Forex: All News & Analysis

Aussie pares gains as US ADP jobs report sparkles

Australia posts strong trade surplus US ADP employment surprises with massive gain US unemployment claims and ISM Services PMI will be released later on Thursday Thursday has been a busy day for AUD/USD. The Australian dollar rose after a strong Australian trade balance report but has reversed directions following a sparking US ADP employment release.

06-07-2023 09:21 GMT by Kenneth Fisher

USD/JPY gains ground, Fed minutes show policy divisions

FOMC minutes highlight policy divisions USD/JPY falls sharply Japan releases Household Spending and Average Cash Earnings on Friday The Japanese yen is showing strong gains on Thursday. In the European session, USD/JPY is trading at 143.82, down 0.57%. Fed minutes point to disagreement over rate path The Federal Reserve has been aggressively tightening rates in order to curb inflation but took a pause in June after ten consecutive hikes.

06-07-2023 07:37 GMT by Kenneth Fisher

Soft open for US stocks ahead of key labor/service data

China President Xi tells military to firmly safeguard sovereignty and to strengthen military drills Tesla and China's top car manufacturers pledge to avoid 'abnormal pricing' Fed rate hike expectations for the July 26th meeting stand at 85.3%, up from 81.1% at the end of last week. Us stocks are poised for a soft open as global recession fears sink risk appetite ahead of a few key labor and service economic reports. The Fed Minutes did no favors for sentiment as officials favor a July rate inc

06-07-2023 07:03 GMT by Edward Moya

Fed Minutes send bond yields higher

The Fed minutes showed that policymakers were divided and that the hawks will still want to deliver more tightening. Fed Officials are concerned a tight labor market will make inflation tight throughout the rest of the year. If inflation remains persistent, that could be a gamechanger for inflation expectations. Wall Street was getting comfortable with higher for a little bit longer, but they are not ready to price in more than a half-point in rate hikes. In order to conquer inflation the Fe

05-07-2023 17:39 GMT by Edward Moya

Technicals and Triggers - USD/JPY, EUR/USD, EUR/CHF, AUD/USD

The first half of the year was rather choppy for the US dollar as massive bets of weakness were scaled down. Many on Wall Street expected the dollar to weaken as most of the other major currencies were about to deliver significantly more tightening. Regional growth rotations on an improving outlook from a roaring Chinese economy were also supposed to support the case for strengthening commodity demand. The dollar might be positioned for a little more short-term strength here as the odds for m

05-07-2023 17:01 GMT by Edward Moya

Podcast - Rough Waters Ahead in H2

OANDA Senior Market Analyst Ed Moya joins Jonny Hart and Trader Nick to analyze the RBA rate decision, what the latest factory data says about the economy, and what is driving both oil and gold prices.

05-07-2023 15:04 GMT by Edward Moya

Aussie falls as China PMI weakens, FOMC minutes loom

AUD/USD slips after a four-day rally China's Services PMI eases in June Australia's retail sales jump 0.7% in May FOMC minutes will be released later on Wednesday The Australian dollar is in negative territory on Wednesday, after a four-day rally that saw the Aussie climb 100 pips. In the North American session, the Australian dollar is trading at 0.6663, down 0.42%. China's Services PMI eases but indicates expansion China is Australia's largest trading partner, making the Aussie sensitive to

05-07-2023 11:34 GMT by Kenneth Fisher

Euro trading quietly around 1.09, FOMC minutes next

Eurozone and German Services PMIs weaken in June Markets looking for clues as Fed releases minutes on Wednesday EUR/USD is showing limited movement on Wednesday. In the European session, the euro is almost unchanged at 1.0882. German and eurozone Services PMIs ease The eurozone services sector continues to show growth, but the June numbers showed a deceleration.

05-07-2023 06:55 GMT by Kenneth Fisher

USD/JPY - Is Japan mulling an intervention?

Japanese Services PMI continues to expand Federal Reserve to release June meeting minutes on Wednesday USD/JPY continues to have a very quiet week and is trading at 144.36, down 0.07%, in the European session. Japanese Services PMI points to growth Japanese business activity continues to expand. The Services PMI, released on Wednesday, was revised lower to 54.0 in June from 54.2.

05-07-2023 05:06 GMT by Kenneth Fisher

EUR/GBP Technical: Still evolving in a medium-term downtrend

The medium-term downtrend phase of EUR/GBP in place since the 3 February 2023 high of 0.8979 remains intact. Recent price actions have staged a decline from its 28 June 2023 high of 0.8658 and reintegrated below the 20-day moving average. Watch the key short-term resistance of 0.8610 to maintain a bearish tone Since its 3 February 2023 high of 0.8979, the EUR/GBP has continued to evolve in a medium-term downtrend phase as depicted by its price actions that oscillated within a descending channel

05-07-2023 03:58 GMT by Kelvin Wong

EUR/USD eyes eurozone and German services PMIs

German and Eurozone PMIs expected to ease on Wednesday Fed releases minutes of June meeting on Wednesday US yield curve hits deepest inversion since 1981 EUR/USD is drifting downward on Tuesday. In the North American session, the euro is trading at 1.0898, down 0.15%.

