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Eurozone core inflation falls, drags euro lower

The euro is lower on Thursday, after a 3-day rally which pushed the currency 1% higher. In the European session, EUR/USD is trading at 1.0861, down 0.57%. Eurozone CPI steady, core CPI falls Eurozone inflation was a mixed bag in August.

31-08-2023 07:54 GMT by Kenneth Fisher

CHF/JPY Technical: Relentless uptrend movement

Bullish acceleration within long-term secular uptrend to print a fresh all-time high of 166.60 yesterday, 30 August. Current minor pull-back of 102 pips from 166.60 all-time high has almost reached a short-term oversold condition as indicated by the hourly RSI. Key short-term support rests at 165.10. The cross-pair CHF/JPY has continued its impulsive up-move sequence in the month of August where it rallied by +291 pips as of 31 August 2023 at this time of the writing, capping off a relentless b

31-08-2023 04:56 GMT by Kelvin Wong

NZD/USD yawns as Business Confidence improves

New Zealand business confidence rises ADP Employment Change falls to 177,000 The New Zealand dollar is almost flat on Thursday, trading at 0.5958 in Europe. New Zealand Business Confidence improves again New Zealand's ANZ Business Confidence index accelerated for a fourth straight month in August. The index improved to -3.7, up from -13.1 in July.

31-08-2023 03:59 GMT by Kenneth Fisher

Podcast - US JOLTS, ADP employment and GDP reaction

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the latest data from the US including JOLTS job openings, ADP employment and GDP, and its impact on the markets.

30-08-2023 13:48 GMT by Craig Erlam

EUR/USD - No game-changer but US data highlights weaknesses in the economy

ADP posts 177,000 new jobs but traders not convinced US Q2 GDP revised lower to 2.1% (2.4% previously) USD pares six week gains after weaker figures this week The recovery in equity markets appears to have stalled on Wednesday as traders likely eye the big economic releases later in the week. The ADP and revised GDP numbers may attract some attention but they were never likely to have too great an impact. The ADP report has long been ignored as a reliable precursor to the NFP report on Friday a

30-08-2023 13:39 GMT by Craig Erlam

NZ dollar pares gains, business confidence next

US GDP expanded by 2.1% ADP Employment slides to 177,000 New Zealand business confidence expected to improve The New Zealand dollar posted slight gains on Wednesday but then retreated, after sizzling on Tuesday with gains of 1%. In the North American session, NZD/USD is flat at 0.5970.

30-08-2023 13:07 GMT by Kenneth Fisher

Gold - Buoyed by US JOLTS data as yields and the dollar slide

Gold buoyed by JOLTS data US 2-year yield slipped below 5% Could $1,950 be a major level of resistance?

30-08-2023 08:16 GMT by Craig Erlam

AUD/USD soars after weak US data, US GDP next

Australian inflation falls to 4.9% US GDP expected to rise to 2.4% The Australian dollar has edged lower on Wednesday after sharp gains a day earlier. In the European session, AUD/USD is trading at 0.6473, down 0.10% on the day. Australia's inflation slips to 4.9% There was good news on the inflation front as July CPI fell to 4.9% y/y, down from 5.4% in June and below the consensus estimate of 5.2%.

30-08-2023 07:52 GMT by Kenneth Fisher

EUR/USD eyes German, Eurozone CPI reports

Germany to release CPI on Wednesday, Eurozone on Thursday US consumer confidence and jobs data disappoint The euro's mini-rally has run out of steam. EUR/USD climbed 0.80% over the past two days but is trading in negative territory on Wednesday.

30-08-2023 05:47 GMT by Kenneth Fisher

Brent Crude - Oil steadies but may be vulnerable to fresh spikes

Oil prices stabilize after establishing a new range Hurricane season may have a greater influence amid tight market Head and shoulder neckline remains intact Oil prices appear to be stabilizing around the middle of their new higher range, in the aftermath of OPEC+ cuts (voluntary Russia and Saudi in particular). Brent crude currently sits a little shy of $85 after rebounding higher off $82 last week and peaking just above $88 earlier this month. There remains considerable uncertainty around th

29-08-2023 12:53 GMT by Craig Erlam

GBP/USD - JOLTS data pulls US yields lower but Fed will hope for more this week

JOLTS job openings slip to 8.827m (9.465m expected, 9.165m previously) Consumer confidence also falls but the survey is volatile Is last week's breakout stalling?

