Author: admin

Gold price rises on Friday, poised to end with weekly gains of nearly 4% as an employment report in the US was mixed, with the economy adding fewer jobs than projected. Still, the Unemployment Rate ticked lower, yet investors are still betting the Federal Reserve (Fed) to cut rates this year. At the time of writing, XAU/USD trades at $4,507, up 0.65%.Bullion rallies as weaker payrolls keep Fed cut bets aliveThe US economic data weighed on investors’ expectations of lower interest rates in the short term. But for the whole year, traders seem confident that the Federal Reserve would lower…

USD/CAD trades around 1.3900 on Friday at the time of writing, up 0.25% on the day, supported by a combination of macroeconomic factors favoring the US Dollar (USD) and weighing on the Canadian Dollar (CAD).The Greenback finds support following the release of mixed labor market data in the United States (US). Nonfarm Payrolls (NFP) rose less than expected in December, while the Unemployment Rate declined and wage growth accelerated. Taken together, these figures point to a labor market that is gradually cooling but remains relatively resilient, reinforcing expectations of a cautious approach from the Federal Reserve (Fed). Markets largely expect…

The Japanese Yen (JPY) extends its losses against the US Dollar (USD) on Friday, with USD/JPY pushing higher for a fourth straight day as the Greenback builds on its recent advance following the latest batch of US economic releases. At the time of writing, the pair is trading around 158.00, hovering near its highest level since January 2025 and on track for a second straight weekly gain.Data from the US Bureau of Labor Statistics (BLS) showed that job growth slowed in December. The US economy added 50,000 jobs, falling short of market expectations for a 60,000 increase and easing from…

The Pound Sterling (GBP) retraces on Friday after December’s Nonfarm Payrolls report delivered mixed figures, though traders reduced bets for an interest rate cut in January. At the time of writing, GBP/USD trades at 1.3412 after reaching a high of 1.3451.Sterling retreats on mixed US payrolls data, traders pare near-term easing expectationsThe US Bureau of Labor Statistics (BLS) revealed that the economy added just 50K people to the workforce, below estimates of 60K and the previous revised print of 56K. Although the print shows signs of weakness, the Unemployment Rate edged lower from 4.6% to 4.4%, beneath forecasts of 4.5%.The…

Rather than signaling a setback, December’s modest employment gain and rising unemployment rate reinforce our view that Canada’s labor market recovery is underway but will likely prove choppy, with slack absorbed only gradually over time, Royal Bank of Canada Senior Economist Claire Fan reports. December employment gains modest as unemployment rises”Employment grew by just 8,000 in December, following a robust 181,000 increase over the prior three months. The unemployment rate rose to 6.8% from 6.5%, driven primarily by a jump in the share of the population looking for work rather than an increase in layoffs. Even at 6.8%, the rate…

Consumer confidence in the US improved slightly to start the year, with the University of Michigan’s Consumer Sentiment Index rising to 54 in January’s preliminary reading, from 52.9 in December. This print came in slightly better than the market expectation of 53.5.The Consumer Expectations Index rose to 55 from 54.6 in this period, while the 1-year Consumer Inflation Expectation remained unchanged at 4.2%. Finally, the 5-year Consumer Inflation Expectation edged higher to 3.4% from 3.2%.Market reactionThe US Dollar Index gains traction following this report and trades at its highest level in a month at 99.25, rising 0.4% on the day.…

The Pound Sterling (GBP) is soft, down a modest 0.2% but underperforming most of the G10 currencies as we head into Friday’s NA session, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report. BoE signals dovish stance amid uncertainty on neutral rates”This week’s price action has been mixed, and broadly driven by external developments in the absence of high-level domestic data. Domestic risk returns next week as we look to industrial production and trade, as well as scheduled appearances from BoE MPC members Taylor and Ramsden. Comments from the BoE have been limited in the new year, though messaging…

The US Dollar Index (DXY) extends gains for the fourth consecutive day on Friday, reaching levels right above the 99.00 level for the first time in the last four weeks. The Greenback is drawing support from a cautious market, with US President Donald Trump’s tariffs and December’s payrolls report on focus.The US Dollar is on track for a 0.60% rally this week and a more than 1% appreciation in the last two weeks, showing the stronger performance among the major currencies so far in 2026. A mild risk-off tone amid growing geopolitical tensions in different regions of the world has…

India’s foreign exchange reserves declined by USD 9.809 billion to USD 686.801 billion in the week ending January 2, the Reserve Bank of India (RBI) reported on Friday. | Photo Credit: JASON LEE/Reuters India’s forex reserves dropped by USD 9.809 billion to USD 686.801 billion in the week to January 2, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the forex reserves had jumped by USD 3.293 billion to USD 696.61 billion. For the week ended January 2, foreign currency assets, a major component of reserves, decreased by USD 7.622 billion to USD 551.99…

The rupee declined 26 paise to settle at 90.16 (provisional) against the US dollar on Friday, weighed down by elevated global crude oil prices and persistent foreign fund outflows amid rising geopolitical tensions. A stronger greenback and weak sentiment in domestic equity markets are putting further pressure on the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened higher at 89.88 but lost ground through the day to settle at 90.16 (provisional) against the US dollar, down 26 paise from its previous close. During the day, the local currency traded between 89.88 and 90.25. On…