The Japanese yen is down sharply on Thursday. In the European session, USD/JPY is trading at 149.12, up 0.64%.
08-02-2024 08:28 GMT
by Kenneth Fisher
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OANDA Senior Market Analyst Craig Erlam discusses the breakout seen in GBPUSD after last week's US jobs report and gives his updated analysis of the chart.
08-02-2024 08:10 GMT
by Craig Erlam
The Australian dollar has edged lower after China posted a soft inflation report. In the European session, AUD/USD is trading at 0.6509, down 0.18%.
The new year hasn't brought much cheer to the Australian dollar, which hasn't had a winning week in 2024.
08-02-2024 05:21 GMT
by Kenneth Fisher
Fed policymakers sticking to the script
US data continues to point to a strong economy
Fib rebound may suggest we've seen a correction in GBPUSD
It isn't the busiest week as far as UK and US economic data is concerned but there are still a few pieces worth keeping an eye on. As well as, of course, the scattering of central bank speak.
So far, policymakers appear to remain consistent with the message from the last meeting despite Friday's surprisingly strong jobs report.
The services PMI on Mo
07-02-2024 17:23 GMT
by Craig Erlam
OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss how markets are trading this week in light of recent Federal Reserve commentary.
07-02-2024 16:12 GMT
by Craig Erlam
EUR/USD has posted slight gains on Wednesday. In the North American session, the euro is trading at 1.0773, up 0.19%.
German industrial production falls in December
This week's German data has analysts scratching their heads.
07-02-2024 11:58 GMT
by Kenneth Fisher
Despite a recent slowdown in Australia’s monthly CPI for December 2023, the Australian central bank, RBA has chosen to remain on the cautious side and push back rate cut expectations.
RBA’s monetary policy statement has stated that service inflation may remain sticky on the high side, and overall inflation may take some time to reach RBA’s target of 2% to 3%.
Last week’s AUD weakness against the US dollar has started to taper off intraday, supported by the renewed hawkish vibes from RBA.
07-02-2024 06:26 GMT
by Kelvin Wong
New Zealand's unemployment rises, wages ease
The New Zealand dollar is drifting on Wednesday, after jumping 0.73% a day earlier. In the North American session, NZD/USD is trading at 0.6104, up 0.12%.
New Zealand's employment change rises
New Zealand's employment report for the fourth quarter indicated that the labour market remains relatively strong.
07-02-2024 04:50 GMT
by Kenneth Fisher
Traders pare rate cut expectations after strong US data
UK households remain cautious with spending in December
GBPUSD breaks quadruple top neckline
The US economy is going from strength to strength, complicating the Federal Reserve's intentions to cut interest rates multiple times this year.
The jobs report on Friday was red hot, with the wages component particularly problematic from a central bank perspective as it looks for further evidence that inflation is returning sustainably to target.
06-02-2024 12:14 GMT
by Craig Erlam
The Japanese yen is showing limited movement on Tuesday. In the North American session, USD/JPY is trading at 148.56, down 0.09%.
Japan released mixed data on Monday.
06-02-2024 09:51 GMT
by Kenneth Fisher
New Zealand's job growth expected to rise to 0.2%
The New Zealand dollar is showing limited movement on Tuesday. Early in the North American session, NZD/USD is trading at 0.6052, down 0.03%.
New Zealand job growth expected to rebound
New Zealand releases the fourth-quarter employment report later today.
06-02-2024 09:00 GMT
by Kenneth Fisher
The Australian dollar is showing limited movement on Tuesday, after the Reserve Bank of Australia held interest rates. In the European session, AUD/USD is trading at 0.6493, up 0.61%.
RBA maintains rates
The RBA left interest rates unchanged at 4.35% at its first meeting of 2024.
06-02-2024 06:52 GMT
by Kenneth Fisher
OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic data and events, especially on the recent resurgence of US dollar strength (triggered by FOMC's pushed back on Fed funds rate cut cycle & stellar US NFP numbers ) that may put further downside pressure on the current depressed state of China and Hong Kong stock markets.
05-02-2024 20:52 GMT
by Kelvin Wong
The Japanese yen continues to lose ground in the aftermath of the US nonfarm payroll report, which was much stronger than expected. In the North American session, USD/JPY is trading at 148.88, up 0.33%.
Yen tumbles after hot US nonfarm payrolls
The US dollar ended the week on a high note, courtesy of nonfarm payrolls soaring to 353 thousand in January, crushing the market estimate of 180,000.
05-02-2024 09:45 GMT
by Kenneth Fisher
EUR/USD has extended its losses on Monday. In the European session, the euro is trading at 1.0749, down 0.34%.
05-02-2024 07:38 GMT
by Kenneth Fisher
The Australian dollar is slightly lower on Monday, after sliding 0.90% on Friday. In the European session, AUD/USD is trading at 0.6499, down 0.21%.
05-02-2024 06:25 GMT
by Kenneth Fisher
The Australian dollar has fallen almost 1% after the US nonfarm payrolls and has given up today's earlier gains. In the North American session, AUD/USD is trading at 0.6644, down 0.40%.
The US dollar has started 2024 on the right foot, recording gains against most of the major currencies in the month of January.
02-02-2024 09:04 GMT
by Kenneth Fisher
The Canadian dollar is drifting but things could get busier in the North American session as the US releases the nonfarm payrolls report. In the European session, USD/CAD is trading at 1.3371, down 0.11%.
US nonfarm payrolls expected to drop to 180,000
The week wraps up with the US nonfarm payroll report later today.
02-02-2024 06:16 GMT
by Kenneth Fisher
EUR/USD has edged higher in the European session and trading at 1.0890, up 0.18% on the day. The euro had a strong day on Thursday, gaining 0.50%.
Eurozone CPI eases to 2.8%
Inflation continues to fall in the eurozone, although the drop was very modest.
02-02-2024 05:25 GMT
by Kenneth Fisher
BoE offered dovish guidance but projected that inflation may run hot again in Q1 2025.
GBP has remained the top outperformer major currency against the US dollar.
Technical analysis suggests a potential bullish breakout for GBP/USD.
The British pound sterling (GBP) made remarkable intraday recovery yesterday after the Bank of England (BoE) maintained its policy Bank Rate at a 16-high of 5.24% for the fourth consecutive time as expected and toned down its prior hawkish rhetoric.
02-02-2024 02:32 GMT
by Kelvin Wong