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
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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
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
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
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
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
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
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
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
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
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
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
OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic data and events. Firstly, a quick recap on what happened last week week where the initial Fed dovish pivot narrative has been watered down due to a hawkish Fed Speak from Minneapolis Fed President Kashkari that suggested interest rate cuts may not be needed in 2024 coupled with a red-hot US non-farm payroll jobs data for March.
08-04-2024 21:27 GMT
by Kelvin Wong
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08-04-2024 13:00 GMT
by Kenneth Fisher
US Consumer Price Index - CPI
The US Consumer Price Index CPI Y/Y overall trend has been steadily declining after reaching its peak of 9.06% in June 2022. A drop in all CPI components, including Energy, Food, and Durable Goods Prices, mainly drove the decline.
08-04-2024 11:58 GMT
by Moheb Hanna
The euro is calm at the start of the trading week. In the North American session, EUR/USD is trading at 1.0830, down 0.07%.
German industrial production rises 2.1%
Is the German economy coming out of a downswing?
08-04-2024 09:01 GMT
by Kenneth Fisher
The Canadian dollar is showing limited movement on Monday. In the European session, USD/CAD is trading at 1.3598, up 0.06%.
Canada and the US both released March employment reports on Friday, with Canada posting a weak reading while US nonfarm payrolls blew past expectations.
08-04-2024 06:12 GMT
by Kenneth Fisher
Higher oil prices have led to higher inflationary expectations in the US via the breakeven rates.
Recent rise in inflationary expectations coupled with recent “less dovish” Fed Speak from Fed officials Kashkari, and Bostic has revived the “higher for longer” interest rates environment.
Higher commodities prices led by oil may see an uptick in US CPI data.
08-04-2024 04:13 GMT
by Kelvin Wong
The Japanese yen showed a bit of strength earlier but has pared these gains. In the European session, USD/JPY is trading at 151.41, up 0.04%
All eyes on US nonfarm payrolls
The markets are bracing for a sharp drop in US nonfarm payrolls for March.
05-04-2024 06:41 GMT
by Kenneth Fisher
The Canadian dollar is slightly lower on Friday. In the European session, USD/CAD is trading at 1.3559, up 0.12%.
Canada and the US will both release employment data later today, which could mean some volatility from USD/CAD in the North American session.
Employment in Canada is expected to drop to 25,000 in March, a significant decline from the February gain of 40,700.
05-04-2024 05:39 GMT
by Kenneth Fisher