The Canadian dollar has edged lower on Tuesday. In the North American session, USD/CAD is trading at 1.3410, up 0.17%.
31-01-2023 09:27 GMT
by Kenneth Fisher
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It has been a rough start to the week for the Australian dollar. AUD/USD has dropped 0.68% on Tuesday and is down 1.36% on the week.
31-01-2023 04:50 GMT
by Kenneth Fisher
The Australian dollar has started the week in negative territory. In the North American session, AUD/USD is trading at 0.7081, down 0.40%.
30-01-2023 11:18 GMT
by Kenneth Fisher
The Japanese yen had an uneventful week and edged higher on Monday. USD/JPY is trading at 130.06 in the European session, up 0.18%.
US PCE slows to 4.4%
Last week wrapped up with Core PCE slowing to 4.4% in December, down from 4.7% a month earlier.
30-01-2023 09:01 GMT
by Kenneth Fisher
The euro is in positive territory on Monday. EUR/USD is trading at 1.0907 in the European session, up 0.36%.
It was a quiet week for the euro, which continues to hug the 1.09 line.
30-01-2023 05:52 GMT
by Kenneth Fisher
US
Traders will focus on the FOMC decision, but they should also closely watch mega-cap tech earnings, and the nonfarm payroll report.
The Fed is expected to continue slowing their rate hiking pace with a small 25 basis point rate rise. Disinflation trends are clearly here, but Core PCE suggest price pressures are coming and the labor market refuses to break and could prompt the Fed to remain vigilant with its inflation fight.
27-01-2023 14:00 GMT
by Edward Moya
The British pound is slightly lower on Friday. In the European session, GBP/USD is trading at 1.2366, down 0.37%.
Will US Core PCE continue to drop?
There are no UK releases today, so all eyes will be on the US Core PCE, which is considered the Federal Reserve's preferred inflation indicator.
27-01-2023 07:20 GMT
by Kenneth Fisher
The Australian dollar is almost unchanged on Friday, trading at 0.7112.
Australia's PPI slips
Just a day after Australian CPI unexpectedly rose, the Producer Price Index went in the opposite direction. PPI in the fourth quarter slowed to 5.8% y/y, down from 6.4% in Q3 and below the consensus of 6.3%.
27-01-2023 05:51 GMT
by Kenneth Fisher
The Japanese yen is in positive territory on Friday. In the European session, USD/JPY is trading at 129.76, down 0.33%.
Tokyo CPI hits 4.3%
Inflation indicators in Japan continue to head northwards.
27-01-2023 04:50 GMT
by Kenneth Fisher
The Canadian dollar is in positive territory on Thursday. In the North American session, USD/CAD is trading at 1.3363, down 0.16%.
26-01-2023 11:50 GMT
by Kenneth Fisher
The euro has been in calm waters all week and the trend has continued on Thursday, as EUR/USD continues to hug the 1.09 line.
What is the ECB's game plan?
With inflation designated as public enemy number one, the ECB is no doubt pleased that inflation has fallen for two straight months, dropping to 9.2% in December. Still, this is well above the ECB's inflation target of 2%, and the newly-hawkish Christine Lagarde has declared that the ECB will "stay the course" to ensure that inflation comes
26-01-2023 08:51 GMT
by Kenneth Fisher
Tokyo CPI expected to rise
Inflation has been on the rise in Japan and the trend is expected to continue with the release of Tokyo CPI later today. The headline figure is expected to rise to 4.4% in December, up from 4.0% in November, while the core rate is forecast to climb to 4.2%, up from 4.0%.
26-01-2023 06:16 GMT
by Kenneth Fisher
The Australian dollar has extended its rally with solid gains on Wednesday. In the North American session, AUD/USD is trading at 0.7080, up 0.51%.
Australian inflation jumps to 8.4%
RBA policy makers are no doubt having a bad day at the office, as Australia's inflation climbed sharply in the fourth quarter.
25-01-2023 12:37 GMT
by Kenneth Fisher
The Canadian dollar is almost unchanged on Wednesday, trading at 1.3373 in the European session.
BoC expected to hike by 25 bp
The Bank of Canada is expected to raise rates by 25 basis points at today's meeting, the first of the year, which would bring the cash rate to 4.50%. The BoC has been aggressive, raising rates by some 400 basis points in the current rate-tightening cycle which began in March 2022.
25-01-2023 08:41 GMT
by Kenneth Fisher
The New Zealand dollar is under pressure on Wednesday. In the European session, NZD/USD is trading at 0.6478, down 0.41%.
Markets eye New Zealand CPI
The New Zealand dollar reacted negatively to today's CPI release, falling as much as 0.60% before paring these losses.
25-01-2023 04:57 GMT
by Kenneth Fisher
The New Zealand dollar has edged higher on Tuesday and is trading just above the 0.65 line. NZD//USD is coming off a strong week, as it gained 1.39% and climbed to 7-month highs.
Markets eye New Zealand CPI
New Zealand releases CPI for the fourth-quarter later today, in what promises to be a closely watched release.
24-01-2023 13:04 GMT
by Kenneth Fisher
The British pound has posted slight gains on Tuesday. In the European session, GBP/USD is trading at 1.2302, down 0.60%.
UK debt hits record
UK debt costs soared in December, sending the budget deficit to a record 27.4 billion pounds.
24-01-2023 05:21 GMT
by Kenneth Fisher
US stocks are rallying as Wall Street awaits a busy earnings week as well as major GDP and core PCE data later this week that should confirm Fed calls for another downshift in tightening of rates. Corporate earnings have been coming in softer than expected and that should continue to drive recession trends, which are what is needed to get the Fed to stop tightening.
Salesforce is gaining much attention after activist Elliot Management took a multibillion-dollar stake in it. Spotify also announ
23-01-2023 15:26 GMT
by Edward Moya
The British pound has started the new trading week in negative territory, but has manged to pare most of the losses. In the North American session, GBP/USD is trading at 1.2369, down 0.23%.
Markets eye UK PMIs
It's a quiet start to the week, with no UK releases and only one minor US event on Monday.
23-01-2023 11:30 GMT
by Kenneth Fisher
The euro has started the week with gains. EUR/USD briefly punched above the 1.09 line earlier today, for the first time since April but has pared these gains.
Tough ECB talk boosts euro
The ECB meets next on February 2nd and is widely expected to raise rates by 50 basis points.
23-01-2023 09:19 GMT
by Kenneth Fisher