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Market Insights Podcast - FOMC, BOE, and US NFP to stand out in this busy week

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this pivotal week's key economic data and events which may trigger higher volatile movements in the global markets due to the anticipation of market participants' dovish expectations on the forward guidance from the Fed and Bank of England due on Wednesday (31 January), and Thursday (1 February). Also, keep a lookout for the potential negative ramifications of China Evergrande Group's liquidation order by a Hong Kong court, a ma

29-01-2024 23:00 GMT by Kelvin Wong

GBP/USD - Consolidation as traders eye BoE and Fed meetings

Fed could signal a March rate cut is on the cards Will the BoE forecasts offer any insight on interest rates? Cable continues to consolidate ahead of central bank meetings This is widely expected to be the year of rate cuts for major central banks after a period of aggressive tightening that will soon get inflation back to target. Going into 2024, traders became incredibly optimistic about how many rate cuts we could see this year.

29-01-2024 13:27 GMT by Craig Erlam

EUR/USD - Drifting lower ahead of a big week for the US

Fed statement and press conference key this week US jobs report eyed, wages in particular EURUSD bearish momentum increases

29-01-2024 12:31 GMT by Craig Erlam

Euro starts week with losses

The euro is lower on Monday. In the North American session, EUR/US is trading at 1.0806, down 0.44%. When will ECB cut rates? There were no surprises from the European Central Bank, which maintained the benchmark rate at 4.0% at last week's meeting.

29-01-2024 12:12 GMT by Kenneth Fisher

AUD/USD eyes retail sales

The Australian dollar is in positive territory on Monday after an uneventful week. In the European session, AUD/USD is trading at 0.6603, up o.41%. Australian retail sales expected to downturn The markets are braced for a soft retail sales report on Tuesday, with December's consensus estimate standing at -1.0%.

29-01-2024 08:26 GMT by Kenneth Fisher

Swiss franc recovering, but will SNB shift policy?

The Swiss franc has edged higher on Monday. In the European session, USD/CHF is trading at 0.8618, down 0.25%. SNB concerned about Swiss franc's surge The Swiss National Bank isn't shy about intervening on the currency markets, as it views intervention as an important tool to keep the Swiss franc competitive for export purposes.

29-01-2024 05:43 GMT by Kenneth Fisher

Gold: Pivotal week after being sandwiched by opposing factors

Higher US 10-year Treasury real yield and rising geopolitical risk premium have created a floor and cap for Gold (XAU/USD) at US$2,000 and US$2,040 respectively. Historical volatility of Gold (XAU/USD) has slipped to a 4-month low, increasing the odds of an impending volatility breakout scenario. The direction of the volatility breakout is likely to be reinforced by this Wednesday’s FOMC monetary policy guidance. Positive momentum has started to emerge ahead of FOMC.

29-01-2024 01:02 GMT by Kelvin Wong

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Market Insights Podcast - ECB holds, US inflation, Fed

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss today's inflation data from the US, the ECB meeting and next week in the markets.

26-01-2024 18:41 GMT by Craig Erlam

USD/CAD - US spending data boost the greenback

US PCE m/m 0.2%, core PCE m/m 0.2% US spending increases 0.7% in December USDCAD doesn't break double top neckline Inflation, income and spending data for the US was released on Friday and broadly speaking the numbers were in line with expectations, with one outlier. Spending last month increased 0.7%, comfortably exceeding the 0.5% that was expected. It also came on top of the upward revision to the November reading, which increased to 0.4% from 0.2% previously.

26-01-2024 10:09 GMT by Craig Erlam

British pound rises as consumer confidence rises, US inflation falls

The British pound is higher on Friday. In the North American session, GBP/USD is trading at 1.2751, up 0.34%. UK consumer confidence rises The UK consumer remains in a sour mood but the pessimism eased in January.

26-01-2024 09:14 GMT by Kenneth Fisher

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Hedging the Markets - EUR/USD edges lower after "dovish" ECB (video)

OANDA Senior Market Analyst Craig Erlam looks at how EURUSD responded to the ECB announcement and press conference and what markets took from it.

