Author: FX Street

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US: Atlanta Fed's GDPNow declines to 8.3% for Q1 after latest US data

US: Atlanta Fed's GDPNow declines to 8.3% for Q1 after latest US data

US: Atlanta Fed's GDPNow declines to 8.3% for Q1 after latest US data The real gross domestic product (GDP) in the United States is expected to grow by 8.3%, down from 10% on March 1, in the first quarter of 2021, the Federal Reserve Bank of Atlanta’s latest GDPNow report showed on Friday. “After Monday’s GDPNow...

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US: NFP offers more strong evidence the labor market recovery is back on track – Wells Fargo

US: NFP offers more strong evidence the labor market recovery is back on track – Wells Fargo

US: NFP offers more strong evidence the labor market recovery is back on track – Wells Fargo The non-farm payrolls report showed a better-than-expected number for February. Hiring was widespread across industries and the unemployment rate ticked down for the right reasons, explains analysts at Wells Fargo. They consider that Although there is still a long...

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USD/MXN Price Analysis: Mexican peso under pressure amid risk aversion, eyes 21.50

USD/MXN Price Analysis: Mexican peso under pressure amid risk aversion, eyes 21.50

USD/MXN Price Analysis: Mexican peso under pressure amid risk aversion, eyes 21.50 Mexican peso under pressure amid risk aversion across financial markets. USD/MXN breaks 21.00 area, reaffirms bullish outlook. The USD/MXN broke above 21.00 and rose further. It peaked at 21.41 before pulling back to the 21.25 area. The rally reinforced the bullish outlook. Currently,...

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Gold Price Analysis: XAU/USD faces critical resistance at $1,718 after the NFP – Confluence Detector

Gold Price Analysis: XAU/USD faces critical resistance at $1,718 after the NFP – Confluence Detector

Gold Price Analysis: XAU/USD faces critical resistance at $1,718 after the NFP – Confluence Detector Gold has been on the back foot after Federal Reserve Chair Jerome Powell seemed reluctant to intervene and lower bond yields. Higher returns on US debt make the yieldless precious metal less attractive to investors. However, markets seem to have...

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AUD/USD: Long-term view indicates limited bearish scope

AUD/USD: Long-term view indicates limited bearish scope

AUD/USD: Long-term view indicates limited bearish scope AUD/USD kick-started the week with a positive tone, rising to 0.7837, but fell to its lowest in three weeks, below the 0.7700 threshold. The pair could extend its decline but aussie bulls won’t give up easily, Valeria Bednarik, Chief Analyst at FXStreet, reports. Key quotes “Australia will publish...

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Silver stays above $25.00 level despite strong US NFP report

Silver stays above $25.00 level despite strong US NFP report

Silver stays above $25.00 level despite strong US NFP report Spot silver only very briefly dipped below $25.00 in wake of a strong US NFP report. But the precious metal still trades lower on the day as precious metal sentiment remains ropey. Spot silver prices (XAG/USD) are currently trading in the low $25.00s, having been sent...