The Dow Jones found new all-time highs on Friday before trimming gains. US consumer sentiment took an unexpected hit in August. Consumers are beginning to sour on economic outcomes as tariff effects begin to crop up. The Dow Jones Industrial Average (DJIA) surged to record highs early on Friday, touching chart territory north of 45,250…
Australia’s Unemployment Rate dropped to 4.2% in July from 4.3% in June, according to the official data released by the Australian Bureau of Statistics (ABS) on Thursday. The figure came in line with the market consensus of 4.2%. Furthermore, the Australian Employment Change arrived at 24.5K in July from 1K in June (revised from 2K), compared…
EUR/USD is up 0.50% to 1.1673 after July US CPI shows a flat headline but a hotter core print. Markets still price in >90% chance of a September Fed rate cut despite core CPI beat. Trump slams Powell for being “too late” on cuts, threatens lawsuit over Fed building renovations. The EUR/USD rises during the…
EUR/USD down 0.30%, trading at 1.1605 after touching daily high of 1.1675. US Dollar bought ahead of US July CPI release; hot print could dampen Fed rate cut bets. Italy’s July inflation steady at 1.7% YoY, matching ECB target and June reading. Trump–Putin talks may yield Ukraine ceasefire progress, potentially easing EU energy costs. The…
EUR/USD trades at 1.1648, easing 0.14% but holding close to the 1.1700 mark. Reports suggest Trump–Putin meeting next week could lead to ceasefire in Eastern Europe. Euro’s upside capped by stronger USD and speculation over Waller’s potential nomination as next Fed Chair. The EUR/USD consolidates near the week’s highs, shy of testing the 1.1700 figure…
The Pound Sterling trades firmly against the US Dollar around 1.3450 as traders trim bets supporting BoE’s interest-rate cuts this year. Fed Governor Waller could be nominated as Chairman Powell’s successor. Investors await UK employment and US CPI data next week. The Pound Sterling (GBP) clings to three-day gains around 1.3450 against the US Dollar…
EUR/USD rallies from 1.1391 to 1.1554, gaining over 1% on Friday. July Nonfarm Payrolls show just 73K jobs added; May–June revisions slash 258K jobs. Fed funds futures price in 62 bps of easing by December; 76% odds of a September rate cut. EU inflation data beats forecasts: HICP at 2.4% YoY, core HICP steady at…
The Canadian Dollar caught a much-needed boost against the US Dollar on Friday. Bearish Loonie flows reversed direction after the US Dollar took a hit post-NFP. Souring US jobs data has knocked the Greenback sharply lower. The Canadian Dollar (CAD) came out on top after a messy US Nonfarm Payrolls (NFP) release shattered global positioning…
The US Dollar is holding firm after its strongest daily gain since May, fueled by the US-EU trade agreement. The Dollar Index (DXY) is up over 2.0% in July, on pace for its first monthly gain since December. US JOLTS Job Openings fell to 7.437 million in June, below expectations, indicating a slow labor market…
EUR/USD boosted by signs of imminent US–EU deal ahead of August 1 deadline. US Durable Goods Orders miss, but jobless claims stay strong, supporting Fed hold expectations. ECB holds rates steady; next week’s focus shifts to key Fed policy decision on July 30. The EUR/USD finished the week up by nearly 1% on Friday, yet…