US inflation expectations jump to one-month high ahead of CPI data

US inflation expectations, as per the 10-year breakeven inflation rate per the St. Louis Federal Reserve (FRED) data, rose for three consecutive days in the last to challenge the highest levels since early May by the end of Friday’s North American session. The inflation signal becomes more important considering this week’s US Consumer Price Index … Read more

NZD/USD slides back from mutli-week highs to low 0.6500s post-robust US jobs data, eyes next week’s US CPI

NZD/USD slid back to the low 0.6500s from earlier multi-week highs as the buck strengthened post-strong US jobs data. Attention turn to US CPI next week and evidence of a further easing of US price pressures could support NZD/USD. NZD/USD slipped back from multi-week highs it hit earlier in the session in the upper 0.6500s … Read more

Improving labor supply is helping ease the upward pressure on wages – Wells Fargo

The employment report released on Friday showed a gain in payrolls of 390K, above the 325K of market consensus. According to analysts at Wells Fargo, the report “lands in a sweet spot for the Fed”. They point out that while the labor market remains clearly tight and is adding to inflationary pressures, improving labor supply … Read more

AUD/USD pulls back from six-week highs near 0.7300 as risk appetite sours pre-US jobs data

AUD/USD has dropped back from six-week highs to the 0.7240s as risk appetite sours pre-US jobs data release. But the pair is holding onto substantial gains on the week amid a cocktail of bullish tailwinds. AUD/USD has pulled back from the six-week highs it hit earlier in the session in the 0.7280s and is now … Read more

GBP/USD eyes upside above 1.2600 on weak US NFP forecasts

GBP/USD is trading lackluster as investors have reduced volume ahead of the US NFP. Poor ADP Employment Change numbers have trimmed the forecasts of the payrolls data. The BOE needs to continue elevating its interest rates aggressively to contain the runaway inflation. The GBP/USD pair is auctioning back and forth in a 1.2565-1.2590 range. It … Read more

XAU/USD struggles around $1,870, upside looks likely on downbeat US NFP bets

Gold price has faced barricades at around $1,870.00 amid anxiety over the US NFP. Lower ADP Employment Change numbers are advocating a vulnerable performance from the US NFP. The DXY has slipped below 101.70 on positive market sentiment. Gold price (XAU/USD) is displaying a lackluster performance in the Asian session as investors are awaiting the … Read more

AUD/USD retreats from monthly top to 0.7250 on mixed Aussie data, sentiment ahead of US NFP

AUD/USD pares the biggest daily gains in a fortnight around 1.5-month high. Australia’s housing numbers, AiG Performance of Construction Index eased, S&P PMIs improved. US-China headlines, pre-NFP anxiety exert additional downside pressure. AUD/USD bulls take a breather around 0.7250, after refreshing the six-week high, amid the market’s indecision on early Friday. In doing so the … Read more

USD/CAD eyes further losses below 1.2600 ahead of US NFP, ISM Services PMI

USD/CAD remains pressured around six-week low after the biggest daily fall since early May. Upbeat oil prices, softer US dollar and risk-on mood weighed on the Loonie prices. Hawkish BoC Speak adds to the bearish bias, Fed speakers couldn’t lift the USD. Monthly prints of US employment, services activity gauge will be important to watch … Read more