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EUR/USD - A very good jobs report for the Federal Reserve, PMIs fall again
US job growth slows as prior months revised lower Wage growth slows to 0.2% on a monthly basis in October  EURUSD rebounds off channel lows The Federal Reserve could not realistically have hoped for a better jobs report today but it will need to be one of a number of positive economic reports over the coming months before it's ready to declare victory.
03-11-2023 14:07 GMT by Craig Erlam
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USD/CAD steady ahead of Canada, US job reports
Canada's job growth expected to ease to 22,500 US nonfarm payrolls projected to decline to 170,000 The Canadian dollar is showing little movement on Friday. In the European session, USD/CAD is trading at 1.3740, up 0.03%. US, Canadian job growth expected to ease The week wraps up with US and Canadian employment reports, which could mean volatility from the Canadian dollar during the North American session. The US releases nonfarm payrolls, which had a massive September and crushed expectatio
03-11-2023 07:46 GMT by Kenneth Fisher
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British pound eyes US nonfarm payrolls
US nonfarm employment expected to fall sharply The British pound has posted strong gains on Thursday. In the European session, GBP/USD is trading at 1.2222, up 0.16%. US nonfarm payrolls expected to decline The week wraps up with the US nonfarm employment report.
03-11-2023 07:00 GMT by Kenneth Fisher
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Euro calm ahead of US nonfarm payrolls
US nonfarm payrolls expected to ease to 170,000 The euro is showing limited movement on Friday after posting strong gains a day earlier. In the European session, EUR/USD is trading at 1.0633, up 0.10%. All eyes on US nonfarm payrolls The US dollar has been under broad pressure since the Federal Reserve decision on Wednesday.
03-11-2023 05:26 GMT by Kenneth Fisher
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EUR/GBP - BoE in wait and see mode with wage growth now key
BoE leaves Bank Rate at 5.25% MPC believes inflation risks are to the upside EURGBP fails to break key resistance zone The Bank of England left interest rates unchanged today at 5.25%, as expected, with the vote widening slightly but remaining very close. The fact that the vote remains close highlights how uncertain the outlook remains in the view of the MPC and how, as Bailey reaffirmed in the press conference after, the risks to inflation are still to the upside. That said, based on its
02-11-2023 13:41 GMT by Craig Erlam
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Swiss franc pares gains after inflation release
Swiss inflation unchanged at 1.7% The Swiss franc has edged higher on Thursday. In the North American session, USD/CHF is trading at 0.9064, down 0.17%. Swiss inflation steady at 1.7% Switzerland's inflation rate remained at 1.7% y/y in October, matching the market consensus.
02-11-2023 12:27 GMT by Kenneth Fisher
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Euro jumps after Fed pause
Euro rises as Fed holds rates German Manufacturing PMI declines The euro has posted sharp gains on Thursday. In the North American session, EUR/USD is trading at 1.0628, up 0.56%. US dollar loses steam after Fed pause There wasn't any drama ahead of the Federal Reserve's meeting on Wednesday.
02-11-2023 11:42 GMT by Kenneth Fisher
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British pound gets lift from Fed and BoE pauses
British pound posts sharp gains BoE and Fed pause for second straight time The British pound has posted strong gains on Thursday. In the European session, GBP/USD is trading at 1.2216, up 0.54%. Bank of England pauses The Bank of England voted to maintain interest rates at 5.25% at today's meeting.
02-11-2023 09:13 GMT by Kenneth Fisher
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EUR/GBP Technical: Medium-term bullish basing as BoE looms
Three key technical developments have suggested that the EUR/GBP cross pair has formed a potential medium-term bullish basing configuration since 23 August 2023 Watch the key short-term support at 0.8680. Immediate resistances stand at 0.8750 and 0.8820. The price actions of the EUR/GBP cross pair have started to trace out a medium-term bullish basing configuration since 23 August 2023 as we await the latest Bank of England (BoE) monetary policy decision later today. Clearance above 200-d
02-11-2023 04:13 GMT by Kelvin Wong
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Fed React: USD/JPY softer after Fed fails to deliver hawkish hold
Back-to-back holds means the Fed is content keeping rates at a 22-year high Atlanta Fed GDP cuts Q4 GDP outlook from 2.3% to 1.2% Powell noted, “given how far we have come… the committee is proceeding carefully. The FOMC statement did not surprise many as the Fed kept rates on hold as they assess how tighter financial and credit conditions weigh on the economy.  The Fed did not rule out a rate increase in the coming months , but swap contracts showed traders weren't convinced.
