Forex: All News & Analysis

USD/JPY: Surging Treasury yields bring back the pressure onto Japanese officials

Dollar holds onto gains as projected rate hike bets hold firm Treasury 30-year auction sees soft demand as concerns grow over rising deficits Yen's October rally nearly completely erased as US growth exceptionalism remains in place The BOJ must be frustrated that the yen's rally at the start of the month has quickly evaporated. Pressure is growing for the Japanese officials to act otherwise, the yen could see another significant devaluation. Last night, Bank of Japan board member Noguchi note

12-10-2023 14:24 GMT by Edward Moya

NZD/USD sinks after US CPI report, NZ Mfg. Index next

US CPI unchanged, core CPI declines NZD/USD falls 1.2% New Zealand to release Mfg. Index on Friday The New Zealand dollar is sharply lower on Thursday.

12-10-2023 12:23 GMT by Kenneth Fisher

EUR/USD: Hot US CPI and Claims data send Treasury yields and the dollar higher

Treasury curve rises across the board; 2-year rises 9.7bps to 5.079%, 5-year higher by 10.3bps to 4.680%, the 10-year increases by 10.3bps 4.662%, and the 30-year jumped 10.5bps to 4.799% Sticky inflation and steady claims send USD higher against all its major trading partners; yen only 20+ pips away from 150 Fed fund futures are not ready to abandon the possibility of one more interest rate hike The dollar is rallying as US stocks are lower after hot inflation and claims data kept the risk of

12-10-2023 11:43 GMT by Edward Moya

Australian dollar drifting ahead of US inflation report

US CPI expected to ease US PPI surprised to the upside The Australian dollar is showing limited movement on Thursday. AUD/USD is trading at 0.6410 in the European session, down 0.05%. All eyes are on US consumer inflation, which will be released later today.

12-10-2023 06:49 GMT by Kenneth Fisher

AUD/JPY Technical – Recent two weeks of rebound at risk of bearish reversal

+297 pips of rebound seen in AUD/JPY from 3 October 2023 low of 93.06 has reached a key short-term resistance zone of 95.70/96.00. The up move from 10 October to 12 October 2023 has been accompanied by a weakening of upside momentum as indicated by the hourly RSI. Watch the near-term support at 95.30 (20-day moving average) as a potential downside trigger level. This is a follow-up analysis of our prior report, “Bearish reaction from key long-term range resistance in place since Oct 2007” publi

12-10-2023 06:36 GMT by Kelvin Wong

British pound shrugs as UK economy rebounds

UK GDP bounces back with 0.2% gain FOMC minutes: Restrictive policy to continue until inflation falls to target The British pound continues to have a quiet week. In the European session, GBP/USD is trading at 1.2302, down 0.08%. UK's GDP rises 0.2% The UK economy grew by 0.2% in August, rebounding from a revised 0.6% decline in July.

12-10-2023 05:20 GMT by Kenneth Fisher

Dollar mostly unfazed post FOMC Minutes

Minutes: Fed sees 'restrictive' policy staying in place until inflation eases 10-year Treasury yield resumes slide post minutes, down 5.4bps to 4.599% Inflation expected to moderate given energy price trends in September; while core proves to be sticky These Fed Minutes seem to be particularly old given everything we've seen with rates, a new war, and a gloomier outlook for the economy. The Minutes noted that policy should remain restrictive for some time until the Committee is confident that

11-10-2023 14:45 GMT by Edward Moya

GBP/USD: Tentatively recaptures 1.2300 as dollar drops for a sixth day as yields continue to tumble

US 10-year Treasury yield falls 6.6bps to 4.587% Fed's Bowman and Waller become less hawkish FOMC minutes to be released at 2pm EST The US dollar pared losses after a hot PPI report but still settled lower as Wall Street focused on the latest Fed speak that had two hawks dial down dial the immediate need for further tightening. The high-beta currencies might struggle for further gains until Wall Street sees tomorrow’s CPI report, which could come in hot given producer prices were supported on

11-10-2023 12:30 GMT by Edward Moya

Australian dollar's rally fizzles

Australian inflation expectations projection to decelerate The Australian dollar has edged lower on Wednesday. AUD/USD is trading at 0.6419, down 0.20%.

11-10-2023 08:28 GMT by Kenneth Fisher

GBP/USD drifting ahead of UK GDP

UK growth expected to rebound in August Fed members more dovish due to increase in US yields The British pound is calm on Wednesday. In the European session, GBP/USD is trading at 1.2297, up 0.10%. The UK economy has been struggling and GDP declined by 0.5% m/m in July.

