Forex: All News & Analysis

Aussie shrugs off RBA minutes, weak consumer confidence

RBA minutes state further rate hikes possible Australian consumer confidence sinks Australian wage growth to be released on Wednesday The Australian dollar has taken investors on a wild ride over the past few days but has settled down on Tuesday. AUD/USD is trading at 0.6687 in Europe, down 0.13% on the day. RBA minutes indicate more rate hikes possible The RBA released the minutes of its meeting earlier this month.

16-05-2023 06:04 GMT by Kenneth Fisher

AUD/JPY Technical: Potential push up within a major range

Two conflicting fundamental factors are driving the short-term movement of the Aussie dollar. RBA’s hawkish rhetoric has provided a potential floor but a weak external environment due to China prevents bulls from taking an aggressive stance. AUD/JPY key short-term support stands at 90.30 with major range resistance coming in at 92.10/92.80. The Aussie dollar seems to be trapped by two conflicting fundamental factors in the short to medium-term horizon. Firstly, the positive factor that suppor

16-05-2023 01:21 GMT by Kelvin Wong

GBP/USD ends slide, employment report next

Empire State Manufacturing Index plummets Markets await UK employment, US retail sales on Tuesday British pound rebounds after sharp slide GDP/USD has started the week in positive territory, after a two-day slide that saw the pound lose 1.5%. In the North American session, GBP/USD is trading at 1.2514, up 0.54%. On the economic calendar, it's a fairly quiet start to the week.

15-05-2023 11:23 GMT by Kenneth Fisher

Oil rebounds on weaker dollar, Gold wavers, Bitcoin off two-month lows

Oil falls $10 since beginning of the year Gold steadies after three-day drop Crypto ETFs see $163 million in net outflows in the past month Oil Crude prices pared gains after a disappointing Empire State manufacturing report showed the Fed’s aggressive rate hiking campaign is starting to really knock down the economy. Turkey’s Ceyhan port has yet to resume flows with Baghdad, and government approval might take longer given the lack of clarity with the presidential election. The dollar rally h

15-05-2023 11:21 GMT by Edward Moya

Stocks boosted on premature debt ceiling deal hope

Empire Survey: 49% report that conditions worsened Fed's Kashkari "We at the Federal Reserve probably have more work to do on our end to try to bring inflation back down" President Erdogan will face Kemal Kilicdaroglu in a run-off ballot on May 28 US stocks are stuck in wait-and-see mode until we get the next debt ceiling talk update. Over the weekend, President Biden provided optimism that a deal could be reached, but no meaningful concessions have been made from either side. Until we have Re

15-05-2023 09:43 GMT by Edward Moya

Australian dollar stems bleeding, RBA minutes eyed

Australia to release RBA minutes and consumer sentiment US debt crisis pushes US yields and the US dollar higher AUD/USD has rebounded on Monday, after a steep slide of 2% over the previous two sessions. The Australian dollar is trading at 0.6689, up 0.71% on the day. Markets await RBA minutes RBA minutes are often on the dull side, but Tuesday's release could be an exception.

15-05-2023 08:15 GMT by Kenneth Fisher

New Zealand dollar rebounds after sharp losses

New Zealand dollar rebounds after sharp losses on Friday New Zealand Services Index contracts US consumer confidence slips, inflation expectations rise The New Zealand dollar has started the week with strong gains. NZD/USD is trading at 0.6218, up 0.46% on the day.

15-05-2023 05:07 GMT by Kenneth Fisher

Podcast - Dollar poised for best week since February as stagflation risks return

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. They recap this week's key drivers for dollar strength, a strong surge with inflation expectations, the BOE's rate hike, oil's bad week, gold's macro backdrop, and cryptos.

12-05-2023 14:08 GMT by Edward Moya

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

Forex: all news & analysis