The US dollar is at fresh session lows as Treasury yields slip. Earlier I highlighted dollar selling but noted that the bond market wasn't a part of the move. That may be changing now with US 10-year yields down 3 bps and 2s down 6.7 bps.The soft jobless claims number...
US stocks trading mixed with the NASDAQ marginally higher.The Dow industrial average lower
With the US stocks now 15 minutes into the new trading day, the major indices are mixed. The Dow industrial average is marginally lower. The S&P is near unchanged and the NASDAQ index is marginally higher. A snapshot of the market currently shows:Dow industrial...
USDJPY rotates lower and back below the 100/200 hour MA. Ups and downs continue.
The USDJPY moved lower after the initial jobless claims moved to new 20-month highs. The data, pushed the USDJPY back below its near converged 100/200 hour moving averages at 139.70. Those moving averages are not risk-defining levels for sellers looking for more...
Gold regains losses, USD dives post claims data!
The Dollar extends decline on the climb of initial jobless claims retesting 20-day SMA, at 103.50, extending its slump from an overnight high. The pop higher in initial jobless claims helped lower the temperature on Fed rate hike fears. Significant is the fact that...
Cryptocurrencies under renewed pressure
Market pictureThe cryptocurrency market capitalisation fell 1.8% to $1.1 trillion over the last 24 hours as risky assets lost traction, dragging the Nasdaq lower. Markets were surprised by interest rate hikes in Australia and Canada, raising the chances of a similar...
Gold recoups most of yesterday’s losses as the US dollar sags
Gold 10 minsGold took a dive yesterday as the US dollar strengthened and Treasury yields rose but today it's unwinding. Gold is up $20 and has nearly erased all of yesterday's losses.That comes with the US dollar softer across the board in part due to a poor initial...
EURUSD runs to swing area after weaker jobs data
The initial jobless claims for the current week rose to the highest level in 20 months and that has weakened the US dollar in the process. Looking at the EURUSD, the price action saw the pair move up to a swing area between 1.0747 and 1.0759, but is finding sellers...
USDCHF moves lower after SNB comments and US jobs data
The USDCHF has moved sharply lower after SMB's Jordan spoke to more persistent than we thought inflation, and the much higher US jobless claims moved US rates lower and the US dollar lower as well. The USDCHF moved to a swing area between 0.9025 and 0.9035. The 38.2%...
US dollar slumps as initial jobless claims hit highest since 2021. Fed hike odds at 25%
The US dollar was slumping before the weekly initial jobless claims data but fell further afterwards as yesterday's US dollar strength unravels.USDJPY 10 minsInitial jobless claims rose to the highest since 2021 in a surprise spike that could be an indicator of...
US initial jobless claims for the current week 261K vs 235K estimate
Initial dollars claimsPrior week 232K was revised to 233KFor the week ending June 3, the seasonally adjusted initial claims stood at 261,000, an increase of 28,000 from the previous week's revised level of 233,000. This is the highest level of initial claims since...
SNB’s Jordan: Inflation is more-persistent than we thought
SNBs JordanReally important to bring Swiss inflation to level of price stabilityWhen inflation remains under 2% for a long time, we do not have a problemThere's some major re-writing of history here. When inflation was under 2% for a long time, they were printing...
Initial jobless claims and the BOC’s Beaudry highlight the eocnomic calendar
The US economic calendar continues to be light this week.Today's highlight is the weekly initial jobless claims report. In Feb-March, it looked like claims were running higher but they stabilized and then fell in May.US initial jobless claimsThis week, the consensus...
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The AUD is the strongest and the USD is the weakest as the North American session begins
The strongest to the weakest of the major currenciesThe AUD is the strongest and the USD is the weakest as the North American session begins. The RBA raised rates earlier this week. The BOC did the same yesterday in what was considered a surprise (although there was...
ForexLive European FX news wrap: Dollar eases slightly in quiet trading
Headlines:Markets:AUD leads, USD lags on the dayEuropean equities mildly higher; S&P 500 futures flatUS 10-year yields up 3.1 bps to 3.814%Gold up 0.3% to $1,946.44WTI crude up 0.8% to $73.14Bitcoin up 0.3% to $26,435It was a rather slow and quiet session as there...
Fed call looks to go right down to the wire
It's been yet another lackadaisical session mostly and while there is some dollar softness, it isn't anything that stands out when put into context of the moves since Friday last week. Trading sentiment this week has been mired by a general sense of waiting and...
GBPUSD Technical Analysis – Looking for a breakout
The most recent NFP report, released last Friday, once again outperformed expectations, extending its impressive winning streak to 14. However, upon closer analysis, the report revealed some less favourable details. The unemployment rate experienced a significant...
Dollar nudges slightly lower on the day
A little higher, a little lower, and all around we go. That's the mood in markets this week as we continue the slow countdown to the US CPI and Fed decision next week. The dollar is now slightly lower on the day as major currencies are stretching their previously...
Eurozone Q1 final GDP -0.1% vs +0.1% q/q second estimate
Following a lower set of revisions, the euro area economy marginally contracted in Q1. Meanwhile, the annual reading is also revised lower to +1.0% from the +1.3% reading from the second estimate. The negative quarterly reading means that the euro area suffered a...
Gold continues to hold on at key technical support for now
Gold (XAU/USD) daily chartGold is up 0.5% on the day to around $1,948 levels now but it has been a rather challenging last one week or so for buyers. We saw price crack back below the $2,000 mark last month and that continued towards a test of key support in the form...