Author: FX

The Dow Jones Industrial Average (DJIA) retreated from record intraday highs on Friday alongside its major index peers as investors continued rotating out of technology and into value-oriented sectors. The Dow briefly hit a new intraday record before pulling back 0.30%. Despite some deflation in the US tech space in the back half of the trading week, the Dow is on pace to finish the week on a high note, up 1.26% from Monday’s initial bids.The S&P 500 (SP500) fell 0.8%, and the Nasdaq also dropped 1.3%, weighed down by a sharp 10% decline in Broadcom (AVGO) following concerns about…

Bullish Momentum Extends for a Third WeekThe AUDUSD moved higher for the third consecutive week, extending to its highest level since September 17th. This upside momentum began after the pair bottomed on November 21 near the high of a swing area between 0.6407 and 0.6424.During this run, the pair successfully cleared a series of critical technical hurdles, including:The 200-day and 100-day Moving Averages.The 50% retracement level.The 61.8% retracement at 0.6597.The Current Range: Resistance vs. SupportThis week, the price extended above a swing area between 0.66247 and 0.6635, reaching a weekly high of 0.66845. However, buyers ran out of steam just…

The Australian Dollar (AUD) holds firm against the US Dollar (USD) on Friday as traders look past this week’s Reserve Bank of Australia and Federal Reserve (Fed) monetary policy announcements and reassess the near-term interest-rate outlook. At the time of writing, AUD/USD is trading around 0.6656, stabilising after a short-lived dip toward 0.6632.The Reserve Bank of Australia (RBA) held its cash rate steady at 3.60%, marking a third consecutive pause while signalling a cautious, data-dependent stance amid lingering inflation risks. By contrast, the Federal Reserve delivered a 25 basis point (bps) rate cut, lowering the Federal Funds Rate to the…

A Strong 3-Week RecoveryThe NZDUSD is up for the third week in a row after bottoming on November 21 at 0.55758. The move to the upside has taken the pair to a high this week of 0.5830, representing a significant recovery over the last 16 trading days:The Technical Battle: 100-Day Moving AverageThis week’s rally briefly extended above the 100-day moving average at 0.58025—the first time price has traded above this level since September 18. However, the momentum hit a wall near a cluster of key resistance levels.Where Sellers Stepped In: The run to the upside stalled near the low of…

Pound Sterling drops as UK GDP shrinks for second straight monthThe Pound Sterling (GBP) faces selling pressure against its major peers on Friday following the release of the United Kingdom (UK) Gross Domestic Product (GDP) data for October. The GDP report showed that the economic growth contracted again by 0.1%, missing expectations of a 0.1% expansion. Read More…GBP/USD steadies at fresh near-term highsGBP/USD is holding firmly in bullish territory heading into the tail end of the week, but Cable bidders ran into a technical resistance point at the 1.3400 handle on Thursday. The Federal Reserve (Fed) delivered a third straight interest rate cut…

With the Dow industrial average down -0.47%, the S&P down -1.36% and the NASDAQ index down -2.0%, the European declines today are modest. The UK’s FTSE 100 led the declines, likely weighed down by earlier reports that the UK economy unexpectedly shrank in October.A snapshot of the closing levels shows the:European Market Close SummaryIndexCountryLast PriceChange% ChangeDEU40 (DAX)Germany24,211.36-83.26-0.34%CAC40France8,068.62-17.15-0.21%UKX (FTSE 100)UK9,649.02-54.15-0.56%FTMIBItaly43,513.94-188.06-0.43%IBEX 35Spain16,854.40-28.60-0.17%Key Drivers for the Day:UK Weakness: The FTSE 100 underperformed its peers (-0.56%) after data revealed the UK GDP contracted by 0.1% in October, dampening investor sentiment despite expectations of a Bank of England rate cut next week.Broad Tech Pressure: The…

SNB Policy: Rates on Hold, “Expansive” Stance RemainsThe Swiss National Bank (SNB) kept rates unchanged earlier this week at 0.0%. Following the decision, comments from SNB Chairman Martin Schlegel—combined with technical resistance—helped push the USDCHF lower (strengthening the CHF).Key Takeaways from Chairman Schlegel:Policy Stance: Schlegel stressed that the current stance remains “expansive” and supportive of growth.Inflation Outlook: Midterm inflation pressures are essentially unchanged. He downplayed recent softer inflation readings, expecting inflation to rise gradually as accommodative policy and growth prospects take effect.FX & Rates: Low interest rates remain effective via the exchange rate. The SNB stands ready to intervene in…

EUR/USD holds firm at around 1.1741 on Friday, virtually unchanged, amid a parade of Federal Reserve (Fed) officials crossing the wires, following last Wednesday’s 25 basis points rate cut.EUR/USD tilted to the upside despite hawkish Fed comments tempering dovish expectationsDespite cutting rates, the Fed hinted that it would pause its easing cycle, entering a wait-and-see period as it digests delayed economic data due to the US government shutdown.In the meantime, Cleveland Fed Beth Hammack was hawkish, saying that “price pressures have been too high,” adding the Fed’s commitment to achieve inflation 2% goal. She added that the Fed decision was…

Here is a snapshot of the US stock market today, Friday, December 12, 2025, highlighting the “Tech Wreck” narrative driving the major declines you are seeing.Market Summary: The Great Rotation IntensifiesThe divergence in the market has widened significantly today. Investors are aggressively rotating out of high-flying technology and AI stocks—sparked by disappointments from key sector leaders—and moving capital into safer, cyclical sectors (like the industrials supporting the Dow).NASDAQ: -1.76% (Bearing the brunt of the sell-off)S&P 500: -1.17%Dow Jones: -0.50% (Outperforming relatively, thanks to industrial support)The sea of red in your list is largely driven by a “contagion effect” from two…

The Pound Sterling (GBP) remains under pressure heading into 2026 amid flat UK growth and the Bank of England’s ongoing easing cycle. Political uncertainties and ECB rate expectations support a gradual rise in EUR/GBP, projected to reach 0.89 over the next six months, Rabobank’s FX analyst Jane Foley reports.UK growth flatlines as BoE easing persists”Despite the relief that followed the UK’s November budget, the pound still faces headwinds into 2026. UK growth appears to be flatlining and the BoE is now in a minority of G10 central banks considered by the market to be still in the throes of its…