FX

USD/CAD fell sharply in the early American session. Nonfarm Payrolls in US rose less than forecast in May. Employment in Canada declined by 68,000, Unemployment Rate rose to 8.2%. The USD/CAD pair rose to its highest level in a week at 1.2134 on Friday but turned south in the second half of the day. After

GBP/USD Forecast: To 1.40 or 1.42? All eyes on US Nonfarm Payrolls Sterling has succumbed to data and Fed-related dollar strength. Nonfarm Payrolls and also worries about the Delta variant are set to move the currency pair. Friday’s four-hour chart is showing that cable is at crossroads. Down but not out – that is probably

Nonfarm Payrolls (NFP) in the US rose by 559,000 in May, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed April’s print of 278,000 (revised from 266,000) and came in worse than the market expectation of 650,000. Follow our live coverage of the US jobs report and the

While market players are more interested in the US Nonfarm Payrolls (NFP), National Australia Bank (NAB) came out with its forecast for the Reserve Bank of Australia (RBA) monetary policy moves during the much-awaited July meeting. The Aussie bank signals the RBA extending Quantitative Easing (QE) but reducing the quantity purchased from the current $100

Employment in the US’ private sector increased by 978,000 in May, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Thursday. This reading followed April’s print of 654,000 (revised from 742,000) and came in better than the market expectation of 650,000. Commenting on the data, “private payrolls showed a marked

EUR/GBP refrains from extending recent losses, remains sluggish of late. EU-UK jostle over NI, British farmers fury over Aussie trade deal. UK PM Johnson, Health Minister Hancock struggled to reject covid variant fears. ECB’s Lagarde favored easy money amid cautious sentiment. EUR/GBP remains sidelined around 0.8615, inside the recent 10-pips trading range, during early Thursday

The broad conditions for equity buyers remain in place. Easy central bank monetary policy and broad fiscal stimulus mean conditions are suitable for further equity gains. However, investors need to be aware that markets have been trading at elevated levels and are struggling to make new highs despite strong Q2 earnings. [embedded content] Will Amazon

The gold price was in the hands of the bears in London following an initial spike to score fresh highs at $1,916.61 as per XAU/USD. Gold ended the North American session down 0.35% resting around the 50% mean reversion mark of the latest daily bullish impulse at $1,899 and slightly higher than the lows for

USD/JPY attracted some dip-buying on Tuesday and stalled its recent corrective slide. The safe-haven JPY was weighed down by the prevalent risk-on mood, COVID-19 jitters. An uptick in the US bond yields remained supportive’ sustained USD selling capped gains. The USD/JPY pair managed to recover over 35 pips from multi-day lows and climbed to fresh

AUD/NZD is attempting to correct from a strong daily bearish impulse. Traders will be tuned into the RBA event today.  AUDNZD is flat at the start of the Asian day near 1.0640 trading between a low of 1.0621 and 1.0648 following a thin market overnight with the US and UK closed for public holidays. The

NYSE:GME fell by 12.64% on Friday as meme stocks took a breather from the recent rally. GameStop and AMC both tank as diamond hands soften. GameStop remains wildly overpriced, but shorting it remains a risky endeavor.  NYSE:GME may be suffering from momentum traders with paper hands coming along for the ride, taking advantage of the

Ahead of Tuesday’s monetary policy meeting by the Reserve Bank of Australia (RBA), Bloomberg anticipates no change in the Aussie central bank’s policy settings. At the same time, the analytical piece said, “The Reserve Bank will likely hold preliminary discussions on whether to extend the three-year yield target and undertake further quantitative easing.” “The strength

Previewing next week key data releases from the US, “payrolls probably rose strongly by pre-covid standards but we see some downside risk versus the consensus again this month,” said TD Securities anaysts.  Key quotes “Our forecast implies a still-sizeable 7.7mn net decline from the pre-COVID level. The unemployment rate probably resumed its downtrend after a surprising

GBP/USD trims losses as the US dollar pulls back, remains in the range The GBP/USD bottomed before the release of US data at 1.4135 amid a rally of the US dollar across the board. Afterward, the greenback lost strength favoring a rebound in cable back above 1.4150. The intraday bias still points to the downside

SPCE stock is not to be left behind as AMC heads for the moon. Virgin Galactic is not heading for the moon, just the space. SPCE shares rally after successful test flight but stall at resistance. Virgin Galactic returned to space last weekend and this week has seen the shares soar, excuse the easy pun. AMC

USD/JPY is likely to extend the previous day’s gain. Rise in US Treasury yields fuel the US dollar demand. Eyes on Japan unemployment, US PCE data. he USD/JPY pair remains on track to extend the previous day’s gain on the last trading day of the week. The appreciative move in the US dollar lifts the

EUR/USD meets support in the 1.2175/70 band. The upside is now limited by the 1.2270 region. The downside pressure in EUR/USD looks well contained in the vicinity of 1.2170 for the time being. This area of contention is reinforced by a Fibo level (of the November-January rally and the short-term support line (off March lows).

NZD/USD consolidates in the early Asian session. Pair retreats from the coveted 0.7300 mark on profit-taking. MACD is in overbought zone, signals stretched buying conditions. The NZD/USD pair books modest losses on Thursday, following the previous day’s remarkable move. The pair zoomed from the lows of 0.7725 to touch the multi-month high near 0.7320, accumulating 90-pip movement.