11-10-2023 06:59 GMT by Kenneth Fisher

Euro calm as German inflation falls, FOMC eyed

German inflation confirmed at 4.5% Fed members say spike in Treasuries could push inflation lower The euro continues to have an uneventful week. In the European session, EUR/USD is trading at 1.0613, up 0.08%. German inflation falls to 4.5% German inflation was confirmed at 4.5% y/y in September, sharply lower than the August reading of 6.1%.

11-10-2023 05:00 GMT by Kenneth Fisher

USD/CAD: Loonie rally stalls ahead of key support; Commodities Diverge

Oil rally cools and prices settle below $86 a barrel US diesel export to Europe approach highest levels since 2019 Wall Street awaits key CPI report and bank earnings The Canadian dollar continues to rally against the US dollar as global bond prices slide and oil prices soften after the surge from the Israel-Hamas war. The North American growth exceptionalism story has seen both the US and Canadian excel. Both countries posted robust payrolls data but the outlook for further tightening by the

10-10-2023 16:03 GMT by Edward Moya

EUR/USD: Dollar softens as Treasury yields slide

Dollar falls four out of five days to euro as 10-year Treasury drops 14.8bps to 4.655% Atlanta Fed GDPNow estimate for Q3 rose from 4.9% to 5.1% Treasury 3-year auction sees lowest bit-to-cover since February; 2.50 v 2.75 prior Fed speak remains dovish; Waller refrains from commenting on near-term interest rate outlook The dollar is declining and US stocks are rallying after a steady dose of dovish Fed speak has traders convinced rate hikes are over. Also providing a boost to sentiment is the r

10-10-2023 15:22 GMT by Edward Moya

USD/JPY drifting, eyes FOMC minutes

The Japanese yen is drifting on Tuesday. In the North American session, USD/JPY is trading at 148.67, up 0.10%. The Bank of Japan continues to stick to its script that inflation is transient and that it has no plans to phase out its monetary stimulus.

10-10-2023 13:02 GMT by Kenneth Fisher

Pound moves higher, BoE points to pressure on consumers

BoE says consumer debt rising Fed members say spike in Treasuries could lower inflation The British pound is higher on Tuesday. In the North American session, GBP/USD is trading at 1.2273, up 0.29%. The Bank of England's financial policy committee (FPC) voiced concern about consumer borrowing.

10-10-2023 11:58 GMT by Kenneth Fisher

AUD/USD drifting after mixed confidence data

Australian consumer confidence rebounds, business confidence eases Fed members say higher bond yields could cool inflation The Australian dollar is unchanged on Tuesday, trading at 0.6412. Australian consumer confidence rebounds, business confidence ticks lower Australia's Westpac consumer confidence index rebounded in October with a 2.9% gain to 82, up from 79.7 in September. This was the highest level in six months, but consumer confidence remains deep in pessimistic territory, below the ne

10-10-2023 07:17 GMT by Kenneth Fisher

CHF/JPY Technical: Continuation of potential bullish impulsive up move

The 4-week of decline from late August 2023 has reached a key inflection point where the CHF/JPY may kickstart another bullish impulsive up move within its major uptrend. Price actions of CHF/JPY have cleared above its prior downward sloping 20-day moving average last Friday, 6 October. Watch the key short-term support at 163.60. This is a follow-up analysis of our prior report, “CHF/JPY Technical: Bullish exhaustion sighted below the key resistance of 166.60” published on 12 September 2023. Cl

10-10-2023 01:26 GMT by Kelvin Wong

Canadian dollar extends gains after jobs report

Canadian dollar continues to gain ground US, Canada post strong employment reports The Canadian dollar continues to show momentum after a strong jobs report on Friday. In the North American session, USD/CAD is trading at 1.3618, down 0.32%. Last week ended with better-than-expected job growth in both Canada and the US.

09-10-2023 13:33 GMT by Kenneth Fisher

AUD/USD edges lower, confidence data next

Australian consumer confidence expected to decline by 0.7% Australian business confidence projected to fall to -2 The Australian dollar lost ground earlier in the day but has pared these losses. In the North American session, AUD/USD is trading at 0.6381, down 0.05%. Australian confidence indicators expected to fall The markets are braced for a deceleration in consumer and business confidence indicators, which will be released on Tuesday.

09-10-2023 12:32 GMT by Kenneth Fisher

EUR/JPY: Keep your eyes on Italian yields

Safe-havens rally as Israel-Hamas war rattles markets Italy 10-year premium over Germany rises towards a 9-month high EUR/JPY appears poised to exit 155-160 range Bond investors are closely watching the widening spread of both Italian bond spreads over the German and Spanish equivalent. Surging interest rates have put a focus back on deficits and that is bad news for Italy. The recent moves with Italian yields might allow the ECB to hold off on ending a bond-buying scheme early. Italy’s budg

09-10-2023 12:07 GMT by Edward Moya

Forex: all news & analysis