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NZD/USD snaps its winning streak due to a rebound in the US Dollar. The US Dollar struggled due to softer-than-expected US jobs data revived hopes for the Fed’s interest rate cuts later this year. RBNZ signaled to delay any shift toward monetary easing until 2025 due to higher inflation in Q1. The NZD/USD pair experienced…

The European Central Bank (ECB) Chief Economist Philip Lane said on Monday that the recent Eurozone economic data have made him more certain that inflation is returning to the ECB 2% target, boosting the possibility of a first interest-rate cut in June, per Bloomberg.  Key quotes “Both the April flash estimate for euro area inflation…

Gold price attracts some buyers amid the softer USD on Monday.  The growing expectations that the Fed will start cutting interest rates later in the year lifted the yellow metal.  The easing Middle East tensions and risk-on mood might cap the gold’s upside.  Gold price (XAU/USD) snaps the two-day losing streak during the Asian session…

WTI price gained ground after Saudi Arabia increased the Official Selling Prices (OSPs) for Oil sold to most regions. OPEC+ producers are prepared to prolong voluntary output cuts of 2.2 million barrels per day beyond June. Oil prices edged up due to concerns about the potential failure of a Gaza ceasefire deal. West Texas Intermediate (WTI)…

USD/JPY gains ground near 153.55 in Monday’s Asian session.  US Treasury Secretary counsels caution on currency intervention from Japanese authorities.  The US NFP increased by 175K in April, compared to 315K in March, missing the estimation of 243K.  The USD/JPY pair snap a three-day losing streak during the Asian trading hours on Monday. The uptick of the pair is…

China’s Services Purchasing Managers’ Index (PMI) eased to 52.5 in April, compared with the March print of 52.7, the latest data published by Caixin showed on Tuesday. The data came in line with the market expectations in the reported period. AUD/USD reaction to China’s Services PMI At the time of writing, the AUD/USD pair is…

The Australian Dollar rises on risk-on sentiment after softer US jobs data released on Friday. The Australian Dollar received strength from the hawkish sentiment surrounding the RBA. The Nonfarm Payrolls report indicated fewer jobs added than anticipated in April, marking a notable deceleration from March’s reading. The Australian Dollar (AUD) maintained its winning streak for the…