USD/JPY rallies over 1% after US Nonfarm Payrolls added 254K jobs, lifting US Treasury yields. Bulls target a decisive break above 149.39 and 150.00, with next resistance at the 200-DMA of 151.06. Support lies at 148.00, followed by the Senkou Span B at 147.78 and the bottom of the Ichimoku Cloud at 146.90-147.00. The USD/JPY
Month: October 2024
Crude Oil Price Forecast: Navigating the Next Moves 🛢️📈 Hello traders and investors! This is Itai Levitan, an experienced market analyst at ForexLive.com, tracking crude oil for you today as well as what I am looking at. Let’s dive into the insights you need to make informed trading decisions. 🌊 Recent Rally Highlights 🚀 Strong
UPCOMING EVENTS: Monday: Eurozone Retail Sales. (China on holiday) Tuesday: Japan Average Cash Earnings, RBA Meeting Minutes, US NFIB Small Business Optimism Index. Wednesday: RBNZ Policy Decision, FOMC Meeting Minutes. Thursday: Japan PPI, ECB Meeting Minutes, US CPI, US Jobless Claims, New Zealand Manufacturing PMI. Friday: UK GDP, Canada Labour Market report, US PPI, US
Gold December futures contracts at MCX opened flat today at Rs 76,120 per 10 gram, which is down by 0.35% or Rs 270 while silver December futures contracts were trading at Rs 91,825/kg, up by 0.49% or Rs 450. Gold as well as silver prices have surged slightly in this week so far. The former
The U.S. economy added far more jobs than expected in September, pointing to a vital employment picture as the unemployment rate edged lower, the Labor Department reported Friday. Nonfarm payrolls surged by 254,000 for the month, up from a revised 159,000 in August and better than the 150,000 Dow Jones consensus forecast. The unemployment rate
AUD/USD falls following robust US Nonfarm Payrolls data, reducing the likelihood of aggressive Fed rate cuts. Fed Chair Powell signals slower pace of easing, with markets now pricing in a 25 bps cut for November. Australian data shows mixed results with strong Retail Sales and trade surplus but ongoing manufacturing contraction and slowing business activity.
The RBNZ will meet next week and expectations are a 50 basis point cut (they meet on Wednesday in NZ). The fall today and the price below a swing area between 0.6167 and 0.61796. That area will now be close resistance. On the downside the 100 day moving average comes in at 0.6121. The 50%
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices inched up in early Asian trading hours on Friday, holding on to their strong weekly gains, as investors weighed the Middle East conflict and the potential disruption in crude flows against an amply-supplied global market. Brent crude futures were up 9 cents, or 0.12%, to $77.71 a barrel as of 0010 GMT. U.S.
Getty Images The September jobs report was surprisingly strong, and the details show that growth came from many different areas of the economy. The biggest contributions came from leisure and hospitality, with 78,000 new positions, and health care and social assistance, at 71,700. If private education was added to the health-care group, as some economists
The US Dollar climbed after a bumper NFP print on Friday. US jobs additions soared in September, with upside revisions to previous months. Market hopes for a follow-up outsized rate cut in November were shattered by jobs growth. The US Dollar (USD) Index (DXY) climbed into a fifth consecutive bullish day on Friday, driven higher
The financial markets gained much-needed clarity last week as strong US employment data aligned market expectations with Fed’s own monetary policy outlook. The possibility of a 50bps rate cut in November has now vanished, with traders anticipating two more standard 25bps cuts this year, matching Fed’s dot plot. This development boosted Dollar, which ended the
As we head into the close, the EURUSD is trading near lows for the week. The strong US jobs data today helped to push the pair below a swing area between 1.1001 and 1.1014, and also the 50% midpoint of the move up from the August 1 low at 1.0995. That area will now be
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, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices traded flat on Thursday but were slightly down for the week, as market focus shifted to a crucial U.S. payrolls report for clearer insight into the Federal Reserve‘s anticipated interest rate reduction next month. FUNDAMENTALS * Spot gold was steady at $2,657.13 per ounce, as of 0034 GMT. Bullion was on track for
Job seekers attend the JobNewsUSA.com South Florida Job Fair held at the Amerant Bank Arena in Sunrise, Florida, on June 26, 2024. Joe Raedle | Getty Images The unemployment rate for men in Black and Hispanic racial groups declined in September while staying little-changed for other racial groups, according to data released Friday by the Department
Gold drops after robust US jobs report lowers pressure on the Fed. US 10-year T-note yield climbs to 3.971%, while the US Dollar Index hits mid-August highs at 102.58, capping Gold’s rise. Geopolitical risks involving Israel and Iran to support Gold, which could hit $2,700. Gold price retraces after a stronger-than-expected US jobs report hinted
Dollar continues to dominate the currency markets this week, holding its position as the strongest performer as focus shifts to the upcoming non-farm payroll report from the US. Market reactions to this data will be crucial in shaping financial movements leading up to FOMC rate decision in November. If the employment figures support a standard