The New Zealand dollar has declined sharply on Wednesday. In the North American session, NZD/USD is trading at 0.5685, down 1.2% on the day.
18-12-2024 14:34 GMT
by Kenneth Fisher
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Oil prices rose due to lower-than-expected US crude oil stockpiles, but demand concerns remain.
OPEC+ is worried about a potential increase in US oil output under a Trump presidency.
From a technical perspective, oil prices are range-bound, and range trading might remain in play heading into 2025.
Most Read: USD/JPY rises ahead of BoJ meeting
Oil prices arrested a two day s;ump today to trade around 1% higher heading into the FOMC meeting.
18-12-2024 13:02 GMT
by Zain Vawda
The Japanese yen has edged lower on Wednesday. In the North American session, USD/JPY is trading at 154.08, up 0.37% on the day.
18-12-2024 12:22 GMT
by Kenneth Fisher
British pound is showing little movement on Wednesday. Early in the North American session, GBP/USD is trading at 1.2679, down 0.07% on the day.
UK inflation climbs to 2.6%
Inflation in the UK climbed to 2.6% in November, its highest level since March.
18-12-2024 08:43 GMT
by Kenneth Fisher
The FOMC meeting today is highly anticipated due to uncertainty surrounding future US monetary policy.
Markets expect a 25 bps rate cut today and a slower pace of easing in 2025 due to President-elect Trump's policies.
The Fed's reverse repo rate may be adjusted, potentially impacting the US Dollar's strength.
Most Read: Gold (XAU/USD) Traders Await Fed Meeting: Will Prices Rally or Fall?
The FOMC meeting today is key as interest rate meetings tend to be from the US. However, today's meeting is
18-12-2024 05:17 GMT
by Zain Vawda
The Canadian dollar continues to lose ground. In the North American session, USD/CAD is trading at 1.4315, up 0.48% at the time of writing.
17-12-2024 12:18 GMT
by Kenneth Fisher
Gold prices have dropped due to increased US Treasury yields, profit-taking, and the anticipation of a less dovish Fed outlook for 2025.
The upcoming Fed meeting and its economic projections, especially regarding rate cuts, will significantly impact gold prices.
India's gold imports are expected to decline in December due to a lack of festivals and rising gold prices.
17-12-2024 11:44 GMT
by Zain Vawda
The Australian dollar is down sharply on Tuesday. In the North American session, AUD/USD is trading at 0.6337, down 0.52% at the time of writing.
Consumer confidence slides
Australia's Westpac consumer confidence index declined by 2% in December, from 94.6 to 92.2.
17-12-2024 10:55 GMT
by Kenneth Fisher
The British pound is showing little movement on Tuesday, after jumping 0.57% a day earlier. In the European session, GBP/USD is trading at 1.2698, up 0.13% on the day.
UK wage growth higher than expected
UK wage growth excluding bonuses climbed 5.2% y/y in the three months to October, up from an upwardly revised 4.4% in the previous period and well above the market estimate or 4.6%.
17-12-2024 07:31 GMT
by Kenneth Fisher
The euro is slightly higher on Monday. In the North American session, EUR/USD is trading at 1.0500, up 0.02% at the time of writing.
Mixed PMI eurozone report
There was mixed news from Eurozone PMIs today.
16-12-2024 11:29 GMT
by Kenneth Fisher
Markets are pricing in a less than 20% chance of a BoJ rate hike this Thursday, despite earlier expectations of a 70% probability.
JPY weakness has resumed as rate hike expectations have fallen, potentially pushing the BoJ to act.
USD/JPY shows strong bullish momentum, but a BoJ hike could lead to a significant decline.
A surprise rate hike by the BoJ could strengthen the JPY significantly, with more room for gains against the GBP than the USD.
16-12-2024 09:29 GMT
by Zain Vawda
The British pound has moved higher on Monday, after declining 1% last week. In the European session, GBP/USD is trading at 1.2747, up 0.30% on the day.
