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Silver Reclaims $60, RSI Targets $65 on Dollar Weakness
Silver price extends weekly gains over 5.5%, reclaiming $60 for the second straight day and reaching an eight-day high of $62.42 amid broad US Dollar weakness.
Gold price rises on weak US jobs report
Gold (XAU/USD) climbed over 1% on Friday after a softer-than-expected US non-farm payrolls report tempered expectations of further Fed tightening, despite elevated inflation. The metal was trading near $4,174 at the time of writing.
ABN AMRO Sees Reduced Upside for EUR/USD on Policy Divergence
ABN AMRO economist Bill Diviney expects the US dollar to weaken broadly but notes slightly less upside for EUR/USD after revising the ECB outlook and incorporating French and US elections.
Swiss Franc Set for First Weekly Gain in Five Weeks as Weak US NFP Data Delays Fed Hikes
The Swiss Franc is on track for its first weekly advance in five weeks against the US Dollar, after weaker-than-expected US Nonfarm Payrolls data released Thursday weighed on the greenback and pushed back expectations for Federal Reserve rate hikes.
USD/SGD Near-Term Support Test at 1.2890 – UOB
UOB's Quek Ser Leang says USD/SGD's sharp drop toward 1.2900 appears overdone but the pair could still test support near 1.2890 in the near term, maintaining a range bias.
EUR/USD Holds Gains but Struggles to Extend as Dollar Stabilizes
EUR/USD holds onto modest gains on Friday but struggles to extend its advance as the US Dollar stabilizes following Thursday's weaker-than-expected US jobs report. Market activity remains subdued due to the US Independence Day holiday.
British Pound Holds Weekly Gains as Fed Hike Doubts Intensify
The British Pound steadied against the US Dollar on Friday and is on track to end the week with gains of over 1%, as traders grow skeptical of a September rate hike by the Federal Reserve. GBP/USD consolidates near the 1.3350 level.
AUD/USD Rises to 0.6940 on Upbeat Australian PMIs, Soft US Labor Data
The Australian Dollar climbed against the US Dollar on Friday, nearing 0.6940, supported by better-than-expected Australian PMI data and a weaker USD following softer US labor market reports.
New Zealand Dollar Gains on Weak US Employment Data
NZD/USD rose to 0.5710 on Friday, gaining 0.21% as weaker-than-expected US labor data pressured the US dollar and lifted risk appetite.
Gold Weekly Forecast: Buyers Return as Fed Rate Hike Expectations Ease
Gold (XAU/USD) posted its first weekly gain in five as traders dial back expectations for near-term Fed rate hikes. The economic calendar is light next week.
EUR/USD Trims Losses as US Dollar Rally Stalls Near 1.1450
The EUR/USD pair recovered some ground to trade around 1.1450 as easing Middle East tensions reduced safe-haven demand for the US dollar. However, the sustainability of the dollar's pullback remains uncertain.
ABN Amro Warns of Intervention Risk as USD/JPY Nears Multi-Decade High
ABN Amro's Georgette Boele warns that USD/JPY trading near multi-decade highs raises intervention risk for the Japanese yen, noting extreme short yen positioning leaves room for a sharp reversal.
USD/JPY Rebounds as Yen Weakens Despite Intervention Fears
The US dollar strengthened against the Japanese yen on Friday, recovering from a sharp decline the previous day amid speculation that Tokyo may have intervened to support the yen after it hit a 40-year low.
USD/JPY Near 40-Year High Raises Intervention Risk
The dollar-yen pair has climbed back toward multi-decade highs, stoking fears that Japanese authorities may step in to slow yen weakness.
Wells Fargo: Japan Wage Data Supports BOJ Rate Hike Path
Wells Fargo Economics says Japan’s May labor cash earnings confirm a sustained wage-price cycle, reinforcing the case for further BOJ monetary tightening.
BoE DMP Survey: One‑Year Inflation Expectations Ease in June
The June UK Decision Maker Panel survey indicates a moderation in one‑year inflation expectations, while three‑year expectations remain near prior levels, according to TD Securities.
ING Warns of Elevated Yen Intervention Risk on US Holiday Liquidity
ING strategist Francesco Pesole flags heightened risk of Japanese FX intervention amid thin US holiday liquidity, noting that an initial drop in USD/JPY may have already involved official action.
Euro Edges Higher After Weak NFP Data Softens US Dollar
The euro gained against the US dollar following a disappointing June NFP report, which showed only 57,000 jobs added, missing market expectations.
MUFG: Energy Risks Keep ECB Hawkish, Support EUR/USD
MUFG's Derek Halpenny notes that elevated LNG prices versus pre-conflict levels keep Eurozone inflation risks, supporting a hawkish ECB bias and potential EUR/USD gains from USD weakness.
SA Rand Rises on Sukuk Bond Issuance Plans
South Africa's National Treasury plans to issue existing rand-denominated sukuk bonds in the current fiscal year, boosting the rand. Societe Generale strategists note the positive impact.
Gold Extends Gains as Weak US NFP Data Dents Fed Rate Hike Expectations
Gold (XAU/USD) extended gains on Friday after weaker-than-expected US Nonfarm Payrolls data weighed on the US Dollar and reduced expectations of an imminent Federal Reserve interest rate hike.
EUR/USD Struggles at 1.1475 Resistance Despite Dollar Weakness
The euro extended gains for a second session on Friday as the US dollar softened after disappointing jobs data, but EUR/USD failed to break above the key 1.1475 resistance level.
TD Securities Forecasts ISM Services Index Decline in June
TD Securities strategists expect the ISM Services index to retreat in June, signaling broad-based slowing in US activity and new orders, with employment remaining weak.
Dollar Index Heads for Negative Weekly Close on Weak Jobs Data
The US Dollar Index is set for a negative weekly close after weak Nonfarm Payrolls data for June prompted traders to dial back hawkish Federal Reserve rate expectations.