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Canada Unemployment Rate Preview: Canadian Dollar traders to scrutinize jobs report

The Canadian Labor Force Survey report, released by Statistics Canada, is scheduled for release at 12:30 GMT, on June 9. Markets expect the Unemployment Rate to tick higher to 5.1% in May from 5% in April. Net Change in Employment, which rose by 41,400 in April, is forecast to increase by 23,200. The Bank of Canada (BoC) […]

USD Index advances modestly to the 103.40 region

The greenback, when gauged by the USD Index (DXY), regains its smile and manages to rebound from recent weekly lows near 103.30 on Friday. USD Index looks at risk trends The index picks up some upside traction following Thursday’s strong retracement to the area of 2-week lows around 103.30. The bullish attempt in the dollar comes […]

EUR/GBP rebounds to near 0.8590 as hawkish ECB bets remain steady, UK Employment eyed

The EUR/GBP pair has shown a recovery move after finding buying interest near 0.8580 in the early European session. The cross has rebounded despite the Eurostat reported a contraction in final Q1 Gross Domestic Product (GDP) numbers. On Thursday, the final Q1 GDP displayed a contraction by 0.1% while the street was expecting a stagnant performance from […]

EUR/USD now targets the 1.0850 region – UOB

Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group note the upside momentum in EUR/USD seems to be gathering traction. Key Quotes 24-hour view: Our view for EUR to trade in a range yesterday was incorrect, as it soared by 0.79% (NY close of 1.0781), its biggest 1-day advance in 2-1/2 months. Further […]

Good Morning Traders

US indices finished yesterday’s trading higher. S&P 500 gained 0.62% to 4,294 points, Dow Jones moved 0.50% higher to 33,833 points and Nasdaq 100 added 1.27% to 14,484 points. The Russell 2000 dropped 0.41%, as investors were taking profits after a good session the day before. Asian stock markets are poised for their second consecutive […]

USD/TRY extends the march north to the vicinity of 23.4000

The continuation of the intense sell-off in the Turkish lira lifts USD/TRY to a new all-time peak near the 23.4000 mark on Thursday. USD/TRY risks a deeper pullback Gains in USD/TRY continue to accelerate on Thursday, as the pair has already advanced around 12% since the opening bell on Monday and following the appointment of M. Simsek […]

US Dollar under pressure as US yields slide after jobless claims data

The US Dollar (USD) stays on the back foot in the second half of the week and continues to lose value against its main competitors. The US Dollar Index, which gauges the USD’s valuation against a basket of six major currencies, stays deep in negative territory below 104.00. In the week ending June 3, there were […]

EUR/USD: Temporary breather before a fall to key supports at 1.0557/1.0501 – Credit Suisse

EUR/USD stays seen on course to test a cluster of key supports at 1.0557/1.0501, in the view of analysts at Credit Suisse. Looking for a fall to a cluster of key supports at 1.0557/1.0501 The decline in the EUR/USD has paused near term but we view this as a temporary breather. We maintain our negative tactical […]

Australia: Q1 GDP figures surprise to the downside – UOB

Lee Sue Ann, Economist at UOB Group, assesses the recently published Q1 GDP figures Down Under. Key Takeaways Australia’s GDP came in at 0.2% q/q in 1Q23, below expectations for a reading of 0.3% q/q, and below the revised 0.6% q/q print in 4Q22 (0.5% q/q previously). From a year earlier, the economy expanded by […]

Stablecoin regulation is a sticking point between the G-7 and G-20

Global leaders are setting up universal rules and standards for the crypto sector after its headline-making implosion last year. While they appear to have reached a consensus on most things, advanced and emerging economies seem to be diverging on the treatment of stablecoins, CoinDesk has learned from two senior officials involved in key discussions. Advanced […]