S&P 500 futures are up 57 points, or 1.1% ahead of the open while Nasdaq futures are up 1.5% and Russell 2000 futures up nearly 2%.The market is cheering a softer US jobs report that saw the unemployment rate tick higher to 3.9% from 3.8%. That led to broad...
US Dollar Slumps After NFPs Miss Expectations, US Equities Bid
US Dollar Slumps After NFPs Miss Expectations, US Equities Bid Recommended by Nick Cawley Get Your Free USD Forecast Get My Guide For all economic data releases and events see the DailyFX Economic CalendarThe latest US Jobs Report showed hiring slowed in April with...
Why this could be just the beginning for the downturn in jobs
Before today's non-farm payrolls report, I noted that the low estimate in the Refinitiv survey was from Ian Shepherdson at Pantheon and asked him why. One of the things he highlighted was the softening National Federation of Independent Businesses survey of hiring...
Risk-on sentiment might come back with vengeance
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,...
US dollar falls after jobs data softens
Officials in Japan finally caught a break today as softening US fundamentals give them something of a tailwind following their work to intervene in the currency. USD/JPY is down 154 pips to 152.11 on the day, falling nearly 100 pips on the April non-farm payrolls...
US average hourly earnings MoM 0.2% versus 0.3% expected. YoY 3.9% vs 4.0% 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,...
US March non-farm payrolls +175K vs +243K 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,...
Locked and loaded for the April edition of non-farm payrolls
It's a big day in financial markets as we get non-farm payrolls at 8:30 am ET followed by the ISM services report 90 minutes later.The dollar is moderately softer on the day ahead of non-farm payrolls in a sign of some position squaring ahead of the data. Since the...
ForexLive European FX news wrap: Dollar lags in run up to 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,...
Here is what to watch for an extreme surprise in the upcoming US jobs report (NFP) and PMI
I posted on this during the Asian timezone for those who were awake then. Full post is here, with much more info on why this is important.But, if you just want the numbers, here you go.First, the median consensus:Taking a look at the range of expectations compared to...
What are the Fed odds looking like ahead of the US jobs report?
As a whole for this year, traders are now looking at 40 bps worth of rate cuts. That is a step up from earlier this week, where it was roughly 31 bps. As for the timing of the first rate cut, a 25 bps move is now fully priced in for November at least. The odds of a...
S&P 500 E-mini futures technical analysis
The S&P 500 has been consolidating around the 5000-5100 range for more than two weeks now with the market awaiting the key US data as it's getting more and more wary of the inflation risk that could lead to more tightening. The more dovish than expected Fed's...
Federal Reserve Holds Interest Rates
The recent decision by the Federal Open Market Committee (FOMC) to keep interest rates steady has ignited a wave of speculation in financial markets. Federal Reserve Chair, Jay Powell, provided insights into the current state of the US economy and its trajectory....
Making money in trading is easy
If you go and ask any successful trader or investor what's the most important thing in trading, he/she will tell you that it's capital preservation. In fact, the hardest part in the markets is not making money, it's being able to keep it, and over the long term...
Eurozone March unemployment rate 6.5% vs 6.5% 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,...
UK Final April S&P Global Services PMI 55.0 vs. 54.9 expected
UK Services PMI 55.0 vs. 54.9 expected and 53.1 prior.UK Composite PMI 54.1 vs. 54.0 expected and 52.8 prior.Key findings:Activity and new work rise at fastest rates for 11 months. Staff hiring remains subdued. Input cost inflation highest since August...
Gold technical analysis – waiting for the US data to give us a direction
Gold is consolidating right around a key trendline as the market awaits the US NFP and ISM Services PMI reports. We got a spike on Wednesday as the Fed was pretty dovish compared to the hawkish expectations leading into the event. Since it didn’t change anything on...
German engineering orders see stronger decline in March
The manufacturing order books in Germany saw a deepening decline in March, as orders fell by 17% year-on-year in real terms. Domestic orders fell by 23% compared to a year ago while foreign orders fell by 15%. That being said, things need to be put into context a...
Market Update – Apple Soars, Gold Struggles, USD and VIX Slip, Sentiment Positive Ahead of NFPs
Apple (APPL) Soars, Gold Struggles, USD and VIX Slip, Sentiment Positive Ahead of NFPsApple drives risk sentiment ahead of US NFPs.Japanese Yen is starting to push higher after intervention.US dollar slips to a three-week low.Learn how to trade a range of market...
It’s going to a be a dull market until the US NFP and ISM Services PMI
There's no market moving data in the European session (unless we get a big jump in the Eurozone unemployment rate). For this reason, we will likley see a rangebound price action heading into the US NFP release and the ISM Services PMI. In the big picture nothing has...