Author: FX
The AUD is the strongest and the GBP is the weakest as the North American session begins. The USD is mixed with the largest decline vs the AUD (-0.43%) and the largest increase vs the GBP (+0.20%)/ The other USD changes vs the major currencies are 0.15% or lower. In Europe, the UK retail sales experienced a significant decline in retail sales, underperforming expectations across several key metrics. The headline number fell -3.2% vs -0.5% estimate. Excluding fuel, year-on-year (YY) sales decreased by -2.1%, notably below the anticipated 1.3% growth. The month-on-month (MM) figures were similarly disappointing, with a ex…
Having to process a lot of market information and make quick trading decisions can be a challenge for most of us. Imagine having to look into the results of an economic report, the underlying details, how analysts are interpreting the data, and how markets are reacting… all to come up with a quick trade decision based on a host of other information like price patterns, inflection points, and technical indicators in a matter of minutes of seconds! If reading the previous paragraph made you feel like running out of breath, then you should know that’s exactly how your brain goes…
Share: EUR/USD tested yearly lows in the mid 1.0800-1.0900 range. Economists at ING analyze the world’s most popular currency pair outlook. Markets were unmoved from the minutes of the December ECB meeting Markets were unmoved from the minutes of the December European Central Bank (ECB) meeting on Thursday, in which members steered away from discussing rate cuts. Today, the Eurozone calendar is empty, and we think EUR/USD can consolidate around 1.8500/1.0900. See: FX market likely to be reluctant to trade EUR lower before ECB meeting – Commerzbank Source link
UK Retail Sales, GBP/USD AnalysisUK retail sales contracts at fastest monthly rate since the Covid affected period of January 2021Choppy GBP/USD price action remains undeterred – highlighting key horizontal levelsBank of England rate decision presents the next major event risk on the horizonTake a look at our brand new Pound Sterling Q1 forecast below: Recommended by Richard Snow Get Your Free GBP Forecast UK retail sales fell 2.4% in December 2023 when compared to the same month in 2022, led by notable declines in both food and non-food store volumes as consumers feel the effect of higher interest rates.Non-store retailers…
da-kuk/E+ via Getty Images London (UKX) +0.07% UK retail sales drop 3.2% in December, significantly more than expected Germany (DAX:IND) +0.32% Germany producer prices drop 1.2% in December France (CAC:IND) +0.42% Slovakia’s current account deficit sharply narrowed to €195.8M in November 2023. The pan-European Stoxx 600 (STOXX) moved 0.25% higher, with all sectors in the green. ECB is likely to trim interest rates in the summer, President Christine Lagarde said on Wednesday, but she’s reserved about making such a call as “there is still a level of uncertainty.” Coming up in the session: No major line-up today. In the bond…
© Reuters. Russia’s Prime Minister Mikhail Mishustin delivers a speech during a session of the State Duma, the lower house of parliament, in Moscow, Russia April 7, 2022. Sputnik/Alexander Astafyev/Pool via REUTERs/file photo MOSCOW (Reuters) – The lower house of the Russian parliament, the State Duma, plans to formally ask France’s National Assembly if it is aware that French mercenaries have been fighting on Ukraine’s side, Vyacheslav Volodin, the Duma’s chairman, said on Friday. Volodin, an ally of President Vladimir Putin, made the statement after the Russian Defence Ministry said on Wednesday that its forces had killed more than 60…
I’m seeing a textbook correction play on this 4-hour chart of AUD/CHF! The forex pair already fell through its support zone at the .5750 minor psychological mark before pulling up from the lows near .5650. Take a look at these Fib levels I’m watching to gauge if sellers are about to return soon. AUD/CHF 4-hour Forex Chart by TradingView Weaker than expected data from China and employment figures from Australia both weighed on AUD pairs earlier this week. Not only did these dampen RBA rate hike expectations, but the downbeat results also hurt investors’ appetitive for riskier holdings. As it…
10-year Treasury yields are at their highest in over five weeks, running close to 4.16% now after a break of its 200-day moving average. The surge higher in yields was a problem for markets earlier this week but it wasn’t the case in trading yesterday.US Treasury 10-year yields (%) daily chartThe dollar ended up trading more sluggishly and equities raced higher as tech shares were at the wheel, ignoring the action in the bond market. But can broader markets really do that for two days in a row?There’s an old adage that reads the bond market is always right. And…
Share: The Japanese Yen languishes near its lowest level since November 28 against the USD. Japanese consumer inflation eases as expected and reaffirms bets for a BoJ status quo. A positive risk tone also undermines the safe-haven JPY and lends support to USD/JPY. Reduced bets for a March Fed rate cut and rising US bond yields favour the USD bulls. The Japanese Yen (JPY) remains on the back foot against its American counterpart during the Asian session on Friday and is well within the striking distance of its lowest level since November 28 touched earlier this week. The…
© Reuters. DAVOS – At the World Economic Forum (WEF) held this week, Sunarso, the Director of Bank Rakyat Indonesia (IDX: BBRI), highlighted the bank’s initiatives aimed at fostering inclusive economic growth and expanding employment opportunities in Indonesia. Sunarso discussed the challenges Indonesia faces, such as stagnant economic growth and persistent poverty, and emphasized the importance of establishing engines for inclusive economic growth. He pointed out that BRI, as a state-owned enterprise, is not only focused on profitability but also on reinvesting to stimulate economic development and social impact. The Ultra Micro Holding initiative, a collaborative effort by BRI, Pengadaian,…