Free Trial
USDCAD TECHS

Remains Vulnerable

AUDUSD TECHS

Trend Needle Points North

US TSYS

Bonds Near Highs, Yield Curves Flatter

EURJPY TECHS

Bearish Outlook

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Dollar Extends Bounce Off Support on NFP Beat

FOREX
  • The May NFP report was swallowed positively by markets Friday, with the headline beat on job gains allied with positive net revisions to make for a solid release. Markets brushed off the unchanged unemployment rate (median was for a 0.1 ppts drop) to help the USD Index bounce further off support at the 50-dma, which remains a key for markets headed through June and the next Fed rate decision.
  • The JPY was among the weakest currencies in G10 Friday, with EUR/JPY hitting fresh YTD highs as the cross rallied through the Y140.00 bull trigger (the April 2022 high) to hit the highest levels since 2015.
  • USD/CAD extended the recent downtick into the Friday close, extending the CAD rally that followed the hawkish nudge on Thursday from Dep Gov Beaudry, who noted that the Bank can act “more forcefully” on rates.
  • The recovery in NZD/USD across the May stalled Friday as the pair failed to mount an attempt on the key resistance at the 0.6601 50-dma.
  • Rate decisions from the Eurozone, Australia, India, Russia and Poland should keep markets busy next week. China PMI, trade balance & inflation releases are the data highlights alongside Japanese GDP.
193 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • The May NFP report was swallowed positively by markets Friday, with the headline beat on job gains allied with positive net revisions to make for a solid release. Markets brushed off the unchanged unemployment rate (median was for a 0.1 ppts drop) to help the USD Index bounce further off support at the 50-dma, which remains a key for markets headed through June and the next Fed rate decision.
  • The JPY was among the weakest currencies in G10 Friday, with EUR/JPY hitting fresh YTD highs as the cross rallied through the Y140.00 bull trigger (the April 2022 high) to hit the highest levels since 2015.
  • USD/CAD extended the recent downtick into the Friday close, extending the CAD rally that followed the hawkish nudge on Thursday from Dep Gov Beaudry, who noted that the Bank can act “more forcefully” on rates.
  • The recovery in NZD/USD across the May stalled Friday as the pair failed to mount an attempt on the key resistance at the 0.6601 50-dma.
  • Rate decisions from the Eurozone, Australia, India, Russia and Poland should keep markets busy next week. China PMI, trade balance & inflation releases are the data highlights alongside Japanese GDP.