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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

Euro ends slide as industrial production rebounds

The euro has stabilized on Monday after sustaining sharp losses on Friday. In the European session, EUR/USD is trading at 1.0656, up 0.14%.

15-04-2024 08:14 GMT by Kenneth Fisher

NZ dollar slides to five-month low

The New Zealand dollar has stabilized on Monday after as sharp decline of 1% on Friday. In the European session, NZD/USD is trading at 0.5945, up 0.14%.

15-04-2024 06:13 GMT by Kenneth Fisher

Gold Technical: At risk of mean reversion corrective decline after 19% gain

Commitments of Traders aggregate net bullish open positions of large speculators in the Gold futures market have flashed a bearish contrarian condition. The recent rally in Gold (XAU/USD) has been primarily driven by an increase in geopolitical risk premium arising from Middle East tensions.

15-04-2024 03:12 GMT by Kelvin Wong

NZ dollar slips as manufacturing softens

The New Zealand dollar is down sharply on Friday. In the North American session, NZD/USD is trading at 0.5956, down 0.68%.

12-04-2024 09:02 GMT by Kenneth Fisher

Euro can’t find its footing after ECB pause

The euro continues to stumble and is down for a fourth straight day. In the European session, EUR/USD is trading at 1.0653, down 0.67%.

12-04-2024 07:20 GMT by Kenneth Fisher

US DJIA Technical: Major US banks' Q1 earnings in the focus over adverse macro factors

Three major US banks; JPMorgan Chase, Citigroup, and Wells Fargo will report their Q1 2024 earnings results today. JPMorgan Chase is ranked 13th in terms of component weightage in the DJIA. Analysts’ Q1 earnings estimates for these three US banks have been lowered which increases the possibility of positive earnings surprises. Technical analysis suggests a potential short-term mean reversion rebound scenario on the DJIA after 10 days of decline. Watch DJIA’s key short-term support of 38,200/060.

12-04-2024 05:57 GMT by Kelvin Wong

Pound slips to 4.5-month low, UK GDP ticks higher

The British pound has edged lower on Friday. In the European session, GBP/USD is trading at 1.2594, down 0.47%.

12-04-2024 05:55 GMT by Kenneth Fisher

Australian dollar steadies after sharp slide

The Australian dollar has stabilized on Thursday. In the North American session, AUD/USD is trading at 0.6524, up 0.19%.

11-04-2024 10:28 GMT by Kenneth Fisher

Canadian dollar gets spanked, BoC holds rates

The Canadian dollar is almost unchanged on Thursday, after sliding 0.8% a day earlier. In the European session, USD/CAD is trading at 1.3569, up 0.04%. BoC holds interest rates There were no surprises from the Bank of Canada, which maintained the cash rate at 5%.

11-04-2024 08:07 GMT by Kenneth Fisher

Euro stabilizes ahead of ECB decision

The euro is steady on Thursday, after sliding over 1% on Wednesday following the hot US inflation report. In the European session, EUR/USD is trading at 1.0745, down 0.03%. ECB widely expected to hold rates The European Central Bank meets later today and is widely expected to hold the deposit rate at 4% for a fifth straight time.

11-04-2024 05:39 GMT by Kenneth Fisher

USD/JPY Technical: Rising US Treasury-JGB yield spreads outweigh BoJ’s intervention risk

A firmer March’s US CPI has altered the relative fundamentals narrative between the US & Japan. Reduces the risk of FX intervention from Japanese authorities to prop up a weaker JPY due to the lack of supporting fundamentals. The bullish reversal seen in the 10-year yield spread of the US Treasury over JGB may act as an impetus to support further US dollar strength. Watch the next intermediate resistances of 153.50 & 154.25 on the USD/JPY. This is a follow-up analysis of our prior report,

11-04-2024 05:35 GMT by Kelvin Wong

EUR/USD Outlook Ahead of ECB Main Refinancing Rate and Monetary Policy

Talking Points European Central Bank – ECB US Consumer Price Index – US CPI EUR/USD Technical Analysis - Weekly Chart EUR/USD has been grappling with significant pressure over the past few weeks, caught between the influence of inflation data and the ongoing speculation on the USA and Euro Zone interest rate paths. Since January 1st, 2024, the pair has been trading within a range as high as 1.1000 and as low as 1.0700.

11-04-2024 00:07 GMT by Moheb Hanna

Australian dollar slides on hot US inflation report

The Australian dollar has declined sharply on Wednesday. In the North American session, AUD/USD is trading at 0.6515, down 1.7%. US inflation higher than expected at 3.5% The US consumer price index has accelerated for a second straight month.

10-04-2024 11:36 GMT by Kenneth Fisher

Canadian dollar calm ahead of BoC decision

The Canadian dollar is slightly lower on Wednesday. In the European session, USD/CAD is trading at 1.3559, down 0.09%. Bank of Canada expected to stay pat The Bank of Canada is widely expected to hold the cash rate at 5.0% at today’s meeting.

10-04-2024 07:33 GMT by Kenneth Fisher

NZ dollar rises as RBNZ pauses

The New Zealand dollar has extended its gains on Wednesday and is higher for a third straight day. In the North American session, NZD/USD is trading at 0.6074, up 0.24%. RBNZ holds rates, says economy weak There was little drama from the Reserve Bank of New Zealand’s meeting on Wednesday, as the decision to pause was widely expected.

10-04-2024 05:12 GMT by Kenneth Fisher

NZ dollar climbs ahead of RBNZ rate decision

The New Zealand dollar has posted considerable gains on Tuesday. In the North American session, NZD/USD is trading at 0.6065, up 0.54% and its highest level since March 21. RBNZ widely expected to hold cash rate The Reserve Bank of New Zealand meets early on Wednesday and it’s practically a given that it will hold the cash rate at 5.5%.

09-04-2024 09:23 GMT by Kenneth Fisher

Australian dollar extends gains despite soft confidence data

The Australian dollar is in positive territory on Tuesday. In the European session, AUD/USD is trading at 0.6620, up 0.25%. Consumer confidence sags Australian consumers have been pessimistic about the economy and their mood soured even more in April.

09-04-2024 07:53 GMT by Kenneth Fisher

Japanese yen steady as intervention worries continue

The Japanese yen is drifting on Tuesday. In the European session, USD/JPY is trading at 151.88, up 0.02%. It’s as light data calendar today.

09-04-2024 05:25 GMT by Kenneth Fisher

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