Forex: All News & Analysis

Crude prices rally after Saudis signal output cuts can be extended or deepened Gold struggles as bond market selloff extends; 10-year Treasury rises 11.4bps to 4.191% Bitcoin's tight range narrows to $28,900 to $30,100 Oil Crude prices rallied after the Saudis did what everyone expected them to do, they extended output cuts. The Saudis are doing whatever it takes to defend oil prices and that could mean we could be seeing $90 oil soon. The only thing getting in oil’s way is a weakening global

03-08-2023 15:35 GMT by Edward Moya

Global Bond Market Selloff Extends after BOE signals more tightening ahead

BOE rate hike odds for the September 21st meeting stand at 87.3% The VIX index trades above 16, to the highest levels in two months FX Volatility starts to pick, Canadian dollar index rises to nine-month high Wall Street is watching a global bond market selloff get uglier as US stocks waver ahead of massive earnings from Apple and Amazon. A lot of economic data confirmed how resilient the US economy remains.

03-08-2023 15:22 GMT by Edward Moya

Swiss franc bounces back after inflation eases

Swiss inflation ticks lower to 1.6% US nonfarm payrolls expected to dip to 200,000 on Friday The Swiss franc is in positive territory on Thursday. In the North American session, USD/CHF is trading at 0.8738, down 0.41%.

03-08-2023 13:40 GMT by Kenneth Fisher

Canadian dollar stabilizes after sharp slide

Canada to release July employment report on Friday US nonfarm payrolls expected to dip to 200,000 on Friday The Canadian dollar is almost unchanged on Monday, trading at 1.3357 in the North American session. Canada's job numbers expected to remain solid Canada releases the July employment report on Friday and June's stellar data will be hard to beat. The economy created 59,900 jobs in June, driven by a massive gain of 109,600 full-time jobs (part-time jobs fell by 49,800).

03-08-2023 11:22 GMT by Kenneth Fisher

British pound under pressure ahead of Bank of England decision

BoE expected to raise rates at Thursday meeting Money markets are split over extent of rate hike The British pound is slightly lower on Thursday. In the European session, GBP/USD is trading at 1.2685, down 0.19%.

03-08-2023 04:25 GMT by Kenneth Fisher

GBP/USD Technical: Sell-off almost reached key support ahead of BoE

The recent weakness seen in the GBP is due to a broad-based strength in the US dollar as a short-term safe haven refuge triggered by global risk-off behaviour. The accumulated 462 pips decline seen in the GBP/USD since the 14 July high of 1.3142 has almost reached the key medium-term support of 1.2630. A clearance above 1.2740 on the GBP/USD may negate the current bearish tone. The GBP/USD has shed an accumulated 462 pips in the past three weeks from its current 52-week high of 1.3142 reach

03-08-2023 01:37 GMT by Kelvin Wong

King Dollar returns and takes down Commodities and their Currencies

USD surges as 10-year Treasury rises 4.4bps to 4.067%, highest level since November Oil unable to rally after US crude stockpiles dropped by a record 17 million barrels last week Gold slumps after hot ADP report keeps markets divided on whether Fed will tighten again AUD/USD, NZD, USD, and USD/CAD are all seeing a tentative return of the king dollar trade. The dollar is rallying on safe-haven flows following Fitch's US sovereign rating downgrade. The surge in Treasury yields is also supportin

02-08-2023 14:01 GMT by Edward Moya

Dollar gains as risk aversion returns on Fitch's US downgrade and surging Treasury issuance

Dollar rises as Treasury yields hit 2023 highs on ADP report and rising debt issuance US firms add 324,000 in July, exceeding all estimates (140K to 280K) Fitch downgrades US on fiscal deterioration over next 3 years and surging debt burden US stocks are getting hit with a one-two punch as Fitch’s US sovereign downgrade overnight and on expectations the US Treasury will continue to boost the size of their debt sales. Earnings have been still coming mostly better than expected but the major ind

02-08-2023 13:13 GMT by Edward Moya

Podcast - Dollar rises on US credit rating downgraded, Treasury issuance, and ADP jobs boost

OANDA Senior Market Analyst Ed Moya joins Jonny Hart to discuss the Fitch's US Sovereign rating downgrade, a hot ADP private payrolls report, and the EIA's record inventory draw.

02-08-2023 12:52 GMT by Edward Moya

Swiss franc eases ahead of Swiss inflation report

Swiss inflation projected to fall to 1.6% ADP Employment blows past estimate The Swiss franc has extended its losses on Wednesday. In the North American session, USD/CHF is trading at 0.8795, up 0.50%. Swiss inflation expected to fall to 1.6% Swiss National Bank President Jordan has often complained that inflation remains too high, although other central bankers, who are grappling with much higher inflation, would be happy to change places.

