Share: USD/CAD strengthens due to the Fed’s hawkish tone on interest rates trajectory. Stronger US jobs data bolster the US yields; contributing support for the US Dollar. Downbeat Crude oil prices put pressure on the Canadian Dollar. USD/CAD traces the upward path on the fourth successive day, trading higher near 1.3710 during the
Share: JOLTS report will be watched closely by Fed officials ahead of September jobs data. Job openings are forecast to hold steady at around 8.8 million on the last business day of August. US labor market conditions remain out of balance despite Fed rate hikes. The Job Openings and Labor Turnover Survey (JOLTS)
The changes among major currencies are mostly relatively light so far on the day, outside of the antipodeans. EUR/USD is flattish around 1.0480 now and seen holding within a 34 pips range only today. There are large option expiries at 1.0495 that are in play to keep price action pinned just below 1.0500. Meanwhile, USD/JPY
Last week inflation data for the eurozone came in weaker than expected, giving a glimpse of hope that it will continue to drop in the near future. However, overall inflation remains elevated and the rising energy prices might exert additional pressure in the coming months. That said, the ECB is likely to keep rates on
UPCOMING EVENTS: Monday: BoJ Summary of Opinions, Swiss Retail Sales, Eurozone Unemployment Rate, US ISM Manufacturing PMI. Tuesday: RBA Policy Decision, Swiss CPI, US Job Openings. Wednesday: RBNZ Policy Decision, Eurozone Retail Sales, Eurozone PPI, US ADP, US ISM Services PMI. Thursday: US Challenger Job Cuts, US Jobless Claims. Friday: Japan Wage data, Swiss Unemployment
Forex traders utilize Fibonacci retracements to aid in identifying possible key levels of support and resistance. These levels are used as guidelines for traders looking to enter or exit the market along with appropriate risk management techniques. HOW TO CREATE A FIBONACCI RETRACEMENT ON A FOREX PAIR Before delving deeper into practical examples, traders need to have a
Having already raised $500K in less than 48 hours, Memeinator has already stormed through to stage 3 of its presale, on its relentless mission to redefine the meme coin sector. The project’s grand vision was born from the frustration of seeing relentless false promises and overhyped coins, that were endless parodies of each other replete
© Reuters. The Bank of Mauritius is currently experimenting with the launch of a digital rupee, as confirmed by its Governor Harvesh Seegolam at the Bloomberg Financial Forum on Wednesday. This development is part of the central bank’s initiative to modernize its financial services sector and position itself as a multinational treasury headquarters hub. The
© Reuters. The Pound (GBP) experienced further losses on Friday, rounding off a challenging week marked by a deepening contraction in the U.K.’s service sector activity, according to the latest survey. This development has intensified recession fears and fueled expectations that the Bank of England (BoE) has concluded its interest rate hikes. The Confederation of
Share: Gold prices see a recovery, achieving gains of 0.25%, driven by a reversal in US bond yields, with the 10-year note coupon dropping from a 16-year high of 4.51% to 4.44%. Federal Reserve officials express a cautious stance, emphasizing the need for patience despite the necessity for further rate hikes to control
