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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…
Silver price gains to near $32.60 at the expense of the US Dollar.The US NFP data will influence market speculation for the Fed’s monetary policy outlook.Easing US-China trade tensions diminishes demand for safe-haven assets.Silver price (XAG/USD) moves higher to near $32.60 during European trading hours on Friday. The white metal gains as the US Dollar (USD) corrects ahead of the United States (US) Nonfarm Payrolls (NFP) data for April, which will be published at 12:30 GMT.The US Dollar index (DXY), which tracks the Greenback’s value against six major currencies, retraces to near 99.90 from the two-week high of 100.37. Technically,…
However, forex strategists remain cautious, noting that geopolitical tensions with Pakistan and a potential rebound in the US Dollar Index could reverse the rupee’s recent momentum. | Photo Credit: PRIYANSHU SINGH The rupee strengthened above the 84 per USD mark on Friday, buoyed by strong foreign portfolio investment in the domestic equity markets and progress in US-India tariff talks.The rupee opened 39 paise stronger at 84.10 per US Dollar, compared to its previous close of 84.49. Gaining further ground against the greenback, the rupee appreciated below the 84 mark and is currently trading at 83.93. In the trading so far,…
WTI price rises due to growing optimism over a potential easing of tensions between the US and China.Trump indicated possible trade agreements with India, Japan, and South Korea while expressing optimism about resolving issues with China.Crude prices find support as bullish momentum strengthens following Trump’s firm warning of secondary sanctions against countries importing Iranian Oil.West Texas Intermediate (WTI) crude Oil price extended gains for a second consecutive session, trading near $59.40 per barrel during Asian trading hours on Friday. The rise in Oil prices was supported by growing optimism over a potential easing of tensions between the US and China,…
Gold price remains on the defensive near $3,235 in Friday’s early Asian session. De-escalation in the global trade conflict continues to undermine the Gold price. Traders brace for the US April employment report, which is due later on Friday. The Gold price (XAU/USD) edges lower to a two-week low near $3,235 during the early Asian session on Friday. The easing of trade tensions between the US and its trading partners has dented the safe-haven demand, weighing on the precious metal. US President Donald Trump announced potential trade deals with India, South Korea, and Japan, seeking to convert his tariff policy into trade agreements. Furthermore,…
USD/CAD rises marginally while the USD Index gains almost 0.5%, above 100.00.The US Dollar surges despite the US ISM Manufacturing PMI contracting at a faster pace in April.The BoC believes that the impact of previous interest rate cuts has not yet been transmitted into the economy.The USD/CAD pair edges higher to near 1.3820 during North American trading hours on Thursday. The Loonie pair moves slightly higher despite the US Dollar (USD) having attracted significant bids after the release of the United States (US) ISM Manufacturing Purchasing Managers’ Index (PMI) data.The US Dollar Index (DXY) is up almost 0.5% above 100.00…
USD/JPY posts a fresh almost three-week high around 145.00 as the Japanese Yen underperforms.The BoJ left interest rates steady at 0.5% and indicated a delay in plans of hiking interest rates further.The US Dollar surrenders some of its initial gains ahead of US Manufacturing PMI data.The USD/JPY pair surges almost 0.8% to near 144.80 during European trading hours on Thursday. The pair strengthens as the Japanese Yen (JPY) underperforms across the board, with the Bank of Japan (BoJ) indicating delay in plans of more interest rate hikes. Japanese Yen PRICE Today The table below shows the percentage change of Japanese…
The USD/CAD forecast indicates a declining US economy. Private employment in the US was lower than expected in March. The US GDP report revealed that the economy contracted by 0.3%. The USD/CAD forecast indicates a declining US economy, putting pressure on the Federal Reserve to lower interest rates in June. At the same time, Canada’s economy unexpectedly contracted, increasing the chances that the BoC will resume its easing cycle. If you are interested in automated forex trading, check our detailed guide- Data on Wednesday revealed that private employment in the US was lower than expected. The economy added 62,000 jobs…