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GBP/USD climbs after Bailey’s dovish comments

The British pound is higher on Tuesday. In the North American session, GBP/USD is trading at 1.2650, up 0.43%. Is Bailey turning dovish? With little else on the calendar today, Bank of England Governor Andrew Bailey is front and center.

20-02-2024 11:17 GMT by Kenneth Fisher

Australian dollar shrugs after RBA minutes, China rate cut

The Australian dollar continues to rally and has extended its gains for a fifth successive day. In the European session, AUD/USD is trading at 0.6550, up 0.19%. Minutes: RBA considered raising rates The minutes of the RBA’s February meeting were released earlier today.

20-02-2024 06:23 GMT by Kenneth Fisher

USD/CAD - A quiet start to the week but plenty to come

Canadia inflation expected to have fallen again in January Will the FOMC minutes shed any light on rate cuts? USDCAD higher but momentum remains weak It's no surprise that it's been a quiet start to the week, with both countries observing a bank holiday but several events on the horizon should ensure things pick up. Canadian inflation data on Tuesday is the first of those, with the headline rate expected to have eased slightly in January. While not nearly enough to make the next Bank of Canada

20-02-2024 01:18 GMT by Craig Erlam

AUD/USD Technical: Bulls have failed to break above the 0.6570 resistance

Recent China’s stimulus policies have failed to provide a positive feedback loop for AUD/USD bulls. The recent movement of the AUD/USD seems to be more driven by the fixed income yield spread between the 2-year US Treasury note and the Australian government bond. The pushback in expectations of the first Fed funds rate cut has put downside pressure on the 2-year negative yield spread between the Australian government bond and the US Treasury note. Watch the 0.6570 key short-term resistance for t

20-02-2024 00:56 GMT by Kelvin Wong

Market Insights Podcast - FOMC minutes, flash PMI from Japan, Eurozone & UK are the key focus

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic data and events, notably on the release of the FOMC minutes of the recent January Fed's monetary policy meeting where market participants will be scrutinizing the thoughts and comments of Fed official on the views of US inflationary pressure trajectory given the hotter than expected CPI and PPI prints for January. Meanwhile, China stock market is backed after a 5-day Lunar New Year break, and the Nikkei

19-02-2024 20:48 GMT by Kelvin Wong

New Zealand dollar rises on strong services data

The New Zealand dollar continues to gain ground and has extended its gains for a fourth straight day. In the North American session, NZD/USD is trading at 0.6149, up 0.44%. Services PMI hits 8-month high New Zealand’s BusinessNZ Performance of Services Index improved to 52.1 in January from 48.8 in December, above the forecast of 49.6.

19-02-2024 14:40 GMT by Kenneth Fisher

Australian dollar extends gains, RBA minutes next

The Australian dollar extended its gains for a fourth straight day. In the European session, AUD/USD is trading at 0.6537, up 0.10%. Last Tuesday, the Australian dollar suffered its worst one-day showing of the year, declining by 1.18%, after US inflation was higher than expected, which sent the US dollar surging higher.

19-02-2024 06:38 GMT by Kenneth Fisher

EURJPY Price Action and Technical Analysis Overview

Talking Points: FOMC January 31st, 2024, Meeting Minutes. Technical Analysis EUR/JPY 8-Hour chart Commitment of Traders Report - EUR/JPY OANDA’s Position Ratio Indicator FOMC January 31st, 2024, Meeting Minutes This Wednesday, markets await the FOMC minutes for their latest meeting on January 31st, 2024; it is not expected that there will be any significant surprises in the minutes; however, traders will be searching within the text for indications regarding the Fed’s economic projections and

18-02-2024 11:40 GMT by Moheb Hanna

Market Insights Podcast - US PPI higher, UK retail sales bounce back

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the latest data from the US and UK, and preview the week ahead.

16-02-2024 13:14 GMT by Craig Erlam

Week Ahead North America - FOMC minutes key, Canadian inflation in focus

Is March a live meeting for the Fed? Inflation data in focus as markets eye July BoC rate cut. FOMC minutes could tell us how close they are to rate cuts.

