Forex: All News & Analysis

GBP/USD drifting, UK employment report next

UK retail sales slide in September UK releases employment data on Tuesday The British pound is showing very limited movement on Monday. In the North American session, GBP/USD is trading at 1.2154, down 0.07% UK employment expected to slide The UK delayed has delayed the release of employment and unemployment data until Tuesday, after releasing wage growth last week.

23-10-2023 09:58 GMT by Kenneth Fisher

Japanese yen flirts with 150, PMIs next

USD/JPY briefly pushes below 150 Japan releases PMIs on Tuesday The Japanese yen is trading quietly on Monday. In the European session, USD/JPY is trading at 149.98, up 0.07%. The yen showed little movement last week, hovering just shy of the symbolic 150 line.

23-10-2023 07:05 GMT by Kenneth Fisher

GBP/USD - UK consumer activity cools in the run-up to the festive season

UK retail sales -0.9% in Setember (-0.3% expected) UK Gfk consumer confidence -30 in October (-20 expected) GBPUSD losing momentum near recent lows UK consumers are reining in spending in the run-up to the festive season and the latest survey from Gfk suggests it's not just the weather that's driving it. Retail sales fell 0.9% in September, far exceeding expectations of a 0.3% decline as unseasonably warm weather weighed on sales of Autumn clothing. While that's not a new phenomenon, weather is

20-10-2023 08:49 GMT by Craig Erlam

Canadian dollar calm ahead of retail sales

Canada to release retail sales later today Fed's Powell says inflation still too high, lower growth needed The Canadian dollar has edged higher on Friday. In the European session, USD/CAD is trading at 1.3688, down 0.23%.

20-10-2023 07:50 GMT by Kenneth Fisher

Japanese yen stays adrift, core CPI falls below 3%

Japanese core CPI falls below 3% Fed's Powell says inflation too high, economy too strong The Japanese yen is slightly lower on Friday. In the European session, USD/JPY is trading at 149.96, up 0.12%.

20-10-2023 05:00 GMT by Kenneth Fisher

Dollar declines extend post Powell, November is no longer live but future rate hikes still on table

Wall Street went on a mini rollercoaster ride during Fed Chair Powell's speech. Powell's comments were mostly in-line with other officials and support the belief that policy might not be "too tight" and future rate hikes may be needed. Powell's comments support their higher for longer mantra, but fell short of signaling a rate hike was likely in December. Until inflation is much lower, the Fed will try to jawbone the market into thinking more hikes are possible. Fed Chair Powell Key Quotes f

19-10-2023 13:27 GMT by Edward Moya

Dollar softens ahead of Fed Chair Powell's speech

Stocks earning driven rally supports risk assets USD softer against majority of trading partners Jobless Claims drop to lowest levels since January It’s dawning on Wall Street that despite a giant ‘wall of worry’, the Fed is probably going to have to resume raising rates. Fed fund futures are now leaning towards one more rate hike by the January FOMC decision. After another low jobless claims report, it is clear that the US economy remains resilient and is unlikely in a position to bring infla

19-10-2023 11:40 GMT by Edward Moya

Euro rises, US jobless claims drop

US unemployment claims drop below 200K ECB's Lagarde expresses concern over oil inflation The euro has bounced back on Thursday, erasing the losses from a day earlier. In the North American session, EUR/USD is trading at 1.0573, up 0.36%. The Middle East is back in the headlines as Israel and Hamas are engaged in fierce fighting.

19-10-2023 10:16 GMT by Kenneth Fisher

GBP/USD flat as retail sales eyed

US unemployment claims fall below 200K UK retail sales expected to improve to -0.1% The British pound is drifting on Thursday. In the North American session, GBP/USD is trading at 1.2142, almost unchanged. The UK inflation report on Wednesday was a stark reminder that inflation remains stubborn and sticky.

19-10-2023 09:30 GMT by Kenneth Fisher

Aussie slips on soft employment data

Australian employment falls sharply PBOC expected to maintain loan prime rates The Australian dollar has extended its losses on Thursday. In the North American session, AUD/USD is trading at 0.6312, down 0.37%. Australia's labour market had a disappointing September, with only 6,700 jobs created.

19-10-2023 07:45 GMT by Kenneth Fisher

GBP/JPY Technical – Impending bearish reversal

The GBP is the second weakest currency among the major US dollar pairs in the past five days. A potential bearish reversal set-up has emerged for GBP/JPY while the JPY bears seem to be cautious about Japan’s MoF intervention at around the 150.30 risk level on USD/JPY. Watch the key short-term resistance at 182.95 on the GBP/JPY. The UK pound sterling (GBP) is the second weakest currency among the major US dollar pairs based on a five-day rolling performance calculation at this time of the writi

19-10-2023 01:28 GMT by Kelvin Wong

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Podcast - Are Wall Street banks becoming to pessimistic with the euro, oil gains on wider war fears, Bitcoin volatility

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. Today they discuss the impact Middle East tensions are having with oil prices, sticky UK inflation, an overcrowded bearish bet against the euro on Wall Street, and spot Bitcoin ETF expectations.

