FX

Share: Thin Monday market churn as traders wait for big data prints this week. Canada, US both have bank holidays on Monday, throttling trading volumes. Tuesday brings Canadian CPI inflation, US FOMC Meeting Minutes on Wednesday. The Canadian Dollar (CAD) is stuck in a near-term technical range as the new trading week kicks off with

Share: Gold (XAU/USD) dipped below $2,000 for the first time since December 2023. Economists at MUFG Bank analyze the yellow metal’s outlook. Gold’s resiliency intact despite hot US inflation dampening Fed rate cut expectations Gold prices have remained in consolidation form as hotter-than-expected US inflation has dampened hopes for a rate cut in the first half

Share: Cloudflare traded up as high as 22% on Friday after releasing earnings on Thursday. Cybersecurity firm beat earnings and sales consensus for the fourth quarter. Adjustment to inflation readings helped stock indices to the upside on Friday. NET stock may find support closer to $100 psychological level. Cloudflare (NET) stock has lost just 0.85%

Share: The US Dollar retreats further from its peak performance on Monday. Traders brace Fed speakers this Wednesday in a very small economic calendar ahead.  The US Dollar Index to snap below 104 in search of support.  The US Dollar (USD) is flat for this week and tilted to move into a negative performance ahead

Share: The DXY rose by more than 0.80% to 103.90 on Friday US Nonfarm Payrolls came in higher than expected for January. US bond yields are sharply increasing as markets push to May the start of the easing cycle. The US Dollar (USD) rose to 103.90 on Friday’s Dollar Index (DXY) chart, mainly fueled by

Share: The Australian Bureau of Statistics (ABS) will release the Consumer Price Index (CPI) for December and the fourth quarter (Q4) of 2023 on Wednesday, January 31 at 00:30 GMT and as we get closer to the release time, here are forecasts from economists and researchers of six major banks regarding the upcoming inflation data.

Share: The consensus view in 2024 is that the Dollar will decline. Economists at ING agree but with some caveats. Back up in short-term rates is a Dollar positive We sympathise with the increasing consensus view that the Dollar will trend lower in 2024. However, we think markets are wrong to price Fed rate cuts

Share: GBP/USD Forecast: Pound Sterling could edge lower if 1.2680 support fails GBP/USD staged a rebound in the second half of the previous week and erased a large portion of its weekly losses. The pair’s near-term technical outlook is yet to point to a build-up of bullish momentum as it holds steady at around 1.2700 in

Share: The US Dollar trades in the green in the aftermath of the weekly US Jobless Claims. Traders hear Fed’s Bostic call again for a steady-for-longer outlook.  The US Dollar Index failed to close above the important technical level of 103.40.  The US Dollar (USD) trades slightly higher in the aftermath of US Jobless Claims

Share: The Swiss Franc gained slightly against the Greenback on Friday after US Producer Price Index data fell short of estimates.  Overall PPI fell and core factory gate prices flatlined for three consecutive months. The data substantially increases the probabilities of interest rates falling in the US in the future.  The Swiss Franc (CHF) gained slightly on Friday

Share: The US Bureau of Labor Statistics (BLS) will release the most important inflation measure, the US Consumer Price Index (CPI) figures, on Thursday, January 11 at 13:30 GMT. As we get closer to the release time, here are the forecasts by the economists and researchers of 10 major banks regarding the upcoming United States

Share: Mexican Peso gains against USD, with USD/MXN falling to 16.87 after US jobs data shows higher-than-expected employment growth. Banxico’s recent minutes highlight ongoing inflation challenges, affirming the need for stable interest rates. Economic data from the United States was mixed, though it maintains a Goldilocks scenario. US Treasury yields rise as market expectations for Fed

Share: On Friday, the S&P 500 index retreated from its Thursday’s local high of 4,793.30. However, by the end of the day, it rebounded from the daily low of around 4,752 and closed just 0.28% lower. The broad stock market’s gauge continued to trade relatively close to its January 4, 2022, all-time high of 4,818.62.

Share: The Euro wavers around 1.1050  in a choppy year-end trading session. Investors bets on Fed cuts in 2024 keep USD buyers in check. US data released on Thursday strengthened the case for a soft landing in Q4. ​​​The Euro (EUR) is trading moderately lower on Friday, weighed by a mild US Dollar recovery in a

Share: The Mexican Peso hit a 15-week high against the US Dollar on Friday. Mexico’s unadjusted Trade Balance hit a nine-month high in November. Friday marks the last trading day before the holiday break. The Mexican Peso (MXN) rallied to a fresh 15-week high on Friday as the broader market took one last opportunity to

Share: The Euro jumps to 1.1000 as the final US GDP disappoints.  US economic growth revised down to 4.9% in the third quarter from the previous 5.2% estimation. The focus is now on the US PCE Price Index for more cues on the Fed’s policy outlook. The Euro (EUR) extended gains on a thin pre-Cristmas session

Share: USD/JPY is down almost 2% from Monday’s opening bids. A pivot from the Fed saw the US Dollar decline sharply across the broader forex market. Next week pits the BoJ’s last rate call of the year against US GDP & PCE figures. The USD/JPY wrapped up the trading week struggling to develop momentum in

Share: Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes the sequencing and extent of easing to come by the Federal, the Bank of England and the European Central Bank.  Fed to ease before the BoE or the ECB The market prices the ECB cutting before the Fed, which cuts before the UK MPC.