FX

Share: S&P 500 ended the week up by 0.9%, with the Nasdaq and Dow Jones also posting significant gains, reflecting a positive shift in investor sentiment. U.S. labor market data showing a slowdown in job growth fueled speculation that the Federal Reserve may halt rate hikes. Fed officials Thomas Barkin and Neil Kashkari highlighted the

Share: The GBP/USD is climbing into the 1.2400 handle to cap off a trading week that saw the pair mostly flounder around the averages. After US Nonfarm Payrolls (NFP) came in well below expectations the Pound Sterling (GBP) climbed 1.6% from Friday’s opening bids near 1.2190, and the GPB/USD is up almost 2.5% from the

Share: USD/CHF drops sharply, signaling potential end to Fed’s rate hikes with investors favoring CHF. Pair’s fall below the 50 and 200-day moving averages at 0.9000 could lead to further declines. For recovery, USD/CHF needs to breach 0.9000, targeting the November 1 high at 0.9112. USD/CHF plummets in the mid-North American session on Friday after

Share: AUD/USD edges higher to 0.6435 on the softer USD, risk appetite. Reserve Bank of Australia (RBA) is likely to raise the rate by 25 basis points (bps) next week. Market participants will closely focus on US employment data, including Nonfarm Payrolls. The AUD/USD pair extends its upside during the early European trading hours on

Share: USD/CHF fell to 0.9050, seeing 0.30% losses. The USD is losing interest due to the Fed dovish tone on Wednesday’s decision. Ahead of October’s Nonfarm Payrolls, the US reported weak labor market data. Indicators flash signals of further downside. In Thursday’s session, the USD/CHF saw red, mainly driven by a broad USD weakness following

Gold price gains positive traction on Thursday amid sliding US bond yields and a weaker USD. Geopolitical tensions and China’s economic woes also contribute to the intraday positive move.  A further rise in equity markets caps any meaningful upside for the safe-haven precious metal. Gold price (XAU/USD) attracts fresh buying on Thursday, albeit lacking a

Share: Federal Reserve Chairman Jerome Powell explains the decision to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% and responds to questions. Follow our live coverage of the Fed’s monetary policy announcements and the market reaction. [embedded content] Fed meeting press conference key quotes “We will make decisions on totality of

Share: Most Asian equities trade on a flat note ahead of the Federal Open Market Committee (FOMC) meeting. The downbeat China’s Caixin Manufacturing PMI added worries about sluggish economic conditions in China. Japan’s Nikkei leads gains after the Japanese top currency diplomat came out with verbal intervention. The FOMC rate decision will be closely watched

Share: EUR/GBP falls from a 5-month high of 0.8754, currently trading at 0.8705. Eurozone inflation drops to 2.9% in October, while GDP for Q3 misses forecasts, contracting by 0.1%. The Bank of England is expected to keep rates unchanged at 5.25% on November 2, as traders priced in rate cuts towards the end of 2024.

Share: Economist Lee Sue Ann and Markets Strategist Quek Ser at UOB Group suggest GBP/USD is now seen trading within the 1.2085-1.2240 band in the next weeks. Key Quotes 24-hour view: We expected GBP to trade in a range of 1.2085/1.2155 yesterday. GBP dipped to a low of 1.2090 before staging a surprising sharp rise to

Share: Japanese Yen strengthens (USD/JPY lower) on Nikkei report.  The week ahead includes key meetings of the Bank of Japan and the Federal Reserve. USD/JPY falls 100 pips on BoJ yield curve rumor. The Japanese Yen (JPY) surged against against the US Dollar on Monday but is now clinging onto the 149.00 handle. The USD/JPY crashed after Nikkei Asia reported

Share: USD/JPY hovers around 149.65 ahead of the key events from the US and Japan. Core US PCE eased to 3.7% YoY in September vs. 3.8% prior, the monthly Core PCE rose by 0.3% vs. 0.1% prior. Analysts anticipate the Bank of Japan (BoJ) is nearing the end of its ultra-accommodative monetary policy. Market players

Share: The S&P 500 is extending declines into a two-week stretch, down over 5% for the period. S&P index down over 10% from the July peak at $4,600, enters correction territory. US Equities mixed on Friday as recession fears, lopsided earnings reports drag on stocks. The Standard & Poor’s index marked in the second losing

Share: EUR/JPY trades at 158.06, down 0.48%, as BoJ normalization speculations gain traction. Escalating Middle East conflict bolsters safe-haven assets, including the Japanese Yen. ECB’s decision to hold rates and scaled back positions for further hikes also weighs on EUR/JPY. The Euro (EUR) lost a step against the Japanese Yen (JPY) on Friday, on speculations

Share: Japanese Yen rebounds after Tokyo inflation data increases bets the Bank of Japan (BoJ) will tighten policy.  The US Dollar loses traction after US inflation comes out in line with estimates. The USD/JPY remains in uptrend but price falling to key make-or-break trendline for short-term chart.  The Japanese Yen (JPY) has climbed against the US

Share: The US Dollar is trading soft against its rivals and seems to be consolidating the last session’s gains. The Core PCE from September matched expectations at 3.7% YoY. The US bond yields are mixed, while dovish bets on the Fed remain high. Focus now shifts to next week’s Fed decision. The US Dollar (USD)

Share: The Canadian Dollar continues to lose ground, down 1% on the week. Loonie traders will be looking ahead to Canada GDP figures next Tuesday. Crude Oil prices also down for the week, draining support from the CAD. The Canadian Dollar (CAD) is seeing more declines for Friday and is set to mark a fourth

Share: USD/JPY meets with some supply on Friday and snaps a three-day winning streak to the YTD top. Intervention fears benefit the JPY and exert pressure on the pair amid subdued USD price action. The divergent Fed-BoJ policy outlook should limit the downside ahead of the US PCE Price Index. The USD/JPY pair edges lower