Forex: All News & Analysis

USD/JPY drifting ahead of Tokyo Core CPI

USD/JPY edges closer to 140 Markets await Japanese inflation US Treasury yields jump as debt crisis continues FOMC minutes point to uncertainty over rate path USD/JPY is drifting higher in the European session, trading at 139.61, up 0.11%. Earlier, USD/JPY touched a high of 139.70, its highest level since November and close to the symbolic 140 level.

25-05-2023 08:09 GMT by Kenneth Fisher

Euro dips lower on weak German data

Germany's GDP contracts in Q1 German consumer confidence remains deeply pessimistic FOMC minutes shows uncertainty over rate path EUR/USD is down for a third straight day. In the European session, EUR/USD is trading at 1.0727, down 0.21%. German GDP contracts in Q1 Germany's economy contracted by 0.3% in the first quarter, after a 0.0% in Q4 2020, which was also the estimate.

25-05-2023 05:31 GMT by Kenneth Fisher

Yuan weakness spooks China and Asia ex-Japan stock markets

USD/CNH (offshore yuan) has surged to a 6-month high of 7.08. Since late Oct 2022, the movement of USD/CNH has had a high degree of correlation with China and Asia ex-Japan equities. Positive momentum factor remains intact for USD/CNH which may add further potential headwinds for China and Asia ex-Japan equities. The earlier “China re-opening theme play” gains of +20% to +56% that were seen in the China benchmark stock indices and its proxies (such as CSI 300 & Hang Seng China Enterprises Index

25-05-2023 02:51 GMT by Kelvin Wong

Podcast - Debt deal angst, RBNZ all done with tightening, hot UK inflation, improving oil fundamentals

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. They give the latest update with debt ceiling talks, discuss the end of RBNZ tightening, a hot UK CPI report, and why oil prices are rising.

24-05-2023 16:20 GMT by Edward Moya

Here comes debt ceiling pain and rising risks of a Fed skip

FOMC Minutes: Officials split on whether more rate hikes are needed to fight inflation Republicans are holding the line of significant spending cuts T-bill yields surge to 7% US stocks are declining after Wall Street got hit with a one-two punch of rising debt default risks and on fears that inflation might not allow the Fed to pause their tightening cycle. The FOMC minutes showed that officials are split on continuing with rate hikes and that they will remain data dependent. Rate cuts are unl

24-05-2023 15:53 GMT by Edward Moya

Euro steady despite weak business confidence data

Germany's Ifo Business Climate falls German GDP expected to stall in Q4 EUR/USD is drifting higher on Wednesday and is trading at 1.0781, up 0.11%. German Business Confidence dips Germany's Ifo Business Climate for May fell to 91.7, following a downwardly revised 93.4 in April and shy of the estimate of 93.0 points. This was the first decline after a six-month expansion.

24-05-2023 09:42 GMT by Kenneth Fisher

GBP/USD dips after disappointing UK inflation

UK headline inflation falls but the core rate jumps US debt ceiling impasse continues, boosting US dollar GBP/USD is down for a third straight day, trading at 1.2374, down 0.33%. Earlier, GBP/USD touched a low of 1.2369, its lowest level since April 18th.

24-05-2023 07:23 GMT by Kenneth Fisher

NZD/USD slides after RBNZ hike of 0.25%

RBNZ hikes by 0.25%, signals end of tightening cycle New Zealand retail sales decline NZD/USD slides by 1.8% The New Zealand dollar is taking a bath on Wednesday. In the European session, NZD/USD is trading at 0.6136, down a massive 1.78% on the day.

24-05-2023 05:41 GMT by Kenneth Fisher

The RBNZ is seemingly done but UK inflation data shows the BoE has a lot to do

It's been a tough start to the trading day, with UK inflation data sending worrying signals while the RBNZ seemed to declare job done in its inflation battle. Bitterly disappointing inflation report from the UK The headline UK inflation number may look like a massive step in the right direction in April but the reality is that there's far more to be concerned about in the report than happy. On the one hand, inflation has slipped significantly from 10.1% to 8.7%.

24-05-2023 04:47 GMT by Craig Erlam

NZD/USD: RBNZ less hawkish tilt reinforces USD bulls

RBNZ hiked its official cash rate as expected by 25 bps to 5.50% It is the first time RB NZ’s monetary policy-setting committee went to a vote today. Split vote of 5 to 2 has indicated a high probability 5.50% is the terminal rate after today’s hike. USD bulls are playing catch-up against prior NZD’s outperformance. The New Zealand dollar, NZD is the weakest currency against the US dollar in today’s Asian session as it tumbled by -1.10% at this time of the writing reinforced by post-RBNZ, the

