Forex: All News & Analysis

USD/CNH: Time to start paying attention to the yuan again

CNH (offshore yuan) eyes 2023 lows as property sector concerns drive contagion fears China's top Wealth Manager misses payment Country Garden suspends trading on onshore bonds The offshore yuan is becoming a trade that more people are starting to pay attention to on Wall Street. The outlook for China is turning rather bleak and that has made the yuan short an easy trade for some traders. China was expected to hit 5% growth this year and that still could happen even with the property sector wei

14-08-2023 11:25 GMT by Edward Moya

Japanese yen hits 9-month low

Japanese yen dips below 145 line Japan's GDP expected to expand by 3.2% US retail sales projected to rise by 0.4% The Japanese yen continues to slide. USD/JPY touched the symbolic 145 line on Friday and has moved higher on Monday.

14-08-2023 10:26 GMT by Kenneth Fisher

GBP/USD steady ahead of jobs data

UK wages expected to accelerate by 7.9% US retail sales projected to rise 0.4% The British pound is quiet at the start of the week. In the European session, GBP/USD is trading at 1.2701, up 0.05%. UK wage growth expected to jump The UK releases key employment numbers on Tuesday and the data is expected to show that the UK labour market remains tight.

14-08-2023 07:46 GMT by Kenneth Fisher

Aussie under pressure ahead of wage growth release

Australian dollar extends losses Australia's wage growth expected to rise Chinese Industrial Production projected to remain unchanged The Australian dollar started the week by dropping 50 basis points but has recovered most of these losses. In the European session, AUD/USD is trading at 0.6488, down 0.12%. It has been a rough ride lately for the Australian dollar.

14-08-2023 05:06 GMT by Kenneth Fisher

USD/JPY Technical: Lethargic bulls below 145.50

USD/JPY’s two weeks rally ex-post BoJ’s flexible YCC implementation has almost reached a key resistance zone of 145.50/146.10. Rising of concerns about another bout of verbal FX interventions from Ministry of Finance officials to talk down the USD/JPY at around the 145.00 psychological level. Short-term momentum has turned bearish, risk of downside mean reversion towards the 20-day moving average now acting as support at 141.85. The ex-post effect of Bank of Japan (BoJ)’s flexible 10-year Japa

14-08-2023 03:25 GMT by Kelvin Wong

Week Ahead - A busy week ahead! FOMC minutes, US retail sales, UK Jobs/CPI, RBNZ Decides and Japan GDP/CPI

US With Wall Street very confident that the Fed won’t be raising rates in September, the focus shifts to how strong is the economy and whether it is too robust and if that could sparking fear that inflation might reaccelerate. The economic data starts on Tuesday with a July retail sales report that should show spending picked up from a month ago, which was boosted by Amazon’s Prime Day. Also on Tuesday is the Empire manufacturing report which should show August activity remains weak and t

11-08-2023 15:12 GMT by Edward Moya

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Video - GBP/USD buoyed by US and UK data

OANDA Senior Market Analyst Craig Erlam discusses the latest moves in GBPUSD in light of the GDP data from the UK and inflation numbers from the US.

11-08-2023 11:36 GMT by Craig Erlam

GBP/USD - UK economy beats expectations in Q2, US PPI stronger but not a concern

UK economy grew 0.5% in June, 0.2% in Q2 (QoQ) US headline and core PPIs rose 0.3% last month, more than expected GBPUSD steady near major support zone The UK economy showed further resilience toward the end of the second quarter, buoyed by better weather. The cost-of-living crisis has clearly been an immense drag on the economy and due to its nature, will have hit some households much harder than others. But overall, consumer activity has been very resilient which has ultimately stopped the ec

11-08-2023 10:52 GMT by Craig Erlam

Dollar pares losses after hotter-than-expected PPI

US PPI posts first gain in three months (last month revised to a flat reading) Dollar eyes a fourth week of strength 10-year Treasury rises 2.9bps to 4.135%; November rate hike odds rise to 26.3% The dollar pared losses after supplier inflation in July came in mostly hotter-than-expected. Hold your horses on calls that the Fed is done raising rates. This was a notable increase for producer prices and that could very well keep the risk of a November Fed rate hike on the table. The producer-pr

11-08-2023 09:58 GMT by Edward Moya

Japanese yen knocking on the 145 door

US CPI accelerates to 3.2% US PPI climbs 0.7% The Japanese yen is trading quietly on Friday. In the European session, USD/JPY is trading at 144.82, up 0.07%.

