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GBP/USD – Pound Drops as UK Services PMI Disappoints

The British pound has posted considerable losses in the Monday session. In North American trade, GBP/USD is trading at 1.4009, down 0.79% on the day. On the release front, the focus was on the services sectors. British Services PMI slowed to 53.0, missing the estimate of 53.0 points. Later in the day, the UK releases British […]

US Futures Add to Friday’s Losses

Wall Street Poised For Sharp Losses Again on Monday US futures are trading back in the red again on Monday, adding to substantial declines seen on Friday when higher interest rate and inflation expectations weighed heavily on stocks. We’ve seen a sharp increase in US bond yields over the last week after the Federal Reserve […]

EUR/USD – Euro Yawns as German, Eurozone Services PMIs Improve

The euro is trading sideways on Monday, after an uneventful week. Currently, the pair is trading at 1.2463, up 0.06% on the day. On the release front, Eurozone and German Services PMIs improved in January. Both readings beat their estimates. Eurozone retail sales declined 1.1%, matching the forecast. Later in the day, ECB President Mario […]

Equities Slump Deepens; Dollar Steady

Monday February 5: Five things the markets are talking about Global stocks have extended their biggest decline in two-years overnight while the ‘big’ dollar steadies outright against G10 currency pairs. Sovereign treasury yields continue to creep higher, while crude oil prices again come under pressure as U.S explorers raised the number of rigs drilling for […]

Dollar Rebounds After Strong Jobs Report

US added 200,000 positions in January The US dollar rose against major pairs on Friday. The release of the U.S. non farm payrolls (NFP) proved to be the much needed shot in the arm after the greenback was under pressure for most of 2018. The job gains were above expectations but more importantly the hourly […]

By the numbers: U.S January NFP fallout

Non-farm payrolls: +200k vs. +148k prev. Private payrolls: +196k vs. prev. +146k) Manufacturing payrolls: +15k vs. prev. +25k Unemployment rate: +4.1% vs. prev. +4.1% Average hourly earnings: +0.34% m/m, +2.9% y/y vs. prev. +0.4% m/m, +2.7% y/y Workweek hours: 34.3 vs. prev. 34.5 – -0.2 U.S 10-year yield: +2.83% U.S employers added +200,000 jobs in […]

What to look for in U.S payrolls (NFP)

Friday February 2: Five things the markets are talking about The U.S labor department is expected to report that 2018 has kicked off with a pickup in hiring. Market consensus is looking for non-farm payrolls (NFP) to rise by +180k last month, while the unemployment rate continued to hover atop of +4.1% – its lowest […]

USD Struggles Ahead of Jobs Report

USD Struggles Ahead of Jobs Report US expected to add 184,000 jobs in January The US dollar fell against a basket of currencies on Thursday. The greenback has failed to gain traction in 2018 and is awaiting the first US jobs report of the year looking for a shot in the arm. The U.S. non […]

Gold Ticks Lower, Investors Eye Nonfarm Payrolls

Gold has posted small losses in the Thursday session. In North American trade, the spot price for an ounce of gold is $1343.22, down 0.14% on the day. On the release front, employment data was positive, as unemployment claims dropped to 230 thousand, below the forecast of 237 thousand. ISM Manufacturing PMI slowed to 59.1, but […]

UK Minister Says All Brexit Forecasts Have Been Wrong

Brexit minister David Davis rekindled a debate about the credibility of the government’s own forecasts by saying on Thursday that every economic prediction on the British economy since the EU referendum has been wrong. Davis made the comments in parliament after being asked about leaked analysis, drawn up by government officials, which suggests Britain would […]