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Stay up-to-date with the latest market developments. Discover breaking news, in-depth analysis, expert commentary, and market insights that affects all asset classes, from forex and commodities to stocks and indices. MarketPulse news will help you stay ahead so you can make informed trading decisions.

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USD/JPY Technical: At risk of a minor bounce before bearish tone resumes
Medium-term uptrend of USD/JPY in place since 16 January 2023 at risk of breakdown. Steep decline from last Thursday, 6 July 2023 has reached oversold condition. Minor bounce cannot be ruled out at this juncture above 140.60 support. Watch the 142.50/142.80 intermediate resistance zone. This is a follow-up on our prior analysis “USD/JPY surged to a 7-month high, but fundamentals diverge” published on 23 June 2023. We have highlighted the risks of the overextended rally exhibited in the USD/JPY
10-07-2023 22:02 GMT by Kelvin Wong
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Oil weakens on weaker global growth outlook, Gold and Bitcoin unfazed
Commodities get little support from a weaker dollar Demand destruction likely to force Saudis to extend cuts Bitcoin holds onto the $30,000 level Oil Crude prices are weakening as concerns mount that the global growth outlook is getting uglier by the day.  China is rushing to deliver more support to their real estate crisis, while the US starts to grow more nervous about a potential recession. Oil will struggle this week if inflation readings in the US support the hawkish case for a couple mor
10-07-2023 13:42 GMT by Edward Moya
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Markets calm ahead of US CPI, China inflation flatlines amid weaker demand
It's been a relatively slow start to the week but there's still plenty to look forward to, most notably the US inflation data on Wednesday. Friday's jobs report did nothing to level the debate on whether to pause at the next Fed meeting in two weeks. In fact, it may have even cemented another 25 basis point hike despite the NFP number falling short of expectations and, to the relief of many, well short of the ADP release. Wage growth remains a concern and on that front, the report was hot.
10-07-2023 12:18 GMT by Craig Erlam
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Oil breaks higher, gold choppy after nonfarm payrolls
Oil finally breaks higher and with decent momentum Another strong showing on Friday saw oil prices finally make a significant move higher, with Brent breaking above $77 and ending the series of lower highs in price. There still remain obstacles above but this could be a very significant breakout in the price after such a long period of consolidation. What's more there doesn't appear to be any shortage of momentum behind the move; in fact, it has seemingly increased which could be another bullish
10-07-2023 12:15 GMT by Craig Erlam
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GBP/USD eyes UK employment report
UK jobs report expected to show strong employment and wage growth US nonfarm payrolls declined in June The British pound has drifted lower on Monday. GBP/USD is trading at 1.2827 in the European session, down 0.09%. UK employment data expected to remain strong The UK labour market remains resilient despite a cooling economy and high interest rates.
10-07-2023 11:48 GMT by Kenneth Fisher
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Wall Street awaits Wednesday's CPI data and the start of earnings season
Wednesday's inflation report expected to show CPI m/m: 0.3%e  v 0.1% prior; y/y: 3.1%e v 4.0% prior; Core CPI m/m: 0.3%e v 0.4% prior; Core CPI y/y: :5.0%e v 5.3% prior Fed's Barr on banks: These changes would increase capital requirements overall Fed Mester noted that the funds rate will need to move up somewhat further from its current level and then hold there for a while US stocks are wavering ahead of both a key inflation report that should core CPI remain sticky and what should be a rough
10-07-2023 11:07 GMT by Edward Moya
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USD/CAD slips as NFP falls, Canada adds jobs
US nonfarm payrolls decline Canada adds 60,000 jobs Bank of Canada expected to raise rates on Wednesday The Canadian dollar is trading quietly at the start of the week. In the North American session, USD/CAD is trading at 1.3286, up 0.07%.
10-07-2023 09:48 GMT by Kenneth Fisher
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China equities bulls are still on the waiting list
Deflationary spiral risk has negated confidence in China equities. US dollar has continued to hold steady against the yuan despite a broad-based sell-off against other major currencies ex-post US non-farm payrolls. The key intermediate support to watch on the USD/CNH will be at 7.2160. Weak China inflation data offset positive China Big Tech news flow The dreaded fear of a deflationary spiral in China has reached “code red” where the latest consumer inflation rate for June has flattened to 0% y
10-07-2023 02:34 GMT by Kelvin Wong
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Nasdaq 100 Technical: Potential minor bearish Double Top
The bulls of the Nasdaq 100 have staged another retreat at the key 15,270 resistance. Medium-term upside momentum has started to wane as indicated by the daily RSI. Minor bearish “Double Top” sighted with its neckline support at 14,700. This is a follow-up on our prior analysis “Nasdaq 100 Technical: “Risk of a medium-term blow-off top” published on 27 June 2023. So far, its price actions have failed to have a daily close above the 15,270 key medium-term pivotal resistance after an intraday bre
09-07-2023 22:55 GMT by Kelvin Wong
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Oil prices climb, gold eyes nonfarm payrolls
Oil continues higher despite setbacks this week Could we finally be about to see a breakout in oil prices after two months of consolidation? The rally over the last week or so from the range lows has been quite strong and backed by momentum - as well as fresh cuts from Saudi Arabia and Russia - and despite being pushed back from the recent highs over the last couple of days, it's continued to drive higher in a way that could see the upper boundary buckle. Yesterday's ADP number appeared to wipe
07-07-2023 07:34 GMT by Craig Erlam
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Investors risk averse ahead of the US jobs report after worrying ADP Number
It's been a shocking week for European equity markets, on course to shed almost 5% and it could get worse if the US jobs report reflects what we saw yesterday from ADP. You wouldn't always guess it when looking at the performance of stocks but there is mounting anxiety about the resilience of the economy and what that will mean for interest rates going into the end of this year and 2024. Investors always seem to find a way to look on the bright side which may explain the disconnect between econo
07-07-2023 07:28 GMT by Craig Erlam
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Euro steady ahead of nonfarm payrolls, Lagarde speech
EUR/USD is unchanged in the European session, trading at 1.0893. Nonfarm payrolls expected to decline All eyes are on Friday's nonfarm payrolls, which is expected to decline for June. However, this week's employment numbers have been mixed, and it will be interesting to see which direction the nonfarm payrolls release takes. The ADP employment report, which precedes the nonfarm payrolls release by a day or two, tends to get glossed over, as it is not considered a reliable precursor to nonfarm
07-07-2023 06:42 GMT by Kenneth Fisher
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Canadian dollar on a roll ahead of US, Canada job reports
US nonfarm payrolls expected to drop, but massive ADP jobs report is making investors nervous Canada's labour market is expected to rebound with a 20,000 gain The Canadian dollar is drifting in the European session, trading at 1.3378. It has been a good week for the Canadian currency, which is up about 1% against its US cousin. We can expect some significant movement from USD/CAD in the North American session, as both Canada and the US release the June employment reports. Will nonfarm payroll
07-07-2023 04:27 GMT by Kenneth Fisher
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No summer lull for global equities
Bullish breakout seen in US Treasury 10-year yield above 3.90%, next resistance at 4.46%. Long-duration assets (fixed income & growth stocks) sold off and underperformed in the past two days. Record low level of implied correlation among S&P 500 stocks may lead to a spike in VIX. Asian stocks underperformed reinforced by a weak yuan despite subtle interventions by PBoC. Déjà vu, it’s all about government bond yields again In the past two days, we have seen several significant movements in the g
07-07-2023 02:30 GMT by Kelvin Wong
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