Forex: All News & Analysis

Sterling takes a tumble as inflation falls

UK inflation eases more than expected British pound tumbles close to 1% Pound slides as UK inflation lower than expected The British pound is sharply lower on Wednesday. In the European session, GBP/USD is trading at 1.2916, down 0.92%.

19-07-2023 07:34 GMT by Kenneth Fisher

A bipolar world of stock market performances

US benchmark stock indices continue to maintain global leadership as its cyclical laggards are now playing catch up to the technology-related Magnificent Seven (Apple, Microsoft, Meta, Nvidia, Telsa, Alphabet & Amazon). The laggard Dow Jones Industrial Average staged a bullish breakout from a 7-month range consolidation supported by strong performances in financials/banking stocks. China’s latest “New Consumption Plan” has failed to spark bullish sentiment in China and Hong Kong benchmark stock

19-07-2023 03:22 GMT by Kelvin Wong

AUD/USD - Minutes reveal the RBA is undecided on future rate hikes

RBA undecided on future policy moves Markets expect one more hike but not sure when AUDUSD facing significant resistance despite a weaker dollar It's safe to say there's quite a balanced debate taking place at the Reserve Bank of Australia right now, with policymakers torn on whether conditions have become restrictive enough and if a little more will do more harm or good. While markets appear confident that the RBA will hike once more this year, when that will come is far less clear. And as we

18-07-2023 18:13 GMT by Craig Erlam

GBP/USD edges lower ahead of UK inflation

US retail sales dip, core retail sales rise UK inflation expected to fall The British pound has edged lower on Tuesday. In the North American session, GBP/USD is trading at 1.3038, down 0.27%. UK inflation expected to fall The UK is lagging behind other major economies in the fight to curb inflation.

18-07-2023 13:40 GMT by Kenneth Fisher

Technicals and Triggers: EUR/USD, USD/JPY, and USD/CAD

EUR/USD excessively overbought? The euro-dollar ascent was mostly a one-way move for most of July. After inflation eased to the slowest pace in more than two years, the dollar tumbled. With the Fed entering their blackout period before the July 26th FOMC meeting, the lack of hawkish pushback has allowed the dollar to remain vulnerable to further pain just ahead of the 1.1300 handle. Bullish momentum has cleared multiple hurdles but the 1.1350 level should prove to be rather strong. While th

18-07-2023 12:47 GMT by Edward Moya

Canadian dollar flat ahead of CPI, US retail sales

Canada's inflation expected to ease US retail sales projected to improve The Canadian dollar is almost unchanged on Tuesday, trading at 1.3204. USD/CAD should show some life in the North American session, with the release of Canadian inflation and US retail sales. Will Canada's core inflation fall? Canada releases the June inflation report later today, and the Bank of Canada will be hoping for good news.

18-07-2023 07:03 GMT by Kenneth Fisher

Aussie shrugs after RBA minutes, US retail sales next

RBA minutes point to close call at July decision US retail sales for June expected to climb The Australian dollar has edged lower on Tuesday, trading at 0.6807, down 0.14%. We could see some further movement in the North American session when the US releases retail sales. RBA minutes point to uncertainty about the economy The RBA minutes didn't provide much in the way of insights and the Australian dollar barely showed a muted response.

18-07-2023 05:45 GMT by Kenneth Fisher

AUD/USD Technical: Short-term potential bullish revival

Cleared above 200-day moving average ex-post US CPI. Short-term uptrend but the medium-term trend is still sideways as it remained below a major descending trendline resistance at 0.6930. Short-term momentum, hourly RSI has turned bullish. This is a follow-up analysis of our prior report, “AUD/USD Technical: Bulls rejected at 20 and 200-day moving averages ahead of US CPI” published on 12 July 2023. Click here for a recap. Above the 200-day moving average but still below a major descending tren

18-07-2023 00:16 GMT by Kelvin Wong

Euro steadies after sizzling week

The euro is showing little movement on Monday. In the North American session, EUR/USD is unchanged at 1.1226.

17-07-2023 11:30 GMT by Kenneth Fisher

AUD/USD edges lower ahead of RBA minutes, Lowe is out

Australian dollar soared over 2% last week RBA minutes to be released on Tuesday RBA Governor Lowe will be replaced by Michelle Bullock The Australian dollar has started the week in negative territory. In the European session, AUD/USD is trading at 0.6816, down 0.32%.

