Forex News
Gold Up as Nonfarm Payrolls Unexpected 263k Positions – Gold Silver Reports
Gold Silver Reports (GSR) – Gold Up Nonfarm payroll unexpected 263k positions. March payrolls were revised slightly downward to 189k compared to 196k originally reported.
The Dollar Index has Fallen Four of the Five Times the FOMC met this Year
The US dollar is trading with a softer bias in tight ranges. The euro and sterling have been confined to yesterday’s ranges, while the greenback briefly traded above JPY113.00 for the first time in two months. The South African rand and Turkish lira are leading the most emerging market currencies higher.
India’s Forex Reserves Fall for the 4th Week in a Row
Gold Silver Reports (GSR) – India’s Forex Reserves Fall for the 4th Week in a Row — India’s foreign exchange (forex) reserves on Friday recorded a weekly fall for the fourth time in a row at a time when rupee has been under pressure against the dollar. The Reserve Bank of India (RBI) data showed forex reserves fell $1.2 billion on-week to $417.7 billion as on 11 May.
Goldman Sees the Australian Dollar Falling to 72 Cents; Report
Gold Silver Reports (GSR) – Goldman Sees the Australian Dollar Falling to 72 Cents – The Aussie will decline to 72 U.S. cents by year-end as restrained economic growth and inflation mean the Reserve Bank of Australia will take a “few years” to catch up with the Federal Reserve in raising borrowing costs, said Philip Moffitt, Asia-Pacific head of fixed income in Sydney at the firm, which oversees more than $1 trillion.