band through the early Asian session on Monday. The US wage inflation and employment data showed mixed results on Friday. The Federal Reserve (Fed) is likely to maintain tightening monetary policy far beyond 2024. The US Consumer Price Index (CPI) for July will be the key event to watch
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: 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: US Dollar weakens across the board after NFP. Nonfarm Payrolls rise by 187,000 in July, below the 200,000 of market consensus. USD/CHF falls for the second day in a row, still up for the week. The USD/CHF reached a four-day low at 0.8699 on Friday, following the release of US jobs data.
Share: USD/CAD reversed its course during the American session and got rejected by the 100-day SMA, falling to near 1.3335. NFPs showed that job creation in July cooled down while wages increased. Canada reported soft labour market and economic activity figures. On Friday, the USD/CAD cleared daily gains and fell into negative territory
Share: Analysts at Rabobank see the US Dollar appreciating against the Euro and the Pound over the next few months. They point out that the relative resilience of the US economy suggests that it will be some time before monetary policy is eased. Key quotes: “Fitch’s decision to downgrade the US credit rating
Share: NZD/USD jumped above the 0.6100 threshold but is poised to close a third consecutive weekly loss. Headline NFPs came in lower than expected, while wages increased in July. The focus is set on next week’s CPI figures from July. At the end of the week, the NZD/USD rosed but will close a
