The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on Tuesday, September 9. The preliminary revision will cover the 12-month period through March 2025 before the final benchmark revision is reported within the employment report of February 2026. "Official establishment survey estimates are not updated based on this preliminary benchmark revision. The final benchmark revision will be incorporated into official estimates with the publication of the January 2026 Employment Situation news release in...
The US Dollar Index (DXY), which tracks the greenback against a basket of currencies, fell for the second straight day on Monday and continued to slide from its highest level since November 2022 reached last week. The index maintained its negative bias through the first half of the European session and is currently hovering around the 108.70-108.65 area, down 0.25% for the day, although the fundamental backdrop warrants caution for bearish traders. The US ISM Manufacturing PMI improved from 48.4 to 49.3 in December, showing signs of economic resilience and growth potential amid optimism...
Oil prices fell on Monday amid a stronger U.S. dollar ahead of key economic data by the U.S. Federal Reserve and U.S. payrolls data later in the week. Brent crude futures were down 28 cents, or 0.4%, at $76.23 a barrel by 0800 GMT after closing at their highest since Oct. 14 on Friday. U.S. West Texas Intermediate crude futures were down 27 cents, or 0.4%, at $73.69 a barrel after closing at their highest since Oct. 11 on Friday. Crude prices posted gains in the previous five sessions on hopes of improved demand following cold weather in the Northern Hemisphere and more fiscal stimulus by...
Gold (XAU/USD) prices attracted some follow-through sellers at the start of a new week and retreated further from near three-week highs, around the $2,665 region touched on Friday. Prospects for a slower pace of interest rate cuts by the Federal Reserve (Fed) in 2025 remained supportive of the uptick in the US Treasury bond yields and turned out to be a key factor undermining the non-yielding yellow metal. Additionally, a positive risk tone exerted additional pressure on the safe-haven commodity and contributed to its offered tone for the second consecutive day. Meanwhile, the US Dollar...
Silver prices held steady around $29.50 an ounce on Monday as investors cautiously await key US economic data that could influence the Federal Reserve's monetary policy outlook. Among the upcoming reports, the market is mainly focused on the US monthly jobs report due on Friday, which could provide insight into whether silver will recover further. The white metal is also getting support from the positive economic outlook in China, the world's largest silver consumer. Beijing recently pledged "more proactive" macroeconomic policies and lower interest rates this year to stimulate...
After a solid start to the year yesterday, broad dollar gains have been checked back somewhat, leaving the Dollar Index (DXY) in consolidation mode into the weekend, Scotiabank's Chief FX Strategist Shaun Osborne notes.Some restraint in the dollar's overall advance would not be too surprising, despite its robust performance in the past couple of weeks. Fundamentals are favourable and seasonal trends suggest that strength is likely to persist through Q1. But the gains in the DXY are looking stretched relative to our fair value estimate based on rate differentials alone." "There is a Trump...
President Donald Trump said he would fire Lisa Cook from the Federal Reserve's Board of Governors if she does not resign her post over mortgage-fraud accusations from a top...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...