Weekly Economic & Financial Commentary: ‘Til the Medicine Takes
Summary United States: ‘Til the Medicine Takes The latest economic data suggest supply challenges worsened in April. Delivery times lengthened, and while employers continued to add jobs at a solid pace, the supply of labor weakened. Price pressure has remained...
NFP Headline Beats Expectations; Confirms Fed’s View that Labor Markets are Tight
US Non-Farm Payrolls showed that economy added 428,000 jobs in April, matching March’s revised print and beating average estimates of 391,000. In addition, the report showed that the Unemployment rate was unchanged at 3.6% vs expectations of a drop to...
GBPAUD’s Bounce Near 4¼-Year Low Level Struggles
GBPAUD’s recent bullish impetus from the early April 4¼-year low region has run out of steam just beneath the mid-Bollinger band at 1.7468. The longer-term 100- and 200-period simple moving averages (SMAs) are suggesting that the negative bearing has softened,...
Euro Talked Up By ECB Hawks, Dollar Shrugs NFP
Dollar turns slightly softer in early US session even though non-farm payroll report came in slightly better than expected. Yen is also weak on rising benchmark global yields. On the other hand, Euro jumps broadly as supported by hawkish comments...
Oil Price Moved into a Positive Zone Above $105
Crude oil price started a fresh increase after it formed a base above the $100 level against the US Dollar. The price broke the $105 resistance zone to move into a positive zone. The price gained pace for a move...
Dollar Back in Control ahead of NFP, Risk Aversion Back
Dollar is back in control as markets turned back into risk-off mode, just a day after the rallies triggered by Fed Chair Jerome Powell’s comments. Investors are apparently not too convinced by the ruling out of 75bps hike after a...