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
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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
EUR/USD is almost unchanged on Thursday. The economic calendar is light, with no tier-1 events out of the eurozone.
05-01-2023 08:43 GMT
by Kenneth Fisher
The Australian dollar has posted limited losses on Thursday. In the European session, AUD/USD is trading at 0.6822, down 0.17%.
Australian dollar soars as China mulls coal imports
The Australian dollar rocketed higher on Wednesday, rising 1.6% and hitting a 3-week high.
05-01-2023 05:23 GMT
by Kenneth Fisher
US stocks edged higher as investors grew confident that the Fed is nearing the end of its tightening cycle as the manufacturing sector is clearly in a recession, while the labor market refuses to break. This stock market rally however might be short-lived as the ISM report and JOLTS data painted a picture of a resilient labor market that should force the Fed into taking rates even higher into restrictive territory.
04-01-2023 13:46 GMT
by Edward Moya
The Canadian dollar is sharply higher on Wednesday. In the North American session, USD/CAD is trading at 1.3492, down 1.29%.
04-01-2023 12:04 GMT
by Kenneth Fisher
Slide continues amid uncertain China outlook
Oil prices have tumbled again today, hit it seems by the uncertain near-term economic prospects for China amid surging Covid cases. While reliable data is seemingly hard to come by, the view appears to be that there'll be significant disruption in the coming months and then a recovery from around the middle of the year which should then boost demand.
Brent has now slipped back below $80 a barrel while WTI has fallen below $75, with both now only aroun
04-01-2023 09:10 GMT
by Craig Erlam
The British pound has bounced back on Wednesday and recorded sharp gains. In the European session, GBP/USD is trading at 1.2055, up 0.74%.
Food inflation jumps
Ask any British consumer, and they'll tell you that food prices have been going through the roof.
04-01-2023 07:35 GMT
by Kenneth Fisher
After a dreadful showing on Tuesday, EUR/USD has rebounded today. In the European session, the euro is trading at 1.0618, up 0.66%.
Investors eye German CPI
German CPI was lower than expected in December.
04-01-2023 04:56 GMT
by Kenneth Fisher