Forex: All News & Analysis

Mountain of risks has dollar poised for best week since February

Dollar index rises to best levels since April 10th (euro falls to one-month low) Rising inflation expectations keeps future Fed rate hike risks in play Consumer sentiment tumbled 9% as recession worries persist US stocks are softer as banking jitters persist and after a steady dose of reminders of all the risks that remain on the table; Treasury Secretary Yellen reiterated that a default would be “an economic and financial catastrophe.”, while Fed’s Bowman warned that they will likely need to r

12-05-2023 13:28 GMT by Edward Moya

The Aussie takes a tumble, UoM Consumer Sentiment next

Australia's inflation expectations higher than expected US inflation unlikely to sway Fed UoM consumer sentiment expected to ease AUD/USD is down 0.19% today, trading at 0.6688. Australia's consumer inflation expectations rise Australia's consumer inflation expectations climbed to 5.0% in May, matching the estimate and above the April reading of 4.6%. This is not what the Reserve Bank of Australia wants to hear - if inflation expectations keep rising and become entrenched, it can manifest int

12-05-2023 07:29 GMT by Kenneth Fisher

GBP/USD flat as UK GDP a mixed bag

UK GDP remains steady at 1% in Q4 BoE raises rates by 25 bp BoE revises upwards its growth, inflation forecasts UoM consumer sentiment expected to slow GBP/USD is trading at 1.2517 in Europe, almost unchanged. In the UK, GDP declined by 0.3% in March m/m, below the 0.1% estimate and the February reading of 0.0%. Still, the economy managed to gain 0.1% in the first quarter, unchanged from Q4 2022 and matching the estimate. BoE raises rates by 25 bp, revises inflation, GDP forecasts There was

12-05-2023 05:55 GMT by Kenneth Fisher

NZ dollar slide continues as inflation expectations ease

New Zealand Inflation Expectations falls to 2.79% US unemployment claims rise UoM consumer sentiment to be released later today The New Zealand dollar is getting pummelled by the US dollar and is trading at 0.6240, down 0.93% on the day. This follows a drop of 1.07% on Thursday. New Zealand inflation expectations decline The week is ending on a high note for policy makers at the Reserve Bank of New Zealand.

12-05-2023 05:11 GMT by Kenneth Fisher

GBP/USD - BoE hikes rates and raises forecasts

OANDA Senior Market Analyst discusses GBPUSD in light of the Bank of England interest rate decision and US inflation data.

11-05-2023 18:57 GMT by Craig Erlam

BoE more optimistic on the economy after raising rates by 0.25%

The Bank of England hiked interest rates by another 25 basis points today, taking the base rate to 4.5% while making significant tweaks to their economic forecasts. The MPC is now of the belief that the economy will avoid recession this year and significantly revised up its GDP forecast, albeit to mild growth. What's more, its forecast for inflation was also much higher which may indicate it will have to go further and hold for longer in order to get back to target.

11-05-2023 13:42 GMT by Craig Erlam

Swiss franc falls despite SNB Jordan's hawkish message

SNB's Jordan says cannot exclude further hikes US PPI dips, unemployment claims jump The Swiss franc has fallen considerably on Thursday. In the North American session, USD/CHF is trading at 0.8950, up 0.59% on the day. SNB head Jordan says more tightening possible Swiss National Bank President Jordan reiterated a hawkish message on Wednesday that he sent out a week ago.

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

Podcast - US inflation falls faster than expected, BoE to hike interest rates

OANDA Senior Market Analyst Craig Erlam reviews the latest market news with Jonny Hart and Trader Nick. They discussed the latest US CPI release and its impact on the markets and preview the BoE rate decision.

11-05-2023 07:52 GMT by Craig Erlam

NZD/USD lower ahead of inflation expectations

New Zealand releases inflation expectations Markets react positively to US inflation report NZD/USD is trading at 0.6342, down 0.38% on the day. New Zealand Inflation Expectations eyed The Reserve Bank of New Zealand will be keeping a close eye on inflation expectations release early on Friday. Inflation expectations eased to 3.3% in Q1, down from 3.62% and the central bank will be hoping that the downswing continues.

11-05-2023 07:04 GMT by Kenneth Fisher

GBP/USD edges lower ahead of BoE meeting

BoE likely to raise rates by 25 bp US to release PPI and unemployment claims later today GBP/USD is trading at 1.2587 in Europe, down 0.30% on the day. BoE expected to raise rates by 25 bp The Bank of England is expected to raise rates today for a 12th consecutive time, with a 25-basis point hike. This would bring the benchmark cash rate to 4.50%.

