Forex: All News & Analysis

EUR/GBP - ECB probably done hiking as the economy edges toward recession

Weak eurozone PMIs point to further economic deterioration UK data roughly in line but downside risks remain EURGBP threatens to break above range resistance It's been another mixed session on Tuesday with investors potentially eyeing important events later in the week. The PMIs across Europe earlier in the day didn't get things off to a great start and further backed the view that the region is heading for a recession if it isn't already in one.

24-10-2023 13:27 GMT by Craig Erlam

EUR/USD: King dollar is back on US economic exceptionalism

US October Flash Services PMI rose to 50.9 vs 49.9 expected, highest reading since July 2023 Eurozone October Flash Services PMI fell to 47.8 vs 48.6 eyed, lowest reading since Feb 2021 Eurozone October Flash PMI fell to 43.0 vs 43.7 eyed, 16th straight month of contraction The US dollar rose on both resilient economic data as non-tech earnings impress across the board. The US flash PMIs came in better-than-expected, clearly outperforming what we saw earlier from Europe. The data is vindicati

24-10-2023 12:47 GMT by Edward Moya

AUD/USD extends gains, employment report next

Australia's inflation expected to decline The Australian dollar has extended this week's gains. In the North American session, AUD/USD is trading at 0.6357, up 0.36%. Australia's inflation expected to continue falling Australia releases inflation on a quarterly basis, which magnifies the significance of each release.

24-10-2023 10:03 GMT by Kenneth Fisher

British pound edges lower as employment market cools

UK labour market cools UK Manufacturing and Service PMIs decline The British pound is slightly lower on Tuesday, after climbing 0.68% a day earlier. In the European session, GBP/USD is trading at 1.2218, down 0.23%. UK job growth, unemployment rises The UK has released "experimental" employment data on Tuesday, replacing the standard labour market survey due to falling response rates.

24-10-2023 08:03 GMT by Kenneth Fisher

MKPW-0016-Podcast-Thumbnail-Purple-–-1600x1600-1.png

Podcast - ECB's upcoming rate pause, AU and US inflation data to monitor

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss several key highlights and events for this week; ECB monetary policy meeting (consensus is expecting a pause on interest rates in the Eurozone after ten consecutive rate hikes), Australia's Q3/monthly (Sep) inflation data, and US PCE inflation data (Sep). https://open.spotify.com/episode/3U27ENSLyHyLSVjYD6Vntn

24-10-2023 04:39 GMT by Kelvin Wong

Japanese yen shrugs after PMI releases

Japanese PMI point to softness in manufacturing and services Speculation rises that BoJ could tweak yield control policy The Japanese yen has edged higher on Tuesday. In the European session, USD/JPY is trading at 149.44, down 0.18%. Japan posts soft PMIs Japanese Flash PMIs for October failed to impress, but the impact on the Japanese yen was muted.

24-10-2023 04:28 GMT by Kenneth Fisher

USD/JPY bullish momentum seems to be fading

USD/JPY’s current year-to-date outperformance has started to dissipate based on a shorter-term one-month rolling basis. A disappointing Japan Services PMI (flash) for October has failed to ignite an intraday bullish movement in USD/JPY. Three main factors that are likely to be the cause; intervention risk, inter-market expectations, and momentum. Watch the key 20-day moving average on the USD/JPY, now acting as support at 149.30. The major uptrend phase of the USD/JPY in place since mid-January

24-10-2023 02:27 GMT by Kelvin Wong

BTC/USD: Is Bitcoin Back?

Bitcoin hits $31,000, highest levels since July Michael Saylor's MicroStrategy Bitcoin position turns positive (average $29,582 purchase price) Major bond market yield reversal keeps cryptos broadly supported (Eth up 3.4%, Solana up 2.4%, and Dogecoin up 4.9%) Bitcoin is rallying alongside tech stocks as the bond market has a major reversal. Today's rally that took prices to a three-month high is not about spot Bitcoin ETF optimism but about a significant reversal in the dollar and 10-year Tre

23-10-2023 14:57 GMT by Edward Moya

EUR/USD: Dollar drops as Treasury yields reverse initial surge to 5.00%

10-year Treasury tested 5.00% for the first time since 2007 This latest bond market selloff could lead to a harder-hitting economic slowdown Strategists don't believe the recent data support this bond market move; strong buying emerged once yields hit 5.00% Wall Street is trying to understand how the US economy will be able to deliver a soft landing as Treasury yields trade at cycle highs. A fourth quarter slowdown is here but that is only happening from a high baseline, which will probably be

23-10-2023 13:26 GMT by Edward Moya

Euro extends rally, German and Eurozone PMIs next

Euro rally continues Germany, eurozone PMIs to be released on Tuesday The euro has started the week with strong gains and has pushed above the 1.06 line. In the North American session, EUR/USD is trading at 1.0624, up 0.45%.

23-10-2023 13:24 GMT by Kenneth Fisher

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

Forex: all news & analysis