Forex: All News & Analysis

EUR/USD - Euro steady after mixed PMI reports, US PMIs next

Services PMIs showed stronger expansion in the eurozone Manufacturing PMIs indicated a stronger decline US PMIs follow later today PMIs point to strong services, weak manufacturing The eurozone released April PMIs today, and the results were a mixed bag. The services and manufacturing sectors continue to show strong divergence, with services showing stronger growth, while manufacturing continues to struggle.

21-04-2023 08:49 GMT by Kenneth Fisher

USD/CAD extends rally, markets brace for weak Canadian retail sales

Canadian retail sales expected to have declined US Services and Manufacturing PMIs projected to have slowed USD/CAD pushes above 1.35 The US dollar is broadly higher today, and USD/CAD has climbed to 1.3530, up 0.40% on the day. The Canadian dollar is on a downturn and has lost close to 200 points since last Friday. Canadian dollar eyes retail sales, US PMIs The week wraps up with key releases on both sides of the border.

21-04-2023 07:20 GMT by Kenneth Fisher

AUD/USD slides on hawkish Fedspeak

AUD/USD has fallen sharply Fed members continue to urge more rate hikes Fed members say inflation still too high The Australian dollar has been relatively quiet during the week but is getting pummelled on Friday. AUD/USD is trading at 0.6685, down 0.84% on the day.

21-04-2023 05:04 GMT by Kenneth Fisher

BoJ may start to give more hints on policy normalization

Japan sticky inflation (excluding fresh food & energy) continued to increase for 10 consecutive months. Flash manufacturing PMI for April has shown signs of bottoming out from contraction. AUD/JPY reversed from key medium-term resistance at 90.70. Market participants in the financial markets will turn their focus to the Bank of Japan’s monetary policy decision outcome next week on Friday, 28 April under the helm of a new Governor, Kazuo Ueda. Why is it important? During a decade-long tenu

21-04-2023 01:13 GMT by Kelvin Wong

Stocks soften as earnings and US data still support more Fed rate hikes

US stocks are declining as earnings and economic evidence suggest wage growth is still too high and will keep inflation sticky. Earnings alone are dragging stocks down as Tesla deals with its margin problem, American Express prepares for loan losses, and after TSMC’s disappointing outlook. Wall Street is staring at a list of Fed speakers that will undoubtedly have to stick to the script that inflation is too high and that they can continue with their rate hiking cycle since banking turmoil h

20-04-2023 14:57 GMT by Edward Moya

EUR/USD - Euro edges higher on hawkish Lagarde comments

Lagarde hints at further rate hikes US unemployment claims rise EUR/USD is drifting ECB's Lagarde warns inflation still too high In the weeks prior to the ECB rate decision in March, ECB President Christine Lagarde practically promised an oversize rate hike of 50-basis points. The ECB delivered the goods as promised, but I suspect that Lagarde may have received some criticism for being too transparent.

20-04-2023 13:18 GMT by Kenneth Fisher

NZD/USD falls to 5-week low as inflation slows

New Zealand inflation fell to 6.7%, lower than expected NZD/USD is down 0.40% and dropped to its lowest level since April 16 Four members of FOMC will speak today New Zealand inflation eases more than expected Policy makers at the Reserve Bank of New Zealand are in a bubbly mood, as New Zealand's inflation rate dropped to 6.7% in the first quarter, beating the market consensus of 7.1%. The RBNZ had braced for an acceleration to 7.3%, so the substantial drop was a welcome surprise. The central

20-04-2023 06:21 GMT by Kenneth Fisher

AUD/USD - Aussie shrugs as business confidence falls, RBA review released

Australian Business Confidence and Business Conditions fall RBA review calls for overhaul of central bank Governor Lowe says willing to continue AUD/USD is almost unchanged, trading at 0.6714 Australian Business confidence declines again The NAB Business Confidence Index declined for a second straight quarter, falling by 4 pts. This missed the estimate of 2 and follows a Q4 2022 reading of -1.

20-04-2023 04:36 GMT by Kenneth Fisher

Market Insights Podcast (Episode 556); Netflix Earnings, A hot UK CPI Report , Crypto Outlook

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and our new co-host Trader Nick. They discuss Netflix earnings, banking results from Morgan Stanley and Western Alliance, another hot UK inflation report, and discuss the current state of cryptos.

19-04-2023 15:17 GMT by Edward Moya

New Zealand dollar eyes fourth-quarter inflation

New Zealand's inflation estimate for Q1 stands at 7.1% Fed's Bostic expects one more rate hike NZD/USD showing limited movement New Zealand inflation expected to remain above 7% New Zealand releases inflation for the first quarter later today. It has been a light data week so far in both New Zealand and the US, which explains why NZD/USD is almost unchanged this week.

