UK GDP flat in third quarter
The British pound is steady on Friday. In the European session, GBP/USD is trading at 1.2219, down 0.02%.
10-11-2023 05:07 GMT
by Kenneth Fisher
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The recent slide of -170 pips seen in the AUD/USD from Monday, 6 November high of 0.6520 has reached a key inflection zone.
The latest higher level of inflation forecasts in Australia by the RBA may put a pause on the current minor corrective decline seen in the AUD/USD.
Short-term technical elements have turned positive for a potential bullish reversal scenario for the AUD/USD.
Watch the 0.6330 key short-term support and 0.6400 potential upside trigger level for the AUD/USD.
This is a follow-u
10-11-2023 00:02 GMT
by Kelvin Wong
UK GDP expected to decline
The British pound is showing little movement on Thursday. In the North American session, GBP/USD is trading at 1.2276, down 0.07%.
Markets brace for contraction in GDP
The UK economy has been struggling and Friday's GDP is expected to indicate negative growth, with a market consensus of -0.1% q/q for the third quarter.
09-11-2023 11:50 GMT
by Kenneth Fisher
EURUSD is continuing to trade in a rising channel formation, reminiscent of a bearish flag given the trend that preceded it but recent signs may suggest it's not that straightforward.
The first thing worth noting is that the bearish flag formation isn't ideal in that the sell-off that makes up the pole element isn't particularly sharp and the time it's traded in the flag is a little long.
That said, it can still be argued to be a bearish setup. But what we've seen over the last week is arguabl
09-11-2023 11:10 GMT
by Craig Erlam
China inflation misses estimate
NZ manufacturing PMI expected to decline
The New Zealand dollar is in positive territory on Thursday. In the European session, NZD/USD is trading at 0.5926, up 0.26%.
NZ Manufacturing PMI expected to decelerate slightly
New Zealand's manufacturing sector has been in decline for seven consecutive months and little change is expected from the October PMI, which will be released on Friday.
09-11-2023 08:22 GMT
by Kenneth Fisher
China's inflation misses estimate
RBA to release monetary policy statement on Friday
The Australian dollar is unchanged on Thursday and is trading at 0.6401. This follows a three-day slide, in which AUD/USD has fallen 1.7%.
RBA Monetary Policy Statement eyed
The Reserve Bank of Australia will release its quarterly monetary policy statement on Friday.
09-11-2023 06:29 GMT
by Kenneth Fisher
BoE's Bailey says no plan to cut rates
The British pound has edged lower on Wednesday. In the North American session, GBP/USD is trading at 1.2287, down 0.10%.
08-11-2023 11:12 GMT
by Kenneth Fisher
Eurozone retail sales decline by 2.9%
The euro is down on Wednesday, after a two-day losing streak. In the European session, EUR/USD is trading at 1.0675, down 0.23%.
Eurozone retail sales slide
The eurozone economy has been sputtering, so it's no wonder that consumers are in a sour mood and holding tight on the purse strings.
08-11-2023 06:59 GMT
by Kenneth Fisher
Inflation expectations ease to a two-year low
The New Zealand dollar is slightly lower on Wednesday. In the European session, NZD/USD is trading at 0.5924, down 0.19%.
NZ inflation expectations dip
New Zealand's inflation rate has been dropping, albeit slowly.
08-11-2023 05:49 GMT
by Kenneth Fisher
RBA hikes and signals it's now data-dependent
Inflation remains a challenge despite already high rates
AUDUSD fails to breakout but momentum remains
The RBA today ended a series of four rate pauses and hiked by another 25 basis points.
The fact that it's needed to hike again after such a long time highlights how difficult central banks are finding it to get inflation under control and how much more difficult this last stage may prove than hoped.
07-11-2023 15:48 GMT
by Craig Erlam
German Industrial Production declines
Fed's Powell will make public remarks on Wednesday
The euro is in negative territory for a second straight day. In Tuesday's North American session, EUR/USD is trading at 1.0684, down 0.31%.
German Industrial Production declines 1.4%
Germany's industrial production slipped 1.4% m/m in September, following a downwardly revised -0.1% reading in August and well shy of the market consensus of -0.1%.
07-11-2023 12:14 GMT
by Kenneth Fisher
New Zealand dollar sharply lower
RBA raises rates but Australian dollar slides
Chinese exports decline
The New Zealand dollar is down sharply on Tuesday. In the North American session, NZD/USD is trading at 0.5927, down 0.61%.
07-11-2023 11:08 GMT
by Kenneth Fisher
RBA raises rates but eases tightening bias
Australian dollar slides over 1%
The Australian dollar has recorded massive losses on Monday. In the European session, AUD/USD is trading at 0.6422, down 1.05%.
07-11-2023 07:24 GMT
by Kenneth Fisher
AUD/USD Technical: RBA hike has already been priced in, minor corrective decline in progress
RBA hiked the official cash rate by 25 bps to 4.35% as expected.
Revised up slightly projected year-end 2024 Australia CPI inflation to be around 3.5% from 3.25% previously forecasted in August.
AUD/USD has declined by -64 pips intraday from yesterday, 6 November high of 0.6523.
Short-term momentum has turned bearish as depicted by the hourly RSI.
06-11-2023 23:24 GMT
by Kelvin Wong
OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss several key highlights and events for this week; a hawkish RBA resurgence and its implications on the AUD/USD, China's deflationary spiral risk, and all ears on Fed speak from Powell on the clarity on the pace and start of interest rate cuts in US.
https://open.spotify.com/episode/25yapp1dEbC1H5MVUWYhyM
06-11-2023 19:19 GMT
by Kelvin Wong
UK Construction PMI continues to decline
British pound soars on soft US nonfarm payrolls
The British pound is steady at the start of the week. In the North American session, GBP/USD is trading at 1.2396, up 0.14%.
UK Construction PMI declines
UK Construction PMI declined for a second straight month in October, with a reading of 45.6.
06-11-2023 11:48 GMT
by Kenneth Fisher
AUD/USD climbs after soft US nonfarm payrolls
RBA rate decision a 50/50 toss-up
The Australian dollar has edged lower on Monday, after huge gains on Friday. In the North American session, AUD/USD is trading at 0.6499, down 0.21%.
On Friday, the Aussie posted spectacular gains, rising 1.22% and hitting its highest level since August 10th.
06-11-2023 10:45 GMT
by Kenneth Fisher
OANDA Senior Market Analyst Craig Erlam discusses the latest moves in EURUSD in light of the Fed meeting and US jobs report.
06-11-2023 07:01 GMT
by Craig Erlam
Yen improves after soft US nonfarm payrolls
BOJ September minutes indicated members saw no need to tweak YCC
The Japanese yen is steady on Monday. In the European session, USD/JPY is trading at 149.66, up 0.20%.
US nonfarm payrolls cements pause in December
US nonfarm payrolls fell to 150,000 in October, down from a downwardly revised 297,000 in September and shy of the consensus estimate of 170,000.
06-11-2023 06:33 GMT
by Kenneth Fisher
The latest set of lacklustre US non-farm payrolls and ISM Services PMI data for October has reinforced further US dollar weakness.
The narrowing of the 2-year US Treasury yield over the 2-year China sovereign bond has negated the current major downtrend of the offshore yuan (CNH) against the US dollar.
A further breakdown below 7.2675 on the USD/CNH may trigger a potential tactical multi-month up moves in China and Hong Kong equities.
In the past week, the medium-term uptrend of the US dollar
06-11-2023 00:16 GMT
by Kelvin Wong