Forex: All News & Analysis

Nikkei 225: Major bullish breakout from 7-month range with further potential upside in store

Nikkei 225 rallied to a 34-year high & outperformed the major US benchmark US stock indices year-to-date. Domestic demand-oriented sectors are the outperformers in the current bullish movement seen in the Japanese stock market. The USD/JPY is now having a negative correlation with the Nikkei 225. The sustainability of the current bullish tone seen in the Nikkei 225 is largely more dependent on Japan’s inflation growth outlook. This is a follow-up analysis of our prior report, “Nikkei 225 Techni

10-01-2024 04:17 GMT by Kelvin Wong

Euro edges lower after soft German data

German industrial production declines Atlanta Fed's Bostic says he expects two rate cuts in 2024 The euro has edged lower on Tuesday. In the North American session, EUR/USD is trading at 1.0928, down 0.20%. German industrial production declines The German locomotive continues to struggle as we start the New Year.

09-01-2024 12:37 GMT by Kenneth Fisher

Australian dollar falls despite solid retail sales

The Australian dollar is in negative territory on Tuesday. In the North American session, AUD/USD is trading at 0.6685, down 0.51%. Australian retail sales surge Australia's retail sales sparkled in November but the strong rebound wasn't reflected in the Australian dollar.

09-01-2024 11:31 GMT by Kenneth Fisher

EUR/USD Price Action - Technical Analysis

EURUSD continues its attempt to reverse back above the 1.1000 level but has been unsuccessful so far, the current trading range is critical, and any real breakout may help in forecasting future price action, we will go over a long-term as well as a short-term timeframe reflecting the current price action. Talking Points Weekly Chart - Longer Term Patterns overview 1-Hour Chart - Short Term and current price action Weekly Chart Price continues to trade below its ascending channel as identif

09-01-2024 10:08 GMT by Moheb Hanna

Japanese yen shrugs as Tokyo Core CPI slows

Tokyo Core CPI eases to 2.1% The Japanese yen has posted slight gains for a second straight day. In the European session, USD/JPY is trading at 144.10, down 0.09%. Tokyo Core CPI dips to 2.1% Tokyo Core CPI rose 2.1% y/y in December, down from 2.3% in November and matching the estimate of 2.1%.

09-01-2024 06:25 GMT by Kenneth Fisher

EUR/GBP Technical: Short-term relative weakness of EUR reasserts against GBP

Persistent underperformance of the EUR against GBP as the EUR/GBP cross pair reintegrated below the 200-day moving average. The hourly RSI momentum indicator of EUR/GBP has flashed out a bearish momentum condition. Watch the 0.8615 key short-term resistance with intermediate supports coming in at 0.8550 and 0.8500. In the long term, the EUR/GBP cross pair is still evolving within a major downtrend phase as depicted by its price actions’ oscillations within a descending channel in place since th

09-01-2024 05:16 GMT by Kelvin Wong

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Market Insights Podcast - Geopolitical risk uptick ahead of Taiwan Presidential Election with Tokyo, AU and US inflation on the radar next.

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic data and events; Taiwan Presidential Election this weekend which may trigger a geopolitical risk uptick that gave rise to the underperformance of the China and Hong Kong stock markets at the start of the week. Inflation data out in the US where a weakening in core CPI for December is likely to keep the Fed's dovish pivot alive, in turn, ignite another potential fresh downleg in US dollar weakness and ris

08-01-2024 21:48 GMT by Kelvin Wong

EUR/USD - Edging higher after bounce off key Fibonacci level

Euro area data points to further weakness in early 2024 Germany remains a concern amid weak factory numbers EURUSD higher but struggling around 1.10 It was a volatile end to the week for the dollar, with the jobs report initially causing a stir followed by the unexpectedly weak ISM services PMI. Today it's been Europe that's delivered a selection of data, albeit none quite as important as the two from the US on Friday. Retail sales for November were in line with expectations at -0.3% while the

08-01-2024 14:48 GMT by Craig Erlam

Australian dollar dips ahead of retail sales

The Australian dollar is coming off a rough week and is under pressure on Monday. AUD/USD was down as much as 0.50% earlier but has recovered these losses and is unchanged on the day at 0.6717. US nonfarm payrolls beat forecast US nonfarm payrolls, released on Friday, accelerated in December and beat the forecast.

08-01-2024 11:24 GMT by Kenneth Fisher

Canadian dollar shrugs off weak job numbers

Canada's employment growth falls close to zero US nonfarm payrolls hits 216,000 higher than expected USD/CAD has edged higher on Monday and is trading at 1.3387 in Europe, up 0.19%. There are no tier-1 releases out of the US or Canada today, so we can expect a quiet day for USD/CAD. The US dollar jumped out of the gates in the first week of 2024 and rose 0.83% against the Canadian dollar.

