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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

GBP/USD eyes retail sales

The British pound is having a quiet week and that trend has continued on Thursday . In the North American session, GBP/USD is trading at 1.2450, down 0.04%. Will UK retail sales improve? The UK release retail sales for March on Friday.

18-04-2024 11:33 GMT by Kenneth Fisher

US, Japan express concern over Japanese yen

The Japanese yen is almost unchanged on Thursday. In the North American session, USD/JPY is trading at 154.44, up 0.03%. It’s a light data calendar today.

18-04-2024 09:45 GMT by Kenneth Fisher

Australian dollar shrugs off soft job numbers

The Australian dollar is steady on Thursday. In the European session, AUD/USD is trading at 0.6442, up 0.12%. Australia’s employment declines Australia’s job growth hit the breaks in March and fell by 6,600.

18-04-2024 06:55 GMT by Kenneth Fisher

AUD/USD steadies ahead of employment data

The Australian dollar has stabilized on Wednesday, after a 2.2% decline over the past three days. In the North American session, AUD/USD is trading at 0.62254, up 0.37% but remains close to five-month lows. Australian job growth expected to slide Australia’s employment is expected to post a small gain of 7,200 in March after a blowout gain of 116,500 in February.

17-04-2024 11:34 GMT by Kenneth Fisher

NZ dollar rebounds on sticky inflation report

The New Zealand dollar has bounced back with strong gains on Wednesday, ending a nasty slide of 3.4% which started last week. In the North American session, NZD/USD is trading at 0.5907, up 0.45%. New Zealand inflation falls less than expected New Zealand’s CPI continued to ease in the first quarter but the markets were expecting more.

17-04-2024 10:16 GMT by Kenneth Fisher

GBP/USD rises as UK inflation higher than expected

The British pound has rebounded after sliding 2.1% over the past week. In the European session, GBP/USD is trading at 1.2461, up 0.28%. UK inflation drops to 3.2% Inflation in the UK continues to decline but the March release was not as strong as expected.

17-04-2024 07:46 GMT by Kenneth Fisher

EUR/CHF Technical: Bullish exhaustion condition detected after 2-month of rallies

A bolder dovish ECB increases the likelihood of a yield premium shrinkage of Eurozone sovereign bonds over Switzerland sovereign bonds. The recent 2-month of rallies seen in the EUR/CHF have been overstretched with bearish momentum conditions flashed out. EUR/CHF is at risk of shaping a short-term mean reversion decline within a medium-term uptrend phase. Watch the 0.9755 key short-term pivotal resistance on the EUR/CHF. The recent two months of Euro strength against the CHF has led to a stella

17-04-2024 05:24 GMT by Kelvin Wong

NZ dollar slips ahead of New Zealand inflation

The New Zealand dollar is down for a third straight day and has plunged 3.4% in less than a week. In the North American session, NZD/USD is trading at 0.5881, down 0.36%. New Zealand inflation expected to fall to 4.3% New Zealand’s inflation rate has been dropping and the trend is expected to continue on Wednesday.

16-04-2024 11:42 GMT by Kenneth Fisher

Canadian dollar extends losses as Canada’s inflation rises

The Canadian dollar is down for a fifth straight day and has slipped 1.9% during that time. In the North American session, USD/CAD is trading at 1.3840, up 0.37%. Canada’s inflation rises to 2.9% Canada’s inflation rate for March rose to 2.9% y/y, ticking up from 2.8% in February and above the market forecast of 2.7%.

16-04-2024 10:16 GMT by Kenneth Fisher

Currency war and geopolitical risk are deadly concoctions for risk assets

The odds have inched higher for a currency war scenario where the Chinese yuan may be weakened further to drive export growth due to its latest decelerating growth trend in China’s retail sales and persistent weak housing prices. Export-oriented countries may be forced to enact “beggar-thy-neighbour” typed monetary policies to deliberately weaken their respective currencies. A heightened currency war-liked scenario is likely to trigger another layer of US dollar strength. A persistent US dollar

16-04-2024 07:00 GMT by Kelvin Wong

GBP/USD dips after weak employment data

The British pound dropped 0.30% after today’s UK employment report but has recovered most of these losses. In the European session, GBP/USD is trading at 1.2452, up 0.05%. UK job growth slides, unemployment rises The UK employment report was weaker than expected.

16-04-2024 06:10 GMT by Kenneth Fisher

Market Insights Podcast - Pause in oil rally, UK and Japan inflation, China Q1 GDP are the focus for this week

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic data and events. The possible scenarios on the trajectory oil prices after its 13% rally seen in the past month amid geopolitical tensions in Middle East with fears of tic-for-tact retaliation moves between Israel and Iran.

15-04-2024 21:38 GMT by Kelvin Wong

GBP/USD eyes UK employment release

The British pound is steady on Monday. In the North American session, GBP/USD is trading at 1.2445, up 0.05%. US retail sales climb 0.7% US consumers continue to shop and spend as March retail sales was stronger than expected.

15-04-2024 11:12 GMT by Kenneth Fisher

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