FX

Inflation expectations in the US dipped, as reported by the NY Fed. USD/CAD traders are eyeing a speech of Bank of Canada Governor Tiff Macklem. Consumer Price Index in the United States is forecasted to fall, which would weigh on the US Dollar. The USD/CAD remains positive during the day amidst a risk-on impulse, ahead

A pivotal week for FX and global asset markets lies ahead of us. The two key event risks are tomorrow’s US November CPI reading and Wednesday’s FOMC meeting. Economists at ING analyze how the US Dollar could react to these event risks DXY to go into tomorrow’s CPI release near its current 105 levels “Event

Europe and the G-7 started applying a price cap to oil prices, crude plunged. EU Commission President Von der Leyen anticipated more sanctions ahead. WTI trades near a weekly low of $71.11 a barrel, the lowest since December 2021. The barrel of West Texas Intermediate Crude Oil plummeted this week and trades at levels that

Bank of England to hike rates by 50 bps, fresh forecasts coming up. Concerns about a global economic setback weighed on US indexes. GBP/USD trades near its recent multi-month high of 1.2343. The GBP/USD pair peaked at 1.2321 after Wall Street’s opening but trimmed intraday gains and hovers at around 1.2280. The pair ends the

The US Michigan Consumer Confidence Index improved to 59.1 in December. The uncertainty surrounding the US Federal Reserve’s decision weighs on mood. EUR/USD eases following upbeat US data but holds above 1.0500. Despite a knee-jerk mid-week, the EUR/USD pair is comfortably trading above the 1.0500 threshold, seesawing around 1.0530 following the release of the December University

Gold trades flat when compared to Monday’s opening. US inflation data and/or the Fed and ECB could give new impetus to the Gold market next week, economists at Commerzbank report.  Gold will be affected by three major events next week “First, the US inflation data will be published – they could turn out to be more

A gap is increasingly emerging between the Fed’s outlook and market expectations. A sustained decline of inflation will justify only temporary setbacks in EUR/USD, economists at Commerzbank report.  Dollar caught between market and Fed “The Fed signalled that it is likely to adjust its rate outlook (the dots) to the upside at next week’s meeting

In the prior analysis, GBP/USD Price Analysis: Bulls in control and eye 1.2350, it was explained that the bulls took out a key resistance and so long as 1.2150 holds, there would be prospects of a rally towards 1.2350 and then 1.2450 for the days ahead. Read More… GBP/USD strengthens and tests levels above 1.2230 The GBP/USD is

Here is what you need to know on Thursday, December 8: Financial markets remain choppy in the second half of the week amid a lack of fundamental drivers and high-tier data releases. Participants stay on the sidelines ahead of next week’s key central bank announcements and major currency pairs struggle to make a decisive move

NZD/USD firms up on US Dollar weakness as focus switched to the Fed next week. China lifted sentiment with the nation announcing some easing in its zero-COVID strategy. NZD/USD is higher by some 0.75% in the day so far having climbed from a low of 0.6309 to a high of 0.6384 while the US Dollar gives up

Economists at Credit Suisse remain optimistic on Indian GDP, but that optimism is negative for the trade balance and the Rupee. They forecast USD/INR to trade in a 82-84 range in the short term. RBI will limit weakness at 84.00 in the short term “We remain optimistic on the outlook for Indian GDP, but that

NZD/USD bulls could be throwing in the towel here.  Bears eye a move to test the trendline support.        NZD/USD is trading around flat on the day, sitting near 0.6320 having stuck to a tight range of 0.6303 and 0.6354. There has been little in the way of a catalyst this week so

EUR/USD struggles to capitalize on its intraday uptick amid some buying around the USD. The better-than-expected German Factory Orders data also does little to provide impetus. The fundamental backdrop supports prospects for some meaningful corrective pullback. The EUR/USD pair surrenders its modest intraday gains to the 1.0520 area and refreshes the daily low during the

The Euro is falling against the US Dollar after hitting a six-month high nearby 1.0600. US ISM Non-Manufacturing activity surprisingly jumped in the United States. Eurozone data was mixed, though tilted negative as Retail Sales dropped. EUR/USD Price Analysis: Upward biased, but could pull back to 1.0400 before testing 1.0600. The Euro (EUR) is almost

In the opinion of Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group, GBP/USD now shifts the focus to the 1.2400 region. Key Quotes 24-hour view: “Last Friday, we highlighted that ‘there is room for another leg higher in GBP to 1.2350 before the risk of a pullback increases’. However,

The USD/JPY retraced from daily highs of 120 pips, as the USD is being offered. USD/JPY: Daily close below the 200-DMA opens the door for a drop to 131.70s. The US Dollar (USD) gave away its earlier gains courtesy of upbeat economic data revealed in the United States (US) and dropped 0.52% against the Japanese

NZD/USD is set to finish the week with gains of 2.56%. The November US Nonfarm Payrolls suggested a tight labor market, so the Federal Reserve needs to keep hiking rates. NZD/USD Price Analysis: Daily close above 0.6400 exacerbates a rally towards 0.6570s. The New Zealand Dollar (NZD) climbed against the US Dollar (USD) for the

The Indian rupee is likely to depreciate moderately due to the potential strengthening of the US dollar in the near term, according to analysts at MUFG Bank. They forecast USD/INR at 82.300 by the end of the first quarter of next year and at 80.500 by the third quarter.  Key Quotes: “Tracking gains in most