Share: AUD/USD remains under some selling pressure for the fourth successive day on Thursday. China’s economic woes and RBA rate cut bets weigh on the Aussie amid the recent USD rally. Dovish Fed expectations might cap any further USD gains and … [Continue reading]
AUD/NZD tests 1.0660 as Aussie tumbles across the board
Share: The AUD/NZD is down 0.8% on the week as the Aussie backslides. The Aussie sees six-week lows against the Kiwi. The next target for sellers will be 1.0600. The AUD/NZD is down five-tenths of a percent from Monday’s opening bids near 1.0875, … [Continue reading]
Mexican Peso advances against the US Dollar ahead of Mexico’s inflation report
Share: Mexican Peso stages a comeback as the USD/MXN breaks key support at the 100-day SMA, eyeing 17.00. Mexico’s Consumer Confidence has improved the most since 2019. US ADP Employment Change was softer than expected, weighed on the US Dollar. … [Continue reading]
US Dollar retreats as ADP triggers Greenback weakness
Share: The DXY US Dollar Index could snap its winning streak after ADP print. Traders are seeing ADP still holding above 100,000 despite undershooting estimates. The US Dollar Index retreats from 104 and could be heading sideways into … [Continue reading]
USD/JPY is steady below 147.45 resistance ahead of the US ADP report
Share: The Dollar remains moderately bid, ready to test resistance at 147.50. Dovish comments from BoJ’s Himino are weighing on the Yen. The US ADP later today is likely to determine USD’s near-term path. The US Dollar keeps a mild bid tone on the … [Continue reading]
Gold Price Forecast: XAU/USD finds buyers near $2,020, awaits US ADP jobs data
Share: Gold price is picking up fresh bids near $2,020 as the US Dollar slips despite a risk-off mood. Positive US Treasury bond yields could cap the Gold price rebound. All eyes on US ADP jobs data for a fresh trading impetus on Gold price. … [Continue reading]
Australian GDP expands 0.2% QoQ in Q3 vs. 0.4% expected
Share: Australia’s Gross Domestic Product (GDP) rose 0.2% in the third quarter of 2023 compared with the 0.4% growth in Q2, the Australian Bureau of Statistics (ABS) showed on Wednesday. This reading came in below expectations of 0.4%. The … [Continue reading]
EUR/USD Forecast: Euro drops to the 100-day SMA, negative momentum persists
Share: The US Dollar Index rose to two-week highs despite mixed US data. The EUR/USD fell for the fifth consecutive day, to test the 100-day SMA. Bearish bias will remain in place while under 1.0915. The EUR/USD dropped again and extended … [Continue reading]
Breaking: US JOLTS Job Openings fall to 8.7 million in October vs. 9.3 million forecast
Share: The number of job openings on the last business day of October stood at 8.7 million, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Tuesday. This reading followed 9.35 million … [Continue reading]
US JOLTS Preview: Job openings expected to decline slightly, remain above nine million in October
Share: The US JOLTS data will be watched closely by investors ahead of the November jobs report. Job openings are forecast to edge lower to 9.3 million on the last business day of October. US labor market conditions remain out of balance as … [Continue reading]