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EUR/USD slips as the US Dollar steadies on mixed US labor data and weak Eurozone Retail Sales.US private payrolls increased by 54K in August, below the 65K forecast and sharply lower than July’s revised 106K.Focus now on US services sector data, with S&P Global PMIs expected to hold steady at 55.4 and ISM Services PMI projected at 51.0.The Euro (EUR) is under pressure against the US Dollar (USD) on Thursday, with EUR/USD retracing part of Wednesday’s advance and trading near 1.1645 at the start of the American session. The mild pullback comes as the Greenback regained traction following a mixed…

The rupee fell 12 paise to close at 88.14 (provisional) against the US dollar on Thursday amid sustained foreign fund outflows and a stronger greenback. However, positive sentiment in the domestic equity markets — which were buoyed by the GST rate revision — and a drop in international crude oil prices prevented sharper losses in the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 88.09 against the US dollar and traded in the range of 87.85-88.19 before settling at 88.14 (provisional), down 12 paise from its previous close.The rupee recovered 13 paise from…

The US ISM Services PMI is expected to improve a tad in August. The US services sector should remain in the expansionary territory.Speculation of two rate cuts from the Fed this year remains on the rise.On Thursday, we’ll get the latest read on the US services sector when the Institute for Supply Management publishes its August Services PMI. Economists think the index will tick up to 51 from July’s 50.1. If they’re right, that would be the third month in a row the sector has grown, another reminder of its staying power and a small lift for confidence in the…

GBP/USD rebounds from 1.3332 lows 1.3442 as US Dollar slips after Tuesday’s sharp rally above DXY 98.50.US JOLTS report shows July job openings fell sharply, highlighting tariffs’ drag on hiring and manufacturing weakness.UK Services PMI jumps to 54.2, easing fiscal worries, while BoE officials stress inflation risks and policy caution.The GBP/USD advances during the North American session up by 0.39% following the release of economic data from the United States (US). Also, fears of the UK’s government being unable to meet its fiscal requirements eased on signs that the economy continued to fare well. The pair trades at 1.3442 after…

Gold continues to push higher, sets new all-time-high.The US Dollar comes under renewed selling pressure after employment-related data.XAU/USD remains on track to end the seventh consecutive trading day in positive territory.Gold extended its uptrend in the second half of the day on Wednesday and touched a new record-high above $3,560. At the time of press, XAU/USD was trading near $3,560, rising 0.85% on a daily basis. For the week, Gold is already up more than 3%.Gold benefits from renewed USD weaknessGold capitalized on safe-haven flows on Tuesday and gained more than 1.5%. The intense selloff seen in global bond markets,…

Atlanta Federal Reserve (Fed) President Raphael Bostic said that high inflation remained the Fed’s main risk, but added that signs of labour market weakness still pointed to a single quarter-point rate cut this year.Key QuotesPrice stability remains the primary concern, though a single quarter-point rate cut still looks appropriate this year.Risks to inflation and the job market are closer to balance, but inflation is still above target.The full implications of trade policy and other changes remain unclear.Tariffs’ effect on consumer prices won’t fade quickly and may take months to materialise.Firms can’t absorb higher tariffs for much longer.We will not be…

The number of job openings on the last business day of July stood at 7.18 million, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Wednesday. This reading followed the 7.35 million (revised from 7.43 million) openings recorded in June and came in below the market expectation of 7.4 million.”Over the month, both hires and total separations were unchanged at 5.3 million. Within separations, both quits (3.2 million) and layoffs and discharges (1.8 million) were unchanged,” the BLS noted in its press release and continued:”The number of job openings decreased in…

The USD/JPY forecast indicates continued yen weakness amid political uncertainty in Japan. The Secretary General of Japan’s ruling party is planning to resign. Economists are predicting a low US job growth of 75,000.  The USD/JPY forecast indicates continued yen weakness amid political uncertainty in Japan. Meanwhile, the dollar is on the front foot as market participants prepare for Friday’s crucial US employment report.  –Are you interested in learning more about forex indicators? Check our detailed guide-  The yen slid on Tuesday after reports that the Secretary General of Japan’s ruling party was planning to resign. Hiroshi Moriyama is a close…

The Indian rupee ended higher on Wednesday even as most Asian currencies fell, with market participants betting on the unit staging a recovery in the near term, while weakness in the dollar index and strong local shares also aided sentiment. The currency ended at 88.0700, up 0.1% from Tuesday’s close of 88.1550. It hit an intraday high of 87.9900 before declining below the 88-mark. The rupee, which is among the worst-performing Asian currencies this year, hit an all-time low of 88.33 per dollar on Monday on outflows as well as concerns from the fallout of U.S. tariffs.A Reuters poll of…

The rupee recovered 9 paise from its all-time low level to settle at 88.06 (provisional) against US dollar on Wednesday, on positive domestic equities, softening of crude oil prices and weak US dollar index.Forex traders said the rupee is trading near all-time low levels amid persistent foreign fund outflows on the back of ongoing trade tariff concerns between India and the US.At the interbank foreign exchange market, the rupee opened at 88.15 against the US dollar, then fell to an intraday low of 88.19 and a high of 87.98 against the American currency.The domestic unit finally settled for the day…