It's non-farm Friday and this edition comes with the Canadian jobs report as well.If the US data beats estimates, it will be the 15th consecutive beat, which is an insane run. The consensus is 225K, from 339K a month ago. The market has surely priced in something...
The JPY is the strongest and the CHF is the weakest as the North American session begins.
The strongest to the weakest of the major currenciesThe JPY is the strongest and the CHF is the weakest as the North American session begins.Overnight, Bank of Japan Deputy Governor Uchida, in an interview with Nikkei media, said that the central bank plans to...
ForexLive European FX news wrap: Yen gains, NFP coming up next
Headlines:Markets:JPY leads, USD lags on the dayEuropean equities mixed; S&P 500 futures down 0.1%US 10-year yields up 1.9 bps to 4.059%Gold up 0.3% to $1,916.72WTI crude up 0.5% to $72.15Bitcoin down 0.5% to $30,169It's all about the US jobs report today and that...
European indices keep more mixed on the day now
There's not much of direction so far on the session and you can understand why there is that sense of apprehension. Everyone is waiting on the US non-farm payrolls later and it's tough to gather much conviction at the moment. European stocks started the day with...
Top five benefits of PrimeXBT copy trading explained
In financial markets, where time, knowledge, and experience are paramount, copy trading has become a transformative tool for investors. Copy trading platforms connect individuals with successful traders called strategy managers, revolutionizing the way people...
ECB’s de Guindos: Evolution of core inflation will be key to future policy decisions
What happens in September is an open questionWe need clear indications that inflation will converge to 2% targetServices inflation is much more persistentThey are not going to pre-commit to anything in September and that has been a pact that every one of them has been...
ECB’s de Guindos: We will continue to follow a data-dependent approach
We are now beginning to see impact of rate hikes on parts of the economyOur job is not yet doneWhile underlying price pressures remain strong, most indicators have started to show some signs of softeningServices inflation and labour costs need to be closely...
Yellen says US seeking healthy competition with China
We're not after a winner-take-all approachUS, China should not allow disagreements to lead to misunderstandings that worsen bilateral tiesMeanwhile, China's premier Li says that ties between the two countries will see a "rainbow" after the wind and rain. Well, he...
USDCAD Technical Analysis – Waiting for the NFP report
The US data has been consistently surprising to the upside since the last FOMC meeting, and this has led to a more hawkish pricing in interest rates expectations. Fed Chair Powell and other Fed members have also reiterated that two or more rate hikes can be...
US non-farm payrolls the main focus, but have the numbers been severely overestimated?
This is pretty much a rehash from my post earlier but perhaps it deserves a second shout."Are the job figures that are reported being severely overestimated?That could definitely be the case, if this report by the Wall St Journal is anything to go by.The case in point...
Market Update – July 7 – US is hiring now
And that’s great news, especially since the average 30y fixed mortgage rate has risen to 7.22% according to Mortgage News Daily and the monthly payment for a 200k mortgage has risen by $50 in one week. The ADP Employment Change data yesterday doubled...
European equities mostly lower at the open today
Eurostoxx -0.1%Germany DAX -0.2%France CAC 40 flatUK FTSE -0.5%Spain IBEX -0.6%That comes after a bit of a rout yesterday but the overall risk mood now is starting to lean towards more cautious territory again. S&P 500 futures are down 9 points, or 0.2%, after a...
France May trade balance -€8.4 billion vs -€9.7 billion prior
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,...
USD/JPY keeps heavier ahead of European trading
USD/JPY daily chartWe did see the pair threaten a firmer drop below 144.00 yesterday, only to be salvaged by a bounce in US trading. Right now, we're seeing the heavy mood continue with a drop to 143.50 ahead of European trading.This comes as Treasury yields come off...
Germany May industrial production -0.2% vs 0.0% m/m expected
Prior +0.3%German factory output declined in May but if you strip out energy and construction, industrial production was actually up by 0.2% on the month. The production of capital goods increased by 1.3%, while that is offset by declines in consumer goods (-1.2%) and...
UK June Halifax house prices -0.1% vs 0.0% m/m prior
Prior 0.0%; revised to -0.2%House prices -2.6% y/yPrior -1.0%; revised to -1.1%This marks a third consecutive monthly decline for US house prices, with the typical UK property now costing £285,932 as compared to the peak in August last year at £293,992. Halifax notes...
Switzerland June seasonally adjusted unemployment rate 2.0% vs 2.0% expected
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,...
Trade ideas thread – European session 7 July 2023
Hot and cold. That was the dollar reaction yesterday after the ADP numbers and it's going to be a tricky one in identifying which temperature the greenback will settle at after the NFP numbers today. The bond market continues to signal higher rates for longer though,...
BOJ likely to hold off YCC tweak in July, says ex-central bank official
BOJ likely to keep its forecasts for 2024 and 2025 roughly unchangedThat is a sign that it is not yet convinced that 2% inflation can be achieved sustainablyThere is positive signs on inflation and wagesBut not sure if that is enough to make the BOJ turn more hawkish...
ECB’s Lagarde: We still have work to do to bring inflation back down to our target
The priority is to maintain price stabilityInflation has started to declineA part of that is the initial impact of monetary policy decisionsBut inflation is still higher than the 2% target, still have work to doFull transcriptThere's nothing new in the interview that...