The latest U.S. Non-Farm Payrolls (NFP) report, released today, revealed that the economy added 175,000 jobs in April. This figure fell significantly short of market expectations of a 241,000 increase, marking the smallest monthly job growth in six months and signaling a cooling labor market. The report is a crucial indicator of economic health and…
Today’s US Non-Farm Payroll (NFP) report, scheduled for release at 12:30 GMT, is set to garner significant attention from market participants. The latest Federal Open Market Committee (FOMC) decision highlighted ongoing inflation concerns, underscoring the importance of today’s data. Given the recent unpredictability in economic indicators, the NFP report may trigger unexpected market reactions. Context…
Lack of fresh perspective has kept Cable within recent ranges though fundamentals for the UK remains unchanged. While market was disappointed with the FOMC’s failure to signal a last rate hike Wednesday leading to GBPUSD’s bounce the concern in the UK is for the BoE to be ahead of the curve in cutting rates. While…
Gold has remained inside the body of Tuesday’s bearish breakout with bears failing to generate momentum of the trend line break. Within this context is a bias for the sell side that has seen a bounce in late New York trade. We continue to see geopolitics as the main driver for Gold, the latest twist…
Euro has remained stuck in a tight range for the past few days with the lack of Eurozone specific news, a holiday Wednesday, and US payrolls today keeping things subdued. Ahead though we have potentially trend changing news out of the US with the Employment Situation Report potentially reinforcing the notion of a hawkish fed…
The Japanese Yen was late to the party in responding to the FOMC meeting that market interpreted as Dovish. What was actually said by Fed Chairman Jerome Powell was that rates will be steady due to persistent inflationary pressures though some have been hoping that any rate cuts this year will be clearly ruled out….
Oil prices saw an even bigger follow through sell-off Wednesday on a surprise jump in supply as the US. The Energy Information Administration (EIA) said oil companies added a surprising 7.3 million barrels of crude into stockpiles during the week ended April 26 in the US that coupled with weaker demand should see softer prices…
The Federal Reserve, facing the ongoing challenge of high inflation, decided to hold its benchmark interest rate steady during its latest Federal Open Market Committee (FOMC) meeting. The decision was influenced by concerns about persistently high inflation, with Chair Jerome Powell emphasizing the need to be “highly attentive to inflation risks.” Key Highlights Market Reaction…
As the Federal Reserve’s Federal Open Market Committee (FOMC) prepares for its May meeting today (1800GMT) expectations for a major shift in monetary policy have been tempered. At the start of 2024, many economists anticipated that the Fed would begin preparing for potential rate cuts in light of a disinflationary environment. However, inflation has remained…
Mostly third tier money supply numbers from the UK meant that GBPUSD was centered on US issues as with the rest of the majors. Signs of more inflation pressures in the US quickly saw the greenback gaining ground across the board particularly with another FOMC meeting today in the US where the absence of rate…