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Japanese yen rebounds, US inflation looms

Yen rebounds after two-day slide US inflation expected to drop to 3.0% The Japanese yen has ended a two-day slide, in which it dropped 1.4% against the US dollar. In Tuesday's European session, USD/JPY is trading at 145.21, down 0.66%. Yen volatility continues The yen has been showing sharp swings since last Thursday, when signals from the Bank of Japan of a possible tightening in policy sent the yen soaring over 2% on Thursday.

12-12-2023 06:23 GMT by Kenneth Fisher

GBP/USD drifting ahead of US inflation

UK wage growth eases to 7.3%, lower than expected US inflation expected to fall to 3.0% The British pound is drifting on Tuesday. In the European session, GBP/USD is trading at 1.2551, down 0.04%. UK wage growth falls to 7.3% Tuesday's UK employment report was notable for the decline in wage growth.

12-12-2023 04:46 GMT by Kenneth Fisher

Germany 30 Technical: A potential minor corrective decline looms

Short-term RSI momentum indicator has flashed out bullish exhaustion condition after 6 consecutive weekly positive closes. At the risk of minor corrective decline sequence below 16,910 key short-term resistance. Intermediate supports rest at 16,590 and 16,440. This is a follow-up analysis of our prior report, “Germany 30 Technical: New intraday record high, short-term bullish trend intact” published on 6 December 2023. Click here for a recap. The Germany 30 Index (a proxy for the DAX futures)

12-12-2023 04:22 GMT by Kelvin Wong

USD/JPY Technical: Potential JPY bullish pressure reasserts

The 2-day rebound seen in USD/JPY has reached 146.20/70 minor resistance zone. The movement of USD/JPY in the past month has a significant direct correlation with the US 10-year Treasury/10-year JGB yield spread. The short-term to medium-term trends of the US 10-year Treasury/10-year JGB yield spread remain bearish. Watch the 146.70 key short-term resistance on USD/JPY. This is a follow-up analysis of our prior report, “USD/JPY Technical: Potential counter-trend rebound within medium-term downt

12-12-2023 00:14 GMT by Kelvin Wong

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Market Insights Podcast - Big week on interest rates as Fed, BOE, ECB looms together with US CPI, Japan flash PMI

OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic events that focus on the monetary policy decisions of key central banks; Fed, ECB, and BoE. Monetary policy officials may challenge the current aggressive dovish expectations on the trajectory of interest rate cuts for 2024. The primary focus will be on the release of the latest Fed's dot plot on Wednesday, 18 December together with the FOMC monetary policy meeting outcome; Fed funds interest rates futu

11-12-2023 21:45 GMT by Kelvin Wong

AUD/USD extends losses, confidence data next

Australia releases consumer and business confidence on Tuesday The Australian dollar has posted slight losses in Monday trading. In the North American session, AUD/USD is trading at 0.6564, down 0.18%. The Aussie continues to show sharp swings and declined 1.50% last week.

11-12-2023 11:47 GMT by Kenneth Fisher

EUR/USD - All eyes on the central banks and inflation data this week

Fed pivot may hang on tomorrow's CPI data Markets pricing in five rate cuts from ECB next year ahead of meeting EURUSD hangs around key support level A lackluster start to the week but there's so much to come over the next few days which could determine how markets end the year and start 2024. The US will be front and center this week even as events also unfold elsewhere. The Fed decision on Wednesday is unlikely to be controversial but the forecasts, dot plot and press conference that accompan

11-12-2023 10:42 GMT by Craig Erlam

GBP/USD - Pound edges higher ahead of UK job data

UK to release employment report on Tuesday US nonfarm employment payrolls beats forecast and rise to 199,000 The British pound is showing little movement at the start of the week. In Monday's European session, GBP/USD is trading at 1.2576, up 0.22%. It's a busy week for UK releases which could translate into volatility from the British pound.

11-12-2023 06:21 GMT by Kenneth Fisher

Japanese yen correction continues

Japanese yen's slide continues Markets walk back expectations of a change at BoJ December meeting US nonfarm payrolls rise to 199,000, better than expected The Japanese yen has started the week where it left off on Friday, posting sharp losses. In the European session, USD/JPY is trading at 146.16, up 0.83%. BoJ December mania wanes The yen soared over 2% on Thursday, after comments by senior BoJ officials triggered speculation that Bank of Japan might exit negative interest rates at the Dece

11-12-2023 04:19 GMT by Kenneth Fisher

Gold Technical: Extension of corrective decline ahead of FOMC

Lofty dovish expectations of 4 Fed funds rate cut in 2024 are at risk of being dialed back. Short-term bullish momentum has resurfaced in the US 10-year Treasury real yield. Spot Gold (XAU/USD) may continue its short-term corrective decline sequence. Watch the key short-term resistance at US$2,040 on Spot Gold (XAU/USD). This is a follow-up analysis of our prior report, “Gold Technical: Medium-term uptrend remains intact but risk of minor pull-back” published on 4 December 2023. Click here for

10-12-2023 23:37 GMT by Kelvin Wong

How may the US Nonfarm Payroll numbers impact EURUSD Prices?