08-01-2024 07:50 GMT by Kenneth Fisher

USD/JPY edges lower ahead of Tokyo Core CPI

US nonfarm payrolls rise more than expected to 216,000 Tokyo Core CPI expected to ease to 2.1% The Japanese yen has started the week with slight gains and is trading at 144.39 in the European session, up 0.16%. It was a rough week for the yen, which declined 2.5% against the US dollar, which has looked sharp against most of the majors since New Year's. US nonfarm payrolls stronger than expected US nonfarm payrolls ended 2023 on a strong note.

08-01-2024 05:59 GMT by Kenneth Fisher

USD/JPY Technical: US dollar strength fizzled out ex-post US NFP

Last week’s broad-based US dollar strength has dissipated ex-post US non-farm payroll data with the continuation of its underperformance against the GBP. The US labour market has started to show growing slack where the labour force participation rate has dipped to 62.5%, its largest monthly decline in almost three years and full-time employment recorded its steepest drop since April 2020.

07-01-2024 23:13 GMT by Kelvin Wong

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Market Insights Podcast - US jobs report, eurozone inflation

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the US Jobs report, ISM survey and eurozone inflation data.

05-01-2024 17:18 GMT by Craig Erlam

USD/JPY - US jobs data a setback but no game changer

US NFP 216,000 (170,000 expected, 173,000 in November revised down from 199,000) Average hourly earnings (MoM) 0.4% (0.3% expected, 0.4% in November) USDJPY rebounds off key Fibonacci level The first US jobs report of the year was an early reminder to investors that things don't always go their way, despite the experience of the last couple of months. Whether it was just exuberant festive cheer or something more, investors bounced into the end of 2023 full of hope that not only is the tightenin

05-01-2024 12:15 GMT by Craig Erlam

Japanese yen extends losses ahead of nonfarm payrolls

Japanese yen continues to slide US nonfarm payrolls expected to ease to 170,000 The Japanese yen continues to lose ground and is down for a fourth straight day on Friday. In the European session, USD/JPY is trading at 145.14, up 0.36%. The US dollar took a nasty spill in December against the major currencies.

05-01-2024 07:46 GMT by Kenneth Fisher

EUR/USD slips, Eurozone inflation rises

Eurozone inflation rises, core rate dips US nonfarm payrolls expected to drop to 177,000 The euro is in negative territory on Friday. In the European session, EUR/USD is trading at 1.0908, down 0.33%. Eurozone inflation rises to 2.9% Eurozone inflation has been falling and dropped to 2.4% y/y in November, within striking distance of the 2% target.

05-01-2024 05:50 GMT by Kenneth Fisher

Canadian dollar eyes US, Canada jobs data

US nonfarm payrolls expected to fall to 177,000 Canada's employment change projected to drop to 13,500 The Canadian dollar is showing limited movement on Friday, but that could change in the North American session, when Canada and the US release the December employment reports. In the European session, USD/CAD is trading at 1.3363, up 0.10%. The Canadian dollar looked sharp in December, with gains of 2.27%.

05-01-2024 04:40 GMT by Kenneth Fisher

USD/JPY Technical: Countertrend USD rebound remains intact ahead of US NFP

The US dollar is the top performer against the JPY on a 5-day rolling basis (+3%). A monthly US NFP jobs gain of between +240K to +260K may ignite another bout of US dollar rally. Bullish momentum is supporting a potential extension of the ongoing countertrend rebound in USD/JPY. Watch the next intermediate resistance at 146.70/147.45

05-01-2024 02:17 GMT by Kelvin Wong

AUD/JPY Technical Analysis Overview - FX Pairs to Watch

Talking Points Weekly Chart Technical Analysis Short Term formation before Non-Farm Payroll Weekly Chart Price was trading within an uptrend that began mid-year 2020 and may still be in place, however, the trend acceleration pace slowed once the FED began raising Interest Rates in early 2022, and price action continued sideways failing to make new highs since then. Price found resistance multiple times near the RED Resistance line identified on the above weekly chart near level 98.00 The ov

05-01-2024 00:21 GMT by Moheb Hanna

GBP/USD rises on Services PMI, Construction PMI next

The British pound has edged higher on Thursday. In the North American session, GBP/USD is trading at 1.2698, up 0.27%. UK Services PMI beats expectations UK Services Final PMI was a bright note on Thursday.

04-01-2024 11:40 GMT by Kenneth Fisher

Forex: all news & analysis