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USD/CAD rises after Bank of Canada rate cut

The Bank of Canada lowered interest rates earlier on Wednesday and the Canadian dollar has lost ground against its US counterpart. In the North American session, USD/CAD is trading at 1.3713, up 0.28%. Bank of Canada cuts cash rate to 4.75% The Bank of Canada took the plunge and cut interest rates for the first time in over four years, lowering the cash rate by 0.25% to 4.75%.

05-06-2024 10:53 GMT by Kenneth Fisher

Euro quiet as German services hits 12-month high

The euro is almost unchanged against the US dollar on Wednesday. EUR/USD is trading at 1.0883 in the North American session, up 0.04% on the day. German, eurozone services PMI accelerate The German services PMI was revised upwards to 54.2 in May, up from the initial estimate of 53.9.

05-06-2024 10:05 GMT by Kenneth Fisher

Hang Seng Index: Improvement in market breadth and southbound flows, the bull run may not be over

Hang Seng Index: Improvement in market breadth and southbound flows, the bull run may not be over Hang Seng Index component stocks that are trading above their respective 200-day moving averages have increased steadily in the past three months. A positive net inflow trend from mainland China investors and traders has developed toward the Hong Kong stock market. China Caixin Services PMI has continued to advance in May which reduces the odds of the deflationary risk spiral being entrenched in C

05-06-2024 08:14 GMT by Kelvin Wong

AUD shrugs as Australian GDP misses estimate

After starting the week with sharp swings, the Australian dollar is showing little movement on Wednesday. AUD/USD is trading at 0.6644 in the European session, down 0.06% on the day. Australian GDP posts 0.1% growth Australia’s GDP was a disappointment, with a gain of just 0.1% q/q in the first quarter.

05-06-2024 08:02 GMT by Kenneth Fisher

AUD/USD slides on weak Australian data, GDP next

The Australian dollar continues to swing sharply this week. AUD/USD is trading at 0.6641 in the North American session, down 0.71% on the day.

04-06-2024 12:03 GMT by Kenneth Fisher

Swiss franc edges higher as inflation holds at 1.4%

The Swiss franc is in positive territory on Tuesday. USD/CHF is trading at 0.8935 in the European session, down 0.24% on the day.

04-06-2024 06:23 GMT by Kenneth Fisher

Market Insights Podcast - Volatile oil prices ex-post OPEC+, ECB and US NFP on the radar for this week

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic data and events. Firstly, OPEC+ members did not extend the voluntary cuts of 2.2 million bpd till end of 2024 but instead only until Q3 2024, oil prices reacted negatively due to incoming influx of more supplies after September 2024. Secondly, market participants have likely fully priced in a 25 bps cut for this coming Thursday, 6 June ECB monetary policy meeting.

04-06-2024 00:19 GMT by Kelvin Wong

Swiss franc climbing, eyes Swiss inflation

Swiss franc has extended its gains on Monday. USD/CHF is trading at 0.8961 in the North American session, down 0.68%. Swiss franc rally continues The Swiss franc posted its strong weekly gain of the year last week, rising 1.35%.

03-06-2024 11:18 GMT by Kenneth Fisher

Nasdaq 100: Bullish reversal remains intact supported by positive momentum in 10-year T-Note futures

Macro factor (10-year US Treasury yield) has likely taken over the driver's seat in dictating the short to medium-term directional movements of the major US stock indices. Last Friday, 31 May key intraday bullish reversals recorded in the S&P 500, Nasdaq 100, and Dow Jones Industrial Average were led by an earlier rally in the 10-year Treasury Note futures that kickstarted in the European session. Watch the key short-term support of 18,340 on the Nasdaq 100. This is a follow-up analysis of our

03-06-2024 11:00 GMT by Kelvin Wong

EUR/USD calm as eurozone manufacturing improves

The euro has posted slight losses on Monday. EUR/USD is trading at 1.0835 in the European session, down 0.11% on the day. Eurozone manufacturing close to stabilizing The eurozone manufacturing sector is still contracting but there is light at the end of the tunnel.