17-07-2023 10:19 GMT by Kenneth Fisher

NZD/USD coming off superb week as US dollar beats a retreat

NZD/USD in negative territory after jumping 2.58% last week US dollar was broadly lower last week on expectations that Fed rate-tightening almost over The New Zealand dollar has started the week with considerable losses. In the European session, NZD/USD is trading at 0.6338, down 0.51%.

17-07-2023 06:29 GMT by Kenneth Fisher

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Podcast - UK inflation, gold runs into resistance, US markets

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the key themes moving markets at the end of the week. They discuss the latest UK data and look ahead to next week's CPI release, gold and how US markets have traded in the aftermath of the inflation numbers.

14-07-2023 13:00 GMT by Craig Erlam

USD/JPY Technical: Torpedoed down but holding at 200-day moving average

USD/JPY has shed -5.4% from its 30 June 2023 high of 145.07, on sight to record its worst weekly loss since 7 November 2022. Today’s intraday sell-off has managed to hold at the 200-day moving average acting as support at 137.65. Short-term momentum has turned positive which increases the odds of a corrective rebound. This is a follow-up on our prior analysis “USD/JPY Technical: “At risk of a minor bounce before bearish tone resumes” published earlier this week on 11 July 2023. The USD/JPY has

14-07-2023 04:54 GMT by Kelvin Wong

Too early to celebrate disinflation

Current up moves in long-duration equities and fixed income came at the expense of a weaker US dollar. A persistent weak US dollar may lead to an upside revival in commodities prices. Inflationary expectations may creep up again due to higher oil/commodities prices. Disinflationary narrative seems premature and may be mispriced. Market participants have taken a “disinflation ecstasy pill”, bidding up long-duration equities and fixed income in the past two sessions after the latest June US CPI d

14-07-2023 02:50 GMT by Kelvin Wong

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Video - Big level broken in GBP/USD after US and UK data

OANDA Senior Market Analyst Craig Erlam discusses GBPUSD in the aftermath of some major US and UK economic releases.

13-07-2023 18:54 GMT by Craig Erlam

GBP/USD - UK economy continues to show remarkable resilience

UK economy posts a small contraction of -0.1% in May Higher rates will damage the economy going forward Sterling rally continues breaking above 1.30 against the dollar The UK economy posted only a small contraction in May which was much better than forecast as the country continues to show strong resilience in the face of significant pressures. That resilience has helped to sustain inflation at much higher levels than the Bank of England was hoping for which has in turn led to more rate hikes a

13-07-2023 11:44 GMT by Craig Erlam

AUD/USD remains red hot and is trading at 3-week high

Australian dollar continues to power higher RBA inflation expectations remain at 5.2% US inflation falls to 3% The Australian dollar continues to sizzle and has climbed 1.04% on Thursday, after rising 1.56% a day earlier. In the European session, AUD/USD is trading at 0.6857, close to a 3-week high. Australian inflation expectations remain high Inflation remains the Reserve Bank of Australia's number one priority and Thursday's inflation expectations release vindicated the RBA's concern that

13-07-2023 08:27 GMT by Kenneth Fisher

Sterling climbs as UK GDP beats estimate

UK GDP contracts in May but beats estimate British pound hits 15-month high against the US dollar The British pound continues to rally against the US dollar. GBP/USD has risen to 1.3068, up 0.62%.

13-07-2023 06:48 GMT by Kenneth Fisher

China stock market’s momentum-driven rally; watch out for China’s Big Tech

China Big Tech is leading the current momentum-driven rally in China stock market. Supported by a weaker USD/CNH that broke below key near-term support of 7.2160. Further hints from China’s top policymakers that the prior 3-year of stringent regulatory crackdowns on China’s leading technology companies have ended. Current momentum-driven rally of China Big Tech may still see a bumpy ride due to a weak external demand environment. Prior to yesterday’s release of the key US consumer inflation da

13-07-2023 03:32 GMT by Kelvin Wong

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Podcast - US inflation treat, RBNZ pause, BoC hikes again

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the latest US inflation data and the interest rate decisions from the Reserve Bank of New Zealand and Bank of Canada.

13-07-2023 00:56 GMT by Craig Erlam

Forex: all news & analysis