Forex: All News & Analysis

Japanese retail sales and industrial production soften A possible snap election in Japan could delay any BoJ move House to vote on debt ceiling deal USD/JPY is almost unchanged on Wednesday, trading at 139.73. The yen has improved since dropping as low as 140.93 this week, its lowest level since November. Japanese numbers were softer than expected.

31-05-2023 09:53 GMT by Kenneth Fisher

Canadian dollar edges lower ahead of Canadian GDP

Canada to release GDP US debt ceiling deal off to Congress The Canadian dollar is trading close to a two-month low, as the currency remains under pressure. USD/CAD is trading at 1.3646 in the European session, up 0.34%. Canada's GDP expected to improve in Q1 Canada releases GDP later today, and the markets are projecting a modest 0.4% q/q for the first quarter, after flatlining in Q4 2022.

31-05-2023 06:24 GMT by Kenneth Fisher

AUD/USD slips on soft Chinese PMIs, Aussie inflation jumps

RBA's Lowe says inflation fight not over Australian inflation rises to 6.8% US Treasury yields fall on debt ceiling deal Australian inflation rose in the first quarter, but the Australian dollar is considerably lower today due to soft China PMI reports. AUD/USD is trading at 0.6481, down 0.54%.

31-05-2023 04:47 GMT by Kenneth Fisher

China’s deflationary spiral bumps up FX risk aversion

China’s NBS Manufacturing and Non-Manufacturing PMIs for May have increased the risk of a deflationary spiral in China. A weaker Chinese yuan may be required to counter and smooth the adverse effects of the deflationary spiral at least in the short-term. Risk aversion has resurfaced in the FX market via weakness seen in the G-10 JPY crosses. In stark contrast to the recent findings of China’s manufacturing sector survey done by China Beige Book, a US-based data provider that has indicated a reb

31-05-2023 02:08 GMT by Kelvin Wong

Euro touches 9 week low, German CPI next

Spain's CPI eases in May German CPI to be released on Wednesday Debt ceiling likely to be approved in Congress EUR/USD has edged higher on Wednesday. In the European session, EUR/USD is trading at 1.0737, up 0.26%. Earlier, the euro dropped as low as 1.0672, its lowest level since March 20. Spanish CPI lower than expected Spain, the fourth-largest economy in the eurozone, saw inflation fall to 3.2% in May.

30-05-2023 09:45 GMT by Kenneth Fisher

USD/JPY punches above 140, Tokyo issues warning

Japanese yen falls below 140 Japan's Ministry of Finance issues warning US debt ceiling heads to Congress USD/JPY is showing little movement on Tuesday. In the European session, USD/JPY is trading at 140.17, down 0.19%. The Japanese yen continues to underperform and has plunged 2.8% in May.

30-05-2023 06:37 GMT by Kenneth Fisher

Aussie unchanged ahead of Lowe, CPI

RBA Governor Lowe testifies before a Senate Committee Australia to release CPI US debt ceiling deal likely to be approved by Congress The Australian dollar is drifting lower on Tuesday. AUD/USD is trading at 0.6538 in Europe, unchanged on the day. RBA Governor Lowe testifies before a Senate Committee later today.

30-05-2023 04:54 GMT by Kenneth Fisher

EUR/USD Technical: Bears may be getting exhausted

The current minor downtrend phase for EUR/USD from its 3 May 2023 high of 1.1092 is showing signs of exhaustion. Elliot Wave/fractal analysis suggests a potential terminal support zone of 1.0670/1.0630 for the minor downtrend phase where a possible minor mean reversion rebound may occur next. The key intermediate resistances to watch will be at 1.0725 and 1.0850. Fig 1: EUR/USD trend as of 30 May 2023 (Source: TradingView, click to enlarge chart) In the medium term (multi-week), the price ac

30-05-2023 01:43 GMT by Kelvin Wong

Swiss franc edges higher ahead of Swiss GDP, business confidence

US markets closed for a holiday US debt ceiling crisis resolved US inflation higher than expected Switzerland releases GDP and the KoF Economic Barometer The Swiss franc has edged higher on Monday and is trading at 0.9036, up o.15%. US markets are closed for Memorial Day and the currency markets have been calm today. Switzerland releases GDP and business confidence on Tuesday.

29-05-2023 11:17 GMT by Kenneth Fisher

GBP/USD flat in holiday-thinned trading

US markets closed for bank holiday US debt ceiling agreement reached GBP/USD has started the week quietly. The pound is currently trading at 1.2342, almost unchanged.

