FX

Share: Gold pulls back after testing $2,070 ahead of Friday’s pre-holiday close. Rising investor bets of faster, more frequent Fed rate cuts squeeze Gold higher. US inflation continues to cool off, Treasuries ease back amidst risk appetite recovery. XAU/USD briefly tested above $2,070 on Friday before paring back toward the day’s opening bids. With the

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 GBP/USD is holding on the high side after US PCE inflation settled further on Friday. UK Retail Sales grew in November, Pound Sterling bidders shrug off UK GDP QoQ decline. US Dollar flows are decidedly bearish, propping up the broader market. The GBP/USD is on the high side amidst some rough chop in

Share: The GBP/USD is on the high side amidst some rough chop in the US market session, holding above the 1.2700 handle the pair reclaimed during the European trading window after the UK reported better-than-expected Retail Sales in November. Read More… The Pound Sterling (GBP) extends its recovery on Friday, supported by upbeat UK Retail Sales data

Share: Economists at Danske Bank view narrowing rate differentials between Japan and G10 to favour the JPY over the coming year. Yield differentials to be a tailwind for the JPY over the coming year We forecast USD/JPY to steadily decline below 135 on a 12M horizon. This is primarily because we believe that long US

Share: DXY Index plunged towards the 101.90 area, posting 0.40% daily losses. Gross Domestic Product of the United States expanded at an annual rate of 4.9% in Q3, revised from 5.2% US Jobless Claims accelerated in the second week of December. The US Dollar (USD) measured by the DXY index plunged to 101.90 and nears

Share: NZD/USD grapples to gain ground after retreating from a five-month high at 0.6298. Improved US data showed positive signs for the US economy, providing support for USD. Investors await US GDP data for further impetus on the US economy. NZD/USD holds its position below 0.6250 during the early European hours on Thursday, struggling to

Share: The Mexican Peso is middling on Wednesday but keeping close to the top end. Mexico’s October Retail Sales came in better than expected. US Dollar flows helping to prop up MXN despite a dovish Banxico. The Mexican Peso (MXN) is holding in place, pinned into recent highs against the US Dollar (USD) as broad-market

Share: Indian Rupee edges lower despite the softer USD. The Reserve Bank of India (RBI) pushed back against the IMF, saying the intervention in the currency market was excessive. Q3 US GDP growth, Core Personal Consumption Expenditures Price Index (PCE) will be closely watched this week. Indian Rupee (INR) trades on a softer note on Wednesday

Share: Mexican Peso advances against the US Dollar, USD/MXN threatens 17.00 support area. Mexico’s economic docket ahead includes Retail Sales on Wednesday, followed by Thursday’s inflation data. US housing data was solid but failed to move the needle in favor of the US Dollar, which remains on the defensive. The Mexican Peso (MXN) continues to

Share: Australian Dollar remains bullish after the RBA meeting minutes release. Australian policymakers suggest further tightening will depend on data and assessment of risks. New York Fed President John Williams dismissed speculation regarding a potential rate cut in March. The Australian Dollar (AUD) moves on an upward trajectory for the sixth successive session on Tuesday as

Share: AUD/USD pulls back from recent five-month highs of 0.6735 amid a rebound in US Treasury bond yields. Regional Federal Reserve officials had pushed back against rate cut expectations. Traders await the Reserve Bank of Australia (RBA) last meeting minutes. The AUD/USD retreats from five-month highs of 0.6735 and drops below the 0.6700 figure courtesy

Share: The Japanese Yen ticks lower against the US Dollar for the second straight day on Monday. The prevalent risk-on environment is seen as a key factor undermining the safe-haven JPY. The divergent Fed-BoJ policy expectations act as a headwind for USD/JPY and cap gains. Traders also seem reluctant to place aggressive bets ahead of

Share: DXY Index shows resilience despite the worst weekly performance over a month, hovering at 102.60. The US Dollar was lifted by strong S&P Global Services PMI figures from December. Dovish bets on the Fed may limit the upward movement.    The US Dollar (USD), measured by the DXY index, is trading at 102.60, posting

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: Mexican Peso dampened by a Fed official pushing back against interest rate cuts. The economy in the United States remains solid, according to a report by S&P Global. New York Fed President John Williams pushes back against rate cuts, a tailwind for USD/MXN. A Banxico survey shows economists expect 200 bps of rate cuts

Share: EUR/JPY stuck near 155.00 as momentum remains limited and markets fade the action. The Euro doesn’t have much to be bid about after Eurozone data misses expectations. The BoJ’s final appearance of 2023 is on the cards for early next week, due sometime Tuesday. The EUR/JPY is getting boxed into near-term lows around the

Share: USD/CHF sees a limited rebound on Friday after hitting four-month lows on Thursday. SNB no longer focusing on forex sales after latest rate decision. Coming up next week: SNB Quarterly Bulletin, US GDP & PCE. The USD/CHF is drifting back towards the 0.8700 handle on Friday after a tense week that saw the Swiss