The European Union (EU) Economy Commissioner Paolo Gentiloni reiterated that Euroarea inflation is transitory in a Bloomberg interview, although warned the European Central Bank (ECB) over a premature monetary policy tightening. Key quotes “We are monitoring euro-area inflation — we should monitor it very accurately — but without making conclusions too soon” “I think it would
August’s Nonfarm Payrolls figures have badly disappointed. A softer USD was somewhat faded following the release as some of the weakness may have been baked into the cake. Going forward, economists at TD Securities think USD could begin to stall.  USD to underperform vs. AUD and NZD “Payrolls rose 235K, well below consensus. Revisions add
USD/CNH picks up bids to refresh intraday high, snaps three-day downtrend. 100-DMA, two-week-old resistance line guard recovery moves. Key Fibonacci retracement levels are on the bear’s radar. USD/CNH takes the bids to renew intraday high with 6.4551, up 0.10% on a day, after China’s Caixin Services PMI and Composite PMI disappointed traders during early Friday.
ISM Chicago PMI came in lower than expected in August. US Dollar Index stays in the negative territory near 92.50. The Chicago Purchasing Managers Index released by ISM-Chicago dropped to 66.8 in August from 73.4 in July, showing deteriorating business conditions across Illinois, Indiana and Michigan. This reading came in lower than the market expectation
EUR/GBP edges lower in the Asian session on Tuesday. The Euro gains momentum on upbeat economic data, dollar weakness. The sterling remains on the backfoot amid  Brexit chaos. After consolidating gains in the previous week, EUR/GBP continues to trades higher in the Asian session. The pair confides in a narrow trade band ahead of crucial
Commenting on the US jobs scenario in an interview with CNBC late Friday, Federal Reserve Vice Chair Richard Clarida said, “We’ve made progress on the labor market.” Additional quotes “Expect further gains in the autumn.” “I don’t think it takes 800K gains in jobs but it will take robust gains.” “Inflation is very likely to be largely
“One more good jobs report will be sufficient to be able to start tapering,” the US Federal Reserve (Fed) Governor Christopher Waller said in Yahoo Finance interview, adding that “we would like to start tapering early this fall.” Read: Federal Reserve Chair Powell: Make me a rate hawk, but not yet Further comments “We don’t look