Talking-Forex.com
Talking-Forex.com
The big wait for payrolls was the usual quiet affair, with some modest upside flow in USD/JPY, trading back up from the low 113.00’s after a nervous dip below Thursday’s lows on comments from BoJ head Kuroda – that further near term ‘easing’ is unlikely. The move ran out of steam ahead of 114.00, but after the headline NFPs printed the above-expected 242k result, we saw a renewed push through the figure but was well contained ahead of yesterday’s highs. Against this, EUR/USD was pushing higher on growing concerns the ECB will disappoint next week, retesting the 1.0970+ zone but dropping back to 1.0900 before the market then took note of the softer earnings component in the jobs report. This saw 1.1000 reclaimed alongside an eventual push higher in Cable through 1.4200, helping AUD/USD take out the .7400 level. Cross/JPY higher as Wall Street turned higher later on in the am North American session. NZD/USD pierced .6800, but looking into next week, we have the RBNZ meeting to contend with; outside calls for a cut but certainly a dovish tone to be maintained. BoC also meet next week; CAD moving on Oil through the day today. However, the highlight is the ECB convene on Thursday, with expectations of some policy action, but concerns again that it will not be enough.
The information within this website has been prepared and issued by Talking Forex on the basis of publicly available information and other sources believed to be reliable. Whilst all reasonable care is taken to ensure that the facts stated are accurate, neither Talking Forex nor any director, officer or employee shall in any way be responsible for its contents. This document is intended to provide clients with information and should not be construed as an offer or solicitation to buy or sell securities.You may cancel your service at any time, just contact us from the FAQ/support page quoting your registration email address and we will cancel your subscription as of the next billing cycle or refund your trial deposit.
Recommended Content
Editors’ Picks
EUR/USD hold comfortably above 1.0750 as USD recovery loses steam
EUR/USD clings to small daily gains above 1.0750 in the early American session on Monday. In the absence of high-tier data releases, the US Dollar finds it difficult to gather recovery momentum and helps the pair hold its ground.
GBP/USD struggles to find direction, holds near 1.2550
GBP/USD stays under modest bearish pressure and trades near 1.2550 on Tuesday. The neutral risk mood, as reflected by the mixed action seen in US stocks, doesn't allow the pair to make a decisive move in either direction. The Bank of England will announce policy decisions on Thursday.
Gold rebounds to $2,320 as US yields edge lower
After falling to $2,310 in the early European session, Gold recovered to the $2,310 area in the second half of the day. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.5% and helps XAU/USD find support.
Ripple lawsuit develops with SEC reply under seal, XRP holders await public redacted versions
Ripple lawsuit’s latest development is SEC filing, under seal. The regulator has filed its reply brief and supporting exhibits and the documents will be made public on Wednesday, May 8.
The impact of economic indicators and global dynamics on the US Dollar
Recent labor market data suggest a cooling economy. The disappointing job creation and rising unemployment hint at a slackening demand for labor, which, coupled with subdued wage growth, could signal a slower economic trajectory.