Forex: all news & analysis

Explore our comprehensive Forex Archive, an essential resource that provides expert insights on price movements, trends, and the currency market. By analysing past price actions and key events, you can uncover vital market dynamics and elevate your understanding of effective trading strategies. Whether you're focusing on major currency pairs or emerging markets, our archive is packed with information to help you sharpen your trading decisions.

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

Video - GBP/USD steady despite Bank of England warning

OANDA Senior Market Analyst Craig Erlam discusses the moves in sterling in light of BoE Governor Andrew Bailey's comments.

18-05-2023 11:08 GMT by Craig Erlam

GBP/USD slips as US debt ceiling crisis eases

BoE Governor Bailey warns of wage-price spiral, testifies before Treasury Committee Markets lower odds of a Fed pause in June BoE Bailey says UK in wage-price spiral On Wednesday, Bailey had a hawkish message for the markets, saying that he would tighten policy if there was evidence that inflation pressures remained persistent. Bailey warned that the UK was in the midst of a wage-price spiral.

18-05-2023 10:34 GMT by Kenneth Fisher

AUD/USD under pressure after soft Aussie employment

Australia's employment change declines Markets lower expectations of a Fed pause in June The Australian dollar has resumed its downswing on Thursday after taking a pause a day earlier. AUD/USD is trading at 0.6641 in Europe, down 0.26% on the day. Australian employment slips Australia's April employment report surprised to the downside today, sending the Australian dollar lower.

18-05-2023 06:33 GMT by Kenneth Fisher

Podcast - Debt ceiling, gold correction, BoE inflation concerns

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the market stories of the day including the US debt ceiling, gold, and BoE Governor Bailey's comments about a potential wage-price spiral.

17-05-2023 12:48 GMT by Craig Erlam

British pound drifts lower, markets eye Bailey testimony

BoE Governor Bailey to testify before Treasury Committee on Thursday Fed says remains open to rate hikes JP Morgan expects Fed to cut rates Will monetary hearings shake up British pound? The Bank of England will be in the spotlight on Thursday, as Governor Bailey testifies before the Treasury Committee. Lawmakers will likely pepper the Governor with questions about red-hot inflation, which remains in double-digits despite the BoE's aggressive tightening.

17-05-2023 11:56 GMT by Kenneth Fisher

USD/JPY - Japan's GDP improves but yen slips

USD/JPY climbs above 137 Japan's GDP surprises to the upside JP Morgan expects Fed to trim rates The Japanese yen is on a four-day losing streak and is in negative territory on Wednesday. In the North American session, the yen is trading at 137.39, up 0.74% on the day. Japan's GDP beats estimate Japan's GDP in the first quarter was higher than expected.

17-05-2023 10:12 GMT by Kenneth Fisher

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