04-07-2023 13:41 GMT by Kenneth Fisher

Swiss franc steady after inflation dips

Swiss inflation lower than expected US markets closed on Tuesday Fed minutes will be released on Wednesday The Swiss franc is showing little movement on Tuesday, trading at 0.8959 in the European session. US markets are closed for the July Fourth holiday and we can expect a quiet day for USD/CHF. Swiss inflation falls to 1.7% Switzerland's inflation rate dipped in June to 1.7% y/y, down from 2.2% in May and just below the consensus of 1.8%.

04-07-2023 07:16 GMT by Kenneth Fisher

China’s proxy stock market rallied, hawkish pause for RBA

US-China geopolitical tension remains on heat after the latest China exports curb on key metals for semiconductor chip production. China’s proxy stock market; Hang Seng benchmark stock indices rallied to a 5-day high. RBA left its policy cash rate unchanged at 4.10%, a pause after two consecutive interest rate hikes but hinted in its monetary policy statement is tilted towards a hawkish pause. Actions speak louder than words in geopolitics In the past two weeks, we have witnessed key officials

04-07-2023 02:00 GMT by Kelvin Wong

AUD/USD Technical: Positive momentum ahead of RBA

AUD/USD rallied by 97 pips from last Thursday, 29 June low of 0.6593. Staged a minor bullish breakout ahead of RBA’s monetary policy decision today. Watch 0.6630 key short-term support to maintain the current bullish tone. Since its 0.6593 minor low printed last Thursday, 29 June, the AUD/USD has managed to stage a rebound of 97 pips to print an intraday high of 0.6692 yesterday, 3 July ahead of Australia central bank, RBA’s monetary policy decision out later today at 0430 GMT. The interest ra

03-07-2023 21:33 GMT by Kelvin Wong

Euro calm as manufacturing PMIs point to contraction

Manufacturing PMIs point to contraction across the eurozone but euro remains steady US ISM Manufacturing PMI weakens US PCE Index slows but Fed still expected to hike in July EUR/USD is almost unchanged on Monday, trading at 1.0909. Eurozone manufacturing continues to sputter The eurozone manufacturing sector has been in poor shape for months and the downturn worsened worse in June. The eurozone PMI slowed to 43.4 in June, down from 44.8 and shy of the consensus of 43.6 points.

03-07-2023 11:47 GMT by Kenneth Fisher

Canadian dollar drifting, ISM Manufacturing PMI next

Canada's GDP surprises to the upside US PCE Price Index eases in June ISM Manufacturing PMI expected to contract The Canadian dollar is trading at 1.3259, up 0.07%. Canadian markets are closed for a holiday and I expect USD/CAD movement to be limited.

03-07-2023 08:47 GMT by Kenneth Fisher

AUD/USD pares losses ahead of RBA rate decision

Money markets split on RBA decision on Tuesday US PCE Price Index eases in May The Australian dollar is showing some movement right off the bat on Monday. AUD/USD fell as much as 70 pips in the Asian session but has recovered most of those losses.

03-07-2023 05:55 GMT by Kenneth Fisher

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Podcast - Eurozone inflation, China PMIs, US Data, Gold

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the latest developments in the markets including the eurozone inflation data, US GDP and jobless claims, China PMIs and gold.

30-06-2023 09:15 GMT by Craig Erlam

EUR/USD climbs as key US inflation gauge ticks lower

US Core PCE Price Index ticks lower Eurozone headline CPI eases but core CPI rises German headline and core inflation accelerate EUR/USD is trading at 1.0898 in the North American session, up 0.32%. Eurozone inflation falls but core rate rises Inflation in the eurozone continues to fall. Eurozone CPI is expected to fall to 5.5% in June, down from 6.1% in May and a notch below the consensus of 5.6%.

30-06-2023 09:00 GMT by Kenneth Fisher

Eurozone inflation data brings some relief for the ECB but tightening cycle likely not over

European stocks are ending the week on a high, buoyed by another encouraging inflation report that will soon support the end of the ECBs tightening cycle. Not only did the headline HICP rate fall further than expected, but the slight rebound at the core level - driven largely by unfavourable base effects, largely attributed to German transport subsidies last year - was lower than expected.

30-06-2023 08:43 GMT by Craig Erlam

Forex: all news & analysis