FX

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The Australian Dollar appreciates following the domestic mixed labor market. Australia’s Employment Change rose by 35,600 in November, exceeding the previous 12,100 and the expected 25,000 readings. Traders still expect the Fed to proceed with a quarter-point rate cut in December following the latest US CPI report. The Australian Dollar (AUD) halts its two days

NZD/JPY fell to 87.48 on Friday, extending its weekly losses. Indicators are dangerously close to oversold conditions, signaling a potential correction. Bearish momentum remains intact, with risks of further downside. The NZD/JPY pair extended its decline on Friday, falling to 87.48 as selling pressure intensified. This marks a continuation of the bearish trend that began

Australia’s Gross Domestic Product (GDP) grew 0.3% QoQ in the third quarter (Q3) of 2024 compared with the 0.2% growth in the second quarter, the Australian Bureau of Statistics (ABS) showed on Wednesday. This reading came in below expectations of 0.4%. The annual third-quarter GDP expanded by 0.8%, compared with the 1.0% growth in Q2 while below

The US Dollar off the lows for this Friday with markets nervous on France’s budget talks possibly toppling the government. Monday’s opening might get choppy if French Prime Minister Michel Barnier is unable to secure a deal with the far-right National Rally party. The US Dollar Index is back above 106.00 and is looking for

WTI price attracts some sellers to near $68.55 in Tuesday’s Asian session.  The possible Middle East peace deal caps the WTI’s upside.  Expectations for a revival of China’s imports could boost the black gold.  West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $68.55 on Tuesday. The WTI price edges lower after the reports that

NZD/USD weakens to around 0.5855 in Friday’s early Asian session, down 0.18% on the day.  The US weekly jobless claims declined to a seven-month low. The RBNZ is expected to cut its interest rates by 50 bps next week.  The NZD/USD pair trades in negative territory for the third consecutive day near 0.5855 during the

European Central Bank (ECB) board member Piero Cipollone said on Friday that central bank should cut interest rates further to support the recovery in the Eurozone and also in the face of potential new trade tariffs in the US, per Reuters. Key quotes The pace and extent of reduction will depend on data. Developments remain

The Australian Unemployment Rate is foreseen stable at 4.1% in October. Employment Change is expected at 25K, much lower than the 51.6K posted in September.  AUD/USD is under pressure and may soon pierce the 0.6500 mark.  The Australian Bureau of Statistics (ABS) will release the October monthly employment report at 00:30 GMT on Thursday. The

The NZD/USD got rejected by the 20-day SMA by the fourth time this week. Technical indicators point to increasing selling pressure and decreasing buying pressure. A breakout from the 0.5940-0.6030 range will confirm a bearish outlook. In Friday’s session, the NZD/USD declined by 1.05% to 0.5960, continuing its downward trend as the pair got rejected by

The Bank of Japan (BoJ) board members shared their views on the monetary policy outlook on Wednesday, per the BoJ Minutes of the September meeting.   Key quotes Rapid decline in market sentiment in August 2024 due to U.S. economic slowdown fears. Japan’s markets particularly volatile due to quick position adjustments. U.S. economy’s future remains unclear, affecting global economic

The US Dollar recovered modestly after a discouraging Nonfarm Payrolls report sent it sub-104.00.  The steady unemployment rate and the uptick in hourly wages have tempered the negative reaction on the USD. The index bounced from an intraday low of 103.68, with technical indicators showing a growing bearish momentum. The US Dollar Index (DXY) has regained

EUR/USD trades flat near 1.0810 in Tuesday’s early Asian session.  The rising bets that the Fed might not opt into aggressive easing might boost the USD.  ECB’s Wunsch said there is no urgency for the ECB to speed up policy easing.  The EUR/USD pair holds steady around 1.0810 on the consolidation of the US Dollar

Gold advances as US Treasury yields fall alongside the US Dollar. Tensions due to the Middle East and US election boost Bullion’s demand. Strong US labor market data and better-than-expected PMI results underscore economic resilience despite mixed housing data. Analysts highlight rising US fiscal debt concerns as key factors supporting Gold’s rally. Gold prices climbed

AUD/USD edges higher to around 0.6715 in Monday’s early Asian session.  Rising bets on smaller Fed rate cuts could cap the USD’s downside.  Strong Australian job data lowers expectations of the RBA rate cut.  The AUD/USD pair extends its recovery to near 0.6715 during the early Asian session on Monday. The modest decline of the

USD/CAD trades with mild gains around 1.3755 in Thursday’s early Asian session.  The expectation of a slower pace of Fed rate cuts underpins the USD broadly. The BoC is expected to cut rates by 50 bps next week.  The USD/CAD pair posts modest gains to near 1.3755 during the early Asian session on Thursday. The

Gold gains 1% on Friday, set to end the week with 0.20% gains. US PPI data was slightly above expectations, suggesting inflation is down but stalling above target, while UoM Consumer Sentiment highlights concerns over rising living costs. Despite higher US Treasury yields, with the 10-year note rising to 4.081%, Bullion prices remain supported as

USD/CAD holds steady near 1.3645 in Wednesday’s early Asian session.  Fed officials emphasized another gradual rate cut may be appropriate. Lower crude oil prices might exert some selling pressure on the Loonie.  The USD/CAD pair trades flat around 1.3645 amid the consolidation of the Greenback during the early Asian session on Wednesday. The US Federal