18-10-2023 15:30 GMT by Edward Moya

USD/JPY: Dollar holds gains post 20-year auction and Beige Book

Two-year Treasury rises 0.7bps to 5.216%, 10-year higher by 7.2bps to 4.906%, and the 30-year gains 7.0bps to 4.995% Beige book sees US outlook as stable or slightly weaker Treasury market unraveled by growth in supply; today's auction saw surprisingly better demand The dollar is holding onto most of its gains as the surge in Treasury yields stalls after a historic bond market slide. A 20-year bond auction saw strong demand, bucking the tepid demand we saw last week. This auction was awarded

18-10-2023 15:15 GMT by Edward Moya

GBP/USD: King dollar trade remains as hot UK inflation is unable to give GBP a boost

Headline UK CPI inflation held steady at 6.7% vs 6.6% eyed; BOE rate hike odds rise to 60% for a quarter-point increase by the Feb 1st meeting Fed's Williams said interest rates will have to stay at restrictive levels “for some time” to bring inflation back down to the central bank’s 2% target. Fed's Waller can wait and gather more data before deciding if more rate hikes are needed The dollar is rising and US stocks are declining on soft earnings, rising rates, and as the risks grow for a poten

18-10-2023 13:02 GMT by Edward Moya

Euro slips as Eurozone inflation falls to 4.3%

Eurozone CPI confirmed at 4.3% Markets eye Fedspeak, with four FOMC members speaking today The euro is considerably lower on Wednesday. In the European session, EUR/USD is trading at 1.0525, down 0.48%. Eurozone inflation falls to 4.3% The inflation rate in the eurozone for September was confirmed at 4.3% y/y on Wednesday, down from 5.2% in August and the lowest since October 2021.

18-10-2023 12:27 GMT by Kenneth Fisher

AUD/USD edges lower, China data beats expectations

China's GDP beats expectations at 4.9% Australian job growth expected to fall The Australian dollar started the day higher but has reversed directions. In the North American session, AUD/USD is trading at 0.6357, down 0.13%. The US dollar has steamrolled the Aussie, which hasn't posted a winning week since September and dropped close to a one-year low last week.

18-10-2023 10:14 GMT by Kenneth Fisher

British pounds shrugs as CPI remains steady

UK CPI unchanged, core CPI ticks lower US retail sales hotter than expected The British pound is showing limited movement on Wednesday. In the European session, GBP/USD is trading at 1.2194, down 0.09%. UK CPI unchanged, core CPI ticks lower Today's UK inflation report showed little change from a month ago, a reminder that the battle to curb inflation will be a long one.

18-10-2023 07:39 GMT by Kenneth Fisher

EUR/AUD potential short-term downside pressure after upbeat China data

China’s Q3 GDP, Retail Sales, and Industrial Production for September beat expectations. China’s Country Garden is still at risk of an imminent default as its grace period of overdue bond coupon payments of US$15.4 million expires today. The FX market is ignoring the default risk of Country Garden as the offshore yuan (CHN) has continued to trade sideways against the US dollar since 28 September. The resilience of CNH against the US dollar has triggered a dissipating US dollar strength movement

18-10-2023 02:13 GMT by Kelvin Wong

USD/CHF: Two-year yield surges as the risks grow to the US outlook

Republican Jim Jordan does not have enough votes to be elected House speaker in the first round of floor voting. Risk aversion was the early trade as hot data fueled Fed rate hike bets Investors await key Chinese data that could alleviate global growth concerns USD/CHF been a tough trade over the last week as geopolitical concerns initially sent safe haven flows towards the franc, but resilient economic data prevented risk aversion from running wild. The movement with Treasury yields are drivi

17-10-2023 14:38 GMT by Edward Moya

EUR/USD: Dollar volatile as Treasury yields surge; parity calls grow

JPMorgan expects EUR/USD to test parity, down from prior 1.05 target Citibank is eyeing a move to parity within six months ING head of research sees euro-dollar parity as possible Rabobank, Nomura, and RBC are eyeing a euro decline to 1.02 by end of year Both the US dollar and stocks are lower as good news about the economy is once again bad news, since it will keep policymakers on the fence on delivering more tightening. Treasury yields are rising after a couple of strong economic releases abo

17-10-2023 12:19 GMT by Edward Moya

Forex: all news & analysis