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The Mexican Peso extends its gains against the US Dollar as markets adopt a ‘risk-on’ sentiment following the easing of US-China tensions.USD/MXN remains in a short-term bearish trend below 19.20.US-Mexico tensions remain in focus next week as Mexico condemns 50% tariffs on steel and aluminium imports to the US.The Mexican Peso (MXN) is experiencing its third consecutive day of gains against the US Dollar (USD) on Friday, pushing the USD/MXN exchange rate to its lowest level in eight months.With the emerging market pair trading near the October low of 19.11, bearish momentum of the short-term trend continues to hold. The…

USD/JPY climbs 0.87% to 144.83, nearing breakout above the Ichimoku Cloud.Strong US jobs report and higher Treasury yields fuel Greenback’s rally.Bulls eye 146.00 and May 29 high at 146.28 as next upside targets.USD/JPY extended its uptrend for two consecutive days, with the major currency pair reaching a new weekly high of 145.09, driven by solid US economic data on Friday. A strong US Nonfarm Payrolls report, rising US Treasury bond yields, and a slightly positive shift on sentiment toward US assets boosted the Greenback. At the time of writing, the pair trades at 144.83, up 0.87%.USD/JPY Price Forecast: Technical outlookThe…

The Dow Jones tested 13-week highs on Friday after NFP jobs data beat the street.China approved rare earth exports to the US, bolstering trader hopes for a continued easing of tariffs.Key US inflation data coming up next week, tariff impacts due to begin leaking into headline data.The Dow Jones Industrial Average (DJIA) briefly tested fresh 13-week peaks on Friday, with equities taking a step higher after Nonfarm Payrolls (NFP) jobs data came in stronger than expected. Trade tensions, or at least market perception of them, are also easing, keeping major indexes broadly bolstered to wrap up an otherwise middling trading…

Sterling still set for weekly gain over 0.80% amid broad Greenback weakness earlier in the week.US economy added 139K jobs in May, beating forecasts and reinforcing Fed’s cautious stance on rate cuts.Dollar strength resurfaces, with DXY climbing 0.58% to 99.28, its highest in two days.GBP/USD tumbled during the North American session, down over 0.30% after the latest jobs report in the United States (US) maintained the status quo, with the economy remaining strong. The pair traded at 1.3526 after hitting a daily high of 1.3586.Pound retreats below 1.3550 after NFP beats estimates, lifting the US Dollar and dampening dovish expectationsUS…

US NFP labor report eases expectations of a Fed rate cut, pushing XAU/USD prices lower.USD receives a boost from easing US-China tensions and better-than-expected US employment data on Friday, capping Gold gains.Gold prices threaten channel support with psychological resistance at $3,350.Gold prices are extending losses against the US Dollar (USD) on Friday, falling below prior psychological support, now resistance, at $3,350, after the US Nonfarm Payrolls (NFP) report showed a resilient labour market.After a week of data suggesting a softening US labor market, the Nonfarm Payrolls (NFP) report for May surprised to the upside. The US economy added 139,000 new…

United States (US) President Donald Trump took to social media on Friday to call upon Federal Reserve (Fed) Chairman Jerome Powell to lower interest rates.”There is virtually no inflation (anymore), but if it should come back, raise ‘rate’ to counter. Very simple!!! He is costing our country a fortune. Borrowing costs should be much lower,” Trump said on Truth Social.Earlier in the day, the data published by the US Bureau of Labor Statistics (BLS) showed that Nonfarm Payrolls rose by 139,000 in May. On a concerning note, the BLS noted that total Nonfarm Payroll employment for March and April was…

Like a thief in the night, Silver prices broke through $35/oz. Last time Silver broke this range, it took roughly 6 weeks to trade $50/oz, TDS’ Senior Commodity Strategist Daniel Ghali notes. No guarantees in Silver rally as ETF flows near extremes”We highlighted this breakout was 1) related to futures-driven flows, 2) which transacted across several metals simultaneously, and 3) was traded over the Asia session but appears unrelated to the largest Chinese traders in SHFE Silver. There’s nothing wrong with a good old-fashioned futures-led breakout, but the psychologically-relevant break must attract subsequent inflows for momentum to persist.” “Chinese trader…

Despite muted ETF flows and flat Western macro participation, positioning data shows Chinese Gold speculators pushing SHFE Gold to record highs, setting the stage for a potentially range-bound market — with several bullish catalysts looming, TDS’ Senior Commodity Strategist Daniel Ghali notes. China speculators buy, western funds wait”Our tracking of positioning for the largest traders in SHFE Gold highlights this cohort has accumulated a new all-time-high position size. Interestingly, Chinese Gold ETF flows remain muted, but signs of selling exhaustion continue to permeate from this cohort.””Western macro funds remain flat in aggregate. CTAs are now ‘max long’ but not vulnerable to sell.…

Nonfarm Payrolls (NFP) in the United States (US) rose by 139,000 in May, the US Bureau of Labor Statistics (BLS) reported on Friday. Developing story, please refresh the page for updates.Follow our live coverage here.This section below was published as a preview of the May Nonfarm Payrolls data at 05:00 GMT.Nonfarm Payrolls are expected to rise by 130K in May, down from the 177,000 increase recorded in April.The United States Bureau of Labor Statistics will publish the employment report at 12:30 GMT.The US employment report could influence the odds of a July Fed rate cut, rocking the US Dollar.Nonfarm Payrolls…

The rupee pared initial losses and appreciated 11 paise to close at 85.68 (provisional) against the US dollar on Friday, after the Reserve Bank cut repo rate by a higher-than-expected 50 basis points to prop up growth.Forex traders said the rupee traded on a flat-to-positive note as the RBI surprised the market with a jumbo rate cut. Besides, the rate cut supported by a phased 100 basis points CRR reduction will lower the borrowing costs and boost growth. Moreover, a surge in the domestic markets supported the rupee at lower levels with both the indices settling with gains of over…