OANDA Senior Market Analyst Craig Erlam discusses the moves in GBPUSD following the US inflation and UK jobs reports.
14-11-2023 11:54 GMT
by Craig Erlam
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UK wage growth eases
US inflation expected to fall to 3.3%
The British pound has edged higher on Tuesday. In the European session, GBP/USD is trading at 122.91, up 0.10%.
UK job growth improves, wage growth ease
The UK labour market remains strong, despite high inflation and elevated interest rates.
14-11-2023 07:46 GMT
by Kenneth Fisher
Consumer confidence slides
Business confidence eases while business conditions improve
The Australian dollar has edged lower on Tuesday. In the European session, AUD/USD is almost unchanged, trading at 0.6376.
Australian consumer, business confidence eases
Australian consumers have been hit hard by high inflation and steep interest rates, so it's no surprise that consumers are deeply pessimistic about the economy.
14-11-2023 05:10 GMT
by Kenneth Fisher
OANDA Senior Market Analyst Craig Erlam joins Jonny Hart to preview the CPI releases from the US and UK and discuss the OPEC monthly oil market report.
13-11-2023 16:36 GMT
by Craig Erlam
US inflation expected to fall to 3.3% for October
UK inflation expected to fall to 4.7% for October
Bullish breakout ahead of key economic releases
It's been a relatively uneventful start to the week but the next couple of days could be hugely important as the US and UK release inflation figures for October.
The two countries' central banks have, alongside others, been grappling with very high inflation for the last couple of years, and efforts to bring it down are finally bearing fruit.
Infl
13-11-2023 12:08 GMT
by Craig Erlam
Yen close to 33-year low
US releases inflation report on Tuesday
The Japanese yen is showing limited movement on Monday. In the North American session, USD/JPY is trading at 151.56, up 0.02%.
13-11-2023 11:46 GMT
by Kenneth Fisher
UK employment data expected to soften
UK will release inflation report on Wednesday
The British pound has edged higher on Monday. In the European session, GBP/USD is trading at 122.48, up 0.18%.
13-11-2023 08:46 GMT
by Kenneth Fisher
Australian dollar breaks five-day losing streak
Business, consumer confidence will be released on Tuesday
The Australian dollar has edged higher on Monday. In the European session, AUD/USD is trading at 0.6376, up 0.27%.
13-11-2023 07:06 GMT
by Kenneth Fisher
OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the UK GDP data, and Fed speak, and look forward to the inflation and retail sales releases next week.
10-11-2023 13:03 GMT
by Craig Erlam
Fed's Powell says interest rate hikes still on table
The Japanese yen is drifting on Friday. In the European session, USD/JPY is trading at 151.44, up 0.06%.
It has been a rough week for the Japanese yen, which is down 1.42%, its worst weekly showing since August.
Powell talks hawkish
The markets believe that interest rates have peaked and are looking ahead to rate cuts in 2024, but Fed Chair Powell continues to sound hawkish.
10-11-2023 07:44 GMT
by Kenneth Fisher
RBA warns of upside risk to inflation
Fed's Powell says rate hikes still on the table
The Australian dollar has edged lower on Friday. In the European session, AUD/USD is trading at 0.6352, down 0.22%.
RBA raises inflation, employment forecasts
The Reserve Bank of Australia issued its quarterly monetary policy statement on Friday.
10-11-2023 06:50 GMT
by Kenneth Fisher
UK GDP flat in third quarter
The British pound is steady on Friday. In the European session, GBP/USD is trading at 1.2219, down 0.02%.
10-11-2023 05:07 GMT
by Kenneth Fisher
Russell 2000’s week-to-date performance as of 9 November is the weakest among the US benchmark stock indices.
The current bearish reaction that wiped out almost 50% of last week’s gains has occurred right below the former key range support and 50-day moving average.
Watch the 1,787 key short-term resistance.
This is a follow-up analysis of our prior report, “Russell 2000 Technical: The weakest may get weaker again” published on 25 October 2023. Click here for a recap.
The bearish force has sta
10-11-2023 03:57 GMT
by Kelvin Wong
The recent slide of -170 pips seen in the AUD/USD from Monday, 6 November high of 0.6520 has reached a key inflection zone.
The latest higher level of inflation forecasts in Australia by the RBA may put a pause on the current minor corrective decline seen in the AUD/USD.
Short-term technical elements have turned positive for a potential bullish reversal scenario for the AUD/USD.
Watch the 0.6330 key short-term support and 0.6400 potential upside trigger level for the AUD/USD.
This is a follow-u
10-11-2023 00:02 GMT
by Kelvin Wong
UK GDP expected to decline
The British pound is showing little movement on Thursday. In the North American session, GBP/USD is trading at 1.2276, down 0.07%.
Markets brace for contraction in GDP
The UK economy has been struggling and Friday's GDP is expected to indicate negative growth, with a market consensus of -0.1% q/q for the third quarter.
09-11-2023 11:50 GMT
by Kenneth Fisher
EURUSD is continuing to trade in a rising channel formation, reminiscent of a bearish flag given the trend that preceded it but recent signs may suggest it's not that straightforward.
The first thing worth noting is that the bearish flag formation isn't ideal in that the sell-off that makes up the pole element isn't particularly sharp and the time it's traded in the flag is a little long.
That said, it can still be argued to be a bearish setup. But what we've seen over the last week is arguabl
09-11-2023 11:10 GMT
by Craig Erlam
China inflation misses estimate
NZ manufacturing PMI expected to decline
The New Zealand dollar is in positive territory on Thursday. In the European session, NZD/USD is trading at 0.5926, up 0.26%.
NZ Manufacturing PMI expected to decelerate slightly
New Zealand's manufacturing sector has been in decline for seven consecutive months and little change is expected from the October PMI, which will be released on Friday.
09-11-2023 08:22 GMT
by Kenneth Fisher
China's inflation misses estimate
RBA to release monetary policy statement on Friday
The Australian dollar is unchanged on Thursday and is trading at 0.6401. This follows a three-day slide, in which AUD/USD has fallen 1.7%.
RBA Monetary Policy Statement eyed
The Reserve Bank of Australia will release its quarterly monetary policy statement on Friday.
09-11-2023 06:29 GMT
by Kenneth Fisher
Gold’s stagflation hedge purpose has been negated after a rotation back into long-duration risk assets/equities.
Watch the US$1,972 key short-term resistance on spot Gold (XAU/USD) to maintain on-going corrective decline structure.
Medium-term uptrend remains intact as long as US$1,903 support holds.
In the past two weeks, the price actions of Spot Gold (XAU/USD) have started to lose some of their glitter as a safe haven play due to the “status quo” situation in the ongoing Israel-Hamas conflic
09-11-2023 02:17 GMT
by Kelvin Wong
Jonny Hart and Trader Nick discuss the day's events in which many central bankers gave their views on interest rates and oil and gold fell further.
08-11-2023 15:28 GMT
by Craig Erlam