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Tag Archives: market pulse

GBP/USD – Pound Edges Lower on Election Day

The British pound is trading quietly in the Thursday session. In North American trade, GBP/USD is trading at 1.2930. It’s Election Day in the United Kingdom, and there are no British economic events. In the US, unemployment claims dipped to 245 thousand, but was higher than the estimate of 241 thousand. On Friday, the UK releases Manufacturing Production, which is expected to rebound and post a gain of...

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Gold Remain High After Soft NFP, Terror Attack in London

Gold prices has paused on Monday, after gains of 1 percent on Friday. In the North American session, spot gold is trading at $1280.32 per ounce. On the release front, today’s key indicator was ISM Non-Manufacturing PMI. The index pointed to a slowdown in the services sector, dropping to 56.9 points. This was shy of the estimate of 57.1 points. US Employment numbers for May were unexpectedly soft...

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Week Ahead Dollar Struggles After US Jobs Miss

US Jobs growth slows down to 138,000 The US dollar is lower across the board versus major currencies. The U.S. non farm payrolls (NFP) grew by 138,000 jobs in May short of the 180,000 forecasted and there were downward revisions to the two previous months. The employment trend continues to be strong as evidence by the fall in the unemployment rate to its lowest since...

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CAC Rises on Sharp US Employment Data, Nonfarm Payrolls Next

The French stock market has posted slight gains in the Friday session, and the CAC index has risen 0.86 percent. Currently, the CAC is trading at 5,364.50, close to the high for the month of May. On the economic front, there are no eurozone or French events on the schedule. In the US, employment reports are in the spotlight, with three key indicators – Nonfarm Payrolls, wage growth and the unemployment...

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APAC Commodities: Oil Refuses To Boil As Gold Melts Away

Overnight data fails to spark oil as Gold is starting to possibly look overextended in the short term. Gold Gold’s listless trading continued overnight with a more bearish tone in early Asia trading to start the day following its overnight failure to close above 1270 for the third day in a row. Holiday markets aside, the extended short term long positioning and a lack of upside momentum may be signalling that a correction lower may be on...

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Why all the Risk?

Why all the Risk? European risk steadied overnight after yesterday’s  very wobbly Asia session when   Greek government spokesman Tzanakopoulos denied the  German newspaper Bild report that Greece could forego next bailout payment. But for those of us that worked through the Greek debt saga,  this has an all too familiar ring suggesting there’s likely more drama to unfold. The Merkle -Trump War of Words is catching dealers attention after President Trump called out Germany’s...

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CAC Ticks Higher on Mixed French Numbers

The French stock market continues to have a quiet week. In the Tuesday session, the CAC is trading at 5,327.50 points. On the release front, there are no eurozone events. French indicators were mixed. Preliminary Consumer Spending rebounded in April with a gain of 0.5%, following two declines. This was short of the estimate of 0.8 percent. Preliminary GDP remained unchanged at 0.4 percent in the first quarter, edging above...

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Gold Drifting as US Markets Observe Memorial Day

After posting strong gains on Friday, gold is unchanged in the Monday session. In North American trade, spot gold is trading at $1266.79 an ounce. There are no US events on the schedule, as markets are closed for Memorial Day. On Tuesday, the key event is CB Consumer Spending. The US economy slowed down in the first quarter, but there revised estimate for growth came in at 1.2%. This was considerably higher than the 0.7% gain which was...

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USD/JPY – Yen Flat Ahead of Japanese Consumer Spending Reports

USD/JPY is showing little movement in the Monday session, and with US markets closed for Memorial Day, that trend is likely to continue during the day. There are no US releases on the schedule. Japan will publish two consumer spending reports – household spending and retail sales. On Tuesday, the US releases CB Consumer Spending. Japan’s economy has looked solid early in 2017, as GDP ...

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