Gold Drops $100 on NFP Data!
The dollar was boosted on Friday as NFP and PMI data exceeded expectations. Gold dropped below the $1900 level as the sell-off erased recent gains. With Jerome Powell giving a speech this week regarding the next move for the Fed, will a retracement ensue, or will the yellow metal drop even further? Timestamps XAUUSD 01:35 […]
XAU/USD exposes to $1,850 as yields strengthen amid hawkish Fed bets
Gold price is expected to continue its downside journey to near $1,850.00 as US yields have strengthened. The speech from Fed chair Jerome Powell will provide the likely monetary policy action ahead. Goldman Sachs sees two more interest rate hikes by the Fed in March and May. Gold price (XAU/USD) has resumed its downside journey […]
XAU/USD plummets below $1890 after stunning US NFP report
Gold plunges after a solid January US NFP report. The US economy added more than 500K jobs, and the unemployment rate fell to 3.4%. Gold Technical Analysis: To the upside eyeing $1890, and downwards $1850. Gold price tumbles sharply after the US Department of Labor revealed a staggering Nonfarm Payrolls report that added more jobs […]
GBP/USD tumbles to the 1.2100 zone as Dollar jumps on upbeat NFP
US jobs numbers surpass expectations in January, not earnings. US Dollar and Treasury bond yields soar after NFP. GBP/USD extends weekly losses as USD jumps on data. The GBP/USD tumbled from 1.2250 to 1.2100, reaching the lowest level in three weeks after the NFP. During the last hour, it rebounded modestly rising toward 1.2150. The […]
USD Index extends the upside north of 102.00 ahead of ISM
The index picks up extra pace after another solid NFP print. The US labour market shows no signs of weakness so far. The US economy added far more jobs than predicted. The greenback adds to the optimism seen in the second half of the week and lifts the USD Index (DXY) back above the 102.00 […]
Wild beat on NFP pummels XAU/USD – TDS
Gold price tumbles sharply after a solid January US Nonfarm Payrolls report. A break under $1,880 would exacerbate losses, strategists at TD Securities report. Pricing for rate cuts has notably reversed weekly gains “A wild beat on NFP data is creating shocking whipsaws in recent trends. Pricing for rate cuts has notably reversed weekly gains, […]
FOMC will be cautious in reading too much into the magnitude of January’s NFP – Wells Fargo
The data published on Friday by the US Bureau of Labor Statistics (BLS) showed that Nonfarm Payrolls rose by 517K in January, well above market consensus. The numbers triggered a rally of the US dollar. Analysts at Wells Fargo point out that there is still plenty of additional economic data between now and the March […]
The stock-market rally survived a confusing week. Here’s what comes next.
Despite a Friday stumble, stocks ended a turbulent week with another round of solid gains, keeping 2023’s young but robust stock-market rally very much alive.But a cloud of confusion also sets over the market, and it will eventually need to be resolved, strategists said. Stocks rose early in the week as traders continued to bet […]
ForexLive European FX news wrap: Dollar mixed, equities lower ahead of NFP
Headlines: Markets: GBP leads, CAD lags on the day European equities lower; S&P 500 futures down 0.7% US 10-year yields down 0.4 bps to 3.394% Gold up 0.2% to $1,915.43 WTI crude down 0.3% to $75.68 Bitcoin up 0.2% to $23,509 It was a choppy session for major currencies as risk stayed on the defensive […]
Delicately Poised Ahead of NFP Release
WTI PRICE, CHARTS and ANALYSIS: Recommended by Zain Vawda Get Your Free Oil Forecast WTI FUNDAMENTAL OUTLOOK Crude Oil has had a difficult week despite broad-based US Dollar weakness for the majority of the week. WTI hit a fresh three-week low yesterday and remains on course for a second week of losses as sanctions on […]