Forex: All News & Analysis

Euro yawns as German business climate falls

German Business Confidence falls for second straight month ECB's Lagarde hosts central banking conference in Portugal EUR/USD is drifting higher on Monday. In the European session, EUR/USD is trading at 1.0917, up 0.20%. German business confidence slips Germany once prided itself as being the locomotive of the eurozone, which blazed the way with a strong economy.

26-06-2023 08:33 GMT by Kenneth Fisher

Japanese yen edges lower after verbal intervention

Tokyo sends warning over yen's deprecation Yen has slumped over 7% against US dollar since April USD/JPY is in positive territory on Monday. In the European session, the yen is trading at 143.15, down 0.36%. Tokyo issues warning over slumping yen The Japanese yen continues to lose ground and the Japanese government is not amused.

26-06-2023 05:12 GMT by Kenneth Fisher

Geopolitical chaos, FX Intervention, and US banks’ stress test results

Russia’s weekend mutiny cast doubts on Putin’s grip on power. No major impact on markets but keep a lookout on Gold, which bounced off the key support zone of US$1,913/1,896 per ounce. Stern FX verbal intervention from Japan’s top currency official. Watch USD/JPY key near-term support at 142.50/25. US banking stocks tumbled ahead of annual key Fed’s banks’ stress test results Before the start of this new trading week, market participants were being jolted from their weekend leisure activities

26-06-2023 02:57 GMT by Kelvin Wong

Week Ahead - Inflation and Recession Risks

While Europe appears at great risk for a recession as traders bet on aggressive rate rises by all the European central banks, the Fed is still expected to be nearing the end of their respective rate hiking campaign. The focus in the US will fall on the PCE readings. If inflation comes down as expected, the swap futures might grow even more confident that the Fed will only deliver one more rate hike.

23-06-2023 15:16 GMT by Edward Moya

Podcast - Tightening to a recession

OANDA Senior Market Analyst Ed Moya joins Jonny Hart and Trader Nick to analyze the flash global PMIs, the UK's mortgage crisis, Elon Musk Vs Mark Zuckerberg, and the return of the crypto bulls.

23-06-2023 14:36 GMT by Edward Moya

Weak Global PMIs trigger risk aversion, Bostic favors no more hikes,

Stocks tumble on fears monetary tightening will trigger a recession Fed rate hike bets still only pricing in one last rate increase European bond yields plunge on downbeat global sentiment US stocks are sliding as the global growth outlook continues to deteriorate following soft global PMI readings. The risk of a sharper economic downturn is greater for Europe than it is for the US, so that could keep the dollar supported over the short-term. This has been an ugly week for stocks and that is

23-06-2023 11:47 GMT by Edward Moya

Euro skids after soft PMI data, markets eye ISM Mfg. PMI

Eurozone and German PMIs weakened in June EUR/USD fell as much as 110 pips on Friday EUR/USD has taken a tumble on Friday. In the European session, the euro is trading at 1.0885, down 0.64%.

23-06-2023 09:03 GMT by Kenneth Fisher

GBP/USD shrugs after solid UK retail sales report

UK posts better-than-expected retail sales, consumer confidence British pound shrugs after BoE's sharp rate hike US to release ISM Services PMI later on Friday The British pound has edged lower on Friday. In the European session, GBP/USD is trading at 1.2729, down 0.15%.

23-06-2023 07:06 GMT by Kenneth Fisher

USD/JPY rallies, Japanese inflation remains above target

USD/JPY climbs above 143 Japan's core CPI remains above 3% The Japanese yen has stabilized on Friday after falling close to 1% a day earlier. In the European session, USD/JPY is trading at 143.05, down 0.04%. Earlier, USD/JPY touched a high of 143.45, the highest level since early November 2022. On the data calendar, the US releases ISM Services PMI later today.

23-06-2023 05:36 GMT by Kenneth Fisher

USD/JPY surged to a 7-month high but fundamentals diverge

USD/JPY rallied by 100 pips and broke above 142.50 resistance in yesterday’s NY session. Japan’s headline inflation for May softened but the core-core rate (excluding fresh food & energy) accelerated to 4.3% y/y, a 42-year high. High direct correlation between USD/JPY & Nikkei 225 has dissipated. Watch the next key resistance zone of 145.50/146.10 for USD/JPY. In a stunning move, the USD/JPY has rallied by 100 pips from the start of yesterday, the 22 June US session to print an intraday high of

23-06-2023 02:53 GMT by Kelvin Wong

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USD/CHF - SNB hikes rates and warns more may follow

OANDA Senior Market Analyst Craig Erlam discusses today's interest rate decision from the Swiss National Bank and gives his analysis of the USDCHF chart on the back of it.

