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The Wall Street Journal
Japan’s Nikkei Hits New 33-Year High After U.S. Jobs Data Brighten Outlook
Investors have found plenty of reasons to buy Japanese stocks this year, and a robust U.S. jobs report was as good as any. The Nikkei Stock Average rose 2.2% to 32217.43 on Monday, closing above the 32,000 mark for the first time since July 1990, as [strong U.
Yahoo Finance UK
FTSE 100 and European stocks higher as oil prices rise on Saudi supply cut
The president of the European Central Bank, Christine Lagarde, will be giving a speech later that could reveal clues on the future path of interest rates.
Investing.com
Dollar climbs on expectations of a still hawkish Fed
The U.S. dollar climbed higher in early European trade Monday after a healthy jobs report prompted traders to price in a continuation of the Federal Reserve’s hawkish stance. The dollar has been boosted by the release of forecast-smashing U.S. jobs figures, prompting U.S. Treasury yields to soar as a robust labor market coupled with stronger-than-expected print on the Fed’s preferred inflation index earlier in May pointed to the U.S. central bank keeping interest rates higher for longer. The Fed meets next week and expectations of another rate increase are rising, particularly given the growing hopes the U.S. economy is headed for a 'soft landing' after Congress's approval last week of a debt ceiling deal that averts U.S. default.
Bloomberg
Asset Managers Join Hedge Funds in Boosting Yen-Short Positions
(Bloomberg) -- Asset managers joined hedge funds in increasing yen-bearish positions amid speculation the Bank of Japan isn’t likely to rush to adjust its ultra-easy monetary policy. Most Read from BloombergOPEC+ Latest: Saudis Unveil Extra 1 Million Barrel CutOil Rises on Saudi Arabia’s Go-It-Alone July Production CutsMorgan Stanley Expects a Shock 16% US Profit Drop to Kill RallySaudi Shoulders Burden to Support Oil Market With Extra CutsUS-China Handshake Fails to Stem Fears of Conflict in As
Yahoo Finance UK
Number of young people not working due to ill-heath almost doubles
Worklessness due to ill health heavily concentrated among those with poor qualification levels.
Investing.com
Asia FX falls as Fed jitters boost dollar, central banks awaited
Investing.com -- Most Asian currencies retreated on Monday, while the dollar traded near two-month highs amid uncertainty over whether the Federal Reserve would hike interest rates in June, with focus now turning to central bank meetings in India and Australia this week.
Bloomberg
Rupee’s Key Support Level in Focus as RBI Review Approaches
(Bloomberg) -- The Reserve Bank of India may face growing pressure to defend a key level for the rupee as its interest-rate pause looks set to weigh on the currency.Most Read from BloombergOPEC+ Latest: Saudis Unveil Extra 1 Million Barrel CutOil Rises on Saudi Arabia’s Go-It-Alone July Production CutsMorgan Stanley Expects a Shock 16% US Profit Drop to Kill RallySaudi Shoulders Burden to Support Oil Market With Extra CutsUS-China Handshake Fails to Stem Fears of Conflict in AsiaThe rupee is poi
Bloomberg
After Month of Pain, Euro Bulls Look to Fed Pause for Relief
(Bloomberg) -- Investors who took out long positions in the euro could be in for some respite, even as a shaky outlook for the economy continues to stalk the common currency.Most Read from BloombergOPEC+ Latest: Saudis Unveil Extra 1 Million Barrel CutOil Rises on Saudi Arabia’s Go-It-Alone July Production CutsMorgan Stanley Expects a Shock 16% US Profit Drop to Kill RallySaudi Shoulders Burden to Support Oil Market With Extra CutsUS-China Handshake Fails to Stem Fears of Conflict in AsiaSlowing
Business Insider
Dollar dominance could give way to a new regime that includes the euro, yuan, CBDCs, and maybe something 'we have yet to see'
"Within the next decade or two, there is great potential for regionally-dominant currencies and a multipolar international regime to emerge."
Business Insider
Dollar dominance could give way to a 'tripolar' currency system as China's yuan and the euro rise on the world stage
"With capital controls, it would be difficult for the [yuan] to become a viable international currency," economist Stephen Jen told Insider.
