OANDA Senior Market Analyst Craig Erlam discusses EURUSD on the back of the FOMC minutes and ahead of the first US jobs report of 2024.
04-01-2024 11:30 GMT
by Craig Erlam
Forex: all news & analysis
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Fed uncertain as timing of rate cuts
German CPI rises, but core rate falls
The euro has edged higher on Thursday. In the European session, EUR/USD is trading at 1.0950, up 0.26%.
Fed unclear on rate cut timing
The December policy meeting was highly significant as the Fed made a major pivot.
04-01-2024 09:01 GMT
by Kenneth Fisher
The Australian dollar has steadied on Thursday and is trading at 0.6732 in the European session, up 0.02%. This follows a four-day slide in which the Aussie fell 1.6%.
04-01-2024 06:04 GMT
by Kenneth Fisher
Stocks pare gains at the start of the year
JOLTS data points to less heat in the labor market
Dow turns lower after a period of divergence
Stock markets are spending a second day in the red, continuing the softer start to the year as traders await minutes from the December FOMC meeting.
Given the remarkable end to 2023, it's not particularly surprising that we're seeing a little profit-taking at this stage.
03-01-2024 13:20 GMT
by Craig Erlam
The Australian dollar is down for a fourth straight day and has posted sharp losses on Wednesday. In the North American session, AUD/USD is trading at 0.6719, down 0.62%.
The last week of the year was subdued as the data calendar was light.
03-01-2024 11:15 GMT
by Kenneth Fisher
The British pound is steady on Wednesday after sharp losses a day earlier. In the European session, GBP/USD is trading at 1.2632, up 0.11%.
UK Services PMI expected to accelerate
UK Services PMI will be released on Thursday.
03-01-2024 08:35 GMT
by Kenneth Fisher
Euro slips to two-week low
US ISM Manufacturing PMI expected to rise slightly
FOMC minutes to be released later on Wednesday
Germany, Eurozone to release CPI on Thursday
The euro has steadied on Wednesday after sustaining sharp losses a day earlier. In the European session, EUR/USD is trading at 1.0932, down 0.08% and its lowest level since December 21.
The US dollar has been struggling in recent weeks but came flying out of the gates on Tuesday, the first trading day of the New Year.
03-01-2024 05:46 GMT
by Kenneth Fisher
Medium-term uptrend phase from 26 October 2023 remains intact.
6240 is the potential bullish inflection level.
Hourly RSI has flashed a bullish momentum breakout condition.
The Kiwi (NZD/USD) has been oscillating within a medium-term uptrend phase in place since 26 October 2023 low of 0.5774. So far, it has rallied by +596 pips/+10.3% to print a recent intraday high of 0.6370 on 28 December 2023.
There were two prior minor pullbacks seen within this ongoing medium-term uptrend; 3 November 2023
03-01-2024 00:31 GMT
by Kelvin Wong
The British pound has started the New Year with sharp losses. In the North American session, GBP/USD is trading at 1.2626, down 0.82%.
UK Manufacturing PMI eases lower
The UK manufacturing sector remains in the doldrums.
02-01-2024 09:07 GMT
by Kenneth Fisher
Euro slips below 1.10 line
German and eurozone manufacturing PMIs contract
The euro is down sharply on Tuesday. In the European session, EUR/USD is trading at 1.0969, down 0.62%.
02-01-2024 07:07 GMT
by Kenneth Fisher
The medium-term downtrend phase of USD/JPY in place since the 15 November 2023 high has reached a potential inflection level at 140.25.
A potential countertrend corrective rebound scenario may unfold next.
Watch the first immediate resistance zone at 142.85/143.40.
This is a follow-up analysis of our prior report, “USD/JPY Technical: JPY strength remains intact ahead of BoJ” published on 19 December 2023. Click here for a recap.
The price actions of USD/JPY have plummeted lower as highlighted
02-01-2024 05:19 GMT
by Kelvin Wong
China Caixin Manufacturing posts slight growth
The Australian dollar is in positive territory on Tuesday. In the European session, AUD/USD is trading at 0.6826, up 0.22%.
The week between Christmas and New Year's was subdued in the currency markets.
02-01-2024 04:49 GMT
by Kenneth Fisher
Auld Lang Syne to 2023 and welcome 2024! Here is a recap of the key highlights that shocked global markets in 2023 and the potential emerging themes to look out for in 2024 as well as my “Chart Of The Year”.
2023 key highlights & cross-assets performances in the past 2 years
Fig 1: Cross assets performances as of 29 Dec 2023 (Source: TradingView, click to enlarge chart)
The US Federal Reserve’s stance of keeping interest rates higher for a longer period in the first half of 2023 triggered a r
02-01-2024 02:47 GMT
by Kelvin Wong
The Japanese yen is slightly lower on Friday. In the European session, USD/JPY is trading at 141.75, up 0.27%.
The US dollar has taken a tumble in recent weeks against most of the major currencies, including the yen.
29-12-2023 06:34 GMT
by Kenneth Fisher
Chicago PMI expected to decelerate
China releases PMIs on Saturday
The New Zealand dollar is in negative territory on Friday. In the European session, NZD/USD is trading at 0.6308, down 0.37%.
The US dollar has hit a rough patch lately and retreated against most of the majors.
29-12-2023 05:22 GMT
by Kenneth Fisher
Spanish CPI lower than expected at 3.1%
Chicago PMI expected to decelerate to 51.0
The euro is calm in Friday trade. In the European session, EUR/USD is trading at 1.1053, down 0.08%.
Spanish CPI dips to 3.1%
Spain released the December inflation report today, with CPI dipping to 3.1% y/y, down from 3.2% in November.
29-12-2023 04:16 GMT
by Kenneth Fisher
Thursday: US unemployment claims rise unexpectedly
Friday: Spanish CPI projected to accelerate
The euro has edged lower on Thursday. In the North American session, EUR/USD is trading at 1.1079, down 0.25%.
28-12-2023 11:33 GMT
by Kenneth Fisher
China releases PMIs on Saturday
The Australian dollar has edged lower on Thursday. In the European session, AUD/USD is trading at 0.6833, down 0.21%.
28-12-2023 07:13 GMT
by Kenneth Fisher
Japanese retail sales climb but industrial production declines
Japanese yen rises sharply
The Japanese yen has posted sharp gains on Thursday. In the European session, USD/JPY is trading at 140.66, down 0.82%.
Japanese retail sales beat forecast
Japanese releases were a mixed bag today.
28-12-2023 05:20 GMT
by Kenneth Fisher
Euro climbs sharply as risk appetite rises
US Richmond Manufacturing Index falls
The euro has posted strong gains on Wednesday. In the North American session, EUR/USD is trading at 1.1121, up 0.72%.
Euro climbs on risk-on mood
The US dollar is under pressure this week as we're seeing a risk-on mood in global markets.
27-12-2023 11:38 GMT
by Kenneth Fisher