Forex: All News & Analysis

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

British pound rises as consumer confidence improves

UK Consumer Confidence hits 15-month high BoE's Bailey warns of wage-price spiral The British pound has pushed higher on Friday. GBP/USD is trading at 1.2449 in North America, up 0.32% on the day. The week is wrapping up on a positive note, as UK GfK Consumer Confidence index improved for a fourth straight month.

19-05-2023 09:50 GMT by Kenneth Fisher

USD/CAD - Will retail sales weigh on the Canadian dollar?

Canadian retail sales expected to decline Fed Chair and two FOMC members will speak later The Canadian dollar is trading quietly ahead of a key retail sales report later today. USD/CAD is trading in Europe at 1.3484, down 0.13%. Markets brace for soft Canadian retail sales The Canadian consumer is holding tightly to their wallet, which is not all that surprising in the current economic climate.

19-05-2023 06:43 GMT by Kenneth Fisher

USD/JPY rally runs out of steam, Japan's inflation rises

Japan Core CPI rises USD/JPY in negative territory The Japanese yen is in positive territory today, in what could be the end of a 6-day rally by the US dollar. During that time, the yen has plunged 440 points and hit a six-month low on Thursday.

19-05-2023 04:10 GMT by Kenneth Fisher

Stocks supported on Debt Deal optimism, strong dollar weighs on commodities and cryptos

US stocks are rising as the biggest risk on Wall Street’s table appears to be going away. Speaker McCarthy said that the House could vote on the debt ceiling deal as soon as next week.

18-05-2023 13:34 GMT by Edward Moya

Oil and gold both take a tumble

Oil Crude prices are sliding as the dollar rallies on bets that the Fed might not be tightening. Good news for the economy is now bad news for the crude demand outlook as economic resilience will force the Fed to kill the economy. Oil is becoming an easy trade, as it will track the dollar and not so much anything else.

18-05-2023 13:28 GMT by Edward Moya

USD/JPY - Yen sinks to 6.5 month low, is 140 next?

USD/JPY punches to its highest level since November 2022 Japan eyes Core CPI The Japanese yen's woes continue, as the currency has plunged a massive 400 points over the past week. In Thursday's North American session, the yen is trading at 138.52, up 0.60% on the day.

18-05-2023 12:01 GMT by Kenneth Fisher

Traders unmoved by BoE comments, US outlook a concern despite better data

MPC grilled as the central bank continues to fight double-digit inflation We heard from some Bank of England policymakers earlier as they were grilled by the Treasury Select Committee on quantitative tightening, among other things naturally. Bailey and colleagues were quite consistent in their messaging and it's probably what the Governor said on Wednesday that raised a few eyebrows as he insinuated that the UK could be seeing a wage-price spiral which could complicate returning inflation to 2%

18-05-2023 11:50 GMT by Craig Erlam

Forex: all news & analysis