Forex: All News & Analysis

USD/JPY - Yen falls below 134 as US dollar gains strength

USD/JPY slips to 1-month low US retail sales fall for second straight month Fed members Waller and Bostic urge more rate hikes Japanese yen extends losses The Japanese yen took it on the chin on Friday, as USD/JPY jumped 0.90%. The yen has edged lower on Monday and fell as low as 134.22, its lowest level since March 15th.

17-04-2023 06:58 GMT by Kenneth Fisher

AUD/USD - Australian dollar takes traders for a wild ride

US retail sales decelerate sharply in May US bank earnings were solid Markets have priced a May rate hike at 80% AUD/USD steady after swings of over 1% late last week The Australian dollar has steadied on Monday, trading just above the 0.67 level. We could see further movement from the Aussie early on Tuesday, as China releases GDP. Aussie sinks after strong US earnings, Fed speak The markets received another clear sign on Friday that the US economy is slowing, after a disappointing March ret

17-04-2023 04:19 GMT by Kenneth Fisher

Week Ahead - All eyes on China's GDP, UK CPI, Flash PMIs, and Earnings

The first few banks are delivering a strong start to earnings season, reigniting soft landing calls, while large parts of Wall Street remain confident that the economy is recession bound as expectations remain that banking turmoil will persist. Fed rate cut bets for later in the year have steadily increased and that has kept the dollar under pressure.

14-04-2023 15:58 GMT by Edward Moya

GBP/USD - Another strong week for the British pound, will US retail sales slip?

British pound has jumped close to 500 points over past five weeks UK economy grappling with high inflation, widespread strikes US retail sales expected to decline in March British pound rallies, but UK economy struggling The British pound is poised to post its fifth successive winning week. During this time, the GBP/USD has sparkled, rallying almost 500 points. This week's UK releases have not been as positive as the pound's upswing.

14-04-2023 08:07 GMT by Kenneth Fisher

USD/JPY steady, BOJ's Ueda pledges to maintain policy, markets eye US retail sales

At G20 meeting, BoJ Governor Ueda says he'll maintain policy US markets brace for soft US retail sales BoJ's Ueda says he'll maintain policy It has been a light data calendar in Japan this week, leaving Bank of Japan Governor Ueda's remarks at a G20 meeting in Washington as the highlight of the week. Ueda took over as head of the central bank on Sunday and will chair his first BoJ policy meeting at the end of the month. Ueda didn't veer from the script which he has been using since his

14-04-2023 06:17 GMT by Kenneth Fisher

New Zealand dollar drifting after soft Manufacuturing PMI, markets brace for soft US retail sales

New Zealand Manufacturing PMI declines in March US retail sales expected to decline in March NZD/USD is trading quietly around the 0.6300 line New Zealand manufacturing declines New Zealand wrapped up the week on a sour note, as Manufacturing PMI for March slipped to 48.1, after a downwardly revised 51.7 in February and below the estimate of 51.0. A reading above 50.0 indicates expansion; below 50.0 indicates contraction.

14-04-2023 05:14 GMT by Kenneth Fisher

Bad news is good news for stocks, Mixed Earnings from Delta and Fastenal

Stocks poised for best day in almost 2 months Euro hits highest levels in a year against dollar Early earnings paint mixed outlook US stocks are rallying as the economic data continues to soften and as corporate updates support the idea that the economy is gradually weakening. Bad news is once again good news for stocks. The US dollar softened after soft PPI data and rising jobless claims bolstered Fed rate cut bets. US Data Today’s inflation readings showed a little bit more softness as s

13-04-2023 14:35 GMT by Edward Moya

GBP/USD - Pound climbs to highest level since June 2022

British pound extends rally UK growth was flat in February US Producer Price Index contracted in March GBP/USD has edged higher and is trading around the 1.25 line. Earlier today, GBP/USD touched a high of 1.2537, its highest level since June 6th. UK GDP stalls The UK economy flatlined in February, versus an upwardly revised 0.4% gain in January and the consensus estimate of 0.1%.

13-04-2023 10:47 GMT by Kenneth Fisher

AUD/USD - Australian dollar jumps on sizzling jobs report

Australia added 53,000 new jobs in March Australian dollar climbs 0.50% RBA Deputy Governor Bullock says rate pause not related to banking crisis Australian job creation surges Australia posted a blowout employment report today, giving the Australian dollar a strong boost. The economy created 53,000 new jobs in March, after a downwardly revised 63,600 a month earlier.

