FX Weekly Recap: June 3 – 7, 2024
Global PMI’s & U.S. jobs data had traders running to CHF & JPY this week, so much that they survived the USD’s last minute pump after the Non-Farm Payrolls report!
Global PMI’s & U.S. jobs data had traders running to CHF & JPY this week, so much that they survived the USD’s last minute pump after the Non-Farm Payrolls report!
Markets S&P 500 down 2.0% WTI crude oil down 84-cents to $69.08 US 10-year yields down 12 bps to 4.25% Gold up $28 to $3084 JPY leads, NZD lags What’s worrisome about today’s price action was that there was a fair bit of good news. Yes, UMich was poor and the spending in PCE stumbled…
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European currencies have retreated from local highs amid a decline in risk appetite and ahead of the release of key US labour market data. Market participants are opting to reduce exposure before the publication of the employment report, which could set the direction for the US dollar and adjust expectations regarding the Federal Reserve’s next…
Headlines: Markets: Brent crude down 3% to $96.40 WTI crude (May contract) down 3.5% to $91.30, WTI crude (June contract) down 3.5% to $88.00 June contract for WTI has more open interest and volume, provides a better read on “front-month” price S&P 500 futures up 0.2%, major indices in Europe up 0.1% to 0.5% US…
EUR/USD edge higher to 1.1803 last week but retreated. Initial bias remains neutral this week first. On the upside, break of 1.1803 will extend the rally from 1.1467 to retest 1.1917 high. However, firm break of 55 D EMA (now at 1.1640) will turn bias back to the downside for 1.1467 support, to extend the…
Posted 1 hour ago Share Print The Australian dollar has steadied after pummeling the US dollar over the past two sessions. AUD/USD is trading at 0.6729 in the European session, down 0.04% on the day at the time of writing. RBA minutes: Rates will remain steady The RBA minutes from the meeting earlier this month…