Forex: All News & Analysis

USD/JPY Technical: Potential JPY bullish pressure reasserts

The 2-day rebound seen in USD/JPY has reached 146.20/70 minor resistance zone. The movement of USD/JPY in the past month has a significant direct correlation with the US 10-year Treasury/10-year JGB yield spread. The short-term to medium-term trends of the US 10-year Treasury/10-year JGB yield spread remain bearish. Watch the 146.70 key short-term resistance on USD/JPY. This is a follow-up analysis of our prior report, “USD/JPY Technical: Potential counter-trend rebound within medium-term downt

12-12-2023 00:14 GMT by Kelvin Wong

MKPW-0022-Podcast-Thumbnail-Purple-–-1600x1600-1.png

Market Insights Podcast - Big week on interest rates as Fed, BOE, ECB looms together with US CPI, Japan flash PMI

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic events that focus on the monetary policy decisions of key central banks; Fed, ECB, and BoE. Monetary policy officials may challenge the current aggressive dovish expectations on the trajectory of interest rate cuts for 2024. The primary focus will be on the release of the latest Fed's dot plot on Wednesday, 18 December together with the FOMC monetary policy meeting outcome; Fed funds interest rates futu

11-12-2023 21:45 GMT by Kelvin Wong

AUD/USD extends losses, confidence data next

Australia releases consumer and business confidence on Tuesday The Australian dollar has posted slight losses in Monday trading. In the North American session, AUD/USD is trading at 0.6564, down 0.18%. The Aussie continues to show sharp swings and declined 1.50% last week.

11-12-2023 11:47 GMT by Kenneth Fisher

EUR/USD - All eyes on the central banks and inflation data this week

Fed pivot may hang on tomorrow's CPI data Markets pricing in five rate cuts from ECB next year ahead of meeting EURUSD hangs around key support level A lackluster start to the week but there's so much to come over the next few days which could determine how markets end the year and start 2024. The US will be front and center this week even as events also unfold elsewhere. The Fed decision on Wednesday is unlikely to be controversial but the forecasts, dot plot and press conference that accompan

11-12-2023 10:42 GMT by Craig Erlam

GBP/USD - Pound edges higher ahead of UK job data

UK to release employment report on Tuesday US nonfarm employment payrolls beats forecast and rise to 199,000 The British pound is showing little movement at the start of the week. In Monday's European session, GBP/USD is trading at 1.2576, up 0.22%. It's a busy week for UK releases which could translate into volatility from the British pound.

11-12-2023 06:21 GMT by Kenneth Fisher

Japanese yen correction continues

Japanese yen's slide continues Markets walk back expectations of a change at BoJ December meeting US nonfarm payrolls rise to 199,000, better than expected The Japanese yen has started the week where it left off on Friday, posting sharp losses. In the European session, USD/JPY is trading at 146.16, up 0.83%. BoJ December mania wanes The yen soared over 2% on Thursday, after comments by senior BoJ officials triggered speculation that Bank of Japan might exit negative interest rates at the Dece

11-12-2023 04:19 GMT by Kenneth Fisher

How may the US Nonfarm Payroll numbers impact EURUSD Prices?

Talking Points US Data beat expectations, Nonfarm Payroll breakdown Technical analysis for EURUSD Daily Chart Conclusion, What’s next for EURUSD Price? US Data beat expectations, Nonfarm Payroll breakdown The November Nonfarm payroll numbers released this morning were better than expected, the US economy added 199K jobs last month, slightly above the median forecast of 185K jobs and the Unemployment Rate fell to 3.7% compared to the consensus of 3.9% supporting the theory that the US job mar

08-12-2023 20:45 GMT by Moheb Hanna

Australian dollar on a roller-coaster, US NFP looms

Australian dollar steady after sharp gains on Thursday US nonfarm payrolls expected to climb to 180,000 The Australian dollar is trading quietly on Friday. In the European session, AUD/USD is trading at 0.6611, up 0.14%. It has been a roller-coaster week for the Australian dollar.

08-12-2023 06:17 GMT by Kenneth Fisher

Euro flat as German inflation declines

German inflation confirmed at -0.4% US nonfarm payrolls project to accelerate to 180,000 The euro has edged lower on Friday. In the European session, EUR/USD is trading at 1.0774, down 0.17%.

08-12-2023 04:51 GMT by Kenneth Fisher

Yen pushes higher, GDP softer than expected

Japan's Q3 GDP revised lower to -2.9% Japanese yen gains ground but can't consolidate US nonfarm payrolls expected to rise to 180,000 The Japanese yen continues to show strong swings. In the European session, USD/JPY is trading at 143.94, down 0.16%.

