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EUR/AUD Technical: AUD weakness stalling after RBA's cautionary stance on inflation
Despite a recent slowdown in Australia’s monthly CPI for December 2023, the Australian central bank, RBA has chosen to remain on the cautious side and push back rate cut expectations. RBA’s monetary policy statement has stated that service inflation may remain sticky on the high side, and overall inflation may take some time to reach RBA’s target of 2% to 3%. Last week’s AUD weakness against the US dollar has started to taper off intraday, supported by the renewed hawkish vibes from RBA.
07-02-2024 06:26 GMT by Kelvin Wong
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NZD/USD shrugs after NZ employment report
New Zealand's unemployment rises, wages ease The New Zealand dollar is drifting on Wednesday, after jumping 0.73% a day earlier. In the North American session, NZD/USD is trading at 0.6104, up 0.12%. New Zealand's employment change rises New Zealand's employment report for the fourth quarter indicated that the labour market remains relatively strong.
07-02-2024 04:50 GMT by Kenneth Fisher
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GBP/USD - Breaks key support amid strong US economic figures
Traders pare rate cut expectations after strong US data UK households remain cautious with spending in December GBPUSD breaks quadruple top neckline The US economy is going from strength to strength, complicating the Federal Reserve's intentions to cut interest rates multiple times this year. The jobs report on Friday was red hot, with the wages component particularly problematic from a central bank perspective as it looks for further evidence that inflation is returning sustainably to target.
06-02-2024 12:14 GMT by Craig Erlam
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NZD/USD calm ahead of NZ job data
New Zealand's job growth expected to rise to 0.2% The New Zealand dollar is showing limited movement on Tuesday. Early in the North American session, NZD/USD is trading at 0.6052, down 0.03%. New Zealand job growth expected to rebound New Zealand releases the fourth-quarter employment report later today.
06-02-2024 09:00 GMT by Kenneth Fisher
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Australian dollar yawns as RBA stands pat
The Australian dollar is showing limited movement on Tuesday, after the Reserve Bank of Australia held interest rates. In the European session, AUD/USD is trading at 0.6493, up 0.61%. RBA maintains rates The RBA left interest rates unchanged at 4.35% at its first meeting of 2024.
06-02-2024 06:52 GMT by Kenneth Fisher
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Japanese yen extends losses, spending and income next
The Japanese yen continues to lose ground in the aftermath of the US nonfarm payroll report, which was much stronger than expected. In the North American session, USD/JPY is trading at 148.88, up 0.33%. Yen tumbles after hot US nonfarm payrolls The US dollar ended the week on a high note, courtesy of nonfarm payrolls soaring to 353 thousand in January, crushing the market estimate of 180,000.
05-02-2024 09:45 GMT by Kenneth Fisher
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Aussie slides after hot US nonfarm payrolls
The Australian dollar has fallen almost 1% after the US nonfarm payrolls and has given up today's earlier gains. In the North American session, AUD/USD is trading at 0.6644, down 0.40%. The US dollar has started 2024 on the right foot, recording gains against most of the major currencies in the month of January.
02-02-2024 09:04 GMT by Kenneth Fisher
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Canadian dollar eyes US nonfarm payrolls
The Canadian dollar is drifting but things could get busier in the North American session as the US releases the nonfarm payrolls report. In the European session, USD/CAD is trading at 1.3371, down 0.11%. US nonfarm payrolls expected to drop to 180,000 The week wraps up with the US nonfarm payroll report later today.
02-02-2024 06:16 GMT by Kenneth Fisher
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EUR/USD gains ground as eurozone CPI dips
EUR/USD has edged higher in the European session and trading at 1.0890, up 0.18% on the day. The euro had a strong day on Thursday, gaining 0.50%. Eurozone CPI eases to 2.8% Inflation continues to fall in the eurozone, although the drop was very modest.
02-02-2024 05:25 GMT by Kenneth Fisher
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GBP/USD: Poised for potential bullish breakout ex-post BoE
BoE offered dovish guidance but projected that inflation may run hot again in Q1 2025. GBP has remained the top outperformer major currency against the US dollar. Technical analysis suggests a potential bullish breakout for GBP/USD. The British pound sterling (GBP) made remarkable intraday recovery yesterday after the Bank of England (BoE) maintained its policy Bank Rate at a 16-high of 5.24% for the fourth consecutive time as expected and toned down its prior hawkish rhetoric.
02-02-2024 02:32 GMT by Kelvin Wong
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British pound higher as BoE holds rates
The British pound is higher on Thursday. In Tuesday's North American session, GBP/USD is trading at 1.2731, up 0.32%. BoE holds rates in a three-way split The Bank of England maintained the benchmark rate at 5.25% at today's meeting, as expected.
01-02-2024 12:36 GMT by Kenneth Fisher
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JPY carry trades downside pressure reinforced ex-post FOMC
The US Federal Reserve pushed back the first Fed funds rate cut and Fed Chair Powell indicated that the “highly anticipated” March rate cut is not the base case for now. The dovish Fed Pivot narrative is still alive as both the 2-year and 10-year Treasury yields continued to inch lower and closed near their session lows. The continuation of down-trending US Treasury yields put pressure on JPY carry trades indirectly; AUD/JPY is the worst performing among the G-10 currencies so far. This is a fo
01-02-2024 05:32 GMT by Kelvin Wong
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