16-02-2024 12:59 GMT by Craig Erlam

Week Ahead Europe - Eurozone inflation and PMI surveys eyed

Is a March rate cut from the ECB still possible? UK surveys eyed as the economy falls into recession.

16-02-2024 10:39 GMT by Craig Erlam

RBNZ’s Orr – Inflation expectations still too high

The New Zealand dollar is drifting on Friday. In the European session, NZD/USD is trading at 0.6110, up 0.08%. Orr pushes back against rate cut expectations The Reserve Bank of New Zealand has made inflation its top priority and the Bank’s steep rate-hiking cycle has brought inflation lower.

16-02-2024 08:02 GMT by Kenneth Fisher

GBP/USD yawns as UK retail sales soar

The British pound has edged lower on Friday. In the European session, GBP/USD is trading at 1.2578, down 0.17%. UK retail sales rebound with 3.4% gain UK retail sales were more than impressive, surging 3.4% m/m in January.

16-02-2024 05:18 GMT by Kenneth Fisher

Nikkei 225 Technical: Eyeing a potential new all-time high

Nikkei 225 has continued its bullish momentum despite a technical recession in the Japanese economy. Current price action is just 0.9% away from its 38,957 all-time high printed in December 1989. Medium-term momentum is overbought but no clear signs of bullish trend exhaustion. Watch the 38,260 key short-term support. This is a follow-up analysis of our prior report, “Nikkei 225: Major bullish breakout from 7-month range with further potential upside in store” published on 10 January 2024. Clic

16-02-2024 01:51 GMT by Kelvin Wong

Yen rises despite GDP contraction

The Japanese yen has improved on Thursday, despite a disappointing GDP report. In the North American session, USD/JPY is trading at 150.12, down 0.31%.

15-02-2024 12:41 GMT by Kenneth Fisher

USD/CAD - Rally stalls again after weaker US retail sales data

US retail sales below expectations at -0.8% in January November and December also revised lower USDCAD falls after briefly breaching resistance There was a big data drop from the US ahead of the opening bell on Wall Street today, with one report in particular getting people's attention. The retail sales data for January were poor. Not only that, they were much poorer than already low expectations.

15-02-2024 10:32 GMT by Craig Erlam

Brent Crude - Oil gives back gains after inventory data

EIA reported inventories rose by 12 million barrels last week Volatility remains amid uncertainty Inverse head and shoulders forms Oil prices remain very volatile and last week's unexpected and substantial inventory build, reported by EIA, further added to that. The price fell sharply after the data and continued earlier today before recouping those losses to trade flat on the session.

15-02-2024 08:33 GMT by Craig Erlam

Empire State Manufacturing Index - EURUSD Technical Analysis Overview

The markets await the Empire State Manufacturing Index this morning; the index is based on surveying a monthly sample of the State’s manufacturing executives and is handled by the Federal Reserve Bank of New York. The index is considered a leading indicator; a reading above zero reflects expansion, and below zero reflects contraction.

15-02-2024 07:51 GMT by Moheb Hanna

Australian dollar shrugs after weak jobs report

The Australian dollar is showing limited movement on Thursday. In the European session, AUD/USD is trading at 0.6496, up 0.07%. Australian job growth flatlines Australia’s employment report was softer than expected, but the Australian dollar didn’t show much reaction.

15-02-2024 06:31 GMT by Kenneth Fisher

GBP/USD - UK in recession but that's unlikely to sway the BoE yet

UK GDP -0.3% in Q4 and -0.1% in December BoE not concerned about recession GBPUSD momentum fading near February lows? The UK fell into recession in the second half of last year after GDP figures for the fourth quarter showed a steeper contraction than expected. While a recession was expected ahead of the release, the fourth quarter number was slightly worse despite December performing better than anticipated.

15-02-2024 04:58 GMT by Craig Erlam

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