01-11-2023 16:14 GMT by Edward Moya
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EUR/USD extends losses, Fed meeting looms
Fed widely expected to hold rates The euro is in negative territory on Wednesday after posting a losing session a day earlier. In the North American session, EUR/USD is trading at 1.0532, down 0.40%. Fed expected to pause rates The Federal Reserve makes its interest rate announcement later today and the markets have fully priced in rate pause, which would keep the benchmark rate at 5.25%-5.50%.
01-11-2023 13:58 GMT by Kenneth Fisher
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New Zealand dollar steady, employment eases
New Zealand job growth declines US JOLTS Job Openings rise Fed widely expected to pause at today's meeting The New Zealand dollar is trading quietly on Wednesday. In the North American session, NZD/USD is trading at 0.5830, up 0.10%. New Zealand employment declines, unemployment rises New Zealand's labour market was expected to ease in the third quarter, but the decline in job growth was a surprise.
01-11-2023 12:50 GMT by Kenneth Fisher
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EUR/USD - Fed likely to stick to the (slightly less) hawkish script
All eyes on the Fed No forecasts so tone will be important EURUSD threatening to break lower ahead of the decision The Fed meeting should be quite straightforward, with policymakers having come out in force to soothe market fears of another rate hike from the central bank, claiming recent moves in bond markets may have done some of the job for them. This followed previous commentary that strongly hinted that another rate hike is likely, aligning with the dot plot from the September meeting, whi
01-11-2023 12:24 GMT by Craig Erlam
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UK100 - Manufacturing PMIs remain weak but signs of promise in China
Manufacturing PMIs remain in contraction territory UK100 rebounds after key technical move lower Fib levels could be interesting We've had a selection of manufacturing PMIs this morning and, as we've come to expect, they weren't particularly surprising. The Caixin survey in China dipped back into contraction territory, in line with what we saw from the official reading yesterday, but there is some optimism that circumstances are gradually improving and will continue to do so, despite the obvio
01-11-2023 11:02 GMT by Craig Erlam
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EUR/USD: Dollar wavers on slower pace of Treasury Refunding Sales and mixed labor data
10-Year Treasury Yield plunges 14.6 bps to 4.782% after Treasury slows pace of increase in quarterly sales of long-term debt ISM Manufacturing plunges from 49.0 to 46.7; New Orders plunged to a five-month low JOLTS Report: Job openings rise more than expected, suggesting labor demand is still strong Wall Street was surprised that the Treasury did not need to boost the pace of long end issuance.  The Treasury might be worried with how high rates have skyrocketed with the long end of the curve. T
01-11-2023 10:59 GMT by Edward Moya
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Japanese yen stabilizes on intervention threat
Yen steadies after intervention warning Fed widely expected to pause at today's meeting The Japanese yen has steadied on Wednesday, following massive losses a day earlier. In the European session, USD/JPY is trading at 151.19, down 0.34%. Tokyo warns of intervention after yen plunges It was Black Tuesday for the Japanese yen, which plunged 1.78% and fell as low as 151.71, its lowest level since October 2022.
01-11-2023 08:11 GMT by Kenneth Fisher
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Nasdaq 100 Technical: Counter trend rebound at risk of exhaustion as key risk events loom
The ongoing rally from last Friday, 27 October low has taken on the form of an impending “bearish flag” formation. Coupled with a weak market breadth condition (less than 50% of Nasdaq 100 component stocks are trading above 200-day MA), the rally is likely to be a counter trend rebound within its short and medium-term downtrend phases. Watch the 14,590 key short-term resistance ahead of today’s FOMC decision and Apple’s earnings announcement on Thursday, 2 November.   This is a follow-up analys
01-11-2023 01:20 GMT by Kelvin Wong
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