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Forex Today: Dollar off the Yellen-induced highs, Dogecoin soars, Nonfarm Payrolls hints eyed

Forex Today: Dollar off the Yellen-induced highs, Dogecoin soars, Nonfarm Payrolls hints eyed

Here is what you would like to understand on Wednesday, May 5: Markets stabilizing and therefore the dollar is off its highs after a risk-off Tuesday, partially triggered by comments about rate hikes by US Treasury Secretary Yellen. ADP’s jobs…

Market News
Gold Futures: Further losses unlikely

Gold Futures: Further losses unlikely

Traders trimmed their open interest positions for the primary time after two consecutive daily builds on Tuesday, this point by nearly 3K contracts as per flash data from CME Group. On the opposite hand, the quantity went up for the second session during a row,…

Market News
EUR/JPY Price Analysis : Further consolidation likely near-term

EUR/JPY Price Analysis : Further consolidation likely near-term

EUR/JPY navigates the lower end of the weekly range near 131.50. Extra rangebound looks the name of the sport within the very near-term. EUR/JPY reverses Monday’s small gains and returns to the 131.40/30 band following the unsuccessful plan to move…

Market News
USD/CAD set to plummet towards 2017 lows at 1.2062 – Credit Suisse

USD/CAD set to plummet towards 2017 lows at 1.2062 – Credit Suisse

USD/CAD is holding above rock bottom of a possible trend channel at 1.2274/66. Nonetheless, analysts at Credit Suisse stay bearish, with subsequent major support at 1.2256/51. See – USD/CAD: The road to 1.20 remains open – NBF Recent break below 1.2365 increases bearish…

Market News
S&P 500 Index: US corporate earnings poised for upward revision – DBS Bank

S&P 500 Index: US corporate earnings poised for upward revision – DBS Bank

US earnings powered ahead because the economy emerges from the ashes of the COVID-19 pandemic. Consensus is expecting US earnings growth of 48.1% this year, driven by 9.6% top-line growth and 4.3 % EBITDA margin expansion. Dylan…

Market News
Gold Price Analysis: XAU/USD eyes a sustained move above $1800 amid weaker Treasury yields

Gold Price Analysis: XAU/USD eyes a sustained move above $1800 amid weaker Treasury yields

Gold (XAU/USD) hit fresh three-month highs at $1798 on Monday, beginning the week on a solid footing. In Tuesday’s trading thus far, gold has eased off the multi-month highs, consolidating the recent upsurge heading into a fresh batch…

Market News
GBP/USD moved into a consolidative phase – UOB

GBP/USD moved into a consolidative phase – UOB

Cable is now poised to navigate within the 1.3800-1.4000 home in subsequent weeks, suggested FX Strategists at UOB Group. Key Quotes 24-hour view: “We highlighted yesterday that ‘the swift and sharp drop appears to be running before itself but there’s no sign…

Market News
NZD/USD struggles for direction, holds steady above mid-0.7100s

NZD/USD struggles for direction, holds steady above mid-0.7100s

NZD/USD met with some fresh supply on the primary day of a replacement trading week. A subdued USD demand, the risk-on mood helped limit losses for the main. Monday’s US ISM PMI and Powell’s speech eyed for a few trading impetuses. The…

Market News
S&P 500 Index: Three reasons to expect small gains over the next few years – CE

S&P 500 Index: Three reasons to expect small gains over the next few years – CE

Global stock markets are on something of a tear lately. The S&P 500 has gained another 6% in April, placing it slightly above the 4,200 level. it’d be tempting to think that stock markets could still rally alongside them but economists at…

Market News
USD/JPY: Upside momentum now targets 109.95 – UOB

USD/JPY: Upside momentum now targets 109.95 – UOB

UOB Group’s FX Strategists noted USD/JPY could now head towards the vicinity of the key 110.00 yardsticks within the next weeks. Key Quotes 24-hour view: “We highlighted last Friday that ‘there is that the chance for USD to check the main resistance…