22-06-2023 12:24 GMT by Craig Erlam

Canadian dollar gets boost from sizzling retail sales

Canada's retail sales higher than expected Fed's Powell stays hawkish, signals two rate hikes The Canadian dollar is almost unchanged in the North American session, trading at 1.3165. Canada's retail sales surprise to the upside Canadian retail sales rebounded impressively in April, after declining in March. Headline retail sales jumped 1.1% m/m in April, after a -1.5% reading in March and crushing the consensus of 0.2%.

22-06-2023 11:37 GMT by Kenneth Fisher

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Podcast - BoE, SNB and CBRT raise rates, bitcoin hits $30,000

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the latest interest rate decisions from the BoE, SNB, and CBRT, Wednesday's testimony from Fed Chair Jerome Powell and bitcoin hitting $30,000.

22-06-2023 10:29 GMT by Craig Erlam

Hawks in charge of Central Bank-a-Palooza (BOE, CBRT, Norges)

BOE raises rates by 50bps to 5.00% (not expected) CBRT raises rates 650bps to 15.00% (less-than-expected) Norges raises rate 50bps to 3.75% (not expected) The European growth picture isn't looking good at all. After a steady dose of hawkish central bank decisions, it appears clear that tightening from here on out will torpedo the European economy. BOE The BOE’s inflation fight will force them to tank the UK economy. The British pound rallied after the BOE delivered a half-point rate

22-06-2023 08:55 GMT by Edward Moya

BoE slams on the brakes again, CBRT a step in the right direction

The Bank of England accelerated its tightening efforts after meeting this week, hiking rates by 0.5% in response to another raft of worrying inflation data. And it's not just yesterday's CPI data that will have caused considerable discomfort for the MPC; the April figures were also far too high and wage numbers we've had in the interim suggest it's becoming increasingly embedded. That had to have caused serious alarm within the BoE, within seven members of the committee anyway. Two policymaker

22-06-2023 07:58 GMT by Craig Erlam

SNB opts for smaller hike but signals it isn't done yet

The Swiss National Bank slowed the pace of its tightening cycle on Thursday, in line with market expectations but signaled there is more to come. While most central banks would dream of 2.2% inflation right now, the SNB has made clear that there will be no complacency. Today's hike likely doesn't mark the end of its cycle, with another 25 basis points expected in September.

22-06-2023 07:03 GMT by Craig Erlam

British pound steady ahead of BoE rate decision

BoE expected to raise rates at Wednesday's meeting Powell signals two more rate hikes this year The British pound is calm on Thursday. In the European session, GBP/USD is trading at 1.2786, up 0.15%. It has been a quiet week for the British pound, although I expect to see more movement after the Bank of England announces its rate decision later today. Will BoE deliver 50-bp hike? It would be an understatement to say that BoE hasn't gotten the job down on the inflation front.

22-06-2023 05:24 GMT by Kenneth Fisher

GBP/USD Technical: Looking to resume minor up move

Recent drop of 156 pips from the current 52-week high of 1.2848 has not damaged GBP/USD minor uptrend. Price actions so far have been trading above upward sloping 13-day moving average now acting as support at 1.2630. Short-term upside momentum seems to have resurfaced as indicated by the hourly RSI oscillator. The ongoing medium-term uptrend phase of GBP/USD in place since the 26 September 2022 low of 1.0359 has hit a current 52-week high of 1.2848 last Friday, 16 June. In the past week, it h

22-06-2023 05:09 GMT by Kelvin Wong

Hawkish Powell weighs on stocks, 50 basis points on the table for the BoE

European stocks are poised to open a little lower on Thursday, tracking moves we saw in the US on Wednesday following Jerome Powell's appearance in Congress. The Fed Chair appeared before the House Financial Services Committee and very much stuck to last week's script, which should come as a surprise to no one. Inflation is not under control and the vast majority at the Fed believe more rate hikes will be warranted was the message, although we got that from the dot plot. For once, markets are

22-06-2023 03:48 GMT by Craig Erlam

Oil remains choppy, gold eyes BoE decision

Oil remains choppy but edging towards the upper end of its range Oil prices remain very volatile as we've seen over the last week. Trading has been very choppy as traders have tried to reconcile weaker Chinese growth, slightly more modest support from the PBOC, more hawkish central banks, and resilient economies.

22-06-2023 03:44 GMT by Craig Erlam

Forex: all news & analysis