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Forex Today: US Dollar weakens after softer US jobs data

The US Dollar Index (DXY) came under pressure near the 100.90 level after the latest United States (US) employment report showed a clear slowdown in hiring. Nonfarm Payrolls rose by only 57,000 in June, while May’s gain…

3 min read

Crude Oil forgets the war and shrugs at the tollbooth

Crude Oil finished Thursday at its lowest level in 18 weeks, which means the vast risk premium that built up around this year's conflict has fully bled away, back to pre-war levels. The interesting part is not the round…

6 min read

The Dow Jones Industrial Average sets records while the chips fall

A June jobs report that undershot expectations by nearly half sent the Dow Jones Industrial Average (DJIA) to a fresh intraday record on Thursday, which reads like a contradiction until you look at what actually moved. …

6 min read

Australian Dollar rises as weak US NFP weighs on the US Dollar

The AUD/USD pair climbed near the 0.6930 area on Thursday as the US Dollar (USD) came under pressure following softer-than-expected United States (US) labor market data. The pair advanced as investors trimmed expectatio…

2 min read

British Pound rallies as weak NFP smashes Fed hike bets

The Pound Sterling (GBP) registers solid gains against the US Dollar (USD) on Thursday after the latest US employment report missed estimates, reducing the chances of a Federal Reserve (Fed) rate hike. At the time of wr…

3 min read

Federal Reserve: Jobs slowdown supports steady rates – Commerzbank

Commerzbank’s Bernd Weidensteiner notes that weaker US employment data for June and downward revisions to prior months reduce pressure on the Federal Reserve to hike rates at the late-July meeting. With Oil prices sharp…

1 min read

Indonesia: Stabilising FX and bonds as oil eases – DBS

DBS Group Research economist Radhika Rao notes that Indonesia’s onshore FX and bond markets have stabilised following a correction in global Oil prices, though gains are modest. She highlights USD/IDR’s move below 18000…

1 min read

Gold climbs as weak US NFP sends the US Dollar to a two-week low

Gold (XAU/USD) trades on the front foot on Thursday as the US Dollar (USD) weakens amid rumors of a potential intervention by Tokyo after the Japanese Yen (JPY) hit a 40-year low earlier this week. The Greenback extende…

5 min read

New Zealand Dollar: RBNZ governance and housing signals – BNY

Geoff Yu reports that the RBNZ will keep its Monetary Policy Committee at six members ahead of the November election, after a split 3-3 vote in May where external members backed a hike. New Zealand building consents sho…

2 min read

Fed's Daly: There is a scenario where Fed has to fight inflation

While speaking at a Banco de España conference in Santander, Spain, San Francisco Federal Reserve President Mary Daly said that she doesn't see any signs of a lack of economic resiliency in the US, despite above-target …

4 min read

Chip stocks selloff extends on valuation, Meta’s pivot fears

Most Asian stock markets dropped on Thursday, dragged down by a wave of selling in semiconductor shares, as European bourses made a subdued start and Wall Street looked set to open in the red before the release of key U…

2 min read