Australia reported another excellent jobs report: no less than 42K jobs were gained in May, far better than 9.7K predicted. In addition, the figure for April was revised up from 37.4K originally reported to 46.1K. Australia’s unemployment rate dropped from 5.7% to 5.5% beating expectations to remain unchanged. The drop in the jobless rate comes [...]
The post AUD/USD struggles with high resistance after gaining 42K jobs appeared first on Forex Crunch.
The Federal Reserve was widely expected to raise interest rates for the third time in the past six months. Why? It’s not the data, which doesn’t look. It’s actually what the Fed has guided us. However, the fall of inflation reported just hours before the publication, sent the dollar crashing down and cast some doubts [...]
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EUR/USD reached a new peak of 1.1286 1.1295, above the previous high of 1.1284. The next level is very close: 1.13, the high seen on election night in the US. Above 1.13, we will already be at levels seen only in September 2016 – a 9-month high. The resistance levels to watch are 1.1360 which [...]
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If we look at the big sell-off in the dollar, the answer to the question in the headline is a definite YES. Retail sales and inflation data are undoubtedly top-tier figures. However, when the data is released on Fed-day, the reaction is usually muted. Not this time. The drop in core inflation to 1.7% is [...]
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The US reports inflation and retail sales numbers on the day the Fed makes its all-important decision. Core CPI was expected to rise at 1.9% y/y, the same as in April (before revisions). Retail sales carried expectations for +0.1% after 0.4% last month. The US dollar was stable ahead of the publication, basically awaiting the [...]
The post US core CPI falls to 1.7% – USD follows appeared first on Forex Crunch.
Despite a marked slowdown in the US economy, the Fed is on course to raise rates. Will they surprise us by not hiking? That is a remote scenario. Assuming a hike, the focus will be on the next moves as reflected in the dot-plot, the statement and Yellen’s press conference. The Fed’s $4.5 trillion balance [...]
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The UK was expected to report a rise of 10K in jobless claims in May, after 19.4K in April (before revisions). The unemployment rate for April was predicted to remain unchanged at 4.6%. More importantly, wages were projected to rise by 2.4% y/y, the same as in March. Excluding bonuses, salary increases carried expectations for [...]
The post UK wages slow to only 2.1% – GBP falls appeared first on Forex Crunch.
