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Forex: all news & analysis

Explore our comprehensive Forex Archive, an essential resource that provides expert insights on price movements, trends, and the currency market. By analysing past price actions and key events, you can uncover vital market dynamics and elevate your understanding of effective trading strategies. Whether you're focusing on major currency pairs or emerging markets, our archive is packed with information to help you sharpen your trading decisions.

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USD/JPY: JPY plummeted, ignoring the possibility of a more hawkish BoJ
The recent rally of USD/JPY has ignored fundamentals (biggest Japanese wage hike in 33 years) and hawkish BoJ news flows. The current bear-steepening trajectory seen in JGB yield curves may indicate mispricing of the recent bout of JPY weakness. Watch the key short-term resistance of 149.50 on the USD/JPY as BoJ’s monetary decision outcome looms tomorrow, 19 March. This is a follow-up analysis of our prior report, “USD/JPY: All eyes on Japan's core-core inflation tomorrow” dated 26 Februar
18-03-2024 03:01 GMT by Kelvin Wong
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Euro stabilizes, ECB starts talking rate cuts
The euro is steady on Friday, after sustaining sharp losses a day earlier due to the US inflation report. In the North American session, EUR/USD is trading at 1.0893, up 0.09%. ECB members signal rate cuts coming The European Central Bank maintained the deposit rate at 4.0% for a fourth straight time at last week’s meeting.
15-03-2024 09:35 GMT by Kenneth Fisher
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NZ dollar extends losses after Mfg. PMI contraction
The New Zealand dollar continues to lose ground and has dropped more than 1% since Wednesday. In the European session, NZD/USD is trading at 0.6094, down 0.59%. NZ Manufacturing PMI declines for 12th straight month New Zealand’s manufacturing industry marked an unhappy anniversary on Friday as the sector contracted for a twelfth straight month (a PMI reading below 50 indicates contraction and above 50 indicates expansion).
15-03-2024 07:01 GMT by Kenneth Fisher
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USD/JPY rises, all eyes on BoJ after wage deal
The Japanese yen has extended its losses against the US dollar for a fourth straight day and is down 1.1% this week. In the European session, USD/JPY is trading at 148.70, up 0.28%. Japanese unions win big, BoJ considering rate hike Japan’s largest trade union announced today that workers at Japan’s largest firms would receive a 5.28% salary raise, a huge victory for workers.
15-03-2024 05:23 GMT by Kenneth Fisher
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USD/JPY calm ahead of US retail sales
The Japanese yen is drifting on Wednesday. In the European session, USD/JPY is almost unchanged at 147.77. It’s a busy day in the US, with the release of retail sales, the producer price index and unemployment claims.
14-03-2024 07:06 GMT by Kenneth Fisher
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Aussie edges higher despite business confidence decline
The Australian dollar remains close to the 0.66 line, where it has been for most of the week. In the North American session, AUD/USD is trading at 0.6620, up 0.21%. NAB Business Confidence edges down to zero The business sector is not feeling very confident about the near-term outlook of the Australian economy.
13-03-2024 11:25 GMT by Kenneth Fisher
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GBP/USD shrugs as UK economy shows slight growth
The British pound is drifting on Wednesday. In the European session, GBP/USD is trading at 1.2784, down 0.06%. UK GDP expands 0.2% in January It wasn’t a spectacular rebound but the UK economy showed some slight improvement, with GDP rising 0.2% m/m in January.
13-03-2024 08:34 GMT by Kenneth Fisher
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CHF/JPY Technical: Potential major bullish trend exhaustion
The recent significant increase of a total of 20 bps in the 2-year JGB yield since the start of the year has come in line with the highly anticipated rosy results of the annual wage negotiations in Japan. In the past week, the JPY crosses have come under downside pressure as the carry trade strategy loses its appeal. Watch the 168.75 key short-term resistance on the CHF/JPY. The JPY crosses have continued to face downside pressure in the recent week ahead of key related risk events such as the
13-03-2024 02:14 GMT by Kelvin Wong
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EUR/JPY Price Forecast - Technical Analysis Outlook
Next week, markets await the Bank of Japan’s policy rate, monetary policy statement, and press conference, market participants are speculating whether the BOJ will raise interest rates for the first time since 2007. Last week, the Yen appreciated by 1.85% against the Euro, as EURJPY dropped from a high of 163.56 to a low of 160.57 as rate speculation began.
12-03-2024 06:23 GMT by Moheb Hanna
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GBP/USD loses ground on soft employment report
The British pound has extended its losses on Tuesday. In the European session, GBP/USD is trading at 1.2799, down 0.26%. UK job market slows down The UK labor market has remained resilient despite elevated interest rates but is showing signs of cracks, based on today’s employment release. The unemployment rate rose to 3.9% in the three months to January, up from 3.8% in the three months to December and above the market estimate of 3.8%.
12-03-2024 05:44 GMT by Kenneth Fisher
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Market Insights Podcast - US CPI, Michigan Consumer Confidence and Japan’s wage negotiations results looms
OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic data and events. The primary focus will be on the US CPI data for February out on Tuesday (12 March) and the preliminary wage negotiations result for FY 2024/2025 from Japan's largest union group, Rengo on Friday (15 March). The consensus is calling for a moderation of the US inflationary trend where the core-CPI data for February is expected to slow down slightly to 3.7% y/y from 3.9% y/y in January.
11-03-2024 22:54 GMT by Kelvin Wong
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EUR/USD Technical: At risk of minor mean reversion decline as US NFP looms
EUR/USD has evolved into a short-term uptrend phase as it traded back above its 20-day and 50-day moving averages in the past two days. Yesterday’s swift upmove of +89 pips ex-post ECB increases the risk of a minor mean reversion decline for the EUR/USD. The consensus estimate for today’s US NFP is pegged at a relatively low expectation of 200K jobs added for February below 353K added in January. Watch the 1.0970 key short-term resistance on the EUR/USD
08-03-2024 05:12 GMT by Kelvin Wong
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AUD/USD surges despite soft GDP data
The Australian dollar has posted strong gains on Wednesday despite a weak GDP report today. In the North American session, AUD/USD is trading at 0.6562, up 0.90%. Australian GDP posts weak gain of 0.2% Australia’s economy ended 2023 on whimper rather than a gain, as GDP rose just 0.2% q/q the fourth quarter.
06-03-2024 11:22 GMT by Kenneth Fisher
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NZD/JPY Technical: Failure bullish breakout indicates potential softness (JPY strength) ahead
3 key risk events that may significantly influence the movement of NZD/JPY; Japan’s FY 2024/2025 annual wage negotiations preliminary results (15 March), BoJ’s monetary policy outcome (19 March) & Fed FOMC and release of its latest dot plot (20 March). Technical analysis has indicated a potential medium-term bearish momentum on sight for NZD/JPY. Watch the key short-term resistance of 92.00 for NZD/JPY. This is a follow-up analysis of our prior report, “NZD/JPY: JPY crosses under downside press
06-03-2024 01:25 GMT by Kelvin Wong
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