Prior was 53.5Non-seasonally adjusted at vs 60.1 priorThe Ivey PMI is a poor economic indicator. The Canadian dollar is stronger today as the market leans towards a hike next week, with pricing at 66%. Oil is also helping sustain the bid in the loonie and risk...
US dollar chops as non-farm payrolls leaves FX market uncertain about Fed’s next move
EURUSD 1 minThe FX market isn't quite sure what to make of today's non-farm payrolls report. The headline was soft but the wage data was hotter. The dollar initially moved lower on the headline but then rebounded. It's since began to drift modestly lower again.I lean...
US stocks open little changed after US jobs report
The major US stock indices are down/mixed. The NASDAQ index is trading above and below unchanged. The Dow industrial average is down about -0.20%.A snapshot of the market 6 minutes into the open is showing:Dow industrial average -76.27 points or -0.22% at 33846S&P...
Weekly Market Recap (03-07 July)
Monday: China Caixin/S&P Global Manufacturing PMI came in at 50.5 vs. 50.2 expected and 50.9 prior. China Caixin Manufacturing PMIThe Switzerland CPI Y/Y came in at 1.7% vs. 1.8% expected and 2.2% prior while the Core CPI Y/Y printed at 1.8% vs. 1.9% prior. The...
The USD moves lower initially after the US jobs report but with downside limitations
The USD moved lower after the headline nonfarm payroll came in weaker than expected, but the average hourly earnings were a bit higher and the unemployment rate dipped as well which has limited the declines in the greenback. EURUSD: The EURUSD moved up to test the...
Canada June employment change 59.9K vs 20.0K expected
Canada employment change greater than expectationsPrior -17.3KEmployment change 59.9Kversus 20.0 K estimateunemployment rate 5.4% versus 5.3% estimate. Last month 5.2%participation rate 65.7% vs 65.5% last monthfull-time 109.6K versus -32.7K last monthpart-time...
US June non-farm payrolls +209K vs +225K expected
Nonfarm payrollsPrior was +339K (revised to +306K)Two-month net revision -6K vs +93K priorUnemployment rate 3.6% vs 3.6% expectedPrior unemployment rate 3.7%Participation rate 62.6% vs 62.6% priorU6 underemployment rate 6.9% vs 6.7% priorAverage hourly earnings +0.4%...
A look at the EURUSD key technical levels ahead of the US jobs report
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,...
Locked and loaded for a 15th straight beat on non-farm payrolls
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...
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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...