FX

The index manages to leave behind part of the recent strong decline. US yields kicks in the week on the defensive across the curve. FOMC’s L.Brainard is due to speak later in the NA session. The dollar appears somewhat bid at the beginning of the week and briefly revisits the 107.00 neighbourhood when gauged by

The USDJPY is set to finish the week with losses of more than 5%. From a daily chart perspective, the USDJPY is neutral-to-downward biased if the major stays below the 100-day EMA. The USDJPY extended its free fall and plummeted another 200 plus pips on Friday, below the 100-day Exponential Moving Average (EMA) at 140.76.

The Euro finds sellers at 0.8775 and remains moving sideways. UK economy contracts less than expected in Q3. EURGBP: Still keeping the three-month forecast at 0.89 – Rabobank. The Euro recovery attempt from Thursday’s lows at 0.8695 has been capped at 0.8775 in Friday’s early US session before retreating to 0.8740. From a wider perspective, the

EURUSD finished up in the week close to 4%, spurred by a weak US Dollar. Softer-than-expected US CPI report and consumer inflation expectations rising tumbled the US Dollar. The double-digit inflation level in Germany underpinned the Euro. EURUSD Price Analysis: Upward biased, might test the 200-DMA in the short term. The Euro (EUR) finished the

The GBP extended its gains towards 1.1790s after a soft US inflation report. The US Dollar plunges sharply, as shown by the US Dollar Index, down 1.20%, below the 107.000 mark. Consumer sentiment in the United States worsened as inflation expectations rose. The Pound Sterling rises in the North American session, following a softer inflation

The Dollar dives to fresh six-week lows at 1.3255. The CAD extends gains on higher oil prices and risk appetite. US consumer sentiment deteriorated beyond expectations in November. The US Dollar has extended losses against its Canadian counterpart on Friday, reaching a fresh six-week low at 1.3255. The pair remains on the defensive after having depreciated

Economists at Danske Bank expect the British Pound to shrug off the UK Autumn Statement due out on November, 17.  Global investment environment to weigh on GBP “Going forward, we increasingly expect the global investment environment to weigh on GBP as we expect domestic political themes to take a back seat. This is a result

Australian Dollar’s rally from the 0.6385 area, capped at 0.6600. The pair remains 2.2% up on the day, consolidating above 0.6540 previous resistance level. Greenback’s weakness after US CPI data has boosted the AUD. The Australian Dollar’s rally from session lows at 0.6385 has been capped at a fresh six-week high a few pips shy

USDCAD struggles to capitalize on its modest intraday uptick amid modest USD weakness. Bearish crude oil prices undermine the Loonie and help limit the downside for the major. Traders now look forward to the crucial US CPI report before placing fresh directional bets. The USDCAD pair fades an early European session spike to a fresh

The Aussie extends its reversal from 0.6550 to 06420 so far. A more cautious market mood has favored the safe-haven USD. AUDUSD: Support at 0.6210 is key to defend the recent up move  – SocGen. The Aussie has gone through a significant pullback on Wednesday, with the pair extending its reversal from 0.6550 high on

The main focus is still on tomorrow’s US Consumer Price Index (CPI) report. If Core inflation beats expectations, the US Dollar could edge higher again, economists at Credit Suisse report. Core goods inflation to be close to flat “We are looking for core goods inflation to be close to flat as it was last month

Gold is on the move and on the backside of a key trendline. The US Dollar is under pressure to test a key daily trendline.  The Gold price is running higher on the day as the US dollar falls away while XAUUSD head close to the $1,720s scoring a high of $1,716.97 so far. DXY, an

The US Dollar declined further yesterday. Is the USD now weakening sustainably? Economists at Commerzbank think it is still too early for that. Waiting for US inflation data “The Fed has once again made it clear that it will actively fight high inflation. However, it is certainly also hard to imagine that the Fed will

USDCAD bulls were knocked back as the US Dollar slumps again. All eyes are on US CPI and Fed speakers this week.  USDCAD is trading flat on the day following an initial surge in the early part of the New York session into shorts established at the start of the day in Asia and London.

Why is the Dollar easing? There are sufficient convincing arguments supporting USD strength, but their effect is reasonably weak if the Dollar is already “expensive” anyway, economists at Commerzbank report. Fed will have to stifle the economy if inflation is due to shortages on the US labor market “A strong labor market report should have

The pound rallies 1.9% on the day to close the week near 1.1400. US unemployment and wage inflation data hit the dollar. The pound has shrugged off post-BoE’s bearish pressure. The pound has continued appreciating during Friday’s US afternoon trading, buoyed by the broad-based USD weakness, to reach session highs at 1.1380. The pair has

The AUDJPY is set to finish the week with gains of 0.40%. AUDJPY Price Analysis: Once it cleared 95.56, it could re-test the YTD highs at around 98.50. The AUDJPY edges higher, snapping three days of consecutive losses amidst an upbeat market sentiment, as Wall Street pared its losses, while the US Dollar dropped almost

GBPUSD appreciates further and reaches session highs near 1.1400 The pound has continued appreciating during Friday’s US afternoon trading, buoyed by the broad-based USD weakness, to reach session highs at 1.1380. The pair has shrugged off the previous day’s negative pressure on Friday, to perform a shocking 1.9% daily rally after bouncing from the lower