Forex: All News & Analysis

AUD/USD Technical: Bulls rejected at 20 and 200-day moving averages ahead of US CPI

Short-term momentum is likely to have turned negative as seen in the hourly RSI. Key short-term resistance stands at 0.6720. Intermediate supports to watch will be at 0.6630 and 0.6600/6580. This is a follow-up analysis of our prior report, “AUD/USD Technical: Positive momentum ahead of RBA” published on 4 July 2023. Click here for a recap. The price actions of the AUD/USD have staged the expected push-up and met the first resistance of 0.6720 as it printed a current intraday high of 0.6742 in

12-07-2023 05:05 GMT by Kelvin Wong

New Zealand dollar pares gains as RBNZ holds rates

New Zealand's central bank takes a pause after 12 consecutive hikes New Zealand Manufacturing PMI expected to show manufacturing is stalled US inflation expected to decline to 3.1% The New Zealand dollar showed some gains after the Reserve Bank of New Zealand paused rates, but has given up most of those gains. In the European session, NZD/USD is trading at 0.6206, up 0.14%.

12-07-2023 04:10 GMT by Kenneth Fisher

Australian dollar loses ground despite solid confidence indicators

Australia's consumers and business confidence improve US inflation expected to fall to 3.1% The Australian dollar is in negative territory on Tuesday. AUD/USD is trading at 0.6656 in the North American session, down 0.28%. Consumer and business confidence rise Australia released business and confidence data on Tuesday, with both showing improvement.

11-07-2023 10:39 GMT by Kenneth Fisher

Technicals and Triggers – USD/JPY, GBP/USD, GBP/JPY, USD/MXN

FX volatility might be returning given Wall Street is seeing some exhaustion with several key currency trades. The end of tightening for the advance economies keeps getting delayed and sooner than later it will deliver a major blow to growth. FX volatility should pick up as diverging policies from the Fed, BOE, and PBOC could trigger some significant moves in H2. USD/JPY

11-07-2023 10:34 GMT by Edward Moya

GBP/USD - BoE has cause For optimism in UK jobs report

UK unemployment rises to 4% in the three months to May, up from 3.8% Average earnings hit 7.3% (excluding bonus) and 6.9% (including bonus) Markets expect BoE to raise rates another 1.25% UK jobs data this morning was a mixed bag on the face of it but a deeper dive into the numbers may give the Bank of England more cause for optimism than pessimism. The earnings component of the report, while continuing to partly shield households from soaring inflation, is the part the MPC will be most co

11-07-2023 09:28 GMT by Craig Erlam

NZD/USD dips ahead of RBNZ rate decision

New Zealand central bank expected to pause after 12 consecutive hikes New Zealand Manufacturing PMI expected to show manufacturing is stalled The New Zealand dollar is lower on Tuesday. In the European session, NZD/USD is trading at 0.6189, down 0.35%. RBNZ expected to take a pause The Reserve Bank of New Zealand will be in the spotlight on Wednesday.

11-07-2023 07:34 GMT by Kenneth Fisher

British pound extends rally after mixed employment report

UK employment falls but wage growth remains high BoE Governor Bailey says inflation will fall but more rate hikes needed The British pound has edged upward on Tuesday. In the European session, GBP/USD is trading at 1.2898, up 0.28%.

11-07-2023 05:20 GMT by Kenneth Fisher

USD/JPY Technical: At risk of a minor bounce before bearish tone resumes

Medium-term uptrend of USD/JPY in place since 16 January 2023 at risk of breakdown. Steep decline from last Thursday, 6 July 2023 has reached oversold condition. Minor bounce cannot be ruled out at this juncture above 140.60 support. Watch the 142.50/142.80 intermediate resistance zone. This is a follow-up on our prior analysis “USD/JPY surged to a 7-month high, but fundamentals diverge” published on 23 June 2023. We have highlighted the risks of the overextended rally exhibited in the USD/JPY

10-07-2023 22:02 GMT by Kelvin Wong

GBP/USD eyes UK employment report

UK jobs report expected to show strong employment and wage growth US nonfarm payrolls declined in June The British pound has drifted lower on Monday. GBP/USD is trading at 1.2827 in the European session, down 0.09%. UK employment data expected to remain strong The UK labour market remains resilient despite a cooling economy and high interest rates.

10-07-2023 11:48 GMT by Kenneth Fisher

USD/CAD slips as NFP falls, Canada adds jobs

US nonfarm payrolls decline Canada adds 60,000 jobs Bank of Canada expected to raise rates on Wednesday The Canadian dollar is trading quietly at the start of the week. In the North American session, USD/CAD is trading at 1.3286, up 0.07%.