UK Services improves, manufacturing slips
The UK Services PMI rose to 51.4 in December, up from 50.8 in November, which was a 13-month low.
16-12-2024 07:07 GMT
by Kenneth Fisher
The proposed policies of Trumponomics 2.0 may ignite a further uptick in inflationary expectations in the US.
Market-transacted inflationary expectations gauge, the 5-year and 10-year US breakeven inflation rates have been trending higher since September 2024.
The Fed may switch its current dovish monetary policy to a “wait and see” pivot stance on 18 December FOMC.
Watch the US$2,716 key medium-term resistance on Gold (XAU/USD).
16-12-2024 05:38 GMT
by Kelvin Wong
Markets had a volatile week, with US 100 (Nasdaq 100) reaching new highs and a strong likelihood of a Fed rate cut next week.
Major central bank meetings dominate the week ahead.
The BoJ faces a tough decision on whether to raise interest rates, with recent data supporting a hike.
The US Dollar Index (DXY) is at a crucial resistance level, and its performance may be influenced by the Fed's interest rate decision and outlook.
13-12-2024 11:42 GMT
by Zain Vawda
RBA has shifted to a less hawkish monetary policy stance.
The interest rate swaps market has started to price in a higher chance of the first RBA interest rate cut to come in February 2025.
The 2-year and 10-year yield spreads between Australian government sovereign bonds and US Treasuries continued to narrow.
Growing risk for AUD/USD to stage a major bearish breakdown below 0.6360.
This is a follow-up analysis of our prior report “AUD/USD: “Trump Trade” overshadowed a cautiously hawkish RBA, a
13-12-2024 03:51 GMT
by Kelvin Wong
The ECB implemented a 25bps rate cut, with some policymakers favoring a larger 50bps cut, and signaled potential for further cuts in the upcoming meetings.
The BoE is expected to hold rates at its next meeting, and market participants are watching for indications of fewer rate cuts in 2025.
EUR/USD is struggling to maintain levels above 1.0500, and GBP/USD faces potential downside below 1.2654.
Most Read: Brent Crude – Oil Prices Rise Despite Largest OPEC Forecast Cuts of 2024
EUR/USD and Cable
12-12-2024 15:55 GMT
by Zain Vawda
The Swiss franc is down on Thursday following the Swiss National Bank rate announcement. In the North American session, USD/CHF is trading at 0.8880, up 0.43% 80on the day at the time of writing.
Swiss National Bank chops by 50 basis points
Today's Swiss National Bank meeting was live, with the market uncertain as whether the SNB would cut rates by 25 or 50 basis points.
12-12-2024 10:23 GMT
by Kenneth Fisher
Oil prices rose despite OPEC downgrading its 2024 and 2025 global oil demand growth forecasts.
The downgrade is attributed to China's slower demand and the rise of electric vehicles.
The EU and US are considering further sanctions on Russia's oil trade, underpinning prices.
Most Read: USD/CHF edges up ahead of SNB rate decision
Oil prices continued its steady move higher on Wednesday, up around 1.27% at the time of writing.
11-12-2024 12:27 GMT
by Zain Vawda
The Swiss franc is slightly lower on Wednesday. In the European session, USD/CHF is trading at 0.8845, up 0.19% on the day.
Swiss National Bank cut looms, but how much?
'Tis the season of central bank decisions, with four major central banks making rate announcements this week.
11-12-2024 11:49 GMT
by Kenneth Fisher
The Canadian dollar is drifting on Wednesday, ahead of the Bank of Canada rate decision later today. In the European session, USD/CAD is trading at 1.4181, up 0.10% at the time of writing.
BoC expected to slash rates by 50 basis points
The Bank of Canada is widely expected to end the year on a bang with a dramatic 50-bp cut at today's rate meeting. The markets have priced in a 50-bp cut at 90%, so it would be a massive surprise if the BoC opts for a modest cut of 25 basis points.
11-12-2024 07:27 GMT
by Kenneth Fisher