Forex: All News & Analysis

Japanese yen edges lower after hawkish BoJ minutes

USD/JPY on doorstep of 150 line BoJ says it will buy more JGBs BoJ's minutes indicate 2% sustainable inflation may be close The Japanese yen has started the week with slight losses. In the European session, USD/JPY is trading at 149.80, up 0.29%. BoJ says it will buy more JGBs The Bank of Japan said on Monday that it will conduct an unscheduled purchase of Japanese government bonds(JGBs) on Wednesday.

02-10-2023 10:00 GMT by Kenneth Fisher

AUD/USD falls ahead of RBA meeting

Australian dollar falls below 0.6400 MI Inflation Gauge comes in at 0% RBA expected to hold rates at 4.1% The Australian dollar has started the week considerably lower. In the European session, AUD/USD is trading at 0.6397, down 0.55%. MI Inflation Gauge comes in at 0% The Melbourne Institute's Inflation Gauge was flat in September after 12 straight months of increases.

02-10-2023 07:11 GMT by Kenneth Fisher

USD/JPY rallied to an 11-month high despite a rosy Q3 Tankan report and verbal interventions

Upbeat longer-term inflationary expectations and business sentiment of large Japanese corporations could not derail the relentless up move of USD/JPY. Momentum factor and further potential 10-year US Treasury/JGB yield spread premium are supporting this current bout of rallies seen in USD/JPY at least in the short-term. The key resistances to watch will be at 150.00/150.30 and 150.80/150.90. The bulls of USD/JPY have continued to charge forward and broke above last week's high of 147.71 in toda

02-10-2023 06:29 GMT by Kelvin Wong

USD/CAD: Loonie weakens after GDP miss and on oil profit-taking

Canadian economy struggles to find growth Oil price rally exhausted as $100 price remains elusive GDP sends BOC rate hike odds down; October 25th meeting at 30.4% vs yesterday's 42.2% USD/CAD rises to a two-week high after loonie bulls disappeared after a disappointing July GDP report. It looks like Wall Street was a bit too optimistic on the Canadian economy and expectations for August is for a similar reading. The Canadian economic outlook is struggling as the impact from Bank of Canada's ag

29-09-2023 16:04 GMT by Edward Moya

USD/JPY: Cooling inflation allows dollar rally to pause

US core inflation and personal spending softens Bond yields pare earlier losses; 10-year yield now only down 1bps to 4.565% US near-term inflation expectation drop to lowest levels since 2021 After a disastrous week, month, and quarter as the bond market selloff would not relent, US dollar long positions got closed out after further evidence supported the case that the Fed might be done hiking rates. The latest round of economic data that showed spending and core inflation cooled.

29-09-2023 14:52 GMT by Edward Moya

Podcast - The end of a volatile week, month, and quarter; Inflation and spending are cooling

OANDA Senior Market Analyst Ed Moya reviews the latest market news with Jonny Hart and Trader Nick. They discuss Wall Street's reaction to the release of the Fed's favorite inflation gauge, a looming government shutdown, the expanding autoworkers strike, and oil prices.

29-09-2023 13:28 GMT by Edward Moya

DAX - Rebounds amid a major boost for the ECB but there's still a long way to go

Eurozone HICP inflation y/y 4.3% in September (5.2% in August), core HICP 4.5% (5.3%) US PCE inflation y/y 3.5% in August (3.4% in July), core PCE 3.9% (4.3%) DAX rebounds but remains below key technical level European stock markets are performing well at the end of the week after spending much of it in the red on the back of fresh interest rate concerns. A determination to drive home the message that interest rates will stay higher for longer appears to have finally wobbled investors

29-09-2023 10:07 GMT by Craig Erlam

EUR/USD higher as eurozone inflation slides

Eurozone inflation falls to 4.5% US Core PCE Price Index eases to 3.9% The euro has moved upwards on Friday. In the European session, EUR/USD is trading at 1.0597, up 0.30%.

29-09-2023 08:41 GMT by Kenneth Fisher

Canadian dollar extends gains ahead of GDP

Canada's GDP expected to improve US PCE Core Prices projected to stay steady at 0.2% The Canadian dollar has posted losses on Friday. In the European session, USD/CAD is trading at 1.3446, down 0.28%. Canada's GDP expected to post 0.1% gain I have noticed the phrase "US exceptionalism" being bandied about lately.

29-09-2023 06:16 GMT by Kenneth Fisher

Japanese yen gains ground, Tokyo Core CPI eases

Tokyo Core CPI eases to 2.5% Japanese yen rises The Japanese yen is showing some life following a nasty slide earlier in the week, which saw it decline around 1.5% and come close to the symbolic 150 line. In the European session, USD/JPY is trading at 148.72, down 0.40%. Tokyo Core CPI falls to 2.5% Japan is experiencing higher inflation than it has known for decades, although it remains much lower than in other major economies. Tokyo Core CPI, which excludes fresh food, rose 2.5% y/y in Sept

29-09-2023 04:08 GMT by Kenneth Fisher

Euro gains ground, German inflation slides

German inflation falls sharply US GDP expands 2.1%, unemployment claims tick higher The euro continues to show volatility. EUR/USD has jumped 0.53% on Thursday, erasing almost all of the losses sustained on Thursday.