29-08-2023 12:38 GMT by Craig Erlam

Euro dips below 1.08 but bounces back after soft US data

Euro slips below 1.08 but recovers German GfK consumer climate falls US consumer confidence and job openings decelerate The euro fell below the 1.08 line on Tuesday after a weak German consumer confidence report but has recovered in the North American session after soft US data. EUR/USD is currently trading at 1.0840, up 0.20%. Germany is the eurozone's largest economy and is considered the powerhouse of the bloc.

29-08-2023 10:55 GMT by Kenneth Fisher

Japanese yen breaks above 147

The Japanese yen continues to lose ground on Tuesday. In the North American session, USD/JPY is trading at 147.26, up 0.50%.

29-08-2023 09:15 GMT by Kenneth Fisher

Australian dollar edges up ahead of inflation report

US releases consumer confidence and job openings later on Tuesday Australia releases CPI on Wednesday The Australian dollar is in positive territory on Tuesday. In the European session, AUD/USD is trading at 0.6437, up 0.12% on the day. China's woes raising concerns in Australia China's economic slowdown is bad news for the Australian economy, which counts China as its biggest export market.

29-08-2023 07:09 GMT by Kenneth Fisher

Hang Seng Index Technical: Downside pressure has eased

The recent three weeks of -13.90% decline has reached a key medium-term support level of 17,530. The latest reading of its daily MACD trend indicator has indicated a possible pause in the medium-term downtrend movement. Key short-term support to watch will be at 17,970 with intermediate resistances at 18,600 and 18,910. The Hang Seng Index is set to record its worst monthly performance since October 2022 as it recorded a month-to-date loss of -9.70% as of yesterday, 28 August 2023, on the track

28-08-2023 21:44 GMT by Kelvin Wong

Podcast - China property developers' debt woes, US dollar at key juncture as PCE and NFP looms.

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss the current state of China's economy in the light of positive performance seen today, 28 August on the benchmark CSI 300 and Hang Seng stock indices triggered by a 50% reduction in stock trading levy announced on Sunday, its first cut since 2008 Great Financial Crisis. In contrast, China property developers' debt woes still persist as the share price of China Evergrande plunged by 79% on Monday, their first trading day followin

28-08-2023 13:16 GMT by Kelvin Wong

EUR/USD slips to 10-week low after soft German business climate

German business climate falls for fourth consecutive month Fed Chair Powell and ECB President Lagarde address Jackson Hole summit The euro has posted limited gains at the start of the trading week. In the North American session, EUR/USD is trading at 1.0803, up 0.08%. German Ifo Business Climate declines The week ended on a sour note as German Ifo Business Climate fell for a fourth straight month in August to 85.7, down from an upwardly revised 87.4 and shy of the market consensus of 86.7.

28-08-2023 11:30 GMT by Kenneth Fisher

Yen steady as Ueda sticks to script at Jackson Hole

The Japanese yen is trading quietly at the start of the week. In the North American session, USD/JPY is trading at 146.60, up 0.11%. The yen has plunged 3.05% in August against the US dollar and is trading at its lowest levels since November 2022. Powell, Ueda speak at Jackson Hole There was a degree of anticipation as major central bankers gathered at the Jackson Hole summit.

28-08-2023 10:33 GMT by Kenneth Fisher

Retail sales gives Australian dollar brief boost

Australian retail sales rebounds with 0.5% gain Fed's Powell keeps door open to further hikes The Australian dollar started the week with gains but then retreated. In the European session, AUD/USD is trading at 0.6408, up 0.09%.

28-08-2023 07:12 GMT by Kenneth Fisher

AUD/USD Technical: Potential minor countertrend rebound in progress

Medium-term downtrend phase of AUD/USD has reached an oversold condition with downside momentum easing. Key short-term support to watch will be at 0.6385. Intermediate resistance at 0.6490. The price actions of AUD/USD have been oscillating in a medium-term downtrend phase in place since the 17 July 2023 high which has been reinforced by the bearish breakdown of its former medium-term ascending trendline support from 13 October 2022 low on 9 August 2023. So far, the AUD/USD has plummeted by -5

28-08-2023 01:01 GMT by Kelvin Wong

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