OANDA Senior Market Analyst Craig Erlam discusses EURUSD in the aftermath of the US inflation data.
12-01-2023 16:26 GMT
by Craig Erlam
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US stocks initially rallied as inflation continues to ease and as Fed members are clearly signaling a smaller tightening pace going forward. The dollar also headed lower as a subdued inflation report should let the Fed slow their hiking pace again.
It became clear fairly quickly that stocks would not hold onto initial gains as we will likely remain being data-dependent going forward. The labor market is still hot and much of the relief we saw with energy prices appears to be going away this mon
12-01-2023 10:28 GMT
by Edward Moya
The British pound is drifting for a third straight day. In the European session, GBP/USD is trading at 1.2161, down 0.09%.
12-01-2023 07:06 GMT
by Kenneth Fisher
The Japanese yen has awoken from this week's slumber and is sharply higher on Thursday. In the European session, USD/JPY is trading at 130.96, down 1.16%.
BOJ may be planning review of policy
The BOJ has been in the headlines since the December meeting when it widened the band around its 10-year bond yield target.
12-01-2023 05:02 GMT
by Kenneth Fisher
The Japanese yen continues to have a quiet week. USD/JPY has edged up 0.20% and is trading at 132.50.
Markets await US inflation report
There is optimism in the air ahead of the US inflation report for December.
11-01-2023 11:55 GMT
by Kenneth Fisher
The euro is drifting on Wednesday, trading at 1.0730. EUR/USD has climbed about 1% this week, and Monday's high of 1.0760 is its highest level since June 22nd.
11-01-2023 07:18 GMT
by Kenneth Fisher
The Australian dollar is trading quietly on Wednesday. AUD/USD is at 0.6904, up 0.14%.
Australian CPI climbs to 7.3%
Australian inflation pushed higher in November, rising to 7.3% following a 6.9% gain in October.
11-01-2023 04:18 GMT
by Kenneth Fisher
The Australian dollar is in negative territory on Tuesday. In the European session, AUD/USD is trading at 0.6898, down 0.21%.
10-01-2023 09:26 GMT
by Kenneth Fisher
The euro has run out of steam, after an impressive two-day rally that lifted EUR/USD by 2%. On Tuesday, the euro is unchanged at 1.0734.
There are no major releases out of Europe or the US today, which could mean a quiet day for the euro.
10-01-2023 06:05 GMT
by Kenneth Fisher
The Japanese yen continues to have a quiet week. USD/JPY is showing little movement on Tuesday, trading at 131.84.
Tokyo Core CPI hits 4.0%
Tokyo Core CPI, a key inflation indicator, was higher than expected and in December hit 4.0% for the first time since 1982.
10-01-2023 04:01 GMT
by Kenneth Fisher
US stocks are rallying as soft-landing hopes grow ahead of this week’s key CPI report that should show disinflation trends remain intact. Wall Street is pricing in the Fed to be one and done with tightening and possibly cutting rates at the end of the year.
Today’s risk-on rally for stocks got a boost from a weaker dollar and optimism that China’s reopening was gaining steam. Corporate headlines are showing consistent stories of a weakening consumer which should help bring down inflation.
09-01-2023 14:27 GMT
by Edward Moya
Crude prices are rallying as China’s borders open, refiners get big quotas, and as the dollar slides. Chinese hopes for an improving reopening from Covid could help propel oil prices much higher. Oil’s downward trend was approaching critical support, so energy traders were eagerly looking for any reason to jump back into the oil trade.
The macro environment seems like it is improving and that should help keep oil’s rally going. If the soft landing actually happens, oil might trade closer to
09-01-2023 14:21 GMT
by Edward Moya
The euro is on a tear, climbing almost 2% since Thursday. Earlier today, EUR/USD rose to 1.0731, its highest level in a month.
Eurozone inflation falls sharply
Germany and other eurozone members recorded lower inflation in December, and eurozone inflation was expected to also soften.
09-01-2023 09:25 GMT
by Kenneth Fisher
The Japanese yen is calm on Monday and is trading slightly higher, at 132.27. The yen ended the week on a strong note, posting gains of about 1% on Friday.
USD/JPY has shown significant volatility since late December.
09-01-2023 06:10 GMT
by Kenneth Fisher
The Canadian dollar has extended its gains on Monday, after climbing close to 1% on Friday. In the European session, USD/CAD is trading at 1.3396, down 0.35%.
Canada creates over 100K jobs
The final employment report of 2022 was a winner.
09-01-2023 04:17 GMT
by Kenneth Fisher
The British pound has extended its losses on Friday. In the European session, GBP/USD is trading at 1.1847, down 0.52%.
Construction PMI declines
It has been a tough start to the year for the pound, which is down 2% against the dollar this week and is trading at 6-week lows.
06-01-2023 07:17 GMT
by Kenneth Fisher
The Canadian dollar has edged lower on Friday. In the European session, USD/CAD is trading at 1.3620, up 0.36%.
06-01-2023 05:28 GMT
by Kenneth Fisher
It has been a busy week for EUR/USD, although the currency is unchanged on Friday. We could see some volatility before the weekend, with the release of the eurozone inflation and US employment reports.
Eurozone CPI expected to fall
Market participants and ECB policy makers are eagerly awaiting December's eurozone inflation report.
06-01-2023 04:07 GMT
by Kenneth Fisher
The Japanese yen is sharply lower on Thursday. In the North American session, USD/JPY is trading at 133.90 down 0.93%.
What a difference a few days can make.
05-01-2023 10:53 GMT
by Kenneth Fisher
OANDA Senior Market Analyst Craig Erlam discusses gold's start to the year and what it will take for it to be maintained.
05-01-2023 10:01 GMT
by Craig Erlam