Canadian Dollar: Softer Canada jobs seen weigh against US Dollar – BBH

The post Canada Net Change in Employment came in at 18.2K, above forecasts (10K) in June appeared on BitcoinEthereumNews.com. EUR/USD struggles to gather bullish momentum on Friday and trades in a relatively tight range above 1.1400. In the absence of high-tier data releases, the uncertainty surrounding the US-Iran conflict causes investors to cling to a cautious stance and limits the pair’s upside. Later in the day, the Federal Reserve will publish its Semiannual Monetary Policy Report. Source: https://www.fxstreet.com/news/canada-net-change-in-employment-came-in-at-182k-above-forecasts-10k-in-june-202607101230

The post Euro retraces previous gains as Eurozone data paves the way for an ECB pause appeared on BitcoinEthereumNews.com. The Euro (EUR) has given away most of the daily gains against the US Dollar (USD) on Friday, returning to the 1.1430 area from session highs at 1.1475, which leaves the pair practically flat on the daily chart. Soft economic data from Eurozone countries, coupled with geopolitical uncertainty and higher Oil prices, is posing a significant weight on the Euro rallies. In Germany, June’s final Harmonized Index of Consumer Prices (HICP) confirmed previous estimations, showing that inflation slowed down to a 2.4% year-over-year (y-o-y) rate from 2.7% in May and from the April peak of 2.9%. Monthly inflation contracted 0.2%, also in line with preliminary estimations, and following a 0.1% contraction in May. At a later time, INSEE revealed that France’s Consumer Price Index (CPI) was also in line with the preliminary estimations. Yearly inflation eased to a 2% rate in June

Canada's job growth and declining unemployment may delay rate cuts, impacting currency dynamics and potentially benefiting crypto markets. The post Canada adds 18,200 jobs in June as unemployment rate dips, setting stage for Bank of Canada rate decision appeared first on Crypto Briefing.

The post Euro: Range-bound rebound faces key resistance against US Dollar – Societe Generale appeared on BitcoinEthereumNews.com. Societe Generale’s Kenneth Broux notes EUR/USD has rebounded after forming an interim low near 1.1325 and moved back into its prior range, signalling limited follow-through on the earlier breakdown. The bank stresses that resistance at 1.1475/1.1500 must be cleared to extend the bounce, while a drop below 1.1390 would risk resuming the broader downtrend. Bounce capped by 1.1500 barrier “EUR/USD has staged a modest rebound after carving out an interim low around 1.1325. The pair has re-integrated within previous range, indicating a lack of follow-through after the recent breakdown.” “However, clear signals of a large up move are not yet visible. The recent pivot high at 1.1475/1.1500 is the first layer of resistance. Overcoming this will be crucial for signalling an extension of the bounce.” “Conversely, there could be a risk of a continuation of the downtren

The post “The bar for a material hawkish turn is high”: ING says the Bank of Canada won’t surprise next week appeared on BitcoinEthereumNews.com. The Canadian Dollar (CAD) is outperforming the US Dollar in the short term, pulling the USD/CAD pair down from recent multi-month highs. This corrective move comes at a crucial juncture, as global markets look ahead to the Bank of Canada’s (BoC) upcoming policy meeting. While technical indicators suggest that the Greenback’s premium over the Loonie is overextended relative to bond yields, fundamental analysts caution that domestic softness and looming trade risks will ultimately limit the Canadian Dollar’s scope for a sustained recovery. USD/CAD daily chart. Source: FXStreet. Tactically expensive premium leaves USD/CAD vulnerable to a deeper pullback Societe Generale points out that the US Dollar’s recent rally against the Canadian Dollar has become fundamentally detached from underlying fixed-income markets. After encountering a firm ceiling

The post Gold: Tentative stabilisation on oil relief – OCBC appeared on BitcoinEthereumNews.com. OCBC strategists Christopher Wong and Sim Moh Siong highlight that Gold has rebounded as Oil prices eased, reducing inflation and Fed tightening concerns, while a softer US Dollar also supported the move. However, ETF holdings remain lower month-to-date, suggesting the recovery is more relief-driven than a decisive return of investor demand. Near term, Gold could trade with a better tone if Oil and yields stay contained. Relief-driven recovery in Gold “Gold. Tentative stabilisation on oil relief. Gold rebounded as oil prices eased from their recent spike, taking some pressure off inflation expectations, yields and Fed tightening concerns. A softer USD also helped the recovery, after the recent selloff across the precious metals complex.” “But ETF flows have yet to confirm a broader investor rebuild. Bloomberg data show total known gold ETF holdings remain lower month-to-date, even though ho

The post New Zealand Dollar eases from three-week highs near 0.5800 as the US Dollar bounces up appeared on BitcoinEthereumNews.com. The New Zealand Dollar (NZD) is giving away gains against the US Dollar (USD) on Friday, trading at the 0.5775 area after hitting fresh three-week highs at 0.5794 earlier on the day. The pair, however, is on track for a 1% weekly appreciation, boosted by a hawkish hike by the Reserve Bank of New Zealand (RBNZ) earlier this week. The US Dollar trims losses in a calm Friday European trading session as investors ponder rumours about diplomatic efforts by mediators to bring the US and Iran back to the negotiating table. Rival countries halted their hostilities on Friday after a series of tit-for-tat attacks earlier on the week, although the key Strait of Hormuz remains practically closed, which is keeping investors’ appetite for risk subdued. Earlier on the week, the RBNZ hiked its Official Cash Rate (OCR) by 25 basis points to 2.5% and hinted at further mone

The post US Dollar: Geopolitics faded as markets eye rates – ING appeared on BitcoinEthereumNews.com. ING’s Francesco Pesole notes the US Dollar (USD) has been broadly unchanged despite renewed Middle East tensions, as Oil has retraced and risk sentiment improved. He highlights that fading geopolitical risk keeps focus on front-end rate differentials, which have moved against the Dollar in some cases. ING sees upside risks for the Dollar but expects only limited DXY reaction if Oil stays contained. Dollar sidelined by rate focus “Markets are taking a decisively optimistic stance on fresh US-Iran tensions. Multiple reports indicate traffic in Hormuz has dropped to almost zero in the past couple of days, and we have seen effectively no intent of de-escalation from either party.” “The 2-year USD swap rate has erased roughly half of the 10bp jump after the re-escalation – 35bp of tightening is currently priced in for December.” “The dollar is seeing no benefits from this situation. Fading