24-05-2023 01:22 GMT by Kelvin Wong

Stocks plunge as debt deadline nears

Stock breadth deteriorates as equal versus cap-weighted S&P ratio falls to lowest levels since early 2022 Treasury cash balance rises to $68.3 billion on May 22nd Risk appetite struggles as little progress made over raising debt ceiling US stocks are declining as debt ceiling talks have hit a major roadblock and the latest round of economic data suggests the disinflation process is going to start to struggle. What is also weighing on sentiment is the China-US confrontation which could put add

23-05-2023 16:21 GMT by Edward Moya

GBP/USD drifting lower ahead of UK inflation

UK inflation expected to fall sharply on Wednesday IMF revises upwards UK growth forecast GBP/USD is trading quietly at 1.2423, down 0.11% on the day. UK inflation expected to ease UK inflation has been a thorn in the side of the Bank of England for months and is still above 10%. The UK releases the April inflation report on Wednesday and relief may finally have arrived.

23-05-2023 12:13 GMT by Kenneth Fisher

NZD/USD slips ahead of RBNZ decision

New Zealand retail sales expected to decline RBNZ projected to deliver 25-bp hike The New Zealand dollar is lower on Tuesday. In the North American session, NZD/USD is trading at 0.6259, down 0.45% on the day. Debt ceiling impasse boosts US yields The US dollar is higher against most of the majors today, as the markets remain nervous about the US debt ceiling standoff.

23-05-2023 10:28 GMT by Kenneth Fisher

USD/JPY hits 6-mth high as BoJ Core CPI accelerates

BoJ Core CPI rises to 3.0% USD/JPY hits 6-mth high USD/JPY climbed as high as 138.87 earlier on Tuesday, its highest level since May 28th. The yen has edged lower and is trading at 138.43 in the European session, down 0.17%. BoJ Core CPI surprises to the upside Japan released BoJ Core CPI earlier in the day.

23-05-2023 06:14 GMT by Kenneth Fisher

A big week to come despite a sluggish start to the week

It hasn't been the most thrilling start to the week but that is highly unlikely to continue, with debt ceiling talks, inflation releases, PMIs and Fed minutes all to come. Today we'll have to settle for comments from some Fed policymakers and while James Bullard's claim that we should see two more hikes this year may have done more than the morning coffee to wake some people up this Monday morning in the US, the reality is we can take those comments with a relative pinch of salt at this point. W

22-05-2023 11:58 GMT by Craig Erlam

NZD/USD unchanged ahead of New Zealand retail sales

New Zealand retail sales expected to decline RBNZ expected to raise rates by 25 bp The New Zealand dollar is coming off a strong week, with gains of 1.36%. In Monday's North American session, NZD is unchanged, trading at 0.6274. New Zealand retail sales expected to decline New Zealand releases retail sales on Tuesday.

22-05-2023 11:50 GMT by Kenneth Fisher

Deals Galore, a hawkish Bullard, and waiting on DC

Fed rate hike odds turn positive for the July FOMC meeting. June at 29.%, July at 14.3% Fed's Daly noted that tighter credit may be worth a couple rate hikes Biden and McCarthy to meet at 530pm est Wall Street is struggling for direction as investors watch a lot of dealmaking, await debt ceiling negotiation updates, and rethink the Fed’s interest rate path.

22-05-2023 11:46 GMT by Edward Moya

Euro drops to 7-week low, will PMIs surprise?

Eurozone consumer confidence unchanged at -17 Eurozone services and manufacturing PMIs to be released on Tuesday The euro is trading quietly at the start of the week, just above the 1.08 line. EUR/USD stabilized on Friday, after a 3-day skid which saw the euro drop as low as 1.0760, its lowest level since March 28th. Today features a very light data calendar, with only one release in Europe and none out of the US.

22-05-2023 10:56 GMT by Kenneth Fisher

Japanese yen drifting ahead of BOJ Core CPI

BoJ Core CPI expected to ease USD/JPY steadies after extended slide In Monday's European session, USD/JPY is steady, trading at 137.90. The yen gained 0.53% on Friday, after a nasty slide last week in which it fell 440 points and hit a six-month low. BoJ Core CPI expected to inch lower Inflation has become a hot topic for Japanese policy makers, which marks a sea-change after years of deflation.

22-05-2023 06:34 GMT by Kenneth Fisher

Finally some Debt-Limit Drama, Powell paves the way for a pause

Fed discord to grow as inflation shows signs of stickiness 10-year Treasury yield rises 2.1bps to 3.667% Wall Street eyes potential September rate cut US stocks turned negative after key negotiators for Speaker Kevin McCarthy left a closed door debt ceiling meeting with White House representatives noting that they were not being “reasonable.” Finally, we are seeing posturing and some heated debate for this debt deal. A big risk for debt-limit talks were that negotiations were too easy and that

19-05-2023 13:09 GMT by Edward Moya

Forex: all news & analysis