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The euro is slightly lower on Tuesday. In the North American session, EUR/USD is trading at 1.0703, down 0.17%. Eurozone GDP climbs, inflation dips The eurozone economy expanded by 0.3% q/q in the first quarter, the highest rate since the third quarter of 2022.

30-04-2024 10:31 GMT by Kenneth Fisher

EUR/USD: Sideways within a medium-term downtrend

Eurozone preliminary core CPI rate for April continued to inch lower at 2.7% y/y, its slowest pace of inflationary pressure since February 2022. 2-year and 10-year Eurozone sovereign bonds/US Treasuries yield spread discounts have continued to widen which supports a potential medium to long-term bearish trend on the EUR/USD. Watch the 1.0740 key short-term resistance on the EUR/USD ahead of the Fed’s monetary policy decision on 1 May. Since its December 2023 high of 1.1140, the EUR/USD has tra

30-04-2024 07:16 GMT by Kelvin Wong

USD/JPY stabilizes after roller-coaster Monday

The Japanese yen is lower on Tuesday. In the European session, USD/JPY is trading at 156.88, up 0.34%. It has been a relatively quiet day for the yen after massive movement over the past two days.

30-04-2024 06:09 GMT by Kenneth Fisher

USD/JPY: An overextended intraday rally makes it vulnerable to a squeeze down with rumoured talks of FX intervention

USD/JPY extended its rally to hit 159.60 key long-term resistance (also the April 1990 secular swing high). Today’s Asian session's swift upmove in USD/JPY has led to an increase in its volatility condition which increases the risk of FX intervention. Abrupt intraday movement in USD/JPY that wiped out earlier intraday gains has the hallmark of a suspected FX intervention. This is a follow-up analysis of our prior report, “USD/JPY: Persistent JPY bearish trend intact despite growing intervention

29-04-2024 03:26 GMT by Kelvin Wong

Australian dollar extends gains as PPI surges

The Australian dollar has posted four straight winning sessions this week and is in positive territory on Friday. In the European session, AUD/USD is trading at 0.6534, up 0.24%.

26-04-2024 07:24 GMT by Kenneth Fisher

Swiss franc shrugs after SNB’s Jordan comments

The Swiss franc is steady on Friday. In the European session, USD/CHF is almost unchanged at 0.9118. It has been quite a ride for the Swiss franc, which hit eight-year highs against the US dollar in the last week of 2023.

26-04-2024 05:58 GMT by Kenneth Fisher

USD/JPY volatile after inflation, BoJ meeting

The Japanese yen is swinging sharply on Friday. In the European session, USD/JPY is trading at 156.46, up 0.52%. It has been a busy Friday in Japan.

26-04-2024 04:43 GMT by Kenneth Fisher

USD/JPY: Persistent JPY bearish trend intact despite growing intervention risk

Tokyo’s core-core inflation for April came in at 1.8% y/y, its slowest pace of increase since September 2022 & below BoJ’s inflation target of 2%. The latest set of softer-than-expected Tokyo’s CPI may push back the timing of the next BoJ’s interest rate hike. Widening of US Treasuries-JGBs yield spread premium is likely to support a further potential upmove in the USD/JPY. The current upmove in USD/JPY since mid-March 2024 has been accompanied by a lower volatility condition versus its more abr

25-04-2024 22:38 GMT by Kelvin Wong

Pound edges higher after soft US GDP

The British is in positive territory on Thursday. In the North American session, GBP/USD is trading at 1.2492, up 0.23%. US GDP slows to 1.6% Is the US economy finally slowing down?

25-04-2024 10:46 GMT by Kenneth Fisher

USD/JPY ticks higher ahead of BoJ meeting

The Japanese yen continues to lose ground on Thursday. In the European session USD/JPY is trading at 155.61, up 0.17%.

25-04-2024 06:52 GMT by Kenneth Fisher

Euro rises after German consumer confidence improves

The euro has edged higher on Thursday. In the European session, EUR/USD is trading at 1.0726, up 0.25%. German consumer confidence hits two-year high Germany’s GfK Consumer Climate index improved in April and again in the May forecast, as the German consumer is showing signs of optimism.

25-04-2024 05:15 GMT by Kenneth Fisher

Canadian dollar dips as retail sales fall

The Canadian dollar is in negative territory on Wednesday after a five-day winning streak in which it gained 1.1%. In the North American session, USD/CAD is trading at 1.3703, up 0.29%. Canada’s retail sales down in February Canadian consumers are holding tight on the purse strings as spending has been weak in the first quarter.

24-04-2024 14:08 GMT by Kenneth Fisher

AUD/USD extends gains as inflation higher than expected

The Australian dollar has edged higher on Wednesday. In the European session, AUD/USD is trading at 0.6504, up 0.27%.

24-04-2024 08:42 GMT by Kenneth Fisher

Euro edges lower despite stronger German business confidence

The euro is slightly lower on Wednesday. In the European session, EUR/USD is trading at 1.0685, down 0.16%. Germany shows signs of optimism Germany’s Ifo Business Climate index rose to 89.4 in April, up from a revised 87.9 in March and above the market estimate of 88.9.

24-04-2024 06:19 GMT by Kenneth Fisher

Gold Technical: Is the bull run over after its worst daily decline in 2 years?

This is a follow-up analysis of our prior report, “Gold Technical: At risk of mean reversion corrective decline after 19% gain” published on 15 April 2024. Click here for a recap. The price actions of Gold (XAU/USD) have shaped the mean reversion decline after a test on the US$2,420 intermediate resistance.

24-04-2024 05:37 GMT by Kelvin Wong

Market Insights Podcast - BOJ, AU inflation, US PCE and US Magnificent 7 stocks earnings in the focus

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic data and events. Firstly, Australia's monthly CPI (March) out on Wednesday (24 Apr) is expected to come in at a similar annualized pace of 3.4% as printed in February, its lowest reading since November 2021.

22-04-2024 21:29 GMT by Kelvin Wong

SPX 500: How low can the correction go?

The S&P 500 has recorded three consecutive weekly losses since its recent all-time high level of 5,265 printed on 28 March 2024. Last week's decline of -3.05% was its worst weekly performance since early March 2023. A clear break below its upward-sloping 50-day moving average put its medium-term uptrend phase in jeopardy. The current multi-week corrective decline sequence may be extended further as its key market breadth indicator (% of component stocks above 50-day moving average) has not reach

22-04-2024 07:12 GMT by Kelvin Wong

Euro edges higher, ECB eyes June cut

Euro recovers after dip The euro fell as much as 0.30% earlier but has recovered and edged higher. In the North American session, EUR/USD is trading at 1.0666, up 0.21%.

19-04-2024 10:14 GMT by Kenneth Fisher

USD/JPY jumpy as Japan’s core CPI eases

The Japanese yen showed some promise earlier, gaining as much as 0.48% against the US dollar as it rose to 153.59. However, it has pared those gains and is trading in Europe at 154.58, down 0.04%. Japan's core CPI falls to 2.6% Japan’s nationwide CPI, which excludes fresh food, rose 2.6% y/y in March, down from 2.8% in February but higher than the market estimate of 2.7%.

19-04-2024 07:54 GMT by Kenneth Fisher

GBP/USD edges higher after flat retail sales

The British pound dipped 0.30% earlier today but has managed to recover the losses. In the European session, GBP/USD is trading at 1.2451, up 0.12%. Retail sales misses estimate The UK release retail sales were flat in March, after a revised 0.1% gain in February and missing the market estimate of 0.3%.

19-04-2024 05:35 GMT by Kenneth Fisher

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