FX

Share: The Japanese Yen kicks off the new week on a stronger note and touches a three-month high against the USD. A combination of factors tempers investors’ appetite for riskier assets and boosts demand for the safe-haven JPY. Dovish Fed expectations, falling US bond yields undermine the USD and exert downward pressure on USD/JPY. The

Share: EUR/GBP was seen at 0.856 with a downside movement of 0.70%, it lowest since early September. In the daily and 4-hour chart, indicators hit oversold conditions after a seven-day losing streak. The cross will also close a 1.40% weekly loss. In Friday’s session, the EUR/GBP pair was seen at 0.8560 after a downward rally

Share: The DXY Index is seen with losses around 103.15, after reaching a high of 103.70, above the 200-day SMA. Fed Chair Powell warned that the bank will hike again if needed, keeping its data-dependency approach. The US ISM Manufacturing PMI declined in November, as expected. Next week, the US will release November’s Nonfarm Payrolls

Share: Mexican Peso finished November with gains of more than 3.60% and began December in a positive tone. Mexico and US interest rate differential favors the Peso, as Fed officials have shifted dovish. Fed Chairman Powell acknowledges a decrease in inflation but stresses the need for more evidence to achieve the 2% target. Mexican Peso

Share: The NZD/USD gains three-quarters of a percent on Friday to etch in a seventh straight gain. The Kiwi is up 2% against the US Dollar heading into the tail end of Friday’s trading session. Thin Kiwi data next week gives way to another bout of US NFP data next Friday. The NZD/USD is continuing

Share: Unemployment Rate increases to 3.8% in Canada in November, the highest since January 2022.  Canadian economy adds 24,900 jobs, surpassing expectations of 15,000.  Canadian Dollar rises modestly after the report, USD/CAD holds near two-month lows.  The Unemployment Rate in Canada rose from 5.7% in October to 5.8% in November, as expected, Statistics Canada reported

Share: Reserve Bank of New Zealand (RBNZ) Deputy Governor Christian Hawkesby said on Friday, “high and sticky core inflation leaves little room for error.” Additional comments Need to take seriously that some inflation expectation measures have ticked up. New Zealand needs a period of very subdued spending. Vast majority of borrowers able to services their debt at

Share: GBP soft in line with broader USD tone. Economists at Scotiabank analyze Cable’s outlook. A minor double top around 1.2730 has been struck Sterling’s losses on the session look a little more challenging from a short-term technical point of view. A minor double top around 1.2730 has been struck, targeting a drop in the

Share: The Japanese Yen continues with its relative outperformance amid hawkish BoJ expectations. Bets for a series of rate cuts by the Fed in 2024 undermines the USD and weighs on USD/JPY. Bears turn cautious and look to the US PCE Price Index before positioning for a fresh impetus. The Japanese Yen (JPY) remains on the

Share: The US economy grew at an annual rate of 5.2% in Q3; revised from 4.9%. The US Dollar Index stays in positive territory around 102.80. The real Gross Domestic Product (GDP) of the United States expanded at an annual rate of 5.2% in the third quarter, the US Bureau of Economic Analysis’ (BEA) preliminary

Share: Australian Dollar continues its winning streak despite downbeat Aussie monthly CPI. Australia’s Monthly Consumer Price Index declined by 4.9% in October against the expected 5.2%. US Dollar Index loses ground despite the better-than-expected US economic data. The Australian Dollar (AUD) is on a winning streak, extending its gains for the fifth consecutive day on

Share: The Greenback trades flat, attempting to push against the recent downtrend.  US traders will hear from no less than four Fed members this Tuesday.  The US Dollar Index is steady above 103 and tries to head back to 104. The US Dollar (USD) is trying to put up a fight this Tuesday as the

Share: Australia’s Retail Sales, a measure of the country’s consumer spending, dropped by 0.2% MoM in October from the previous reading of a 0.9% rise, according to the official data published by the Australian Bureau of Statistics (ABS) on Tuesday. The figure came in worse than the market expectation for an increase of 0.1%. Market

Share: EUR/USD remains firm. Economists at Scotiabank analyze the pair’s outlook. Solid bull trend develops The EUR uptrend persists and is backed by bullishly aligned trend oscillator signals on the intraday, daily and weekly charts. This implies a solid technical uptrend is playing out and that the EUR will remain well supported on – likely

Share: EUR/USD loses ground near 1.0935 on renewed USD demand.  The German economy started the second half of the year with a modest economic slowdown. US S&P Global Composite PMI held steady at 50.7 in November. Traders will focus on the German and Eurozone inflation data and US GDP data for fresh impetus.  The EUR/USD

Share: NZD/JPY rallies 0.70% to stand at 91.00 as buyers take control. The cross seems to be on its way to retest last Friday’s highs around  91.15. Daily chart: RSI is approaching overbought territory, and MACD exhibits increased buying momentum. Despite the overbought status in the four-hour chart, the overall trend remains bullish above mains SMAs.

Share: The DXY Index declined to 103.45, a 0.30% loss. The index will tally a 0.30% weekly loss as well. S&P PMIs showed a mixed outlook, with the manufacturing sector weakening and the service sector expanding. The US Dollar (USD) is receding on Friday with the DXY index,  which measures the value of the US

Share: USD/JPY shows minimal change, indicating a stable weekly close. The weekly chart suggests an upward trend with resistance at Tenkan-Sen (149.53); a break above could target 150.00. USD/JPY daily chart key levels to watch include 150.77 and YTD high at 151.91 for upside, 148.01, and 147.15 for downside. The USD/JPY is almost flat late