11-05-2023 05:48 GMT by Kenneth Fisher

EUR/GBP Technical: Minor downtrend intact

EUR/GBP is still evolving within a major sideways range since August 2017 with its key resistance and support at 0.9300 and 0.8300. A minor downtrend phase has started to develop from its 3 February 2023 high of 0.8979. Short-term downside momentum remains intact below 0.8750 key short-term resistance. Since the start of this week, the EUR/GBP cross pair has continued its drop by 0.9% to print its current intraweek low of 0.8671 where market participants anticipant that the Bank of England (BoE

11-05-2023 05:19 GMT by Kelvin Wong

Pound swings after US inflation ticks lower

US inflation ticks lower to 4.9% BoE expected to raise rates by 25 bp on Thursday US inflation dips lower The US inflation report for April showed a very small decline. Headline CPI ticked lower to 4.9%, down from 5.0% in March and the consensus estimate of 5.0%. The core rate eased to 5.5%, matching the consensus estimate and a drop below the March reading of 5.6%.

10-05-2023 11:36 GMT by Kenneth Fisher

Australian dollar steady as US inflation falls to 4.9%

US inflation ticks lower to 4.9% Australia releases inflation expectations later today US inflation dips lower The US inflation report for April showed a drop in CPI, but the decline was marginal. Headline CPI ticked lower to 4.9%, down from 5.0% in March and the consensus estimate of 5.0%. The core rate eased to 5.5%, matching the consensus estimate and a drop below the March reading of 5.6%.

10-05-2023 07:33 GMT by Kenneth Fisher

Will US CPI shake up sleepy yen?

US inflation expected to remain at 5.0% BoJ to release Summary of Opinions USD/JPY continues to have a quiet week and is almost unchanged, trading at 135.20. Investors eye BoJ Summary of Opinions The markets will be keeping a close eye on the Bank of Japan's Summary of Opinions, which will be released later today. The summaries rarely move the dial on the yen, but this summary could be different, as it covers the April meeting which was the first chaired by Governor Kazuo Ueda.

10-05-2023 06:29 GMT by Kenneth Fisher

Waiting Game: Debt Ceiling Drama to resume, Inflation in focus

Dollar slightly stronger ahead of President Biden's pivotal meeting with congressional leaders NFIB report shows sentiment plunges to weakest levels in a decade Wall Street is hoping lawmakers won't have to resort to a short-term debt limit extension US stocks are mostly lower ahead of what will be the start of a lengthy debt ceiling negotiations and ahead of inflation report that should shows the disinflation process is struggling. No one is expecting any meaningful progress with President Bi

09-05-2023 15:11 GMT by Edward Moya

USD/JPY - Yen shrugs after Japanese wages, household spending fall

Japan's real wages fall for 12th straight month Japan's household spending falls 1.9% Fed sounds warning over tighter bank conditions USD/JPY is almost unchanged today, trading at 135.18. Household spending and wages slip Japan's households are again holding tightly to the purse strings, as household spending fell 1.9% y/y in March, following a 1.6% gain in February. The consensus estimate stood at 0.4%.

09-05-2023 10:13 GMT by Kenneth Fisher

AUD/USD dips on soft retail sales

AUD/USD ends 6-day rally Australian retail sales decline Fed warns that banks are tightening credit The Australian dollar is in negative territory, ending a rally of close to 200 points. In the European session, AUD/USD is trading at 0.6760, down 0.29% on the day. Australian retail sales decline Australian retail sales posted a decline of 0.6% in the first quarter, following a downwardly revised reading of -0.3% in Q4 2022.

09-05-2023 06:33 GMT by Kenneth Fisher

AUD/USD extends gains as business confidence improves

Australian business conditions improve Australian consumer confidence expected to decline AUD/USD continues strong rally The Australian dollar continues its impressive rally which started on May 2nd. AUD/USD has surged 2.6% during that time.

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

USD/JPY drifting ahead of consumer spending and income reports

BoJ minutes focussed on inflation Bank turmoil, debt ceiling weighs on risk appetite Japan to release consumer spending and income The Japanese yen has started the trading week quietly and is trading just below the 135 line. BoJ minutes eye inflation The Bank of Japan released the minutes of the March meeting today. Inflation was, unsurprisingly, a hot topic at the meeting.

08-05-2023 10:55 GMT by Kenneth Fisher

Canadian dollar powers to 5-week high on strong job numbers

Canada add 41K new jobs US nonfarm payrolls jump to 253K Canadian dollar surges by 1.2% The Canadian dollar has extended its gains on Monday. USD/CAD is currently trading at 1.3339, down 0.26%. Canada's job market stays hot Canada's labour market defied expectations in April, as the economy added 41,400 jobs, above the March gain of 34,700 and the consensus estimate of 20,000.

08-05-2023 06:35 GMT by Kenneth Fisher

Forex: all news & analysis