Forex: All News & Analysis

OANDA Senior Market Analyst Ed Moya joins Jonny Hart and Trader Nick to analyze the Fed's hawkish skip, updated staff projections, and Fed Chair Powell's presser. They also preview the ECB rate decision.

14-06-2023 17:17 GMT by Edward Moya

Euro strength headed into ECB policy meeting

The euro survived a hawkish Fed pause and now faces an ECB rate decision that should contain a rate hike and a promise for more. The ECB is expected to raise all three of its key rates by 25bps, which would bring the main refinancing rate to 4.o0%. The ECB will also update their staff projections, which should show some weakness and potentially signal they are nearing the end of their tightening cycle.

14-06-2023 16:32 GMT by Edward Moya

New Zealand dollar soars ahead of expected Fed pause

Fed is widely expected to hold off increasing rates New Zealand GDP is expected to decline marginally NZD/USD jumps 1.3% The New Zealand dollar has surged today as the markets anxiously await the Fed rate decision later in the day. In the North American session, NZD/USD is trading at 0.6229, up 1.36%. Will Fed pause as expected? All eyes are fixated on the Federal Reserve, which is widely expected to pause its rate hikes after increasing rates ten straight times.

14-06-2023 11:50 GMT by Kenneth Fisher

AUD/USD rally continues, Fed decision looms

Fed expected to pause rates Australian dollar powers higher Australia releases employment report on Thursday The Australian dollar continues to gain ground and is trading at 0.6795, up 0.42%. The Aussie has been red-hot in June, gaining 4.4%. Australia releases the May employment report early Thursday.

14-06-2023 08:36 GMT by Kenneth Fisher

British pound extends gains, Fed decision looms

US inflation dips Federal Reserve expected to pause rates BoE feels pressure after sizzling UK jobs report The British pound is in positive territory on Wednesday. In the European session, GBP/USD is trading at 1.2645, up 0.27%.

14-06-2023 07:42 GMT by Kenneth Fisher

Today’s FOMC will be a key focus for China and Hong Kong stocks

China proxies; Hang Seng Index, Hang Seng TECH, and Hang Seng China Enterprises have outperformed S&P 500 & MSCI All Country Asia ex Japan since 31 May. This outperformance has been reinforced by more impending monetary policy easing measures from China’s central bank, PBoC. The key risk to derail the current bout of animal spirits in China and Hong Kong stocks will be a further upward trajectory of the USD/CNH (offshore yuan). China’s top policymakers are now in a “heightened state of alert” m

14-06-2023 03:02 GMT by Kelvin Wong

Must the BoE now consider larger rate hikes? Fed on course to pause? Oil bounces back

A truly devastating jobs report for BoE policymakers It's not often that you would refer to a jobs report that delivers a drop in unemployment, record employment and a rise in wages as horrible, but that is exactly what the Bank of England will be feeling today. The central bank has raised interest rates for the last 12 meetings in a row and yet the economy is showing the kind of resilience that few would have anticipated. This creates an enormous headache for the MPC as it desperately wants t

13-06-2023 14:17 GMT by Craig Erlam

EUR/USD rises to 2-week high as US inflation falls

US inflation falls to 4.0% Fed widely expected to pause rates on Wednesday ECB projected to raise rate on Thursday EUR/USD is in positive territory on Tuesday, trading at 1.0803, up 0.42% on the day. US inflation falls to 4.0% The US dollar is down on Tuesday as US inflation eased in May. CPI dropped from 4.9% to 4.0%, just below the consensus of 4.1%, its lowest level since March 2021.

13-06-2023 13:31 GMT by Kenneth Fisher

GBP/USD rebounds on strong UK job numbers, US inflation drops

UK job numbers shine US inflation falls to 4% Fed widely expected to pause rates The British pound has pushed higher today, courtesy of a strong employment report. In the North American session, GBP/USD is trading at 1.2592, up 0.64%. UK job market flexes muscles The UK labour market remains robust, and today's employment numbers were higher than expected. The economy created 250,000 jobs, up from 182,000 crushing the consensus of 162,000.

13-06-2023 09:37 GMT by Kenneth Fisher

Aussie edges higher despite lukewarm confidence data, US inflation next

Australian consumer confidence holds steady, business confidence falls US inflation expected to ease Inflation release could be a game-changer for Fed decision on Wednesday The Australian dollar remains on a roll and is trading at 0.6775, up 0.35% on the day. The Aussie has been a tear in June, surging 4.15% against the US dollar. Australia released lukewarm confidence data today, but that didn't put a crimp in the Australian dollar's upswing, which has continued for a fourth straight day.