13-04-2023 06:49 GMT by Kenneth Fisher

USD/CAD - Canadian dollar hits 2-month high as BoC pauses again

Bank of Canada pauses rates for second straight month US headline inflation drops to 5%, core rate rises to 5.6% Canadian dollar climbs to highest level since February 16 The Canadian dollar has extended its rally, and is up 0.29% today, trading at 1.3402 in Europe. Bank of Canada holds rates There wasn't much drama ahead of the Bank of Canada's decision to hold rates, as the non-move was widely expected. The benchmark cash rate is at 4.5% and the rate statement said that the BoC was prepare

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

Stocks waver as inflation concerns remain and Fed Minutes project a 'mild recession' later this year

Inflation is cooling but still nowhere near target Fed Minutes show policymakers are eyeing a mild recession this year Dollar softer as rate cut bets boosted post CPI and Minutes US stocks initially rallied after the March inflation report showed consumer prices are decelerating, prompting bets that the Fed might be done tightening. Wall Street wants the Fed to be done with this rate hiking campaign but with supercore inflation nowhere near target, more work needs to be done. The initial stoc

12-04-2023 14:25 GMT by Edward Moya

Australian dollar edges higher as consumer sentiment soars

Australian consumer and business confidence head higher after RBA pause Australian dollar edges higher US releases CPI on Wednesday The Australian dollar has posted slight gains today. In the North American session, AUD/USD is trading at 0.6653, up 0.18%. Australian consumer sentiment jumps Australia's Westpac Consumer Sentiment was red-hot in April, climbing 9.4% to 85.8, up from 78.4 a month earlier.

11-04-2023 09:28 GMT by Kenneth Fisher

EUR/USD - Euro gains ground as investor confidence improves

EUR/USD has climbed around 0.60% today and pushed above the 1.09 line Eurozone Sentix Investor Confidence improved to -8.7 Eurozone retail sales fell by 0.8% US releases inflation on Wednesday Eurozone Sentix Investor Confidence rises The Eurozone economy continues to recover, but there is plenty of work ahead. The Sentix Investor Confidence index improved to -8.7 in April, above the March read of -11.1 and better than the estimate of -11.7 points.

11-04-2023 07:07 GMT by Kenneth Fisher

USD/CAD steady, Bank of Canada expected to pause again

Three Fed members will deliver public statements on a very light data calendar today On Wednesday, the Bank of Canada is expected to pause, and US inflation is projected to fall to 5.2% USD/CAD is almost unchanged, trading around 1.3500 The Canadian dollar is almost unchanged, trading at 1.3501 in Europe. With no Canadian events and no tier-1 releases out of the US, we can expect a quiet day for USD/CAD.

11-04-2023 06:11 GMT by Kenneth Fisher

Euro slips on fallout from strong US nonfarm payrolls

Financial markets in Germany and France are closed for Easter Monday Increased odds of Fed hike is weighing on the euro Eurozone releases retail sales and investor confidence on Tuesday US dollar gets a boost from solid nonfarm payrolls The US dollar is higher against all the majors today, including the euro, courtesy of the strong US employment report on Friday. The star of the show, nonfarm payrolls came in at 236,000 in March.

10-04-2023 13:06 GMT by Kenneth Fisher

Oil drifts lower, Gold back at $2000, Bitcoin resilience

Oil lower given the risk-off tone on Wall Street Gold lower as dollar rallies as Fed rate hike bets get locked in Bitcoin rallies back towards upper boundaries of key range Oil Crude prices are drifting lower as most energy traders are still on the sidelines until we get a clearer picture on the global growth outlook. There have been a lot of headlines but nothing is moving oil today as prices appear content hovering above the $80 given all the supply challenges. Rising tensions between Chin

10-04-2023 11:48 GMT by Edward Moya

Wall Street nervous over upcoming week full of risks, BOJ Gov Ueda sinks yen

Stocks lower as markets price in 71.4% chance of a quarter-point hike at May 3rd FOMC meeting Commercial bank lending drops by $105 billion in two weeks ended March 29th Yen tumbles as BOJ Gov Ueda's inaugural address sticks current ultra-dovish policies US stocks are weakening as investors are anticipating the next inflation report will seal the deal for another quarter-point rate hike by the Fed. This is the week that could tell us that the US consumer is no longer showing resilience and

10-04-2023 11:41 GMT by Edward Moya

USD/JPY - yen slides as Ueda says no plans for policy shift

BoJ Governor Ueda says current monetary policy is appropriate USD/JPY has climbed 1% today Japan's consumer confidence hits 10-month high Strong US employment report raises odds of a Fed hike in May BoJ's Ueda says current policy will continue Bank of Japan Governor Ueda spoke at his first news conference as head of the central bank today. It wasn't quite a State of the Union address, but Ueda's message was clear - the current monetary policy was appropriate and he had no plans to make any maj

10-04-2023 09:41 GMT by Kenneth Fisher

Australian dollar flat in holiday-thin trading, business and consumer confidence releases next

Australian banks closed for Easter Monday, AUD/USD unchanged Australia releases Westpac consumer sentiment and NAB business confidence on Tuesday (Australian time) A solid US nonfarm payrolls report has boosted the likelihood of a Fed rate hike at the May meeting Markets await Australian confidence indicators AUD/USD is flat on Monday, as Australia is closed for a bank holiday. There are no Australian releases and no tier-1 events in the US today, which means it should be an uneventful day for

10-04-2023 07:18 GMT by Kenneth Fisher

Week Ahead - Can CPI, Retail Sales, and Bank Earnings derail Fed rate hike odds?

The US labor market is softening, but still remains tight and that should keep the door open for policymakers to raise rates again at the May 3rd policy meeting. The focus now shifts to whether disinflation trends can get back on track. The March inflation report is expected to show a slower monthly pace of 0.2%, down from 0.4%, while headline inflation reading is expected at 5.2% year on year, down from February’s 6.0%.

07-04-2023 11:33 GMT by Edward Moya

Forex: all news & analysis