FX

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

Share: Mexican Peso extends its rally, capitalizing on a weaker USD. Mexico’s GDP growth aligns with expectations and might refrain Banxico’s officials from easing monetary policy. Mixed US economic data, with improving business activity but a downturn in Manufacturing PMI, weighed on the USD/MXN pair. Mexican Peso (MXN) is set to finish the week on

Share: Sterling a moderate outperformer on the day. Economists at Scotiabank analyze GBP’s outlook. Charts remain bullish Sterling is edging closer to 1.2589 resistance (50% retracement of the July/October fall in Cable) and looks set for its highest weekly close since early September. Gains in the Pound have overcome the 100 and 200-DMA over the

Share: After more than a month of negotiations over ministerial roles and policies, New Zealand’s National Party has achieved an agreement with ACT New Zealand and New Zealand First to form the country’s next three-party coalition government, per Reuters.  The coalition announced a series of policy reforms, including the role of the Reserve Bank of

Share: Natural Gas prices fall further as a ceasefire breakthrough in Gaza looks imminent.  The US Dollar trades in the red again for this week, erasing Wednesday’s gains. Natural Gas prices could decline to $2.70 in a worst case scenario.  Natural Gas (XNG/USD) is sinking this week as a ceasefire deal in Gaza means less

Share: Gold rose the most in a month to north of $2,000. Strategists at TD Securities analyze the yellow metal’s outlook. The Fed has room to loosen monetary policy Weakening data and moderating inflation have prompted some to think the Fed has room to loosen monetary policy, with markets now pricing in a roughly 30%

Share: AUD/USD loses traction around the mid-0.6500s in early Wednesday.  The FOMC showed members agreed policy to remain at a restrictive stance for some time until inflation moves down toward the objective. The November RBA Board meeting showed a hawkish tone with a focus on risk management along with a data-dependent approach. Market players will