Dollar rises against European majors an Yen as headline non-farm payrolls number came in not far from expectation. Encouragingly, unemployment rate dropped notably while participation rate also rose. Wage growth also some what picked up. DOW future also point to a mildly higher open. The greenback is set to end as the strongest one for
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Nonfarm payrolls increased by 1.37 million in August and the unemployment rate tumbled to 8.4% as the U.S. economy continued to climb its way out of the pandemic downturn. The unemployment rate was by far the lowest since the coronavirus shutdown in March, according to Labor Department figures released Friday. An alternative measure that includes
EUR/USD sits little changed in a 24 pips range so far today For bank trade ideas, check out eFX Plus Although stocks have reversed course in the opening hour of European cash trading, major currencies continue to sit tight in a pre-NFP lull for the most part so far today. EUR/USD is looking tepid, ranging
WTI benefits from the risk-on action in European equities. Concerns over weakening fuel demand could cap the upside. Corrective bounce to extend ahead of US NFP, rigs data? WTI (futures on Nymex) has caught a fresh bid-wave in the European session, extending the rebound from monthly lows of $40.23. Following a brief consolidative stint in
Trading 101 Understanding the USD centric nature of the FX markets is a key concept to get down early in your trading experience. The latest moves in the major pairs (over the last few weeks) have mainly been dollar driven. Namely a weaker dollar on the huge stimulus measures out of the US and the
NEW DELHI: Gold and silver prices rose in Friday’s early trade, tracking the global trends in precious metals. Meanwhile, India continued to report the highest number of daily cases in the world which also lifted bullion’s appeal. The head of the Chicago Federal Reserve on Thursday called on Congress to deliver more fiscal aid and
Asian markets are generally in red following the steep corrective selloff in the US overnight. The forex markets are relatively steady though, with Dollar and Yen trading with a firm tone. Australian and New Zealand Dollars are the weakest ones, followed by Sterling. Over the week, Dollar is set to end as the strongest one,
The Marriner S. Eccles Federal Reserve building stands in Washington, D.C., U.S., on Tuesday, Aug. 18, 2020. Erin Scott | Bloomberg via Getty Images Certain often-overlooked markets may be telling us that the Fed’s new policy framework is going to have some immediate unintended consequences. While that may be a bold claim, there is hard
New York-based blockchain analytics firm Chainalysis has published new research highlighting there have been up to 200,000 crypto transactions in the past year, worth more than $1 billion between Latin America and Asia. The study Latin America Mitigates Economic Turbulence with Cryptocurrency, analyzed crypto trends in Latin America between July 2019, and June 2020, and
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Dow Jones falls -1025 points at its lows The major indices are closing sharply lower. The major indices declines were the sharpest since June for the S&P and Dow. For the NASDAQ, you have to go all the way back to March to have a worse trading day. The Dow industrial average is now back
Developing story EUR/JPY has been in a long term bull trend since the start of may earlier this year and it has reached a supply zone on the monthly chart. So far, the bulls have managed to hold their ground, but they are tiring as momentum slows down in the 126 handle. This gives rise
Congress needs to pass a bill One theory was that the October 1 government shutdown deadline would push both sides to the table for a grand bargain on stimulus but it looks like they’re going to set that aside and use a stopgap bill to keep the government open. The White House was looking for
Gold prices fell to a near one-week low on Thursday, as a stronger US dollar and an uptick in risk appetite following better-than-expected economic data dented demand for the safe-haven metal. Spot gold was down 0.5% to $1,933.06 per ounce by 0723 GMT, after falling to its lowest since Aug. 28 at $1,926.99 earlier in
Dollar’s rebound continues in early US session as positive response to better than expected jobless claims data. For the moment, Swiss Franc is the second strongest, followed by Euro, and both surges against the weak Sterling. Commodity currencies follow as the next weakest, as gold and oil soften. Yen turned mixed as rally in European
The U.S. economic recovery has been held back because Americans lack trust with one another over the coronavirus, Mohamed El-Erian told CNBC on Thursday. “It is very difficult for any individual to be certain whether the other person is healthy or not, and that other person is not certain whether you’re healthy or not,” El-Erian said in