Gold firms above $3,350 as the US Dollar remains under pressure on Monday. The soft July NFP report has heightened market bets on a potential interest rate cut in September. Fears of political interference grow after US President Donald Trump fires BLS Commissioner Erika McEntarfer. Gold (XAU/USD) kicks off the week on a cautious note, […]
The White House NEC Director Hasset is speaking on CNBC saying: The employment data has been very unreliable The data needs to be modernized Need a fresh set of eyes at the BLS. It would be incumbent on the BLS to explain the revisions. To make sure the data is transparent we are going to
This week’s trading opportunity Chris Beauchamp: Hello and welcome to “Trade the week” for the week beginning Monday 4th August. Let’s look firstly at this week’s “Trade of the week”. We’re going to go long the S&P 500. Yes, it might seem foolhardy after those job numbers. It might seem like we’re just continuing to ignore the bad
The Japanese yen is steady on Monday. In the European session, USD/JPY is trading at 147.72, up 0.09% on the day. On Friday, the yen soared 2.2%, its best one-day showing since April. US nonfarm payrolls misses forecast The week ended with a softer-than-expected US employment report. Nonfarm payrolls for July rose by only 73
Equities stage comeback as investors buy the dip Friday’s shock US jobs report has provided the catalyst for a market rebound, with equity futures pointing higher across the board. The disappointing payrolls data has shifted the narrative from concerns about a resilient US economy to relief that monetary policy may turn more accommodative. US equity
The USD/JPY forecast indicates a slight recovery in the dollar. The economy added only 73,000 jobs in July. The BoJ has been more confident in talks of resuming rate hikes. The USD/JPY forecast indicates a slight recovery in the dollar after a steep decline in the previous session due to downbeat employment numbers. Meanwhile, the
Prior 49.6 The reading continues to keep below the pivotal 50.0 mark since January 2023. And the latest setback here comes as new orders fell notably during the month. As for production output (49.6), it was more or less steady and keeps marginally below growth territory for now. This article was written by Justin Low
Romania’s producer prices decreased for the first time in five months in June, data from the National Institute of Statistics showed on Monday. The producer price index dropped 0.3 percent yearly in June, reversing a 0.9 percent rise in May. Prices in the domestic market decreased 1.5 percent annually in June, while those in the
There are a couple to take note of on the day, as highlighted in bold below. They are for EUR/USD layered in between the 1.1550 to 1.1600 levels. The dollar was dealt a blow after the US jobs report last week, with massive downward revisions to payrolls and Trump’s firing of the BLS chief giving
Disappointing jobs data and new tariffs shake US markets United States (US) stock markets fell on Friday night as investors reacted to a weak July jobs report and a fresh round of tariffs announced by President Trump. For the week, the US 500 (S&P 500) fell 2.36%, its largest weekly decline since late March. The US Tech
Japan’s chief trade negotiator, Ryosei Akazawa, said the recently announced trade agreement between the United States and Japan is not a legally binding commitment, casting doubt on the scope and enforceability of the deal. In remarks that could cool optimism around the agreement, Akazawa urged caution, stating that not all comments from U.S. officials about
Fresh concerns are emerging that the Trump administration’s dismissal of Bureau of Labor Statistics (BLS) Commissioner Erika McEntarfer may be part of a broader strategy to undermine the credibility of official inflation data, with potential implications for markets and Federal Reserve policy debates. While early commentary, including a pointed note from J.P. Morgan, highlighted risks
The monetary base in Japan was down 3.9 percent on year in July, the Bank of Japan said on Monday – coming in at 643.896 trillion yen. That follows the downwardly revised 3.5 percent annual decline in June (originally -3.3 percent). Banknotes in circulation were down 2.4 percent on year, while coins in circulation fell
The Financial Times is gated, so its always interesting getting a glimpse behind the curtian. Mohamed El-Erian, chief economic adviser at Allianz tweeted on his concerns over wage disparities in the US: The wage growth lines are pointing down for all but the top quartile. If there is a silver lining from this it’ll be
Japan will on Monday release July figures for monetary base, highlighting a very light day for Asia-Pacific economic activity. In June, the base was down 3.3 percent on year. Australia will see July results for the inflation gauge from the Melbourne Institute; in Jun, inflation was seen higher by 0.1 percent on month. For comments
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US President Donald Trump fired the head of the Bureau of Labor Statistics on Friday after getting jobs numbers he didn’t like. It’s an extremely concerning move for anyone hoping to trade based on reliable economic data. it’s also reminiscent of Argentina and various other despotic regimes and it’s never ended well. At some point,
