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03

US dollar index ends week lower, retreating modestly from 13-year highs Matías Salord

The US dollar index ended the week with modest losses (-0.70%) and remains above the key short-term support located around the 100.60 zone. It is the first decline since the US presidential elections and represents a retreat after reaching back on November 24, the strongest level in 13 years at 102.05. The DXY finished with modest losses on Friday, after...

23:46 02 December /2016 Forex

EUR/USD rises for the second week, eyes Italian referendum, ECB Matías Salord

EUR/USD reached the strongest levels in two weeks on Friday, after the US employment report, and boosted by a correction of the greenback in the currency market. The pair moved with an upside bias during all week, in a recovery mode, after hitting a fresh 2016 low at 1.0515 last week. After NFP, Italy’s referendum, then ECB US economic data duri...

23:23 02 December /2016 Forex

US: Jobs numbers supports consumer and FOMC December move - Wells Fargo Matías Salord

According to analysts from Wells Fargo, the increase by 178K in November’s NFP and the 3-month moving average at 176K, provides a solid support for a December rate hike from the Federal Reserve. Key Quotes: “Nonfarm payrolls rose 178,000 in November. Job growth has averaged 176,000...

22:23 02 December /2016 Forex

USD/CAD: best week for the CAD since August Matías Salord

USD/CAD dropped today for the second day in a row. The pair bottomed after economic data at 1.3245, the lowest level since October 21. Then it bounced to the upside and it was about to end the week hovering slightly below 1.3300. US and Canadian employment report In the US, Non-farm Payrolls i...

22:00 02 December /2016 Forex

NZD/USD approaches weekly highs after NFP

A weak US dollar pushed NZD/USD above 0.7100. The pair moved toward weekly highs following the release of the US employment report. Non-farm Payrolls increased by 178K during November, slightly above expectations. The unemployment rate dropped to 4.6%, the lowest since 2007, from October’s 4.9%. On the negative...

19:46 02 December /2016 Forex

November NFP: A quite mixed report - Danske Bank

According to analysts from Danske Bank, despite the mixed November US jobs report, the Federal Reserve rate hike seems very likely. They see two rates hikes in 2017 and in 2018. Key Qu...

19:46 02 December /2016 Forex

NFP: Wage data won’t stop a December rate hike - ING Matías Salord

James Smith, Economist at ING, points out that the weak pay growth that showed the November jobs report, might raise a few eyebrows at the Federal Reserve, “but assuming this is just a blip, we still expect two 2017 FOMC hikes.”Key Quotes: “The scale of the disappointment was large...

19:23 02 December /2016 Forex

DXY inter-markets: dips remain shallow Pablo Piovano

The US Dollar Index is now accelerating the downside after market participants continue to digest the mixed results from the US labour market during November, where the economy created around 180K jobs, the jobless rate ticked lower but expectations of higher inflation wages were slashed after Average Hourly Earnings unexpectedly contrac...

19:00 02 December /2016 Forex

EUR/USD gains appear capped around 1.0675/1.0725 – Scotiabank Pablo Piovano

Shaun Osborne, FX Chief Strategist at Scotiabank, expects the pair to resume its downside in the near term, keeping the bearish outlook unchanged.Key QuotesEURUSD gains have stalled on the short-term charts, with expected resistance in the upper 1.06/low1.07s capping gains”.“The short-term tone remains consolidative, with the ma...

18:46 02 December /2016 Forex

NFP: Mixed report, unlikely to deter Fed rate hike expectations - BBH Matías Salord

According to analysts from Brown Brother Harriman, the details of the US jobs report were mixed but unlikely to change views on the outlook for the Federal Reserve policy. Key Quotes: “The US dollar has slipped lower in response to the jobs data, but quickly recovered.  The details...

