ECB and BoE ahead of June’s meetings

A new month and more signs that European economies are recovering fast, with the manufacturing sector increasingly struggling to cope with the jump in demand and services benefiting from the lifting of restrictions. There is some concern that the latest Covid-19 variant may delay the […]

Non-Farm Payroll Preview

Recent US economic data can be used an indicator to help estimate non-farm wage reports in general. This week’s data included record highs on the ISM services index, along with the Markit services and composite PMIs, a strong increase in ADP private payrolls, and the […]

Market Update – June 4 – Dollar bounces ahead of NFP

Market News Today – USD sprang to life after strong ADP (978k vs 645k), Weekly Claims (385k vs 400k) and ISM Services PMI data (64 vs 63). USDIndex has rallied (+0.8%) to 90.57 after closing over 20-day moving average for the first time since April […]

Oil increases odds for CAD rally – Will jobs today do the same?

As explained in a recent article, the Canadian Dollar has been experiencing and is expected to continue experiencing an overall bullish movement for more than a year now. The employment reports are the hot topic of the week, since after encouraging employment in the Eurozone […]

Non-Farm Payroll – Live Analysis

Numerous labour market indicators are pointing to a solid gain for non-farm payrolls today, however there are still many distortions in the economy. The Dollar rallied yesterday following the strong round of US data, however, given the prevailing labour market anomalies, this report has limited […]

US & Canadian Jobs Day – Headlines Disappoint

USDCAD, H1 US nonfarm payrolls climbed 559,000 in May, falling a bit short of estimates, following increases of 278,000 (was 266,000) in April and 785,000 (was 770,000) in March for a net 27,000 upward revision. The unemployment rate dropped to 5.8%, as forecast, after edging […]

Events to Look Out for Next Week

Gross Domestic Product (JPY, GMT 23:50) – Gross Domestic Product should impede in Q1 and reveal headline growth of -4.8% y/y and -1.2% q/q. Tuesday – 08 June 2021 Economic Sentiment (EUR, GMT 09:00) – German June ZEW economic sentiment is seen to have declined […]

After NFP Data, Where Will Gold Go?

XAUUSD jumped around 1% on Friday, following the Non-farm Payrolls report showing a slight increase in job changes and a lower unemployment rate. The results of the NFP are considered disappointing when compared to the previous ADP Employment Change, which showed that the private sector […]

Market Update – June 7 – Dollar subdued following jobs and G7

Market News Today – The markets characterized the May US jobs report as Goldilocks –neither too hot, nor too cold. Indeed it was just right for bond and stock bulls. Treasuries rallied with a burst of short covering as the smaller than expected headline job […]

USDJPY continues to unwind

USDJPY, H1 USDJPY continues lower today, printing eight-session lows below 109.20 in early New York session trades and falling under Friday’s post-jobs report low of 109.37. The pairing had topped at 109.62 during the Asian session which is the key 61.8 Fib level of the […]