The Canadian dollar is in positive territory on Thursday. In the North American session, USD/CAD is trading at 1.3363, down 0.16%.
26-01-2023 11:50 GMT
by Kenneth Fisher
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The euro has been in calm waters all week and the trend has continued on Thursday, as EUR/USD continues to hug the 1.09 line.
What is the ECB's game plan?
With inflation designated as public enemy number one, the ECB is no doubt pleased that inflation has fallen for two straight months, dropping to 9.2% in December. Still, this is well above the ECB's inflation target of 2%, and the newly-hawkish Christine Lagarde has declared that the ECB will "stay the course" to ensure that inflation comes
26-01-2023 08:51 GMT
by Kenneth Fisher
Tokyo CPI expected to rise
Inflation has been on the rise in Japan and the trend is expected to continue with the release of Tokyo CPI later today. The headline figure is expected to rise to 4.4% in December, up from 4.0% in November, while the core rate is forecast to climb to 4.2%, up from 4.0%.
26-01-2023 06:16 GMT
by Kenneth Fisher
The Australian dollar has extended its rally with solid gains on Wednesday. In the North American session, AUD/USD is trading at 0.7080, up 0.51%.
Australian inflation jumps to 8.4%
RBA policy makers are no doubt having a bad day at the office, as Australia's inflation climbed sharply in the fourth quarter.
25-01-2023 12:37 GMT
by Kenneth Fisher
The Canadian dollar is almost unchanged on Wednesday, trading at 1.3373 in the European session.
BoC expected to hike by 25 bp
The Bank of Canada is expected to raise rates by 25 basis points at today's meeting, the first of the year, which would bring the cash rate to 4.50%. The BoC has been aggressive, raising rates by some 400 basis points in the current rate-tightening cycle which began in March 2022.
25-01-2023 08:41 GMT
by Kenneth Fisher
The New Zealand dollar is under pressure on Wednesday. In the European session, NZD/USD is trading at 0.6478, down 0.41%.
Markets eye New Zealand CPI
The New Zealand dollar reacted negatively to today's CPI release, falling as much as 0.60% before paring these losses.
25-01-2023 04:57 GMT
by Kenneth Fisher
The New Zealand dollar has edged higher on Tuesday and is trading just above the 0.65 line. NZD//USD is coming off a strong week, as it gained 1.39% and climbed to 7-month highs.
Markets eye New Zealand CPI
New Zealand releases CPI for the fourth-quarter later today, in what promises to be a closely watched release.
24-01-2023 13:04 GMT
by Kenneth Fisher
The British pound has posted slight gains on Tuesday. In the European session, GBP/USD is trading at 1.2302, down 0.60%.
UK debt hits record
UK debt costs soared in December, sending the budget deficit to a record 27.4 billion pounds.
24-01-2023 05:21 GMT
by Kenneth Fisher
US stocks are rallying as Wall Street awaits a busy earnings week as well as major GDP and core PCE data later this week that should confirm Fed calls for another downshift in tightening of rates. Corporate earnings have been coming in softer than expected and that should continue to drive recession trends, which are what is needed to get the Fed to stop tightening.
Salesforce is gaining much attention after activist Elliot Management took a multibillion-dollar stake in it. Spotify also announ
23-01-2023 15:26 GMT
by Edward Moya
The British pound has started the new trading week in negative territory, but has manged to pare most of the losses. In the North American session, GBP/USD is trading at 1.2369, down 0.23%.
Markets eye UK PMIs
It's a quiet start to the week, with no UK releases and only one minor US event on Monday.
23-01-2023 11:30 GMT
by Kenneth Fisher
The euro has started the week with gains. EUR/USD briefly punched above the 1.09 line earlier today, for the first time since April but has pared these gains.
Tough ECB talk boosts euro
The ECB meets next on February 2nd and is widely expected to raise rates by 50 basis points.
23-01-2023 09:19 GMT
by Kenneth Fisher
The Japanese yen has edged lower on Monday. In the European session, USD/JPY is trading at 130.15, up 0.45%.
23-01-2023 06:28 GMT
by Kenneth Fisher
OANDA Senior Market Analyst Craig Erlam discusses the latest moves in USDJPY after the BoJ refused to abandon its yield curve control tool and as US data disappointed.
20-01-2023 18:57 GMT
by Craig Erlam
The euro continues to have a very quiet week, as EUR/USD appears content to trade around the 1.08 line.
Lagarde brings her message to Davos
It's difficult to think of ECB President Lagarde as a hawk, as she ignored rising inflation in the eurozone for a long period, insisting that it was transitory. The ECB was late to the global tightening party and found itself scrambling to curb inflation.
20-01-2023 07:30 GMT
by Kenneth Fisher
The Canadian dollar is unchanged on Friday, trading at 1.3466 in the European session. We could see some volatility in the North American session, as Canada releases retail sales.
Retail sales expected to decline
The markets are bracing for a downturn in retail sales for November, with a forecast of -0.5% m/m for the headline figure and -0.4% for the core rate.
20-01-2023 05:41 GMT
by Kenneth Fisher
The British pound has edged lower on Friday. In the European session, GBP/USD is trading at 1.2360, down 0.27%.
Retail sales fall sharply
UK retail sales were dismal in December.
20-01-2023 04:08 GMT
by Kenneth Fisher
The Japanese yen has edged higher on Thursday, after showing strong volatility a day earlier. In the North American session, USD/JPY is trading at 128.48, down 0.32%.
There was plenty of anticipation ahead of the Bank of Japan meeting on Wednesday, with speculation that the central bank would follow up on the December meeting and change its policy settings.
19-01-2023 10:56 GMT
by Kenneth Fisher
It's been a solid start to the year for equity markets but that optimism appears to be fading as policymakers queued up in Davos to push back against market interest rate expectations.
Let's be clear on this; the markets have a much better record over the last 18 months of anticipating shifts in interest rates than central banks so to some degree these warnings will fall on deaf ears. But then, they come at a time when stocks have had a good run so perhaps it's a case of any excuse to lock in so
19-01-2023 08:38 GMT
by Craig Erlam
The British pound is almost unchanged on Thursday, trading at 1.2342 in the European session.
Markets brace for another decline in retail sales
All eyes will be on the UK's December retail sales, which will be released on Friday. The UK consumer has been holding tight to the purse strings, which is bad news for an economy that has tipped into recession.
19-01-2023 08:16 GMT
by Kenneth Fisher
The Australian dollar has extended its slide on Thursday. AUD/USD is trading at 0.6884 in Europe, down 0.82%.
Australian employment data disappoints
Australia's December employment report was weaker than expected, sending the Australian dollar sharply lower.
19-01-2023 05:05 GMT
by Kenneth Fisher