Trend traders gather ’round! GBP/NZD may be in for a bearish swing as it struggles to make new September highs near a key resistance zone. Will it lead to the pair extending its months-long downtrend? GBP/NZD 4-hour Forex Chart by TradingView The New Zealand dollar is recovering from when traders worried about China’s data releases and U.S. and global…
German DAX futures -0.1% French CAC 40 futures +0.1% UK FTSE futures -0.1% S&P 500 futures are down by 0.1%, Nasdaq futures down by 0.4%, while Dow futures are up by 0.1%. At the balance, risk is a little softer with bond yields holding lower today. That is helping to pin USD/JPY down as well at 142.55 currently, down…
GBP/USD gains traction near 1.3180 in Friday’s Asian session. US ADP private sector employment rose 99,000 in August vs. 111,000 prior. Investors see a roughly one-in-four chance that the BoE will cut rates in the September meeting. The GBP/USD pair trades in positive territory for the third consecutive day around 1.3180 on Friday during the Asian trading hours. The…
When the markets are hotly debating the Fed’s next policy moves, U.S. labor market updates – which Fed members said they’re looking closely at – are guaranteed to make market players jittery. On Thursday, a report from Challenger, Gray, & Christmas reflected 75,891 planned job cuts in August, the highest August total since 2009 (excluding 2020). Not only that,…
The data from earlier is here: Japan data – July household spending +0.1% y/y (expected +1.2%) Consumer spending +0.1% in July y/y compared with the median market forecast for 1.2% month-on-month saw it slump 1.7% against the -0.2% expected Admittedly other data points are more encouraging for the Bank of Japan, notable wages from earlier this week:’ Japanese rising…
Global assets were once again all over the place on Thursday as individual catalysts pushed them around. In the U.S., mixed labor market updates led to a choppy trading environment and eventually weaknesses for the U.S. dollar. How did your favorite assets trade yesterday? We have the deets! Headlines: Japan average cash earnings fell from 4.5% to 3.9% y/y…
The People’s Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead. USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate. CNH is the offshore yuan. USD /CNH has no restrictions on its trading range. A significantly stronger or weaker rate than expected is typically…
Japan JP Foreign Reserves: $1B (August) vs previous $1219.1B
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you…
Gold rises above $2,500, peaking at $2,523 before profit-taking ahead of key US economic data. Traders price in over 104 bps of Fed easing, expecting rate cuts to maintain labor market stability. Falling US Treasury yields and a weaker US Dollar support further upside in Gold prices. Gold prices rallied sharply during the North American session, above the $2,500…
