Weekly Initial Jobless Claims decline to 229K vs. 227K expected

Initial Jobless Claims declined by 2,000 in the week ending June 18. US Dollar Index holds in positive territory near 104.50. There were 229,000 initial jobless claims in the week ending June 18, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of … Read more

Australian Unemployment Rate steadies at 3.9% in May vs. 3.8% expected

The Australian Unemployment Rate arrived at 3.9% in May, the Australian Bureau of Statistics (ABS) showed in its latest data published on Thursday. In April, the jobless rate hit the lowest since 1974 at 3.9%. The market consensus was for a drop to 3.8% in the reported month. more to come … Why Australian employment … Read more

Bounces off 162.60 support confluence ahead of UK jobs report

GBP/JPY takes the bids to refresh intraday high while snapping three-day downtrend. Convergence of the 50-DMA, 20-DMA and monthly support line immediate challenge downside. Bulls need validation from March’s high, UK employment numbers. GBP/JPY refreshes intraday high around 164.00 as traders await the UK’s employment data during early Tuesday morning in Europe. The pair’s latest … Read more

USD/CAD spikes to fresh two-week high post-US CPI, bulls ignore upbeat Canadian jobs data

The USD strengthened across the board and pushed USD/CAD to a fresh two-week high. Stronger US CPI reaffirmed expectations hawkish Fed and provided a strong lift to the buck. Better-than-expected Canadian CPI did little to benefit the loonie or hinder the move up. The USD/CAD pair added to its intraday gains and shot to a … Read more

AUD/USD skids to near 0.7220, upside remain favored on weak DXY, US Inflation buzz

AUD/USD is expected to rebound after a corrective move on positive market sentiment. The RBA elevated its OCR by 50 bps despite the downbeat job additions. The US core CPI is likely to slip to 5.9% from the former figure of 6.2%. The AUD/USD pair has slipped to near 0.7224 after failing to cross 0.7240 … Read more

USD/CAD drops back below 1.2600 on sluggish oil, US inflation, Canada employment eyed

USD/CAD fades bounce off six-week low amid lackluster markets. Oil prices struggle around three-month high as China’s post-covid unlock battles supply-linked headlines. US NFP, hawkish Fedspeak renewed bets on Fed’s aggression but this week’s inflation data is the key. BOC hiked rates for the second time in 2022, which in turn dims the importance of … Read more

GBP/USD to move back in the 1.26 range?

GBP/USD Forecast: Sellers remain hesitant as pound holds above key support GBP/USD has started to consolidate its recovery gains around mid-1.2500s on Friday with investors moving to the sides ahead of key data releases from the US. Significant support area seems to have formed at the 1.2540/1.2550 area and buyers could remain interested as long … Read more