The USD/CHF is trading lower for the fourth straight day, following a continuation of the bearish sentiment that has permeated the US Dollar for several weeks now. The latest consignment of weakness was fueled by the weak employment report of Friday, which saw the unemployment rate in the US climb from 6.0% to 6.1%, along … Read more
The recent upsurge in the EUR/USD, which comes on the back of USD weakness as per current data, is reflected in the latest version of the CFTC Positioning Report. According to the report, speculators raised their gross long positions on the single currency for a third straight week, allowing net longs to hit 7-week highs. … Read more
Last Friday’s NFP report disappointed. The US economy added much fewer jobs in April than the market expected, so the dollar was sold across the board. The funny thing is that the dollar traded with a weak tone well before the NFP report. The higher stocks/lower dollar theme is the dominant one in the last … Read more
The Filecoin price continues to trade within a narrowing sideways range, but at some stage, that will change and is likely to bring a big move. During the early April bull run, the Filecoin price got to the dizzy heights of $236.0000. The 1000% rally in the first 4 months of 2021 sent the coin … Read more
The FTX token price continues its ascent higher and is currently trading at $61.3000 after setting a new high at 62.800 earlier today. The FTX token (FTTUSD) is similar to Binance Coin and Huobi Token and is the native cryptocurrency of a trading exchange. A relative newcomer to the space, the FTX platform launched in … Read more
After a test of the 50-Day Moving average at 1.1600, the GBP/EUR pair is again staring at the important 1.14570 support level. The British Pound finished the week against its European rival at 1.14997 after failing to break above 1.16000 earlier in the week. This now puts the 1.14700 back in the frame. The Bank … Read more
GBPUSD looks set to break above the key 1.4000 level as disappointing job numbers point to further losses for the US Dollar. The British pound finished the week at 1.3985 after once again testing the important resistance against the Dollar. Weaker than expected, actually much weaker than expected, Non-Farm Payrolls data out of the U.S … Read more
The USD/ZAR’s decline for the 3rd straight session follows disappointing Non-farm Payrolls numbers. In a Bloomberg TV interview, Minneapolis Federal Reserve President Neel Kashkari said the NFP report validates the Federal Reserve’s outcome-based approach to monetary policy. The NFP outcome showed a rise in the unemployment rate from 6.0% to 6.1%, and an addition of … Read more
The USD Index (DXY) retreated to 3-month lows after disappointing NFP numbers showed that US employment is yet to recover sufficiently to warrant hawkish Fed action. The NFP showed an employment change of 266K (consensus of 990K) and a rise in the unemployment rate from 6.0% to 6.1%. This reading sealed a lousy week for … Read more
The GBP/USD has rallied to 1-week highs after a disappointing Non-farm Payrolls (NFP) report. According to data released by the US Department of Labor, 266K jobs were added to the US economy in April, a far cry from the market projection of 990K and less than last month’s downward revision of 770K jobs. The unemployment … Read more
USD/CAD has eased after dropping from C$1.2288 to C$1.2142 in the previous session. The rising risk appetite, coupled with lower-than-expected ADP job numbers on Wednesday, has weakened the US dollar. The dollar index, which tracks the value of the greenback against a basket of currencies, is at 90.91. It has been on a decline for … Read more
EUR/USD is trading higher ahead of the US nonfarm payrolls (NFP) data. The US dollar has been on a decline amid an improving risk appetite. Since Wednesday, the greenback has dropped from 91.43 to the current 90.86. The decline was also triggered by the lower-than-expected US ADP employment report. According to the report, the change … Read more