Forex: All News & Analysis

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

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

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