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  • Another day, another sell-off for the pound. The beleaguered currency just can’t catch a break with Brexit uncertainty continuing to overshadow any positive news, for example, this morning’s stronger wages data. The dollar rose ahead of US retail sales, industrial production and speeches from a couple of Fed officials including Chair Jay Powell.

  • Stocks remain supported – for now – as earnings come in thick and fast. Yesterday Citigroup kicked off bank earnings, reporting a mixed set of results. Today saw JPMorgan beat on both fronts with an EPS of $2.82 vs. $2.50 expected on revenue of $29.57 billion vs. $28.64bn expected. Goldman Sachs’ EPS of $5.81 easily beat $4.89 expected but revenues beat at $9.46 billion vs. 8.8 billion expected.  Crude oil was probing resistance ahead of inventories data later

  • On the data front, it has been a mixed day so far. New Zealand CPI met expectations with a quartet +0.6% print. German ZEW missed at -24.5 when -22.1 was expected. In the UK wages beat but jobless claims missed: Average Weekly Earnings +3.4% in the three months to May vs. 3.1% expected and 3.2% last (revised); Earnings excluding bonuses +3.6% vs. 3.5% expected and 3.4% last, and Claimant Count Change came in at +38K vs. +19K eyed. Here is what is coming up next:

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EUR/USD retreats after strong NFP, weak German data

EUR/USD is trading below   1.11 after US Non-Farm Payrolls beat expectations with 266K and mixed wage growth. Earlier, weak German data weighed on the euro. Updates on trade are awaited.

EUR/USD News

GBP/USD shrugs off strong NFP, focuses on UK elections

GBP/USD is trading below 1.3150 but off the post-NFP lows. The US gained more jobs than expected. The Conservatives remain in the lead ahead of the debate between PM Johnson and Labour leader Corbyn.

GBP/USD News

US recession? Not so fast, a calm look at the economy and currencies ahead of the NFP

Recent US economic indicators have been downbeat, but they include silver linings and are backed by robust consumption. Valeria Bednarik, Joseph Trevisani, and Yohay Elam...

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Gold drops to fresh multi-day lows on upbeat NFP report

Gold faded an intraday bullish spike to the $1480 area and tumbled to fresh multi-day lows, around the $1465 region in reaction to upbeat US monthly jobs report.

Gold News

USD/JPY: bearish ahead of US employment figures

Japanese data missed the market’s expectations, triggering fresh concerns about the economy. Focus on US employment figures, market players anticipate dismal numbers. USD/JPY is technically bearish could break below the 108.00 level.

USD/JPY News

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