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The GBP/USD outlook suggests growing concerns about the UK’s fiscal health. The UK government made a U-turn on welfare reforms. Data in the previous session revealed that the US private sector lost 33,000 jobs in June. The GBP/USD outlook suggests growing concerns about the UK’s fiscal health, which have weighed on the pound. At the same time, market participants are worried that the government might replace the current finance minister. However, dollar weakness allowed the currency to recover on Thursday. –Are you interested in learning more about MT5 brokers? Check our detailed guide- British bonds collapsed on Wednesday, dragging the…

The USD/JPY forecast shows a rebound as the dollar gains on trade optimism. The US economy lost 33,000 private jobs in June. Economists expect 120,000 new US jobs, a slowdown from the previous month. The USD/JPY forecast shows a rebound as the dollar gains on trade optimism. However, downbeat employment figures in the previous session led to an increase in Fed rate cut expectations. Market participants are now looking forward to the nonfarm payrolls report.  –Are you interested in learning more about MT5 brokers? Check our detailed guide- The dollar strengthened on Thursday after news of a trade deal between…

Nonfarm Payrolls are forecast to rise by 110K in June, lower than May’s 139K increase.The United States Bureau of Labor Statistics will release the employment data on Thursday at 12:30 GMT.The US jobs report could significantly impact the US Dollar’s performance as it provides key data to gauge the timing of the next Fed rate cut.The all-important United States (US) Nonfarm Payrolls (NFP) data for June will be released by the Bureau of Labor Statistics (BLS) on Thursday at 12:30 GMT.The June employment report will be closely scrutinized to gauge the timing of the US Federal Reserve’s (Fed) next interest…

USD/CNH struggles to gain any meaningful traction as traders keenly await the US NFP report.The technical setup favors bearish traders and backs the case for a further depreciating move.Any attempted recovery could be seen as a selling opportunity ahead of the key 7.1800 level.The USD/CNH pair extends its sideways consolidative price move for the third straight day on Thursday and remains close to the year-to-date low touched earlier this week. Spot prices currently trade around the 7.1620-7.1625 region, nearly unchanged for the day, as traders keenly await the release of the US Nonfarm Payrolls (NFP) report before placing fresh directional…

The Indian Rupee gains sharply against the US Dollar ahead of the US NFP data for June.The US NFP data will significantly influence market expectations for the Fed’s monetary policy outlook.FIIs have sold Indian equities worth Rs. 3,531.76 crores in the first two trading days of July.The Indian Rupee (INR) surges against the US Dollar (USD) during the European trading session on Thursday. The USD/INR pair posts a fresh monthly low near 85.40 as the US Dollar drops ahead of the United States (US) Nonfarm Payrolls (NFP) data for June, which will be published at 12:30 GMT.The US NFP report…

USD/CAD rebounds to around 1.3595 in Thursday’s early European session. The pair keeps the negative outlook below the 100-day EMA with a bearish RSI indicator. The initial support emerges at 1.3555; the first upside barrier is located at 1.3700.The USD/CAD pair recovers some lost ground to near 1.3595 during the early European session on Thursday. The potential upside for the pair might be limited as weaker AUS ADP employment numbers supported market expectations of a Federal Reserve (Fed) interest rate cut. The attention will shift to the US Nonfarm Payrolls (NFP) report for June, which will be published later on Thursday. According to…

The Australian Dollar remains subdued after the trade surplus narrowed to 2,238M MoM in May, against the expected 5,091M.China’s Caixin Services PMI fell to 50.6 in June from 51.1 in May, missing the market expectations of 51.0.Traders expect the US Nonfarm Payrolls to increase by 110,000 in June.The Australian Dollar (AUD) holds losses against the US Dollar (USD) on Thursday following the release of key economic data. However, the downside of the AUD/USD pair could be restrained as the US Dollar (USD) may lose ground amid rising expectations that the Federal Reserve (Fed) will cut interest rates, driven by the…

The rupee depreciated 8 paise to 85.70 against the US dollar in early trade on Thursday amid renewed headwinds from global risk sentiment and persistent foreign fund outflows. Forex traders said the rupee was trading in a narrow range largely due to RBI’s cautious strategy as any dip in USD-INR is likely to be met with dollar buying by the RBI, not only to manage maturities but also to rebuild its intervention cushion. This persistent demand for dollars by the central bank is limiting the gains for the rupee, they said. At the interbank foreign exchange, the domestic unit opened…

Gold price stalls ahead of Thursday’s Nonfarm Payrolls (NFP) report for clues on the health of the US labour market.Fiscal concerns continue to rise as Trump’s tax bill moves to the next stage. If passed, the budget deficit is expected to rise, which could boost demand for Gold.XAU/USD lingers below $3,350 as momentum indicators remain steady above neutral territory.Gold (XAU/USD) price is trading in a tight range as traders digest Wednesday’s Automatic Data Processing (ADP) employment data and look ahead to Thursday’s Nonfarm Payroll (NFP) report.With XAU/USD hovering near $3,340 at the time of writing, US President Trump’s tax bill…

GBP/JPY stays under strong selling pressure and trades below 196.00 on Wednesday.UK gilt selloff weighs on Pound Sterling.UK Prime Minister Keir Starmer refused to confirm that finance minister Rachel Reeves will remain in her position.Pound Sterling stays under heavy selling pressure on Wednesday as markets assess the latest political developments in the UK. At the time of press, GBP/JPY was trading at its lowest level in two weeks near 195.50, losing 0.8% on a daily basis.British finance minister Rachel Reeves seemed visibly upset during PMQs on Wednesday after Prime Minister Keir Starmer refused to guarantee that she would remain in…