03-06-2024 07:18 GMT by Kenneth Fisher

EUR/USD shrugs as Eurozone CPI higher than expected

The euro has on Friday after edged higher on Friday after eurozone CPI was hotter than anticipated. EUR/USD is trading at 1.0848 in the European session, up 0.27% on the day. Eurozone inflation accelerates in April The inflation rate in the eurozone surprised the markets with a hotter-than-expected release for May.

31-05-2024 10:44 GMT by Kenneth Fisher

Canadian dollar eyes Canadian GDP

The Canadian dollar is showing little movement on Friday, but that could change with the release of Canadian GDP and the US PCE Price index later today. USD/CAD is trading at 1.3660 in the European session, down 0.15% on the day. Canada’s economy expected to have flatlined in March Canada’s economy is expected to have remained unchanged in March, after a weak gain in February of just 0.2% m/m, which was less than expected.

31-05-2024 04:33 GMT by Kenneth Fisher

USD/JPY: JPY cross pairs may get smacked down by higher JGB yields

A further rise in the JGB yields may increase the cost of JPY-funded carry trade strategies. The pace of the JGB yield upmove has increased significantly since March-end. A lower-end offered amount of 425 billion yen for BOJ’s scheduled bond-buying programme on 31 May for JGBs with residual maturity of 5 to 10 years may see a further rally in JGB yields. Watch the key short-term resistance of 158.30 on the USD/JPY. This is a follow-up analysis of our prior report, “USD/JPY: JPY weakness is back

30-05-2024 13:34 GMT by Kelvin Wong

EUR/USD climbs after US GDP, eurozone CPI next

The euro is in positive territory on Thursday. EUR/USD is trading at 1.0840 in the North American session, up 0.37% on the day. Eurozone inflation expected to tick higher to 2.5% The week wraps up with eurozone inflation on Friday.

30-05-2024 11:46 GMT by Kenneth Fisher

Swiss franc jumps as Swiss GDP improves

The Swiss franc has posted strong gains on Thursday after Switzerland’s GDP was hotter than expected. USD/CHF is down 0.83% on the day and is trading at 0.9056 early in the North American session.

30-05-2024 08:51 GMT by Kenneth Fisher

Euro edges lower as German inflation accelerates

The euro is quiet on Wednesday. EUR/USD is trading at 1.0840 in the North American session, down 0.14% on the day. German inflation rises to 2.4% Germany’s inflation rate rose to 2.4% y/y in May, following a 2.2% gain in each of the past two months.

29-05-2024 10:21 GMT by Kenneth Fisher

AUD/USD yawns as CPI higher than expected

The Australian dollar is showing limited movement on Wednesday. AUD/USD is trading at 0.6647 in the European session, down 0.02% on the day at the time of writing. What will it take to shake up the Australian dollar?

29-05-2024 05:49 GMT by Kenneth Fisher

WTI Oil: On track for a potential recovery after 2-month of 12% decline

Recent additional stimulus measures from China, a reduction in elevated net long positioning from large futures speculators & an uptick in geopolitical risk premium may support higher oil prices. Watch the key medium-term support of US$78.40/US$76.60 on WTI crude oil. A break above US$81.70 may trigger a multi-week bullish impulsive upmove in WTI crude oil. This is a follow-up analysis of our prior report, “WTI Oil Technical: Approaching a key medium-term resistance, at risk of a mean reversion

29-05-2024 05:01 GMT by Kelvin Wong

AUD/USD rises after retail sales tick higher

The Australian dollar has edged higher on Tuesday. AUD/USD is trading at 0.6667, up 0.25% on the day at the time of writing. Australia’s retail sales rise 0.1%, CPI next Australian consumers remain frugal and cautious, as retail sales rose just 0.1% m/m April.

28-05-2024 10:08 GMT by Kenneth Fisher

USD/JPY shrugs as Japan’s inflation data a mix

The Japanese yen continues to drift and is showing little movement on Tuesday. USD/JPY is trading at 156.92, up 0.01% on the day at the time of writing. Corporate service prices jumps, BoJ core CPI dips Japanese inflation indicators have been a mix this week.

28-05-2024 05:34 GMT by Kenneth Fisher

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