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The USD/CAD outlook suggests growing concerns about the US labor market. Private employment in the US increased by 54,000 in August. The Fed will likely be more dovish than the Bank of Canada in the future. The USD/CAD outlook suggests growing concerns about the US labor market, which is driving up expectations for a Fed rate cut. Meanwhile, a Reuters poll revealed that economists expect the Canadian dollar to gain in the next twelve months. –Are you interested in learning more about forex indicators? Check our detailed guide- Data on Thursday revealed that private employment in the US increased by…
The rupee rose 1 paisa to 88.11 against the US dollar in early trade on Friday on the back of a weaker greenback and a drop in global crude oil prices. However, sustained FII outflows capped further gains in the local unit, according to forex traders. Positive sentiments in the domestic equity markets further lent support to the rupee, which had slipped to its record low-level earlier this week, they said. At the interbank foreign exchange, the rupee opened at 88.11 against the US dollar and then slipped to 88.15 before returning to 88.11, up 1 paisa from its previous…
Federal Reserve Bank of Chicago President Austan Goolsbee said on Friday that US labor market might be deteriorating, adding that there is a bit of wait-and-see because of uncertainty.Key quotesLabor market might be deteriorating.Inflation might be picking back up.There is a bit of wait and see because of the uncertainty.Rates are better indicators for labor market than raw job growth.Market reactionAt the time of press, the US Dollar Index (DXY) was down 0.01% on the day at 98.28. Fed FAQs Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster…
USD/JPY trades flat around 148.50 in Friday’s early Asian session. ADP and Initial Jobless Claims data indicated a weakening labor market. The US August NFP report will be closely watched later on Friday. The USD/JPY pair flat lines near 148.50 during the early Asian session on Friday. Traders prefer to wait on the sidelines ahead of the crucial US economic data. The highly anticipated Nonfarm Payrolls (NFP) for August will take center stage later on Friday.Data released on Thursday showed that the US Initial Jobless Claims increased more than expected last week, consistent with softening labor market conditions. Additionally, the ADP National Employment…
USD/CHF trades at 0.8056, stuck between 0.8050–0.8100 range as buyers and sellers lack clear control.Bears eye 0.7985 August low for downside extension, while bulls target 0.8104 and 100-day SMA at 0.8123.RSI hovers at neutral 50; Nonfarm Payrolls seen as decisive trigger for next directional breakout.The USD/CHF remains steady at around the 50-day Simple Moving Average (SMA) of 0.8051, consolidates at around the 0.8050-0.8100 figure for the fourth straight day. At the time of writing, the pair trades at 0.8056 up 0.01%.USD/CHF Price Forecast: Technical outlookPrice action shows that neither buyers nor sellers are in control as the USD/CHF meanders around…
US President Donald Trump signed an executive order implementing his trade agreement with Japan, which calls for a maximum 15% tax on most of Japan’s imports, including automobiles and parts, Bloomberg reported late Thursday. The White House further stated that Japan is working toward the expedited implementation of a 75% increase in US rice procurements. The 15% tax applies retrospectively to most items shipped beginning August 7, when the US president’s tariffs on dozens of trade partners went into effect. Relief for aerospace and automobile imports would take effect within 7 days after Thursday.Market reactionAt the time of press, the USD/JPY pair was down…
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…