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Month: October 2023
UPCOMING EVENTS: Tuesday: US NFIB Small Business Optimism Index. Wednesday: US PPI, FOMC Minutes. Thursday: Japan PPI, UK GDP, ECB Minutes, US CPI, US Jobless Claims, NZ Manufacturing PMI. Friday: China CPI, China Trade data, Eurozone Industrial Production, US University of Michigan Consumer Sentiment. This weekend, Hamas launched a massive attack against Israel which draws
Job growth was stronger than expected in September, a sign that the U.S. economy is hanging tough despite higher interest rates, labor strife and dysfunction in Washington. Nonfarm payrolls increased by 336,000 for the month, better than the Dow Jones consensus estimate for 170,000, the Labor Department said Friday in a much-anticipated report. The unemployment
Share: Mexican Peso gained on Friday but printed more than 4% weekly losses. Mexico’s economic docket will feature inflation data in the next week. USD/MXN set to extend its gains after printing a new cycle high at around 18.48. Mexican Peso (MXN) finished the week with solid gains vs. the US Dollar (USD) on Friday
Spot gold snapped its nine-day long losing streak to settle with a gain of 0.69% at $1,833 on Friday. US employers added 336k jobs versus the forecast of 170k jobs in September as a two-month payroll net revision was noted at +119k. The unemployment rate came in at 3.8%, which was slightly higher than the
In this video, I outline the risks and targets in the USDJPY as we work toward the close for the week, and the look ahead to the new trading week. What is the bias? What are the targets? What is the risk? What did the price action today and this week tell us technically about
It’s all happening in the Middle East once again this weekend. A surprise attack by Hamas on Israel set off a strong response in something that will rekindle instability in the region. I doubt Israel headlines move markets but the violence comes at the same time that the US looking for some kind of peace
In a week brimming with financial intricacies, the most surprising element was the remarkable bounce-back in US stocks post the release of the compelling non-farm payroll report. Conventional wisdom would suggest that such a robust report would serve to reinforce Fed’s inclination towards prolonging its restrictive monetary policy, even if it doesn’t proceed with another
The U.S. labor market saw broad gains in September in a surprisingly strong jobs report that sparked a quick sell-off in the bond market. The strongest sector for job growth in September was leisure and hospitality, according to the Bureau of Labor Statistics. The 96,000 net jobs gain last month was more than the combined
Understanding finality in blockchain Finality in blockchain refers to the unchangeable confirmation of a transaction or a block of transactions. In conventional financial systems, once a transaction is confirmed, it cannot be undone. Similarly, attaining finality on a blockchain network ensures that a transaction is permanent and cannot be modified after it has been added
Share: EUR/USD catches a firm lift post-US NFP release, climbing 1.12% from the day’s bottom. Broad-market flows have gone firmly risk-on following a bumper NFP reading for the USD. Euro traders will be looking ahead to Monday’s investor confidence indicator for October. The EUR/USD climbed 117 pips from Friday’s bottom bids of 1.0482 to tap
Gold prices gained on Friday, helped by a technical rebound after a nine-day losing streak, although robust U.S. jobs data raised worries over another U.S. rate hike and kept bullion on track for its second weekly drop. Spot gold was up 0.6% at $1,831.09 per ounce by 1:41 p.m. EDT (1741 GMT) but on track
In this video, I outline the risks and targets in the USDCAD as we work toward the close for the current week, and the look ahead to the new trading week starting October 9, 2023. What is the bias? What are the targets? What is the risk? What did the price action today and this
The major US indices are closing higher for the day. The gains came despite strong and expected US jobs report and higher yields. Traders are hoping that the tame wage data and the unemployment rate remaining unchanged at 3.8% (expected 3.7%) will keep the Fed on hold. Next week we get key consumer price index
People pump gas into their vehicles at a Shell petrol station on October 2, 2023 in Alhambra, California. Frederic J. Brown | Afp | Getty Images The U.S. economy has added more than 2.3 million jobs this year, the unemployment rate is still below 4% and there are nearly 10 million open positions out there
Share: USD/JPY ascends to 149.50, rebounding from lows, driven by a US jobs report that eclipsed market expectations. Despite a surge, USD/JPY retraces slightly, settling around 149.20, with US 10-year note yielding at a sturdy 4.780%. Japanese officials express concerns over Yen volatility, while a rise in the 10-year JGB coupon hints at potential BoJ
In this video, I outline the risks and targets in the USDCH as we work toward the close for the week, and the look ahead to the new trading week. What is the bias? What are the targets? What is the risk? What did the price action today and this week tell us technically about
When the US jobs report came out and showed a stronger-than-expected 336K nonfarm payroll jobs (estimate 170K) and revisions of over 100K to the prior month’s, the US dollar moved higher, yields moved higher and stocks moved lower. However, then people started to look at things like the unemployment rate remaining at 3.8% (despite the
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