Market news
Crypto, stocks, forex and macro, aggregated for traders.
USD/JPY Plunge to 160.62 Shifts Bias Lower – UOB
UOB's Quek Ser Leang notes USD/JPY's unexpected drop to 160.62 has shifted short-term bias lower, though oversold conditions may allow a rebound within 160.80–161.90.
EUR/USD Stalls Below 1.1475 Despite US Dollar Weakness
The Euro trades higher for a second day after disappointing US jobs data, but the pair struggles to break resistance at 1.1475.
Wells Fargo: Canada Labor Stability Supports BoC Pause
Wells Fargo Economics notes Canada's labor market is soft but stabilizing, with employment growth under 1% year over year and gains concentrated in full-time positions, favoring a Bank of Canada pause.
Australian Dollar Gains as Risk-On Mood and Hawkish RBA Bets Boost AUD
The Australian Dollar (AUD) rose against major peers during European trading on Friday, with AUD/USD near 0.6940, as risk appetite and expectations of a more hawkish Reserve Bank of Australia (RBA) outweighed a slight cooling in Federal Reserve hawkishness.
US Dollar Hits Two-Week Low on Weak Jobs Data
The US dollar fell to a two-week low after June non-farm payrolls rose by only 57,000, with downward revisions for April and May adding to the disappointment.
ECB September: Hike case slightly outweighs hold, analysts say
Markets see even odds of a 25bp hike versus a hold at the September ECB meeting. Analysts argue the case for another rate increase slightly outweighs the case for unchanged policy.
Yen Rises on Soft US Jobs Data, Commerzbank Says
Commerzbank analysts attribute the yen's recent strength to weaker-than-expected US non-farm payrolls and reduced expectations for Fed rate hikes, which pressured the dollar and drove USD/JPY lower.
Japanese Yen Surges from 162.60 to 160.60 in Single Session
The Japanese Yen staged a sharp recovery against the US Dollar, moving from a 40-year low near 162.50 to the 160-61 range in a single session.
MUFG: Softer US Jobs Data May Trigger Fed Policy Shift Toward Cuts
MUFG strategist Derek Halpenny argues that weaker US labour data should prompt markets to reprice Fed expectations from rate hikes to a greater risk of cuts, citing softer nonfarm payrolls, deteriorating sentiment, and receding inflation.
US Dollar Weakens as June Employment Report Shows Cooling Beyond Expectations
The US dollar declined broadly after the June employment report indicated a greater-than-expected slowdown in the labor market.
EUR/USD Rally Likely to Stall Below 1.16, ING Says
ING strategist Francesco Pesole warns that EUR/USD rallies are likely to fade below 1.16, citing a lack of strong bullish drivers for the euro, ongoing doubts about further ECB rate hikes, and headwinds from softer inflation and low oil prices.
Silver Rises to $62.60, Up 2.72% on Friday
Silver prices (XAG/USD) rose on Friday, trading at $62.60 per troy ounce, a 2.72% increase from the previous close of $60.94.
Wells Fargo: Mexico Disinflation Keeps Banxico on Hold
Wells Fargo Economics expects Mexico’s June CPI to confirm gradual disinflation, with headline and core inflation easing but services prices still elevated, keeping Banxico on hold.
Euro Approaches 1.145 as ECB Tightening Case Weakens
The euro edged toward 1.145 against the dollar on Thursday, lagging the pound, after softer-than-expected Euro Area inflation data reduced the case for further ECB tightening.
JPY Intervention Risk High After Soft US Jobs Data
The dollar weakened after softer US jobs data, but analysts see limited room for further USD losses. Focus remains on potential Japanese yen intervention as the yen strengthens.
USD/CAD Correction to 20-Day EMA May Offer Buying Opportunity
USD/CAD edged lower near 1.4175 during European trading as the US Dollar weakened on easing hawkish Fed expectations. A further correction to the 20-day EMA could present a buying opportunity.
AUD/USD to Consolidate Between 0.6895 and 0.6945 – UOB
UOB analyst Quek Ser Leang notes that AUD/USD's sharp rise to 0.6943 was not sustained, expecting the pair to consolidate in a narrow range between 0.6895 and 0.6945 in the near term.
ISM Services PMI and Fed Minutes May Shake Fed Hike Bets
The US dollar is ending the week lower against most major currencies, with the largest losses versus the New Zealand dollar and Swiss franc. Attention turns to next week's ISM services PMI and Fed minutes, which could impact expectations for further rate hikes.
USD/JPY Vulnerable Near Two-Week Low Below 23.6% Fibonacci at 161.00
USD/JPY extends its decline for a second consecutive day, dropping to a more than two-week low during European trade. The pair remains below the 23.6% Fibonacci retracement level at 161.00, suggesting further downside risk.
Commerzbank: Softer US Jobs Data Supports Japanese Yen
Commerzbank analysts note that weaker US non-farm payrolls and reduced Fed rate hike expectations weighed on the Dollar, supporting the Japanese Yen. USD/JPY fell sharply as markets repriced rate expectations.
EUR/USD Rises to 1.1455 on Weak US NFP Data
The Euro climbed to near 1.1455 against the US Dollar on Friday, buoyed by a weaker-than-expected US jobs report that has reduced hawkish Fed expectations.
Euro Advances Against Canadian Dollar Ahead of HCOB PMI Data
EUR/CAD rises for a second day, trading near 1.6230 in European hours, as the euro strengthens ahead of German and Eurozone HCOB PMI releases.
GBP/JPY Dips to Daily Low Near 215.00 Amid Yen Intervention Fears
The British pound is flat near 215.00 against the Japanese yen, but the cross has slipped to the lower end of its daily range during early European trading as concerns about potential intervention by Japanese authorities support the yen.
Weak Data Not Always Good News: Markets Enter New Complicated Phase
Financial markets have entered a more complex phase as investors shift focus from inflation and central banks to another factor that is moving back to the center of debate.