Silver bounces from intraday lows as USD retreats from post-NFP highs

Silver (XAG/USD) trades around $66.20 at the time of writing on Friday, down 1.18% on the day, after recovering part of its sharp post-Nonfarm Payrolls (NFP) decline. The precious metal initially tumbled to an intraday low of $64.74 as stronger-than-expected United States (US) employment data boosted the US Dollar (USD) and Treasury yields, before buyers […]

British Pound trims losses against US Dollar after NFP-driven volatility

GBP/USD recovers part of its initial drop on Friday after stronger-than-expected United States (US) employment data briefly lifts the US Dollar (USD). The pair fell to an intraday low of 1.3482 immediately after the release before rebounding. At the time of writing, GBP/USD trades around 1.3512. US Nonfarm Payrolls (NFP) increased by 162K in August, […]

BoE’s Bailey defends central bank flexibility, flags guidance risks

Bank of England (BoE) Governor Andrew Bailey said on Friday that monetary policymakers have some discretion over how quickly they bring inflation back to target, while stressing that returning inflation to the target remains imperative. Bailey also addressed central bank communication, saying that Federal Reserve (Fed) Chair Kevin Warsh is right to identify some dangers […]