The EUR/USD pair surges by half a percent on Thursday, reaching 1.0970 before settling into the 1.0960 neighborhood as markets digest data from both sides of the Pacific. The Eurozone’s HCOB Composite Purchasing Managers’ Index (PMI) beat expectations early Thursday, printing at 47.6 for December versus the median market forecast …

The USD/JPY pair advanced 1% to the 147.70 level. US Jobless Claims for the week ending December 30 were reported at 202K, which was less than expected. With 164K new employment added in December, the US ADP Employment Change exceeded expectations.The pair rises while the US economy remains stable. The …

The Swiss Franc retreated on Thursday due to strong global macroeconomic data, particularly from the United Kingdom. The safe-haven Swiss Franc fell against the Pound due to the positive boost to investor risk appetite from the figures. China recorded a higher-than-expected Services PMI for December, showing the world’s second largest …

The US dollar is still seen favourably at the start of the new trading year. Asian markets should closely monitor the Chinese schedule going forward, since Caixin Services and Composite PMIs are due on that calendar. While there is nothing planned in Oz for Thursday, the final Manufacturing PMI watched …

Gold retreats to a two-week low as the FOMC minutes reveal no dovish slant even though they acknowledge progress in inflation. The US Dollar Index rises 1.11% while the precious metal struggles with a loss of nearly 1%, indicating strong USD performance. The market is focusing on December’s Nonfarm Payrolls …

The EUR/USD pair is attempting to regain support after retreating into the 1.0900 handle. According to the most recent meeting minutes, the Fed is trying to lower market expectations for rate cuts. Markets are concentrating on US PMI data on Wednesday due to the lack of EU data. The Fed …

According to meeting minutes made public on Wednesday, Federal Reserve policymakers agreed in December that interest rate reductions are probably going to happen in 2024, although they didn’t seem to specify when.A number of FOMC members stated that when bank reserves “are somewhat above the level judged consistent with ample,” …

US Federal Reserve officials appeared increasingly convinced at their meeting last month that inflation was coming under control, with “upside risks” diminished and growing concern about the damage that “overly restrictive” monetary policy might do to the economy, according to minutes of the central bank’s Dec. 12-13 policy meeting.As a …

The DXY Index is advancing with strong gains, recovering above the 20-day SMA, while US JOLTs Jobs Openings and ISM’s December Manufacturing PMI exceeded expectations. Dovish bets on the Fed have eased slightly, but remain high. The US Dollar Index has gained at 102.60, reclaiming the 20-day Simple Moving Average. …

The GBP/USD pair has not recovered much after Tuesday’s steep drop, but it is currently trading around 1.2644. This week’s UK data is scarce as investors prioritize US labour and economic activity data. Leading the way is the US ISM Manufacturing Purchasing Managers’ Index, whose December PMI surpassed forecasts but …