Talking Points US Data beat expectations, Nonfarm Payroll breakdown Technical analysis for EURUSD Daily Chart Conclusion, What’s next for EURUSD Price? US Data beat expectations, Nonfarm Payroll breakdown The November Nonfarm payroll numbers released this morning were better than expected, the US economy added 199K jobs last month, slightly above the median forecast of 185K jobs and the Unemployment Rate fell to 3.7% compared to the consensus of 3.9% supporting the theory that the US job mar

08-12-2023 20:45 GMT by Moheb Hanna

Gold - Testing $2,000 after a surprisingly strong jobs report

NFP in November 199,000 (184,000 expected, 150,000 in October) Average hourly earnings in November 0.4% (m/m) (0.3% expected, 0.2% in October) Gold testing $2,000 support There's been a lot of talk this week about whether investors have become too optimistic about interest rate cuts next year and today's jobs report may have brought some crashing back down to earth. Don't get me wrong, it's not a terrible report by any stretch of the imagination. But it may well convince the Fed that it must pr

08-12-2023 16:48 GMT by Craig Erlam

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Market Insights Podcast - A stronger US jobs report ahead of the Fed

OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the US jobs report and what it means ahead of the Federal Reserve meeting next week.

08-12-2023 16:12 GMT by Craig Erlam

Australian dollar on a roller-coaster, US NFP looms

Australian dollar steady after sharp gains on Thursday US nonfarm payrolls expected to climb to 180,000 The Australian dollar is trading quietly on Friday. In the European session, AUD/USD is trading at 0.6611, up 0.14%. It has been a roller-coaster week for the Australian dollar.

08-12-2023 06:17 GMT by Kenneth Fisher

Euro flat as German inflation declines

German inflation confirmed at -0.4% US nonfarm payrolls project to accelerate to 180,000 The euro has edged lower on Friday. In the European session, EUR/USD is trading at 1.0774, down 0.17%.

08-12-2023 04:51 GMT by Kenneth Fisher

Yen pushes higher, GDP softer than expected

Japan's Q3 GDP revised lower to -2.9% Japanese yen gains ground but can't consolidate US nonfarm payrolls expected to rise to 180,000 The Japanese yen continues to show strong swings. In the European session, USD/JPY is trading at 143.94, down 0.16%.

08-12-2023 03:47 GMT by Kenneth Fisher

USD/JPY Technical: Potential counter-trend rebound within medium-term downtrend

Recent bizarre hawkish rhetoric from BoJ top officials ahead of Japan's 2024 nationwide spring wage negotiations sparked a further rally in JPY. Increasing expectations of a BoJ pivot to scrap its decade-long plus of short-term negative interest rate policy to come as early as this month, 19 December monetary policy meeting. The interest rates swap market has priced in a 45% chance of removal of negative interest rate on 19 December, a jump from the 3.5% chance seen earlier this week. USD/JPY re

08-12-2023 01:12 GMT by Kelvin Wong

Nasdaq - Tech leading the surge, jobless claims steady but weaknesses appearing

Tech boosted by Google announcement Continuing jobless claims continue to rise Nasdaq nearing all-time highs It's been an interesting day in financial markets with US stocks performing well, particularly the Nasdaq, and Europe rather poorly. Tech is the difference maker, with Alphabet leading the charge after Google announced the release of its new AI model "Gemini".

07-12-2023 12:59 GMT by Craig Erlam

New Zealand dollar climbs ahead of NZ Manufacturing Sales

New Zealand Manufacturing Sales expected to improve to 0.9% China releases CPI on Saturday The New Zealand dollar is in positive territory on Thursday. In the North American session, NZD/USD is trading at 0.6168, up 0.48%. NZ manufacturing sales expected to rebound The manufacturing sector has been in a major slump worldwide and New Zealand has not been immune.

07-12-2023 12:46 GMT by Kenneth Fisher

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Hedging the Markets - Gold hits record highs ahead of NFP (video)

OANDA Senior Market Analyst Craig Erlam discusses the moves in gold in a week in which it hit a new record high and previews Friday's US jobs report.

07-12-2023 12:38 GMT by Craig Erlam

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