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 […]
AUD/USD refreshes day low below 0.7070 despite upbeat Caixin Services PMI
AUD/USD has dropped to near 0.7064 as the market mood has soured. The upbeat Caixin Services PMI at 52.9 failed to provide support to the Australian Dollar. An interest rate hike of 25 bps is expected from the RBA next week. The AUD/USD pair has printed a fresh day’s low at 0.7064 despite the IHS Markit has […]
US Dollar Rose as Upbeat Jobless Claims Enticed Traders Before Non-Farm Payrolls
US Dollar, Jobless Claims, Apple & Amazon Earnings – Asia Pacific Market Open: US Dollar pivots on Thursday after disappointing Wednesday Upbeat jobless claims data underscored data-dependent Fed Soft Apple & Amazon earnings may benefit DXY before NFPs Recommended by Daniel Dubrovsky Get Your Free USD Forecast Asia-Pacific Market Briefing – US Dollar Gains on […]
Upbeat China PMI, IMF growth forecasts probe bears around mid-0.7000s
AUD/USD picks up bids to challenge two-day downtrend. China official PMIs came in firmer for January, IMF revised up growth forecasts. Aussie Retail Sales, cautious mood ahead of the key data/events previously weighed on prices. US data eyed ahead of Fed meeting, risk catalysts are important too. AUD/USD probes the two-day downtrend while picking up […]
USD/JPY bulls hesitate around mid-130.00s as upbeat Japan data tease BoJ hawks
USD/JPY struggles to extend week-start rebound amid strong statistics from Tokyo. Japan’s Unemployment Rate remains unchanged but Industrial Production, Retail Trade cross market forecasts in December. Mixed sentiment, hawkish concerns surrounding BoJ keeps Yen pair sellers hopeful. US CB Consumer Confidence, risk catalysts will be crucial ahead of the FOMC. USD/JPY grinds higher around 130.50 […]
US Dollar struggles to capitalize on upbeat data ahead of PCE inflation
Here is what you need to know on Friday, January 27: The US Dollar Index managed to post small daily gains on Thursday following the robust macroeconomic data releases from the US but seems to be struggling to gather further bullish momentum early Friday. The benchmark 10-year US Treasury bond yield holds steady above 3.5% […]
USD/JPY slides below 130.00 as upbeat Tokyo CPI pleases BoJ hawks ahead of Fed’s preferred inflation
USD/JPY takes offers to refresh intraday low, fades bounce off weekly bottom. Firmer prints of Tokyo CPI for January renews hawkish concerns over BoJ and weigh on Yen prices. Mixed concerns surrounding Fed’s next move, hopes of BoJ’s hawkish turn also please USD/JPY bears. Fed’s preferred inflation gauge eyed for clear directions ahead of next […]
USD/CAD eyes the first weekly gain in five on upbeat options market signals
USD/CAD remains indecisive on a day while taking rounds to 1.3460-50 during early Friday. Even so, the Loonie pair braces for the first weekly gain in five amid upbeat signals from the options market. That said, a one-month risk reversal (RR) of the USD/CAD pair, a ratio of call options versus put options, also known […]
Upbeat China Data may Unlock more Upside in Euro and other Pro-Cyclical Currencies
The unexpected rebound of the Chinese economy as seen in the latest batch of Chinese data reinforced the idea that a hidden China economic momentum will unlock the upside in pro-cyclical currencies, including the euro. The decline in natural gas prices pushes the idea of an energy crisis deep to the sidelines causing revisions of […]