US S&P Global Services PMI posts first contraction since 2023
The US S&P Global Services PMI in March reported that business activity in the sector is slowing sharply, falling to contractionary territory for the first time since January 2023, amid higher inflation and the war in the Middle East. The index fell from 51.7 in February to 49.8, according to S&P. They noted that, “Overall, […]
USD/JPY weakens despite strong US NFP as intervention risks cap gains
USD/JPY trades with a mild downside bias on Friday as lingering intervention fears support the Japanese Yen (JPY), even as the US Dollar (USD) remains firm against its major peers following the upside surprise in US Nonfarm Payrolls (NFP) data. Thin liquidity conditions due to the Good Friday holiday are also contributing to muted and […]
GBP/USD slips after blockbuster NFP revives Fed hold outlook
The GBP/USD extended its losses for the second straight day, down 0.12% after a stellar US Nonfarm Payrolls report, which could refocus the Federal Reserve on battling higher inflation that has remained above target for five years. At the time of writing, the pair trades at 1.3205. Strong payrolls and firmer yields keep Sterling on […]
AUD/USD trims gains after strong US NFP
AUD/USD reverses earlier gains on Friday as stronger-than-expected US Nonfarm Payrolls (NFP) data supports the US Dollar (USD), adding modest pressure on the Australian Dollar (AUD), while price action remains subdued amid thin liquidity due to the Good Friday holiday. At the time of writing, AUD/USD is trading around 0.6900, after touching an intraday high […]
AUD/USD eases towards 0.6900 heading into the US NFP release
The Australian Dollar’s (AUD) recovery attempt against the US Dollar (USD) has been capped a few pips ahead of the 0.6920 level. The pair has been trimming gains on Friday, returning to the 0.6900 area at the time of writing, with all eyes on the release of the US Nonfarm Payrolls report. A moderate risk […]
NFP expected to rise by 60K in March as markets assess Fed rate path
The United States (US) Bureau of Labor Statistics (BLS) will release the Nonfarm Payrolls (NFP) data for March on Friday at 12:30 GMT. Investors will scrutinize the underlying details of the employment report to assess whether the Federal Reserve (Fed) is likely to consider an interest-rate hike later in the year. Still, the immediate market […]
Australian Dollar gains traction ahead of US jobs report
The AUD/USD pair gains ground near 0.6900 during the early European trading hours on Friday. Hawkish tone from the Reserve Bank of Australia (RBA) underpins the Australian Dollar (AUD) against the Greenback. Trading volumes are likely to be thin due to the Good Friday holiday. Traders will keep an eye on the US March jobs […]
NZD/USD declines to near 0.5700 on weak Chinese PMI, US NFP data looms
The NZD/USD pair extends the decline to a near four-month low around 0.5710 during the Asian trading hours on Friday. The New Zealand Dollar (NZD) softens against the US Dollar (USD) on the downbeat Chinese economic data and heightened geopolitical tensions in the Middle East. Trading volumes are likely to be thin due to the […]
Oil price rise is quite serious, everything depends on how long it lasts
Federal Reserve Bank of Chicago President Austan Goolsbee said on Thursday that he is concerned about the timing of rising oil prices, stating that they could hinder efforts to reduce inflation. Key quotes Oil price rise is quite serious, everything depends on how long it lasts. If extended period of oil price rise, will see it […]
NZD/USD weakens as Iran war tensions rise
The NZD/USD pair is trading around the 0.5710 region, maintaining a bearish tone amid heightened geopolitical tensions and risk aversion, as the US Dollar (USD) strengthens. The Greenback remains well supported after Donald Trump signaled a more aggressive stance toward Iran, warning that additional weeks of conflict are likely. Reports also suggest that Iran is […]