19-04-2023 09:53 GMT by Kenneth Fisher

EUR/USD - Euro slips as eurozone inflation slides

Eurozone inflation fell to 6.9%, while the core rate rose to 5.7% Goldman Sachs expects ECB rate hike in May EUR/USD has fallen 0.50% and is trading at 1.0920 Eurozone inflation drops to 6.9% Eurozone inflation numbers were unchanged in the final estimate. Headline inflation dropped to 6.9% in March, down sharply from 8.5% a month earlier.

19-04-2023 07:48 GMT by Kenneth Fisher

GBP/USD edges higher as UK inflation higher than expected

UK inflation falls to 10.1%, higher than expected BoE likely to raise rates in May Three Fed members will deliver public remarks today GBP/USD is trading at 1.2445, up 0.16% on the day. UK inflation stays above 10% UK inflation remains hot and stubbornly high. In March, headline CPI dropped to 10.1%, down from 10.4% but above the consensus estimate of 9.8%.

19-04-2023 04:35 GMT by Kenneth Fisher

USD/CAD - Canadian dollar shrugs as inflation falls

Canada's inflation falls to 4.3%, as expected USD/CAD response is muted The Canadian dollar is almost unchanged, trading at 1.3388 in North America. Canada's inflation falls to 4.3% There was good news on the inflation front, as headline CPI fell to 4.3% in March, down sharply from 5.2% a month earlier and dropping to its lowest level since August 2021. The reading matched the forecast, which explained why the Canadian dollar's response has been muted.

18-04-2023 10:35 GMT by Kenneth Fisher

GBP/USD - Pound rebounds as wage growth remains high, CPI expected to dip

UK unemployment claims rise UK wage growth higher than expected UK Inflation is expected to fall below 10% In the North American session, GBP/USD is trading at 1.2419, up 0.34% UK employment report a mix The UK employment report for March was a mixed bag. The number of unemployed persons jumped by 28,200, after a decline of 18,000 in February and higher than the estimate of -11,800.

18-04-2023 09:36 GMT by Kenneth Fisher

Podcast - China records faster growth, UK wages a headache for BoE

OANDA Senior Market Analyst joins Jonny Hart to discuss the latest GDP, retail sales, industrial production and fixed asset investment data from China, UK jobs data and the day ahead.

18-04-2023 08:18 GMT by Craig Erlam

Australian dollar gets boost from strong Chinese GDP

China's GDP expands by 4.5% AUD/USD responds with gains RBA minutes indicate pause was a close call The Australian dollar is showing strong gains on Tuesday. In the European session, AUD/USD is trading at 0.6738, up 0.55% on the day. Aussie rises as Chinese GDP outperforms China is Australia's largest trading partner, which means that the Australian dollar is very sensitive to Chinese economic data.

18-04-2023 06:15 GMT by Kenneth Fisher

AUD/USD short-term uptrend intact supported by China’s growth spurt

China’s Q1 GDP growth, retail sales, and industrial production continue to expand. Less aggressive monetary policy easing is needed from China’s central bank PBoC. AUD/USD short-term uptrend remains intact above 0.6645 key support. The growth spurt from China reopening from its abandonment of stringent COVID-zero policy and implementation of stimulative policies late last year have continued to bear fruition. Today’s release of key China data indicates a robust internal economic environment cou

18-04-2023 02:33 GMT by Kelvin Wong

Potential tailwind for Asian equities as major downtrend on the US dollar remains intact

US Dollar Index managed to hold its February 2023 low of 100.95 but the major downtrend remains intact. Further US dollar weakness supports the potential outperformance of the rest of world equities against the US S&P 500. Hong Kong 33 has evolved into a short-term uptrend after hitting a 12-week low at end of March. In the past two weeks, geopolitical tension has increased and reverberated across different facets such as the ongoing US-China technology trade war involving the supply of semicon

18-04-2023 00:11 GMT by Kelvin Wong

Stocks are wavering as Fed rate hike bets grow, Empire Strikes Back, EUR/USD tumbles below 1.10

Treasury yields higher across curve, with the 2-year rising 8.5 bps to 4.184% Empire surges and supports case for more Fed rate hikes EUR/USD tumbles below 1.10 Stocks are wavering as the risks of more tightening grow after New York factory activity recovers and as the too good to be true start to earnings season continues. Treasury yields are surging as Wall Street is quickly realizing banking turmoil risks are easing as emergency banks loans continue to decline. Small and large loan growth i

17-04-2023 15:55 GMT by Edward Moya

NZD/USD slide continues as Services PMI decelerates

New Zealand Services PMI declines in March US retail sales fall, inflation expectations jump NZD/USD falls to 3-week low New Zealand Services PSI declines New Zealand's services sector saw expansion levels ease in March. The BusinessNZ PSI (Performance of Services Index) fell to 54.4, down from 55.8 in February but well above the 50.0 line which separates contraction from expansion.

17-04-2023 10:45 GMT by Kenneth Fisher

Forex: all news & analysis