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WTI hits three-month low as OPEC+ meeting looms
West Texas Intermediate (WTI) Crude Oil is heading into the weekend under heavy pressure, extending its losing streak to a third straight day as traders brace for the Organization of the Petroleum Exporting Countries and allies (OPEC+) meeting on Sunday, September 7.
US Treasury Secretary Scott Bessent says the Fed must re-establish its credibility
United States (US) Treasury Secretary Scott Bessent warned that the Federal Reserve (Fed) must re-establish its crediblity and trust with the American people during an interview with the Wall Street Journal, published on Friday.
US: We now expect a 50bps Fed cut in September - Standard Chartered
August non-farm payrolls rose just 22k, well below the 75k consensus; three-month average is now 29k.
AUD/USD jumps to six-week high as weak US NFP cement Fed cut
The AUD/USD rallies to six weeks high of 0.6588 after the latest Nonfarm Payrolls report in the United States (US), had cemented the case that the Federal Reserve would cut rates at the September meeting. The pair trades at 0.6565 up 0.40%
Silver consolidates near 14-year high as weak NFP data boosts Fed cut bets
Silver (XAG/USD) is holding firm around $41.00 on Friday after retesting multi-year highs in the wake of soft US Nonfarm Payrolls (NFP) data. The metal peaked at $41.47 on Wednesday, its strongest level since September 2011, before easing slightly on Thursday.
USD/CAD steadies near 1.3800 as Canada jobs slump offsets US Dollar weakness
The Canadian Dollar (CAD) weakens on Friday after dismal labor market data, but broad US Dollar (USD) softness following a weak US Nonfarm Payrolls (NFP) report kept USD/CAD's upside in check. The pair is holding near the 1.3800 handle, rebounding from a four-day low in the aftermath of the release.
ECB preview: The ECB's rate cut cycle is probably over - ABN AMRO
The Governing Council kept policy on hold in July, and is likely to remain on hold at the September meeting and for the foreseeable future, ABN AMRO's economists Nick Kounis and Bill Divney report.
US Dollar Index sinks below 98.00 as Fed rate cut bets pick up pace
The Greenback loses further momentum on Friday, en route to weekly losses.
USD/JPY drops toward 147.00 as USD weakens after NFP data
After spending the first half of the day comfortably above 148.00, USD/JPY reversed its direction in the American session and dropped toward 147.00. As of writing, the pair was down 0.75% on the day at 147.30.
Canada Unemployment Rate rises to 7.1% in August vs. 7% expected
The Unemployment Rate in Canada rose to 7.1% in August from 6.9% in July, Statistics Canada reported on Friday. This reading came in worse than the market expectation of 7%.
GBP/USD climbs above 1.3500 after dismal US jobs data
GBP/USD gathered bullish momentum and climbed above 1.3500 in the American session on Friday. At the time of press, the pair was up 0.6% on the day at 1.3515.
EUR/USD surges above 1.1700 as weak US NFP drags Dollar Index and yields lower
The Euro (EUR) rallies against the US Dollar (USD) on Friday after the US Nonfarm Payrolls (NFP) report disappointed with just 22K jobs added in August, far below the 75K expected and July's 79K (revised from 73K).
EUR/GBP steadies as markets weigh Eurozone growth and UK Retail Sales
The Euro (EUR) edges higher against the British Pound (GBP) on Friday, with EUR/GBP trading around 0.8680 during the European session.
WGC wants to introduce digital Gold - Commerzbank
The World Gold Council (WGC) has presented a new idea aimed at modernizing the Gold market. According to this idea, there are plans to introduce a form of digital Gold, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
GBP grind higher extends - Scotiabank
Cable has advanced steadily over the course of the Asian and European sessions to near 1.35 after UK Retail Sales rose 0.5% in July, a little better than the expected 0.3% M/M gain, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
China to import (even) more gas from Russia in future - Commerzbank
At the meeting between Russian President Putin and his Chinese counterpart Xi, both countries agreed on higher gas deliveries in future. On the one hand, deliveries via existing pipelines are to be increased, Commerzbank's commodity analyst Barbara Lambrecht notes.
NZD/USD pares losses and approaches 0.5900 ahead of the US NFP release
The New Zealand Dollar reverses previous losses on Friday, buoyed by a mild appetite for risk and the US Dollar's weakness as investors take positions for a soft US Nonfarm Payrolls report that would consolidate hopes of Fed interest rate cuts.
EUR's steady recovery from mid-week low nears key resistance at 1.1725 - Scotiabank
The EUR has made solid progress from its mid-week low to approach the US jobs data more or less flat on the week.
WTI trades cautiously near $62.50 ahead of US NFP, OPEC meeting
West Texas Intermediate (WTI), futures on NYMEX, trades with caution around $62.50 during the late European trading session on Friday. The Oil price faces selling pressure as United States (US) oil inventory data for the week ending July 29 came in surprisingly higher.
Sharp increase in Russian oil shipments to China and India - Commerzbank
Russia continues to find sufficient buyers for its oil despite increasing pressure from the US, as shown by data on seaborne oil exports published by Bloomberg, Commerzbank's commodity analyst Carsten Fritsch notes.
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