The Pound Sterling saw a boost in value as exit polls predicted a landslide victory for the Labour Party in the UK general election. This news caused GBP/JPY to move away from its multi-year top and slide to the 205.00 neighborhood amid intervention fears.
Meanwhile, Gold prices steadily climbed back closer to a two-week high, with the focus remaining on the upcoming US Non-Farm Payrolls (NFP) data. The USD/INR strengthened ahead of the NFP data release, while Japan's Suzuki stated that they would closely monitor stock and forex markets with vigilance.
WTI crude oil moved away from its over two-month peak but held above $83.00 as traders awaited the US NFP report. The Australian Dollar rose as high inflation drove the Reserve Bank of Australia's hawkish stance, while the USD/CAD remained under selling pressure near 1.3600 ahead of US/Canadian employment data.
The People's Bank of China set the USD/CNY reference rate slightly lower, while the USD/JPY held positive ground above 161.00 with all eyes on the US NFP data. The EUR/USD held steady with the US NFP and EU Retail Sales in focus, and the NZD/USD lost traction below 0.6150 ahead of the US NFP data release.
As the UK election results indicated a potential victory for the Labour Party, the GBP/USD traded tepidly while awaiting the US NFP report. Gold prices consolidated amid choppy trading ahead of the NFP data release, and the USD/JPY softened lower after edging close to 162.00.
Overall, the markets are eagerly awaiting the US NFP report, which will likely have a significant impact on various currency pairs and commodities. Stay tuned for more updates as the trading day progresses.
Learn about my trading tools: https://www.mql5.com/en/users/philip.edits/seller
Meanwhile, Gold prices steadily climbed back closer to a two-week high, with the focus remaining on the upcoming US Non-Farm Payrolls (NFP) data. The USD/INR strengthened ahead of the NFP data release, while Japan's Suzuki stated that they would closely monitor stock and forex markets with vigilance.
WTI crude oil moved away from its over two-month peak but held above $83.00 as traders awaited the US NFP report. The Australian Dollar rose as high inflation drove the Reserve Bank of Australia's hawkish stance, while the USD/CAD remained under selling pressure near 1.3600 ahead of US/Canadian employment data.
The People's Bank of China set the USD/CNY reference rate slightly lower, while the USD/JPY held positive ground above 161.00 with all eyes on the US NFP data. The EUR/USD held steady with the US NFP and EU Retail Sales in focus, and the NZD/USD lost traction below 0.6150 ahead of the US NFP data release.
As the UK election results indicated a potential victory for the Labour Party, the GBP/USD traded tepidly while awaiting the US NFP report. Gold prices consolidated amid choppy trading ahead of the NFP data release, and the USD/JPY softened lower after edging close to 162.00.
Overall, the markets are eagerly awaiting the US NFP report, which will likely have a significant impact on various currency pairs and commodities. Stay tuned for more updates as the trading day progresses.
Learn about my trading tools: https://www.mql5.com/en/users/philip.edits/seller