28-09-2023 13:33 GMT by Kenneth Fisher

AUD/USD: Positioned nicely to rebound if dollar weakness persists

US-China tensions might ease if Xi visits the US China's PMI data expected to show economy is stabilizing Despite property market crisis, iron ore demand is expected to remain strong The Australian dollar has been stabilizing over the past month around the 0.6340 level, which means if king dollar is ready for a pullback, a rally towards 0.6500 could unfold. The key for the Australian dollar might be if the outlook for China improves. The property crisis isn't going away anytime soon, but we c

28-09-2023 13:07 GMT by Edward Moya

EUR/USD: Euro rallies as German inflation falls to lowest levels since before Ukraine War

German HICP inflation declined sharply in September Italian-German 10-year yield spread tested 200 bps Dollar profit-taking begins after softer personal consumption data The king dollar trade has run out of steam. It took cooling German inflation and a global bond market selloff that attracted foreign investment back into Europe. The surge in European bond yields is actually bad news for the economy but should still provide some short-term relief for the euro. Italian debt fears The 10-year

28-09-2023 12:15 GMT by Edward Moya

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EUR/USD - Heading for parity or could a rebound be on the cards?

OANDA Senior Market Analyst Craig Erlam discusses the latest moves in EURUSD as the dust settles following the Federal Reserve and European Central Bank meetings.

28-09-2023 11:39 GMT by Craig Erlam

EUR/CHF - Promising inflation data ahead of Friday's eurozone HICP release

Eurozone inflation data making positive moves ECB unlikely to raise rates again in this tightening cycle EURCHF entered into key resistance zone Inflation data from some eurozone member states was released on Thursday and there was some cause for optimism. While the eurozone HICP release isn't due until tomorrow, we do get some insight ahead of time from the individual country breakdowns and it's Germany that's offered a promising update this morning. Headline inflation in North Rhine Westphal

28-09-2023 10:46 GMT by Craig Erlam

USD/JPY rebounds, US GDP, Tokyo Core CPI next

Tokyo Core CPI expected to drop from 2.8% to 2.6% Japanese yen steadies after slide The Japanese yen has stemmed a 3-day slide, in which it declined around 1.5% against the US dollar. In the European session, USD/JPY is trading at 149.31, down 0.23%.

28-09-2023 07:49 GMT by Kenneth Fisher

Australian dollar steadies, retail sales dip

Australia's retail sales decelerate to 0.2% The Australian dollar is in positive territory on Thursday after three straight daily losses in which AUD/USD lost over 1% and hit an 11-month low. In the European session, AUD/USD is trading at 0.6367, up 0.23%. Australia retail sales rise slightly Australian consumer spending, a key driver of economic growth, has been showing cracks.

28-09-2023 04:39 GMT by Kenneth Fisher

EUR/GBP: Pound firms up as BOE rate hike odds grow

German Institutes see 2025 GDP at 1.5% Germany GfK consumer confidence hit lowest since Apr 2023 Euro Zone M3 money supply posts worst drop on record FX traders appear convinced that the ECB is done hiking and that the BOE might have to stay hawkish a little while longer. Rate hike odds for the BOE at the November 2nd meeting have edged higher to 40.6%, while the implied rate is seen peaking at 5.398% in March. The ECB is likely done hiking but rate cuts probably won't be happening until

27-09-2023 15:25 GMT by Edward Moya

EUR/USD: Dethroning King Dollar will be hard

The dollar was weaker and US stocks attempted to rally after the bond market selloff started to show some signs of exhaustion. Last night, the 10-year Treasury yield rally stalled out after its second attempt failed at breaking above 4.56%. A little calm in the bond market gave risky assets a modest boost, but that should be short-lived. A positive surprise with durable goods data was initially viewed as good news for the economy and possibly stocks, but good news is actually bad news for equ

27-09-2023 12:44 GMT by Edward Moya

XAU/USD - Hawkish Fed commentary pushes gold back below $1,900

Hawkish Fed speak continues to pressure gold Two key technical support levels broken today Gold trading at a six month low Gold continues to drift lower after breaking below $1,900, a key area of support in recent weeks. The yellow metal had been range-bound between $1,900 and $1,950 around the major central bank meetings this month and it would appear a hawkish Fed when others have adopted a more neutral tone has pushed it over the edge. The dollar has been charging higher over the last week

27-09-2023 12:20 GMT by Craig Erlam

Forex: all news & analysis