13-06-2023 04:17 GMT by Kenneth Fisher

Bull market rally continues ahead of CPI and the Fed

Tech trade remains strong, sending the S&P 500 to a 13-month high Ahead of the May inflation report, Fed swaps are pricing a 23.8% chance the Fed will raise rates on Wednesday Dollar and Treasury yields edge higher US stocks are rallying ahead of a massive macro week that contains a key inflation reading, some major central bank rate decisions, and many important economic readings. The bull market rally looks like it doesn’t want to stop, which means Wall Street appears confident that the F

12-06-2023 15:32 GMT by Edward Moya

Euro drifts higher with eye on German Economic Sentiment, US Inflation

There are no tier-1 events in the eurozone or the US today German ZEW Economic Sentiment expected to decline further on Tuesday US releases CPI on Tuesday, Fed rate decision on Wednesday The euro is showing little movement on Monday trading at 1.0755, up 0.05% on the day. German confidence expected to drop Germany releases ZEW Economic Sentiment on Tuesday and the index is expected to decline to -13.1 in June, down from -10.7 in May. The index fell into negative territory for the first time

12-06-2023 11:40 GMT by Kenneth Fisher

GBP/USD loses ground, markets eye UK employment and US CPI data

There are no UK or US tier-1 releases on Monday On Tuesday, UK releases jobs data and BoE's Bailey testifies before House of Lords committee US releases inflation data on Tuesday, with Fed rate announcement on Wednesday The British pound has started the week quietly. Tuesday promises to be busy, with key releases on both sides of the pond.

12-06-2023 08:31 GMT by Kenneth Fisher

Australian dollar keeps rolling, Aussie confidence data next

AUD/USD continues to rally Australia to release business, consumer confidence on Tuesday US to release inflation on Tuesday, FOMC rate announcement on Wednesday The Australian dollar continues to rally and is higher on Monday, trading at 0.6766, up 0.33% on the day. The Aussie is coming off an excellent week with gains of 2.1%.

12-06-2023 06:29 GMT by Kenneth Fisher

The stock market bulls are back

Vanda Research: Retail traders return with an average flow of $1.36 billion a day over past week Tesla rallies for an 11th straight session Fed rate hike odds for Wednesday's meeting stand at 30.1% slightly higher from yesterday and roughly 7 points higher than a week ago. After a tough grind to bull-market territory, US stocks are incrementally edging higher on some corporate news and after a soft Canadian jobs report helped push global bond yields lower. With the S&P 500 entering bull market

09-06-2023 12:35 GMT by Edward Moya

USD/CAD- Canadian dollar extends gains despite weak job data

Canada's economy sheds 17K jobs, unemployment rate climbs US dollar under pressure after unemployment claims jump Canadian dollar rallies for a third straight day The Canadian dollar continues to rally. USD/CAD is trading at 1.3328 in the North American session, down 0.22% on the day. Canada's labour market softens The week wrapped up with Canada's May employment report, which usually is released at the same time as the US job data, but had the spotlight to itself today.

09-06-2023 10:55 GMT by Kenneth Fisher

Australian dollar soars as US unemployment claims jump

AUD/USD soars after US jobless claims surprise Chinese CPI and PPI decline in May

09-06-2023 04:45 GMT by Kenneth Fisher

AUD/JPY Technical: Rallied to 6-month high

AUD/JPY has staged a bullish breakout from its major descending channel and traded back above its 200-day moving average. Short-term momentum remains positive supported by the 1-hour RSI oscillator. Key short-term support to watch for AUD/JPY is at 92.70. The ongoing 11-week up move from the 24 March 2023 low of 86.06 seen in the AUD/JPY has been reinforced by several positive technical elements; the cross pair has rallied by 755 pips (+8.8%) from its 24 March 2023 low to today’s current intrad

09-06-2023 04:05 GMT by Kelvin Wong

Swiss franc soars on SNB warning, US jobless claims

SNB's Jordan hints at a June rate hike US jobless claims jump Swiss franc climbs 1.2% The Swiss franc is showing limited movement on Friday, trading at 0.8998. On Thursday, the Swissie surged higher, gaining 1.2%. SNB's Jordan signals more rate hikes are coming It seems that Swiss National Bank head Thomas Jordan doesn't miss an opportunity to warn the markets that inflation is too high in Switzerland.

09-06-2023 03:47 GMT by Kenneth Fisher

Jobless claims may offer well-timed comfort for the Federal Reserve

European stocks ended the day relatively flat while tech is enjoying a bounce in the US on the back of a spike in jobless claims, perhaps an early sign of the labor market weakening. A well-timed spike in US jobless claims Jobless claims spiked last week in what could be the start of another trend higher after stabilizing over the last few months. Claims had been expected to rise much earlier than this but for one reason or another, they've stayed remarkably steady.

08-06-2023 13:41 GMT by Craig Erlam

Forex: all news & analysis