02-08-2023 09:45 GMT by Kenneth Fisher

New Zealand dollar sinks after soft jobs report

New Zealand unemployment rate rises NZD slide continues ADP Employment report smashes estimate The New Zealand dollar has extended its losses on Wednesday. In the European session, NZD/USD is trading at 0.6093, down 0.91%.

02-08-2023 08:58 GMT by Kenneth Fisher

Japanese yen gain rebounds after dovish remarks from BoJ

BoJ says no plans to exit easy monetary policy US to release ADP Employment report on Wednesday USD/JPY rebounds The Japanese yen has reversed a nasty three-day slide on Wednesday. In the European session, USD/JPY is trading at 142.75, down 0.40%. BoJ says monetary easing to continue The BoJ triggered some turmoil in the currency markets last week when it unexpectedly eased its yield curve control.

02-08-2023 06:45 GMT by Kenneth Fisher

AUD/USD and Commodities decline as Dollar rally resumes

Traders push back RBA rate hike bets until November WTI and Brent crude implied volatility falls to lowest since 2020 Turkey unloads significant portion of gold holdings The Australian dollar tumbled after the RBA kept rates on hold again and signaled they might be done tightening. Given most economists expected a hike, aussie-dollar was ripe for a plunge. US dollar strength also supported the decline after the Treasury increased their net borrowing estimate. Oil The oil price rally is re

01-08-2023 15:01 GMT by Edward Moya

USD pares gains after data suggest wage pressures are softening

Dollar rises to three-week high (low for euro) as labor market cools Atlanta's GDPNow index rises to 3.87%, up from 3.55% Manufacturing contracts for a ninth straight month The US dollar pared some its earlier gains after the JOLTS and ISM manufacturing employment component supported a Fed skip in September, possibly confirming hopes that they could be done tightening. The dollar was rallying against the euro as equities tumbled over mixed earnings and over concerns the US soft landing needs t

01-08-2023 12:13 GMT by Edward Moya

NZ dollar slides as Chinese Mfg. PMI declines

NZD/USD is down 1% China's Caixin Mfg. PMI contracted in July The New Zealand dollar continues to show sharp volatility early in the week.

01-08-2023 10:52 GMT by Kenneth Fisher

Japanese yen extends losses against dollar

The Japanese yen continues to slide and is down 1.41% this week. In Tuesday's European session, USD/JPY is trading at 143.16, up 0.64%. Dollar/yen powers above 143 The yen continues to lose ground against the US dollar.

01-08-2023 08:40 GMT by Kenneth Fisher

Australian dollar takes a tumble as RBA pauses

RBA pauses rates Australian dollar slides 1.3% ISM Manufacturing PMI expected to remain in negative territory The Australian dollar continues to swing wildly this week. In Tuesday's European session, AUD/USD is trading at 0.6630, down 1.30%.

01-08-2023 06:12 GMT by Kenneth Fisher

A “data-dependent” RBA does not bode well for Aussie bulls

Australia's central bank, RBA has kept its policy cash rate unchanged at 4.1% for the second consecutive month. The tonality of the latest monetary policy implies that RBA is now data-dependent, and indirectly acknowledged the negative adverse lagged effects of higher interest rates towards economic growth. Overall, RBA may continue to remain on hold on its policy cash rate at 4.1% for the rest of 2023 which in turn negates any potential major bullish movement of the AUD/USD. Expectations of in

01-08-2023 02:26 GMT by Kelvin Wong

AUD/USD Technical: Hovering below the 200-day moving average as RBA looms

AUD underperformed among the major currencies against the USD from 27 to 28 July 2023 ex-post FOMC, ECB, and BoJ. Split view among economists and interest rates traders on RBA monetary policy decision today. Short-term bearish downside momentum at this juncture as the AUD/USD failed to trade above the 200-day moving average. Key short-term resistance on AUD/USD is at 0.6740. This is a follow-up analysis of our prior report, “AUD/USD Technical: Rebounded right at 200-day moving average” publishe

31-07-2023 23:01 GMT by Kelvin Wong

Dollar dips after SLOOS signals tightening lending standards across all categories

4.8% of Large & Mid-market firms in July say conditions tightened considerably, up from 3.2% in April. Commercial and Industrial loans for medium and large firms saw an increase in tightening terms (50.8% vs 46% prior) Fed rate cut odds for the December 13th meeting remained around 17.5% The Fed July Senior Loan Officer Survey (SLOOS) on Bank Lending Practices highlighted a that tightening lending standards occurred across all categories. The impact from the Fed's tightening cycle is clearly i

31-07-2023 14:33 GMT by Edward Moya

Forex: all news & analysis