After the release of the US monthly employment data, the US dollar rallied, pushing GBP/USD down to an intraday low of 1.1089. US stocks were holding on to pre-opening losses without extending their slumps. Some profit-taking ahead of the weekend has helped major pairs to bounce, but that is not …
Read More »Bitcoin slides on NFP data
The crypto market settled in the red territory on Friday, with Bitcoin heading the downtrend of the $20,000 mark again as analysts eye further rate hikes in light of the strong NFP data.October is usually a positive season for Bitcoin’s price movements, however, as the first full week of the …
Read More »EUR/USD still below 0.9800 post NFP
The EUR/USD pair sharply fell with the initial market reaction to US NFP data that rose by 263K in September.The pair is on track to end the week with a little change. The pair has also managed to erase a large portion of its daily losses but lost its recovery …
Read More »NFP Unlikely To Impact US Dollar’s Performance
US employment gain, for September, was not so far rfrom expectations. NFP should be broadly neutral for the USD at this time, in the opinion of economists.Friday’s data will do much to impact the US dollar’s performance. At a minimum, markets will likely have to wait until the upcoming CPI …
Read More »Market Drivers – US Session 06/10/2022
The EUR/USD pair trades just below the 0.9800 figure, as worse-than-anticipated EU data added pressure on the Euro. Across the Atlantic, the US dollar recovered its positive momentum and closed Thursday with gains against most major rival currencies. The shy tone of global equities and soaring US Treasury yields enriched …
Read More »EUR/USD senses downside ahead of NFP
As risk sentiment is still negative and the US dollar index (DXY) has not displayed any sign of exhaustion in the uptrend, consequently, the downside momentum in the EUR/USD could resume sooner.The EUR/USD is attempting to rebound from below 0.9800, while downside seems to be favored. The Dollar Index, DXY, …
Read More »Gold beaten back by stronger US dollar
The price of gold returns back to flat on the day in what has been a correction of this week’s rally into daily resistance near $1,730. The price fell from a high of $1,725.60 to a low of $1,706.95 but held above the prior day’s lows despite firmer US yields …
Read More »Fed’s Evans, Waller, Mester Sang Same Hawkish Battle Song
On Thursday, Fed speakers kept singing the same battle rhyme. Loretta Mester said the US central bank has more work to do to tame inflation and she has not seen the evidence needed to convince her that the policymakers can slow the pace of interest rate hikes as investors expect …
Read More »EUR/JPY Extends its losses, drops towards 142.20s
The EUR/JPY pair fell on Thursday, for the second straight day due to market sentiment that is turning sour, as portrayed by Wall Street’s performance as the stocks market is expected to finish the US session with losses.The US Fed policymakers remain committed to crushing inflation. At the time of …
Read More »US Treasury yields continue climbing
US Treasury yields continue to rise, boosted by the latest interest rate hike expectations. Treasury yields rose to 3.799% from the previous daily close at 3.575%.A report issued Thursday by the Economist’s Research and Analysis Unit said that the institution “expects further rate hikes by the Fed in November and …
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