18:46 02 December /2016 Forex

USD/RUB accelerates the downside below-64.00, session lows

The Russian currency is now intensifying its upside momentum vs. the buck, sending USD/RUB to the area of daily lows in sub-64.00 levels.USD/RUB weaker on US data, oilThe bearish fashion around the greenback continues to weigh on the pair today, which is so far printing its third consecutive session with losses and deflating from...

18:23 02 December /2016 Forex

US stocks cautious after jobs report and ahead of Italian referendum

On the last trading day of the week, major US equity indices opened flat, with both the S&P 500 and Nasdaq Composite index on track for weekly declines. During opening hour of trading, the Dow Jones Industrial Average was down nearly 30-point to 19,160, while the broader S&P 500 index was absolutely flat near yesterday's closing level around 2,192. Meanwhile, tech-heavy Na...

18:00 02 December /2016 Forex

US Dollar fades the uptick, challenges the 101.00 handle

The US Dollar Index – which gauges the greenback vs. its main rivals – has now returned to the 101.00 neighbourhood, coming down from a failed attempt to advance further north of 101.20.US Dollar offered after PayrollsThe index has rapidly retraced the bullish attempt to the vicinity of 101.20 following the monthly repor...

17:46 02 December /2016 Forex

Gold struggling for direction, flat-lined around $1172 Haresh Menghani

Gold was seen struggling for a direction and remained confined within a narrow trading range, with mild positive bias. Currently hovering around $1173 region, all set to post fourth consecutive week of declines, the precious metal seesawed between tepid gains and minor losses on the back of mixed 17:46 02 December /2016 Forex

USD/CHF inching closer to weekly low after NFP

The USD/CHF pair's attempted recovery got sold into and the pair is now heading towards the lower end of weekly trading range. Currently trading marginally below 1.0100 handle, the pair ran through fresh offers and drifted into negative territory after headline NFP print failed to impress US Dollar bulls and came-in to show an addition of 178K ne...

17:23 02 December /2016 Forex

EUR/USD back to square one, in the mid-1.0600s

The initial spike to the 1.0660/70 post-Payrolls has quickly fizzled out, leaving EUR/USD trading in the 1.0650 area as markets continue to digest the US docket.EUR/USD upside capped at 1.0690/1.0700Spot keeps meandering the daily range following mixed results from the US labour market during November, with market participants st...

17:23 02 December /2016 Forex

US Non-farm Payrolls at 178K in November Pablo Piovano

US Bureau of Labor Statistics has informed that Non-farm Payrolls showed the US economy added 178K jobs during last month, slightly above the 175K forecasted and up from October’s142K (revised from 161K).The report also showed the unemployment rate dropped to 4.6% while Average Hourly Earnings unexpectedly contracted 0.1% on a monthly basis.

17:23 02 December /2016 Forex

GBP/USD back and forth from highs post-NFP Pablo Piovano

The demand for the Sterling remains well and sound at the end of the week, now pushing GBP/USD to challenge daily tops in the mid-1.2600s.GBP/USD bid after US dataThe pair is gaining extra traction after US Payrolls have bettered expectations for the month of November, coming in at 178K vs. 175K from prior surveys. Adding more co...

17:00 02 December /2016 Forex

USD/CAD sinks to 1.3250 on NFP

The Canadian dollar picked up further pace vs. the buck today, sending USD/CAD to the area of fresh lows in the mid-1.3200s.USD/CAD in 2-month lows post-US, CAD dataThe pair met a wave of selling pressure after US Non-farm Payrolls showed the US economy has added 178K jobs during November, a tad above the 175K initially estimated...

16:46 02 December /2016 Forex

USD/JPY weaker below 114.00 handle after US NFP Haresh Menghani

The USD/JPY pair came under fresh selling pressure and dropped closer to session low following the release of US NFP data. The pair, however, has managed to recover bounce off lows and is currently trading around 113.80 region. The pair lost its recovery momentum after the US Labor Department reported that economy added 178K new jobs in November. The reading was slightly better-than 175K expected ...

16:46 02 December /2016 Forex