Market Update

After US ADP Employment Change crushed estimates, while unemployment claims missed estimates, foreseeing a solid US Nonfarm Payrolls report, the Australian dollar loses ground against the US counterpart. After economic data revealed in the United States confirming a robust labour market, traders’ speculations augmented that the Fed would continue tightening …

The EUR/USD pair’s upside momentum faltered once again around 1.0530. The breakout of that resistance could lead up to a test of 1.0713. The EUR/USD pair gives away initial gains and sinks in the red territory below the 1.0500 support on Thursday. The constructive outlook for EUR/USD should remain unchanged …

The buoyancy of nonfarm payroll growth has seemed at probabilities with other signs that the jobs market is beginning to sour. As a result, we look for nonfarm payroll growth to decrease noticeably in the months ahead, starting with December’s employment report showing hiring slowing to 205,000. Demand for employees …

There were 204,000 initial jobless claims in the week ending December 31, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 223,000 and came in better than the market expectation of 225,000. Further details of the publication …

European stocks fell on Thursday ahead of the release of inflation data in the eurozone and after the release of the minutes of the Federal Reserve meeting in December, which showed the US central bank’s commitment to curbing inflation. The pan-European STOXX was down 0.3% by 0810 GMT, after rising …

The American Petroleum Institute said that crude oil inventories rose by 3.3 million barrels in the week ending on the 30th of last December. In its weekly report, the American Institute stated that gasoline stocks rose by 1.2 million barrels, while distillate stocks decreased by 2.4 million barrels. Today, Thursday, …

The dollar struggled to rally on Thursday even though policymakers at the US Federal Reserve reaffirmed their commitment to fighting inflation, while the Australian dollar jumped after China eased restrictions on coal imports from Australia. The minutes of the Federal Reserve’s December monetary policy meeting, released last night, showed that …

Gold prices retreated on Thursday from their highest level in nearly seven months as the dollar strengthened and investors shied ahead of closely watched US jobs data, which could affect the path of the Federal Reserve’s interest rate hike. Spot gold fell 0.3 percent to $1,848.59 an ounce by 0924 …

Japan’s Nikkei index recovered on Thursday from its lowest level in three months as shares of chip-related companies rose, tracking their US counterparts, but expectations of the world’s major central banks continuing to pursue monetary tightening limited gains. The Nikkei ended the session up by 0.4 percent, recording 25,820.80 points, …

On Wednesday, the dollar sharply edged lower across the board. However, losses were uneven, with the Australian dollar among the best performers and the Euro  at the bottom of the list. The International Monetary Fund’s managing director said a third of the world’s economies could slide into a recession in …