11-08-2023 09:07 GMT by Kenneth Fisher

New Zealand dollar poised to break below key 0.60 level

The New Zealand dollar has extended its slide for a fourth straight day. In the European session, NZD/USD is trading at 0.6005, down 0.26%.

11-08-2023 07:05 GMT by Kenneth Fisher

British pound edges higher after GDP surprise

UK GDP rises 0.2% US inflation accelerates by 3.2% The British pound is slightly higher earlier on Friday. In the European session, GBP/USD is trading at 1.2706, up 0.24%. UK GDP surprises to the upside The week wrapped up on a high note in the UK, as the economy grew by 0.2% q/q in the second quarter.

11-08-2023 05:08 GMT by Kenneth Fisher

While the yen weakens again towards 145 against the dollar, EUR/JPY rises to highest levels since 2008

Japan last intervened in October when dollar-yen prices were at 150 Fed rate hike odds fall to 10% for the September 20th meeting Japan's material inflation data continues fell to 3.6% from a year earlier, lowest reading since March 2021 The dollar weakened against most of its major trading partners after soft inflation data supported the Fed's case to keep rates on hold in September. Yen traders watched global stocks surge, which put a dent in demand for safe-havens. Dollar-yen is now rallyi

10-08-2023 12:15 GMT by Edward Moya

GBP/USD dips lower as US inflation rises

US inflation accelerates by 3.2% UK GDP expected to rise 0.1% in Q2 The British pound showed some strength earlier but reversed directions and lost ground after the US inflation report. In the North American session, GBP/USD is trading at 1.2725, up 0.05%. US headline CPI rises, core rate ticks lower The US inflation report was somewhat of a mix, but most important was that both headline and core inflation were within expectations.

10-08-2023 11:55 GMT by Kenneth Fisher

Dollar drops as inflation continues to cool; Fed September skip confirmed

Dollar falls as Fed rate hike odds soften to 10% for September and 20.2% in November US Annual CPI rose from 3.0% in June to 3.2% in July, snapping a streak of 12 consecutive declines Core CPI (ex-food/energy) fell to 4.7% year-over-year, lowest reading since October 2021 No surprises from the July CPI report After a roughly in-line inflation report, Wall Street remained optimistic that the Fed won’t need to raise rates in September. Headline inflation rose but that was mainly due to the large

10-08-2023 09:29 GMT by Edward Moya

Euro pushes higher ahead of US inflation report

US inflation is expected to rise to 3.3% ECB singing a dovish tune ahead of the September meeting The euro has climbed higher on Thursday. In the European session, EUR/USD is trading at 1.1020, up 0.43%.

10-08-2023 07:16 GMT by Kenneth Fisher

AUD/USD rebounds as inflation expections dip

Australia's inflation expectations ease US inflation is expected to rise to 3.3% The Australian dollar is in positive territory on Thursday. In the European session, AUD/USD is trading at 0.6552, up 0.37%. Australian inflation expectations ease Australia's consumer inflation expectations dipped in August to 4.9%, down from 5.3% in July.

10-08-2023 05:13 GMT by Kenneth Fisher

USD/JPY higher on strong demand for 10-year notes; Commodities diverge

Thursday's inflation report to seal the deal for a Fed hold in September Treasury sells 10-year notes with strong demand as yields drop China deflation raises prospects of more stimulus USD/JPY rose after a strong auction signaled that Wall Street is very confident that inflation will continue to fall. It looks like investors will gladly be eating all the extra issuance that comes from the Treasury.

09-08-2023 15:44 GMT by Edward Moya

EUR/USD: Euro steadies after Italy curtails windfall tax and ahead of US CPI

Italy cushions windfall tax blow China deflation to spark stimulus efforts US five-year inflation breakeven nears peak set in April 2022 Yesterday, the euro took a big hit after Italian Premier Meloni’s cabinet approved a 40% levy on lenders’ extra profits. Today was all about damage control as the Italian government had to tweak and ease up this crushing windfall tax on banks. The initial tax plan crushed the European banking sector, but that might see some relief now that the finance ministr

09-08-2023 10:18 GMT by Edward Moya

British pound flat on light data calendar

US inflation expected to rise to 3.3% UK GDP projected to fall to 0% Fed member Harker says rates may have peaked The British pound has had a relatively quiet week. In the North American session, GBP/USD is trading at 1.2731, down 0.13%. Markets eye US inflation, British GDP It has been a quiet week on the data calendar, with no tier-1 events out of the UK or the US.

09-08-2023 10:07 GMT by Kenneth Fisher

Forex: all news & analysis