FX

The USD/JPY rally has taken a breather over the last week after some strong gains. The highlight of the week ahead will be Thursday’s Bank of Japan meeting where a fresh update on the Outlook for Activity and prices will be published. Economists at ING stay bullish and see substantial gains to the 115.00 level.

New York Federal Reserve (Fed) President John Williams said on Friday, longer-run inflation expectations are in line with the central bank’s 2% goal. Additional takeaways If inflation expectations get anchored at too low a level that will then bring down actual inflation over time. There is a great deal of uncertainty about the economy today.

Gold reversed an early North American session dip to the $1,776 area and turned positive for the third successive day, though remained below weekly tops touched earlier this Thursday. Currently hovering around the $1,782-83 region, the risk-off impulse in the markets turned out to be a key factor that acted as a tailwind for the

AUD/USD takes the bids to refresh multi-day high. NAB Business Confidence drops below market forecast and prior in Q3. Market sentiment dwindles amid a sluggish session, US Treasury yields stay firmer. Evergrande’s failure to clinch asset sale deal, hawkish Fedspeak weigh on risk appetite of late. AUD/USD stays bid at 0.7527, the highest level since

Inflation in Canada rose at a stronger pace than expected in September. USD/CAD stays in the negative territory around 1.2350. Annual inflation in Canada, as measured by the Consumer Price Index (CPI), advanced to 4.4% in September from 4.1% in August, the data published by Statistics Canada revealed on Wednesday. This reading came in higher

AUD/USD consolidates recent gains near three-month high, refreshes intraday low of late. Aussie Westpac Leading Index recovers in September but risk-on mood fades and challenge the bulls. US Treasury yields refresh five-month high, S&P 500 Futures stay directionless. PBOC interest rate decision, risk catalysts are the key amid a light calendar day. AUD/USD drops to

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The RBA’s October meeting Minutes have stated that the inflation target of 2-3% that is required before the central bank will lift the cash rate will not be until 2024. AUD/USD is giving back short term gains. RBA Minutes Delta variant of covid-19 had interrupted the recovery of the Australian economy In the central scenario, the

Here is what you need to know on Monday, October 18: Monday is not a great day for stocks. Historically, it is one of the worst-performing days. Thursday is the best, and this Monday is proving that theory with more losses likely. The reasons are pretty obvious and will not take a lot of searching through

Gold is firming at a critical level of support on the daily chart. Stagflation risks are being weighed as a driver for gold.  Oil prices are parabolic and supply chain disruption supports the bullish outlook for gold.  The price of gold on Friday plummetted following signs that the US economy may not be declining at

The Dow Jones Industrial, the S&P 500, and the Nasdaq Composite posted gains between 0.7% and 1.6% on Friday. US Retail Sales surprised to the upside, while the University of Michigan Consumer Sentiment Index fell. The USD/JPY reached five-year highs above 114.00. Bitcoin broke the $60,000 barrier, trades at All-Time-Highs. US equities finished on a

The British pound continues its rally against the Japanese yen on the back of BoE’s hiking rates expectations. The market sentiment is upbeat, boosting risk-sensitive currencies like the Sterling. Japanese Finance Minister said that currency stability is “very important” and will keep an eye on the forex market moves. The GBP/JPY extends its seven-day rally

USD/JPY soars during the week, despite US dollar weakness across the board. Rising US T-bond yields underpins the USD/JPY pair. US Retail Sales upwardly surprised, rose by 0.7%, more than expectations. The USD/JPY extends its one-and-a-half month rally, advances 0.47% during the New York session, trading at 114.21 at the time of writing. As portrayed by

In an interview with CNBC on Friday, Richmond Federal Reserve Bank President Thomas Barkin noted that inflation in the US is heavily driven by the auto sector, as reported by Reuters. Barkin further said that eventual rate rises depend on inflation and the state of the labour market. “The Fed has gone a long way

USD/CAD trades cautiously on Friday in the early Asian session. Bulls remain hopeful near 1.2370  a crucial support level. Momentum oscillator holds onto oversold zone warns caution against aggressive bids. USD/CAD trades with a cautious tone on Friday in the early Asian trading hours. The pair confides in a narrow trade band with no meaningful

EUR/USD adds to recent gains and surpasses 1.1600. Further up is located the monthly high at 1.1640. EUR/USD advances for the second straight session and leaves behind the key 1.1600 barrier on Thursday. Further recovery is expected to meet the interim hurdle at the 20-day SMA at 1.1631 ahead of the monthly peak at 1.1640

GBP/USD extends the previous session’s gains on Thursday in the initial Asian session. Lower US T-yields undermine the demand for the US dollar. Brexit led-woes, worker shortage, weaker domestic data keep a check on sterling. The GBP/USD pair extends gains on Thursday. The pair touched a high of 1.3667 in the previous session composed of

The aussie is moving around the mids 0.73. In the view of economists at ING, the cautious policy stance of the Reserve Bank of Australia (RBA) is not expected to send AUD/USD lower than 0.73 by year-end.  See: AUD/USD still seen lower at 0.72 on a three-month view – Rabobank Aussie is slightly less vulnerable to