Reuters
Canadian dollar extends weekly gain on rising investor sentiment
The Canadian dollar strengthened to a two-week high against its U.S. counterpart on Friday as investors grew more optimistic on the outlook for riskier financial assets and weighed prospects of the Bank of Canada resuming interest rate hikes. The loonie was trading 0.2% higher at C$1.3425 to the greenback, or 74.49 U.S. cents, after touching its strongest intraday level since May 16 at 1.3408. "With rebounding market sentiment, yield spreads moving in favour of Canada, and commodities picking up steam, it's been the perfect cocktail for a loonie rally this week," said Jay Zhao-Murray, a market analyst at Monex Canada Inc.
FX Empire
USD/JPY Weekly Forecast – US Dollar Dips but Finds Buyers
The US dollar has fallen during the course of the trading week, but started to see buyers as we approach the crucial ¥138 level.
FX Empire
GBP to USD Weekly Forecast – British Pound Pulls Back From Resistance
The British pound rallied during the course of the trading week but has hit a bit of a brick wall at the 1.2550 level.
FX Empire
GBP/JPY Weekly Forecast – British Pound Continues to Stretch Higher Against Yen
The British pound has pulled back just a bit during the course of the trading week against the Japanese yen only to find buyers yet again.
FX Empire
EUR/USD Weekly Forecast – Euro Peaks Below Major Trend Line
The euro has broken down below the major trend line that we have been following during the week, only to turn around and recapture it.
FX Empire
AUDUSD Weekly Price Forecast – Australian Dollar Has a Strong Bounce Back Week
The Australian dollar initially fell during the course of the trading week, but then turned around to show signs of life again. By doing so, it looks like we are testing major resistance.
FX Empire
GBP to USD Forecast – British Pound Testing Major Resistance
The British pound has gone back and forth during the trading session on Friday, as the jobs report came out much stronger than anticipated.
FX Empire
GBP/JPY Forecast – British Pound Attempting to Break Out
The British pound is starting to rally significantly during the trading session on Friday as it looks like the Japanese yen continues to get pummeled.
Reuters
Hungary cbank chief sees chance for euro adoption only after 2030
Hungary should not consider adopting the euro before 2030 as joining the single currency zone before its economy is duly prepared would backfire, central bank governor Gyorgy Matolcsy said on Friday. Matolcsy said once Hungary reaches about 90% of the EU's average level in terms of economic development, then the adoption of the single currency could be put on the agenda. "Perhaps around 2030 or a bit later we could reach ... 90% of the EU's average in terms of development, then it's worth entering (the euro zone) as the euro has many advantages," Matolcsy said.
FX Empire
EUR/USD Forecast – Euro Has a Choppy Friday
The euro has gone back and forth on Friday, which is quite typical for a Non-Farm Payroll Friday, as traders try to position themselves for Federal Reserve expectations.
FX Empire
AUDUSD Forecast – Australian Dollar Rallies to Smash Through 0.66
The Aussie dollar has rallied rather significantly during the trading session on Friday, to break above the crucial 0.66 level.
Yahoo Finance UK
Trending tickers: Dechra | Wizz Air | Aviva | Lululemon
The latest investor updates on stocks that are trending on Friday.
Reuters
Pound heads for biggest weekly gain in six months
Sterling headed for its biggest one-week rally against the dollar in six months on Friday, as U.S. interest rates looked increasingly likely to plateau sooner than UK rates. Britain has avoided recession, but the squeeze of the cost of living crisis on consumers and households is clear, given recent data on business activity, employment and lending.
CoinDesk
Binance Australia Stops AUD Bank Transfers as Search for Payment Partner Drags On
Customers can still buy and sell crypto using credit and debit cards after the halt, which was announced last month.
Reuters
INDIA RUPEE-Rupee reaches 2-wk high on weak dollar, eyes US jobs data
The rupee was at 82.3525 against the U.S. dollar by 11 a.m. IST, compared to 82.4050 on Thursday. The USD/INR pair falling below 82.50 is a sign of weakness in the uptrend and short-term traders will now be watching 82.30 levels, said Dilip Parmar, research analyst at HDFC Securities. Odds of a rate hike this month have come off on less hawkish remarks from two Fed policymakers and an article in The Wall Street Journal that said the U.S. central bank will pause.