26-01-2024 09:05 GMT by Craig Erlam

Euro edges higher as markets digest ECB pause

The euro is in positive territory on Friday. In the European session, trading at 1.0846 in the European session. ECB maintains interest rates To nobody's surprise, the European Central Bank left its benchmark rate unchanged at 4.0% on Thursday.

26-01-2024 06:37 GMT by Kenneth Fisher

USD/JPY steady after Tokyo Core CPI falls below 2%

The Japanese yen is drifting on Friday. In the European session, USD/JPY is trading at 147.80, up 0.10%. Tokyo Core CPI falls to 1.6% Tokyo Core CPI reached a significant milestone today, falling to 1.6% y/y in January, after a December reading of 2.1%.

26-01-2024 04:09 GMT by Kenneth Fisher

WTI Oil Technical: Approaching a key medium-term resistance, at risk of a mean reversion decline

WTI crude oil has started to evolve into a short-term uptrend phase reinforced by the recent liquidity infusion by China's central bank, PBoC upcoming 50 bps cut on the RRR. The current 5-day rally of WTI crude oil has reached a key medium-term resistance zone of US$79.00/79.40 with a short-term overbought condition. At the risk of a minor mean reversion decline with intermediate supports at US$75.30 and US$74.80. This is a follow-up analysis of our prior report, “WTI Oil Technical: Sideways wi

26-01-2024 02:03 GMT by Kelvin Wong

GBP/USD - Is cable topping out as US data outperforms again?

US GDP rises 3.3% (annualized) in Q4 A fairytale outcome for the US economy GBPUSD drifts lower US economic data continues to point to an economy that's doing very well despite the various headwinds including very high interest rates. GDP data for the fourth quarter easily exceeded expectations, rising 3.3% on an annualized basis, adding to the increasing view that the US could be heading for a fairytale scenario, not just a soft landing. We've spoken a lot about resilence in the US economy o

25-01-2024 12:53 GMT by Craig Erlam

EUR/USD - Drifting lower as ECB keeps cards close to its chest

ECB leaves rates on hold Lagarde still eyeing summer rate cut EURUSD consolidating after correction The European Central Bank left interest rates on hold on Thursday and claimed inflation is progressing towards its target while giving no clear guidance on when interest rates will start falling. We came into the new year with markets pricing in a March rate cut and that is now looking increasingly difficult. Even with a late pivot.

25-01-2024 11:41 GMT by Craig Erlam

USD/JPY shrugs after US GDP

The Japanese yen has edged lower on Thursday. In the North American session, USD/JPY is trading at 147.62, up 0.08%. US GDP roars with 3.3% gain The US economy continues to surprise with stronger-than-expected data.

25-01-2024 11:27 GMT by Kenneth Fisher

Canadian dollar slips after BoC decision, USD GDP looms

US to release The Canadian dollar is showing limited movement on Thursday. In the European session, USD/CAD is trading at 1.3513, down 0.08%. Bank of Canada keeps rates on hold There were no surprises from the Bank of Canada, which maintained the benchmark rate at 5% on Wednesday.

25-01-2024 07:43 GMT by Kenneth Fisher

Euro in holding pattern ahead of ECB decision

The euro is showing limited movement on Thursday. In the European session, EUR/USD is trading at 1.0895, up 0.10%. Eurozone PMIs, released on Wednesday, pointed to trouble in the manufacturing and services sectors.

25-01-2024 05:01 GMT by Kenneth Fisher

Hang Seng Index Technical: Countertrend rebound in play but not major bottoming

Short-term positive animal spirits have resurfaced in China and Hong Kong stock markets stoked by additional liquidity injection from PBoC and the creation of a “stabilization fund”. Long-term prospects are still dim as a liquidity trap scenario cannot be ruled out in the real economy due to weak consumer and business sentiment. Watch the next intermediate resistances at 16,525 and 17,130 on the Hang Seng Index, This is a follow-up analysis of our prior report, “Easing liquidity conditions may

25-01-2024 02:42 GMT by Kelvin Wong

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