08-12-2023 03:47 GMT by Kenneth Fisher

USD/JPY Technical: Potential counter-trend rebound within medium-term downtrend

Recent bizarre hawkish rhetoric from BoJ top officials ahead of Japan's 2024 nationwide spring wage negotiations sparked a further rally in JPY. Increasing expectations of a BoJ pivot to scrap its decade-long plus of short-term negative interest rate policy to come as early as this month, 19 December monetary policy meeting. The interest rates swap market has priced in a 45% chance of removal of negative interest rate on 19 December, a jump from the 3.5% chance seen earlier this week. USD/JPY re

08-12-2023 01:12 GMT by Kelvin Wong

New Zealand dollar climbs ahead of NZ Manufacturing Sales

New Zealand Manufacturing Sales expected to improve to 0.9% China releases CPI on Saturday The New Zealand dollar is in positive territory on Thursday. In the North American session, NZD/USD is trading at 0.6168, up 0.48%. NZ manufacturing sales expected to rebound The manufacturing sector has been in a major slump worldwide and New Zealand has not been immune.

07-12-2023 12:46 GMT by Kenneth Fisher

Japanese yen soars as BoJ hints at shift in policy

BoJ hints at monetary policy shift Japanese yen soars over 2% US releases nonfarm payrolls on Friday The Japanese yen has surged on Thursday. In the North American session, USD/JPY is trading at 144.00, down a massive 2.25%.

07-12-2023 11:54 GMT by Kenneth Fisher

Canadian dollar muted as BoC holds rates

Bank of Canada holds rates for third consecutive time US releases nonfarm employment on Friday The Canadian dollar is almost unchanged on Thursday. In the European session, USD/CAD is trading at 1.3596, up 0.03%. BoC pauses as expected There were no surprises from the Bank of Canada, which maintained the cash rate at 5.0% on Wednesday.

07-12-2023 07:47 GMT by Kenneth Fisher

What's Next for Gold Price - XAU/USD Technical Analysis

Talking Points: Why did gold prices decline sharply? Daily Chart Analysis 4-Hour Chart Analysis What's next for Gold Prices? Why did gold prices decline sharply? Gold Price fell significantly last week after reaching an all-time high of $2150/Oz, the price fell to $2020/Oz within a day which left many traders stunned and unable to comprehend what has happened, and the more difficult question remains unanswered, what's next for Gold Prices? Over the past few weeks/months, inflation has been

07-12-2023 06:47 GMT by Moheb Hanna

Hang Seng Index Technical: Entrenched in a downward spiral

China’s negative import growth in November suggests a sticky weak domestic demand environment. China and Hong Kong stock markets have failed to reignite bullish animal spirits despite the weakening trend seen in the US 10-year Treasury yield in the past month. Hang Seng Index now faces a potential major bearish breakdown that may retest the 12,200 October 2008 GFC swing low area in Q1 2024. This is a follow-up analysis of our prior report, “Deflationary spiral is still a recurring risk in China

07-12-2023 00:53 GMT by Kelvin Wong

British pound shrugs as Construction PMI misses estimate

UK Construction PMI remains in decline BoE's Bailey warns of 'higher for longer' rate policy The British pound is showing limited movement on Wednesday. GBP/USD is trading at 1.2582 in the North American session, down 0.10%. UK Construction PMI barely moves The UK Construction PMI ticked lower to 45.5 in November, compared to 45.6 in October and shy of the consensus estimate of 46.3.

06-12-2023 12:24 GMT by Kenneth Fisher

USD/CAD - BoC Holds, positive US economic figures ahead of Friday's jobs report

First BoC rate cut priced in for as early as March US ADP employment increases 103k in November (131k expected, 106k previously) USDCAD bounces off key moving average BoC remains committed to hiking if necessary, markets price in March cut The Bank of Canada continued to insist it remains prepared to raise rates again if needed despite acknowledging that inflationary pressures have eased and higher rates are weighing on the economy and demand. Markets continue to focus on the latter, pricing in

06-12-2023 12:16 GMT by Craig Erlam

USD/CAD eyes Bank of Canada rate decision

Bank of Canada expected to hold rates at 5.0% The Canadian dollar is steady ahead of today's Bank of Canada rate decision. Early in the North American session, USD/CAD is trading at 1.3526, down 0.22%. BoC expected to pause The Bank of Canada has held the cash rate at 5.0% for two straight times and another pause is widely expected at today's meeting.

06-12-2023 08:52 GMT by Kenneth Fisher

Australian dollar rebounds despite soft GDP

Australian GDP falls to 0.2% AUD/USD rebounds after two-day losing streak The Australian dollar has bounced back on Wednesday and snapped a two-day losing streak. In the European session, AUD/USD is trading at 0.6574, up 0.34%. Australian GDP eases to 0.2% Australia's GDP rose 0.2% q/q in the third quarter, below the consensus estimate of 0.4% and the second quarter print of 0.4%.

06-12-2023 04:34 GMT by Kenneth Fisher

Forex: all news & analysis