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USD/MXN flats near 19.58 as soft Mexican manufacturing and Banxico’s dovish tilt weigh against strong US jobs data.Mexico’s dismal data suggests the economic slowdown might continue as PMI hits three-year low, business confidence deteriorates.Banxico is seen cutting rates in May, widening policy gap with Fed and pressuring Peso outlook.The Mexican Peso (MXN) remained firm against the US Dollar (USD), though it is poised to finish the week with losses of over 0.40% after economic data revealed in Mexico painted a gloomy economic outlook, despite the fact that the economy surprisingly grew in the first quarter of 2025. Also, solid US…

EUR/JPY trades near the 164.00 zone after a modest pullback ahead of the Asian session.Overall bias stays bullish, with trend indicators aligned to the upside.Support levels hold below while short-term indicators remain neutral.The EUR/JPY pair edged slightly lower on Friday but continues to trade near the 164.00 zone as the market transitions into the Asian session. While price action eased from recent highs, the pair remains comfortably within the mid-range of the day’s movement. The pullback hasn’t altered the broader bullish outlook, which is supported by rising trend-based indicators across multiple timeframes.Technically, EUR/JPY maintains its bullish stance. The Moving Average…

XAU/USD slumps, set to lose over 2.5% weekly as traders scale back Fed rate cut bets and risk appetite improves.April NFP beats estimates; unemployment steady at 4.2%, curbing aggressive Fed easing expectations.China says the US is open to trade talks, boosting sentiment and pressuring Gold.Gold (XAU/USD) price edged down over 0.35% on Friday, poised to end the week with losses of over 2.50%. An improvement in risk appetite due to easing trade tensions alongside a strong labor market report in the United States (US) prompted investors to book profits ahead of the weekend. At the time of writing, XAU/USD trades…

April Nonfarm Payrolls beat consensus at 177K; Unemployment Rate steady at 4.2%, easing recession concerns.Trump pressures Fed to cut rates despite upbeat data; CBOT shows 88 bps of easing priced in.Apple and Amazon fall on China sales miss and cloud growth slowdown despite beating EPS forecasts.The Dow Jones Industrial Average (DJIA) rallied over 600 points, or over 1.65%, on Friday following a solid US jobs report that brushed aside fears that the largest economy in the world is tied into a recession. The Dow is set to end the week with gains of over 3% and, at the time of…

EUR/CAD trades around the 1.5600 zone following a quiet Friday session post-Europe.Bullish structure holds, though short-term momentum indicators remain mixed.Long-term trend indicators favor upside while near-term resistance levels begin to cap price.The EUR/CAD pair hovered near the 1.5600 zone on Friday after the European session, showing little change on the day but maintaining a steady bullish bias overall. Price action remains confined to the middle of the daily range, reflecting ongoing consolidation. While short-term signals show hesitation, the broader outlook is supported by strong trend-based indicators positioned below current levels.From a technical standpoint, EUR/CAD retains a bullish posture, albeit with…

European Central Bank (ECB) Vice President Luis de Guindos said in an interview with Germany’s Die Presse that there are no signs of weakening in the European currency so far.Key QuotesCan be optimistic on phase of interest rate cuts continuing.Keeping a close eye on exchange rate developments.There are currently no signs of Euro weakening. Source

EUR/USD was seen around the 1.1400 zone after advancing post-European session on Friday.Bullish outlook remains intact, though momentum indicators point to hesitation.Key moving averages support upside continuation, with resistance emerging nearby.The EUR/USD pair extended higher on Friday, pushing into the 1.1400 zone after the European session, as buyers retained control in the broader trend. Despite the advance, underlying momentum remains uncertain, with mixed signals from short-term indicators. The broader technical structure, however, remains constructive, supported by firm positioning of major moving averages that continue to trend upward.From a technical perspective, the pair is flashing a bullish bias overall. The Relative…

The USD/CAD is trading lower around the 1.3800 area, giving up recent gains amid a broadly weaker US Dollar and improving risk sentiment.US Nonfarm Payrolls came in better than expected at 177,000, but soft ISM and jobless claims data keep Fed rate cut bets intact, while Canada remains sidelined.Technical indicators remain bearish, with key resistance at 1.3844 and support levels eyed around 1.3760.The USD/CAD is trading with losses around the 1.3800 level on Friday, as the pair continues to retreat from the prior session’s highs. The move comes as the US Dollar weakens broadly across the board after a failed…

US NFP beats at 177K, but Fed seen delivering only three cuts instead of four.DXY drops 0.58% to 99.59, fueling demand for risk-sensitive currencies like the Aussie.Traders favor AUD as risk appetite improves and US policy outlook remains data-dependent.The Australian Dollar surged to a new year-to-date (YTD) high of 0.6469, gaining over 1.20% following a strong jobs report in the United States (US) that suggested the economy remains solid.AUD/USD jumps 1.20% to 0.6469 as Dollar weakens on shifting Fed rate cut bets and upbeat risk sentimentNonfarm Payroll figures in April rose by 177K, up from 130K projected, and trailed March’s…

The rupee on Friday hit a seven-month high and rose past the 84 per dollar level on sustained foreign fund inflows and stronger domestic data, but pared the gains and settled for the day higher by just 1 paisa at 84.53 against the greenback. In a highly volatile trade, the rupee on Friday touched an intra-day high of 83.76 — the highest levels since October 2024 — but failed to sustain the momentum and ended the session on a flat note with gains of just 1 paisa. Forex traders said goods and services tax (GST) collections for April were robust…