Market News Headlines
Forex Market News
Gold Rallies to a Fresh Record High after a Sharp Jump in US Unemployment
Gold would seemingly defy both the general pace of risk appetite and logic Friday after the release of October’s non-farm payrolls. In the past weeks and months, the precious metal has developed a significant, positive correlation to the Dow Jones Industrial Average and other equity benchmarks. However, whereas stocks would initially plunge and eventually stabilize after the market-moving data crossed the wires; spot gold would actually rally to a new record high just above $1,100 an ounce.
... read moreDaily Fundamentals
US Dollar, Japanese Yen Mixed as Surge in Unemployment Rate to 26-Year High Sparks Choppy Reactions
• Canadian Dollar Dives Despite Other Commodity Dollar Rallies as Economy Unexpectedly Loses 43,200 Jobs in October
• Euro Lags Following Cautious Comments from ECB’s Nowotny, Gonzalez-Paramo
• British Pound Gains Against Dollar as UK Producer Prices Rise for Eighth Month
Commodities
Gold’s Bullish Momentum Stabilizes ahead of US Employment Report
Momentum was still the primary element of price action for gold Thursday. Extending the aggressive rally following the Indian Central Bank’s large gold purchase from the IMF this past Tuesday, the metal was attempting to close a fourth consecutive advance (but struggling to do so as risk appetite wavers).
... read more
Trading the News
The U.S. dollar may face increased selling pressures over the next 24 hours of trading as economists forecast non-farm payrolls to contract 175K in October, and the slump in the labor market is likely to weigh on the outlook for future growth as private-sector spending accounts for more than two-thirds of the economy.
... read more5 Key Events for the
Forex Market This Week
With much of the biggest US event risk for the month out of the way, the coming week will present an opportunity to focus on the euro and British pound. Indeed, the Q3 GDP report for the Euro-zone may show that the region started to emerge from recession, while the Bank of England’s Quarterly Inflation Report will provide clues of the central bank’s stance on monetary policy. Not to be forgotten, the German ZEW survey, Australian employment change, and University of Michigan consumer confidence reports could all have an impact on FX trade.
... read moreLatest Market Strategy Columns
Is it a coincidence that the bullish rally behind the capital markets has stalled and threatened a retracement just as the world’s central banks start to confirm their intentions to withdrawal the emergency aid initially put into place to stem a financial and economic collapse? While it is too early to tell whether the removal of speculators’ government safety net will spark profit taking and a meaningful reversal from those proxies that have risen so consistently through most of the year; we are seeing market participant growing more critical of the divergence between the fundamentals and the months of speculative exuberance.
... read moreMore Strategy
| Day | Week | Month | ||||||
| CAD/JPY | -159 | -1.90% | AUD/USD | +193 | +2.10% | GBP/CAD | +738 | +4.14% |
| AUD/CAD | +180 | +1.82% | AUD/JPY | +153 | +1.85% | GBP/JPY | +483 | +3.26% |
| EUR/JPY | -151 | -1.13% | AUD/CAD | +126 | +1.28% | AUD/CAD | +303 | +3.11% |
| GBP/CAD | +200 | +1.12% | EUR/AUD | -206 | -1.27% | GBP/USD | +464 | +2.82% |
| CHF/JPY | -97 | -1.10% | AUD/NZD | +150 | +1.19% | AUD/NZD | +303 | +2.42% |
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| Live Currency Rates | |||
|---|---|---|---|
| Name | Last | High | Low |
| Daily Economic Calendar | ||||
|---|---|---|---|---|
| Time | Event | Actual | Forecast | |
| GMT12:00 |  |
GBP Bank of England Interest Rate Decision | 0.50% | 0.50% |
| GMT12:00 | |
GBP Bank of England Asset Purchase Target | 200B | 225B |
| GMT12:45 |  |
EUR European Central Bank Interest Rate Decision | 1.00% | 1.00% |
| Global Market Data |
|---|
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| Central Bank Rates | ||||||
|---|---|---|---|---|---|---|
| Currency | Rates | Currency | Rates | |||
 |
NZD | 2.50% |  |
AUD | 3.50% | |
|
GBP | 0.50% |  |
USD | 0.25% | |
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CAD | 0.25% | |
EUR | 1.00% | |
 |
CHF | 0.25% |  |
JPY | 0.10% | |