10-07-2023 09:48 GMT by Kenneth Fisher

Australian dollar slips after soft Chinese inflation data

AUD/USD slides 1% China's CPI and PPI slow in June The Australian dollar continues to show sharp volatility. AUD/USD is down 0.80% on Monday, trading at 0.6637.

10-07-2023 07:12 GMT by Kenneth Fisher

China equities bulls are still on the waiting list

Deflationary spiral risk has negated confidence in China equities. US dollar has continued to hold steady against the yuan despite a broad-based sell-off against other major currencies ex-post US non-farm payrolls. The key intermediate support to watch on the USD/CNH will be at 7.2160. Weak China inflation data offset positive China Big Tech news flow The dreaded fear of a deflationary spiral in China has reached “code red” where the latest consumer inflation rate for June has flattened to 0% y

10-07-2023 02:34 GMT by Kelvin Wong

MPCE-0062-YT-Thumbnail-White–1280x720-1.png

EUR/USD - Dollar strengthens after hawkish FOMC minutes

OANDA Senior Market Analyst Craig Erlam analyses EURUSD in the aftermath of the FOMC minutes.

07-07-2023 10:29 GMT by Craig Erlam

Week Ahead - US inflation data the headline, BoC ponders another hike, possible RBNZ pause

This week is all about inflation. Annual inflation will tumble as energy prices drop and due to base effects, but many traders will pay close attention to the core readings.

07-07-2023 08:14 GMT by Craig Erlam

Euro steady ahead of nonfarm payrolls, Lagarde speech

EUR/USD is unchanged in the European session, trading at 1.0893. Nonfarm payrolls expected to decline All eyes are on Friday's nonfarm payrolls, which is expected to decline for June. However, this week's employment numbers have been mixed, and it will be interesting to see which direction the nonfarm payrolls release takes. The ADP employment report, which precedes the nonfarm payrolls release by a day or two, tends to get glossed over, as it is not considered a reliable precursor to nonfarm

07-07-2023 06:42 GMT by Kenneth Fisher

Japanese yen jumps on wage growth, nonfarm payrolls next

Japanese wage growth rises, household spending declines US nonfarm payrolls expected to fall USD/JPY is sharply lower The Japanese yen has climbed sharply on Friday. In the European session, USD/JPY is trading at 143.02, down 0.72%.

07-07-2023 06:04 GMT by Kenneth Fisher

Canadian dollar on a roll ahead of US, Canada job reports

US nonfarm payrolls expected to drop, but massive ADP jobs report is making investors nervous Canada's labour market is expected to rebound with a 20,000 gain The Canadian dollar is drifting in the European session, trading at 1.3378. It has been a good week for the Canadian currency, which is up about 1% against its US cousin. We can expect some significant movement from USD/CAD in the North American session, as both Canada and the US release the June employment reports. Will nonfarm payroll

07-07-2023 04:27 GMT by Kenneth Fisher

No summer lull for global equities

Bullish breakout seen in US Treasury 10-year yield above 3.90%, next resistance at 4.46%. Long-duration assets (fixed income & growth stocks) sold off and underperformed in the past two days. Record low level of implied correlation among S&P 500 stocks may lead to a spike in VIX. Asian stocks underperformed reinforced by a weak yuan despite subtle interventions by PBoC. Déjà vu, it’s all about government bond yields again In the past two days, we have seen several significant movements in the g

07-07-2023 02:30 GMT by Kelvin Wong

USD/CAD rises on strong US jobs and services data

ADP employment surprises with a huge gain of 497,000 On Friday, US releases nonfarm payrolls and Canada publishes the employment report Nonfarm payrolls are expected to fall to 225,000, Canada projected to add 20,000 jobs The Canadian dollar is in negative territory on Thursday. In the North American session, USD/CAD is trading at 1.3360, down 0.58%.

06-07-2023 11:50 GMT by Kenneth Fisher

Fed hawks in control after a hot ADP report and impressive ISM services reading

ADP shows 497,000 jobs created in June, biggest gains in over a year ISM Services Index makes 4-month high ISM Prices paid declined from 56.2 to 54.1, lowest since March 2020 US stocks extend losses after a hot ADP report and impressive ISM services report raised the odds the Fed might have to do deliver more rate hikes beyond the July FOMC meeting. The dollar pared losses as Fed rate hike odds rose on expectations the NFP report will deliver its 15th straight beat.

06-07-2023 10:16 GMT by Edward Moya

Forex: all news & analysis