USD/JPY consolidates near 157.00 as Hormuz risks, Fed bets support USD
The USD/JPY pair attracts some dip-buyers following a modest Asian session downtick to the 156.60 region on Monday. Spot prices climb to the 157.00 mark in the last hour, though it lacks follow-through, warranting caution before positioning for an extension of Friday’s goodish recovery from the 155.50-155.45 area, or the lowest level since February 25. […]
ECB’s Nagel flags June hike risk as volatility stays muted – BNY
BNY reports that Bundesbank President Joachim Nagel has signaled a likely European Central Bank rate hike in June unless the outlook improves, reinforcing a hawkish bias. Despite this, FX options show 1‑ and 3‑month EUR volatility below long-term averages, suggesting markets do not expect a major EUR/USD breakout. Energy-driven inflation and Iran-related supply shocks remain […]
US ISM Manufacturing PMI held steady at 52.7 in April
The Institute for Supply Management’s (ISM) data showed the Manufacturing PMI held steady at 52.7 in April, slightly below analysts’ expectations of 53.0. Meanwhile, the Prices Paid Index, which tracks inflation, rose to 84.6 from 78.3, the Employment Index weakened to 46.4 from 48.7, and the New Orders Index increased to 54.1, from 53.5. Market […]
Fed’s next rate move could be cut or hike
Lorie Logan, President of the Federal Reserve (Fed) Bank of Dallas, spoke at the Bank of Dallas, claiming that the Fed should not have give guidance that implies easing right now. She also added that the next rate move could be a cut or a hike. Key takeaways: Fed should not give guidance implying easing […]
Gold rebounds on Middle East headlines but higher-for-longer rates cap gains
Gold (XAU/USD) pares intraday losses on Friday as traders react to fresh geopolitical headlines surrounding the ongoing war in the Middle East. At the time of writing, XAU/USD is trading around $4,655, rebounding from the one-month low of $4,510 reached earlier this week. Reports suggest Iran has submitted a new proposal through Pakistani mediators in […]
Twilio stock spikes as company reports highest revenue growth in three years
Twilio (TWLO) stock rose as much as 21% on Friday morning as the market digested the cloud communications platform’s first-quarter results, released afterhours on Thursday. Shares of TWLO hit a four-year high at $179.48 at market open on Friday as Wall Street analysts praised the company’s surprise 20% annual revenue growth in Q1. The wider […]
GBP/USD surges past 1.3600 as Yen intervention batters Dollar
GBP/USD clears the 1.3600 barrier, up over 0.50%, as the Greenback gets battered for the second straight day amid speculation that Japanese authorities continued an intervention in the FX space to prop up the Yen. At the time of writing, the pair trades at 1.3650, up 0.38% near a ten-week high. Sterling climbs as Iran […]
NZD/USD edges higher near highs as US data, Iran tensions weigh
NZD/USD trades around 0.5915 on Friday at the time of writing, up 0.10% on the day, near recent highs around the 0.5930 area. The pair’s rebound comes as the US Dollar (USD) eases slightly, with the US Dollar Index (DXY) hovering near 97.90, down 0.23%, despite an ongoing tense geopolitical backdrop. Tensions in the Middle […]
USD/JPY steadies after Japan’s intervention checks Yen slide
USD/JPY turns flat in the day after diving to a daily low of 155.48 during Friday’s session, in the aftermath of two straight days of Japanese authorities intervening in the FX markets to strengthen the Yen, which had weakened past the 160.00 figure. The pair trades at 156.67, flattish. USD/JPY holds flat as Tokyo action […]
Silver price advances as Fed stays hawkish, inflation risks build
Silver (XAG/USD) trades around $76.00 on Friday at the time of writing, up 3.05% on the day, supported by renewed demand despite a macroeconomic backdrop that remains challenging for non-yielding assets. The white metal benefits from a rebound after consolidating earlier in the week, as investors reassess the outlook for monetary policy in the United […]
