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EUR/USD - Three-month low after US inflation disappointment
US inflation falls less than expected Fed rate cuts scaled back in markets EURUSD falls and momentum builds This is not the inflation report that the Federal Reserve wanted to see and markets have responded accordingly. Inflation in January was hotter than expected across the board. The headline and core monthly readings printed at 0.3% while the annual readings came in at 3.1% and 3.9%, respectively. While an improvement at the headline level, it's less so than markets were positioned for an
13-02-2024 12:45 GMT by Craig Erlam
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EUR/GBP - A step in the right direction for the UK but BoE will remain cautious
UK wage growth slows to 5.8% (inc bonus) and 6.2% (exc bonus) in December CPI eyed tomorrow with UK expected to be confirmed as in recession on Thursday EURGBP sell-off accelerates in key support zone The UK continues to make progress toward being able to cut interest rates but as has been the case throughout the last couple of years, the process is not straightforward. The good news is that wage growth is slowing at a good pace after peaking last summer and near-term trends are very p
13-02-2024 09:20 GMT by Craig Erlam
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GBP/JPY - Testing highs ahead of key UK economic data
UK wage growth key to BoE sustainably hitting inflation target GBPJPY struggling near recent highs Divergence points to loss of momentum The coming days offer several important data points for the UK that could help determine when the Bank of England starts cutting interest rates and, by extension, where the currency is headed in the coming months. The jobs report on Tuesday is always widely followed but with the unemployment component less reliable than normal, it's the average earnings that
12-02-2024 15:36 GMT by Craig Erlam
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GBP/USD eyes Bailey, jobs report
The British pound is showing limited movement at the start of the week. In Monday's North American session, GBP/USD is unchanged at 1.2629. Bank of England Governor Andrew Bailey will speak at a public event later today and the markets will be listening carefully, looking for hints about the BoE's future rate path.
12-02-2024 09:17 GMT by Kenneth Fisher
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NZD/USD dips despite hawkish RBNZ
RBA's Orr says high rates still needed New Zealand releases inflation Expectations on Tuesday The New Zealand dollar is lower on Monday. In  the European session, NZD/USD is trading at 0.6127, down 0.35%.
12-02-2024 07:28 GMT by Kenneth Fisher
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USD/CAD dips as Canadian employment shines
Canadian employment jumps, wage growth falls USD/CAD edges lower The Canadian dollar has climbed higher in the North American session after the release of Canada's January employment report. In the North American session, USD/CAD is trading at 1.3432, down 0.20%. Canada's job growth beats forecast Canada usually posts employment reports on the same Friday as the US, but had the stage all to itself today, as the US posted its job report last week.
09-02-2024 09:08 GMT by Kenneth Fisher
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USD/CAD - Rebound running on fumes ahead of Canadian employment data
US jobless claims no longer trending lower Canadian unemployment expected to rise again USDCAD running low on momentum near key resistance The US dollar has performed well recently, buoyed by some strong US economic figures that have forced traders to pare back rate cut expectations. Markets ended last year expecting 150 basis points of rate cuts from the Federal Reserve this year and despite briefly rising to 175, it's now pulled back closer to 125. While it's still likely to fluctuate furthe
08-02-2024 11:32 GMT by Craig Erlam
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EUR/USD eyes German inflation
EUR/USD is slightly lower on Wednesday. In the North American session, the euro is trading at 1.0751, down 0.20%. German inflation expected at 0.2% Germany's CPI is expected at 0.2% m/m on Friday, which would confirm the initial estimate from two weeks earlier.
08-02-2024 09:27 GMT by Kenneth Fisher
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Australian dollar dips as China's inflation declines
The Australian dollar has edged lower after China posted a soft inflation report. In the European session, AUD/USD is trading at 0.6509, down 0.18%. The new year hasn't brought much cheer to the Australian dollar, which hasn't had a winning week in 2024.
08-02-2024 05:21 GMT by Kenneth Fisher
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A modest silver lining for China and Hong Kong stock markets
China's CPI continued to deflate in January to -0.8% y/y from -0.3% y/y in December 2023 while the pace of contraction has slowed slightly in PPI (factory gate prices) to -2.5% y/y from -2.7% y/y in December. The spread of PPI over CPI has widened which in turn may see a turnaround in the current negative profitability growth rate of China’s industrial enterprises. Technical analysis suggests the minor countertrend rally in the Hang Seng Index may extend.
08-02-2024 01:50 GMT by Kelvin Wong
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GBP/USD - A bearish reversal at a key Fib level?
Fed policymakers sticking to the script US data continues to point to a strong economy Fib rebound may suggest we've seen a correction in GBPUSD It isn't the busiest week as far as UK and US economic data is concerned but there are still a few pieces worth keeping an eye on. As well as, of course, the scattering of central bank speak. So far, policymakers appear to remain consistent with the message from the last meeting despite Friday's surprisingly strong jobs report. The services PMI on Mo
07-02-2024 17:23 GMT by Craig Erlam
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