OANDA Senior Market Analyst Craig Erlam discusses the moves in the dollar in the immediate aftermath of the stellar US jobs report.
01-09-2023 16:35 GMT
by Craig Erlam
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NFP 187,000 in August (169,000 expected, 157,000 previously)
Average hourly earnings 0.2% (MoM), 4.3% (YoY)
EURUSD slips after making earlier gains
If you're a Federal Reserve official, you'll find it hard not to be very pleased with the way this week's gone from a labor market data perspective.
The JOLTS release at the start of the week was extremely encouraging as it continued a clear trend that brought the number of vacancies back to levels not seen in two years and not far from the pre-pan
01-09-2023 11:05 GMT
by Craig Erlam
The month started with a bang with the US jobs report but the following week is looking a little more subdued, starting with the bank holiday on Monday. Economic data is largely made up of revisions and tier-three releases.
01-09-2023 08:02 GMT
by Craig Erlam
The euro is flat on Friday, after sustaining sharp losses a day earlier. In the European session, EUR/USD is trading at 1.0844.
Eurozone, German manufacturing struggling
There wasn't much to cheer about after today's Manufacturing PMI reports for Germany and the eurozone.
01-09-2023 07:52 GMT
by Kenneth Fisher
Canada's GDP expected to ease in Q2
US nonfarm employment payrolls expected to dip to 177,000
The Canadian dollar is calm in the European session, trading at 1.3500, down 0.07%. I expect to see stronger movement from USD/CAD in the North American session, as Canada releases second-quarter GDP and the US publishes the July employment report.
Canada's GDP expected to slow in Q2
Canada usually releases employment reports on the same day as the US, but Canada's July jobs report won't be released
01-09-2023 05:46 GMT
by Kenneth Fisher
OANDA Senior Market Analyst Craig Erlam discusses the impact of the eurozone and US inflation data on EURUSD ahead of tomorrow's jobs report.
31-08-2023 12:35 GMT
by Craig Erlam
Strong run continues
Chinese data doesn't hinder the rally
Momentum may be key as price approaches August highs
Oil prices are nudging higher again today, technically on course for a fifth day of gains in six in Brent - six in a row in WTI - although broadly speaking they're just a little above the middle of what appears to be a newly established range.
Brent peaked near $88 a few weeks ago and bottomed around $82 last week as we await more direction on the economy and therefore demand. Data th
31-08-2023 12:29 GMT
by Craig Erlam
Swiss retail sales decline by 2.3%
Swiss inflation expected to dip to 1.5%
US unemployment claims drop to 228,000
US PCE Price Index rises by 3.3%
The Swiss franc has lost ground on Thursday. In the North American session, USD/CHF is trading at 0.8835, up 0.59%.
Thursday's Swiss retail sales for July looked awful, falling 2.3% m/m.
31-08-2023 10:16 GMT
by Kenneth Fisher
Flash HICP in August 5.3% (5.1% expected, 5.3% in July)
Flash core HICP in August 5.3% (5.3% expected, 5.5% in July)
Key moving average provides resistance once again
Eurozone economic indicators this morning have been something of a mixed bag, although traders seem enthused on the back of them rather than disappointed.
We've seen regional data over the last couple of days which gave us some indication of how today's HICP report would look and a drop in the core reading in line with expectation
31-08-2023 08:34 GMT
by Craig Erlam
The euro is lower on Thursday, after a 3-day rally which pushed the currency 1% higher. In the European session, EUR/USD is trading at 1.0861, down 0.57%.
Eurozone CPI steady, core CPI falls
Eurozone inflation was a mixed bag in August.
31-08-2023 07:54 GMT
by Kenneth Fisher
Bullish acceleration within long-term secular uptrend to print a fresh all-time high of 166.60 yesterday, 30 August.
Current minor pull-back of 102 pips from 166.60 all-time high has almost reached a short-term oversold condition as indicated by the hourly RSI.
Key short-term support rests at 165.10.
The cross-pair CHF/JPY has continued its impulsive up-move sequence in the month of August where it rallied by +291 pips as of 31 August 2023 at this time of the writing, capping off a relentless b
31-08-2023 04:56 GMT
by Kelvin Wong
New Zealand business confidence rises
ADP Employment Change falls to 177,000
The New Zealand dollar is almost flat on Thursday, trading at 0.5958 in Europe.
New Zealand Business Confidence improves again
New Zealand's ANZ Business Confidence index accelerated for a fourth straight month in August. The index improved to -3.7, up from -13.1 in July.
31-08-2023 03:59 GMT
by Kenneth Fisher
OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the latest data from the US including JOLTS job openings, ADP employment and GDP, and its impact on the markets.
30-08-2023 13:48 GMT
by Craig Erlam
ADP posts 177,000 new jobs but traders not convinced
US Q2 GDP revised lower to 2.1% (2.4% previously)
USD pares six week gains after weaker figures this week
The recovery in equity markets appears to have stalled on Wednesday as traders likely eye the big economic releases later in the week.
The ADP and revised GDP numbers may attract some attention but they were never likely to have too great an impact. The ADP report has long been ignored as a reliable precursor to the NFP report on Friday a
30-08-2023 13:39 GMT
by Craig Erlam
US GDP expanded by 2.1%
ADP Employment slides to 177,000
New Zealand business confidence expected to improve
The New Zealand dollar posted slight gains on Wednesday but then retreated, after sizzling on Tuesday with gains of 1%. In the North American session, NZD/USD is flat at 0.5970.
30-08-2023 13:07 GMT
by Kenneth Fisher
Gold buoyed by JOLTS data
US 2-year yield slipped below 5%
Could $1,950 be a major level of resistance?
30-08-2023 08:16 GMT
by Craig Erlam
Australian inflation falls to 4.9%
US GDP expected to rise to 2.4%
The Australian dollar has edged lower on Wednesday after sharp gains a day earlier. In the European session, AUD/USD is trading at 0.6473, down 0.10% on the day.
Australia's inflation slips to 4.9%
There was good news on the inflation front as July CPI fell to 4.9% y/y, down from 5.4% in June and below the consensus estimate of 5.2%.
30-08-2023 07:52 GMT
by Kenneth Fisher
Germany to release CPI on Wednesday, Eurozone on Thursday
US consumer confidence and jobs data disappoint
The euro's mini-rally has run out of steam. EUR/USD climbed 0.80% over the past two days but is trading in negative territory on Wednesday.
30-08-2023 05:47 GMT
by Kenneth Fisher
Oil prices stabilize after establishing a new range
Hurricane season may have a greater influence amid tight market
Head and shoulder neckline remains intact
Oil prices appear to be stabilizing around the middle of their new higher range, in the aftermath of OPEC+ cuts (voluntary Russia and Saudi in particular).
Brent crude currently sits a little shy of $85 after rebounding higher off $82 last week and peaking just above $88 earlier this month.
There remains considerable uncertainty around th
29-08-2023 12:53 GMT
by Craig Erlam
JOLTS job openings slip to 8.827m (9.465m expected, 9.165m previously)
Consumer confidence also falls but the survey is volatile
Is last week's breakout stalling?
29-08-2023 12:38 GMT
by Craig Erlam