29-05-2023 09:44 GMT by Kenneth Fisher

New Zealand dollar stems nasty slide

US markets closed for a bank holiday New Zealand dollar steadies after a 3.6% plunge last week US inflation higher than expected The New Zealand dollar has stabilized on Monday after a disastrous week. In the European session, NZD/USD is trading at 0.6057, up 0.17%. US reaches debt ceiling deal US lawmakers hammered out a debt ceiling deal over the weekend.

29-05-2023 06:28 GMT by Kenneth Fisher

AUD/JPY Technical: Bulls got stalled again at 200-day MA

The medium-term up move of AUD/JPY from the 24 March 2023 swing low of 86.06 got stalled again at the key 200-day moving average. Short-term downside movement seems to have resurfaced as indicated by the 4-hour RSI. Key resistance to watch will be at 92.70. Fig 1: AUD/JPY trend as of 26 May 2023 (Source: TradingView, click to enlarge chart) The recent 460 pips rally of the AUD/JPY from its 26 April 2023 minor swing low of 87.87 has stalled at the key 200-day moving average again (now acting

29-05-2023 06:04 GMT by Kelvin Wong

Podcast - Hawkish Economic Data, U.K. chancellor Hunt's support of BOE tightening, and Nvidia's AI boom

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. They discuss today's debt ceiling talks, hawkish economic data releases, the UK economy, and Nvidia's AI boom.

26-05-2023 13:21 GMT by Edward Moya

Oil volatile after a week of mixed messages, US inflation bad news for gold

Oil markets volatile ahead of OPEC+ meeting next weekend Oil prices are recovering slightly after a volatile week amid conflicting commentary from key members of the OPEC+ alliance. From a "watch out" warning from the Saudi Energy Minister to a suggestion that the group will not cut output next weekend, traders have been left a little confused as to what we can expect. It may be that Saudi Arabia wants to keep traders on their toes but to make these comments and not follow through could be perce

26-05-2023 12:41 GMT by Craig Erlam

GBP/USD - Dollar strengthens after FOMC minutes, UK inflation a concern

OANDA Senior Market Analyst Craig Erlam talks about how recent events have impacted GBPUSD, with the FOMC minutes signaling a divide on interest rates and UK inflation problematic for the BoE.

26-05-2023 12:25 GMT by Craig Erlam

Debt-Limit talks advance and there goes the cooling inflation narrative

Dollar approaches 2-month high; 2-year yield rises 8.1 bps to 4.616%, the 11th straight day of gains, longest streak since September Fed's Mester noted that the previous rate hikes will effect the econonmy Inflation is looking stickier than ever as the PCE supercore surges US stocks are rallying as Washington DC nears a debt deal ahead of the long weekend. The risks that a debt deal could fall apart at the 11th hour remains, which makes Treasury Secretary Yellen’s update over the X-date criti

26-05-2023 12:14 GMT by Edward Moya

Tokyo core-core CPI continues to accelerate with USD/JPY now below key 141.00

Tokyo core-core CPI (excluding fresh food & energy) accelerated to a 31-year high BoJ’s latest guidance from Governor Ueda is no longer making wage growth as a main priority, raising the possibility of a monetary policy normalization in H2 2023. The 5-month rally of USD/JPY is now coming close to key short-term resistance at 141.00. This week’s latest release of key leading economic data out of Japan has indicated signs of sustained inflationary growth

26-05-2023 04:14 GMT by Kelvin Wong

Investors forced to reconsider interest rate forecasts amid disappointing data

UK interest rate expectations rise after inflation data We're seeing very mixed trade on Thursday, with the Nasdaq making strong gains of more than 1.5%, the Dow and S&P treading water, and Europe mostly in the red. Once more there's a heavy focus on central banks and whether investors have been too optimistic about when and where the peak in interest rates will come, and by extension how soon after they'll fall. UK inflation data on Wednesday was very disappointing, despite finally falling bac

25-05-2023 11:32 GMT by Craig Erlam

Oil slides over OPEC, gold falls after FOMC minutes

Russia cools talk over OPEC+ output cut Oil prices are sliding again on Thursday after the Russian Deputy Prime Minister, Alexander Novak, appeared to cool expectations of an imminent output cut from OPEC+ ahead of the meeting in a little over a week. Suspicions of a second consecutive cut came as prices slipped, and remained, below $80 a barrel - the point at which the group announced a surprise cut previously - and Saudi Energy Minister, Prince Abdulaziz bin Salman, warned short speculators

25-05-2023 10:42 GMT by Craig Erlam

GBP/USD edges lower, markets eye UK retail sales

UK retail sales expected to fall sharply US debt ceiling impasse continues FOMC minutes show Fed divided over rate policy GBP/USD continues its downswing. The pound is trading at 1.2340, down 0.20% and is at a one-month low against the US dollar. The UK releases retail sales for April on Friday.

25-05-2023 09:19 GMT by Kenneth Fisher

Forex: all news & analysis