Forex News

AUD/JPY may be Ready for Next Leg Lower

Later, markets will get their first look at how Australian consumers feel about the US-China trade deal.  What is good for China is good for Australia as the economies are inherently tied through China’s demand for Australian goods.  The Westpac Consumer Confidence Change for January will be released with -0.4% expected vs -1.9% last.  In …

WTI Gaps Higher after Supply Disruptions

The US equity and bond markets are closed today in observance of Martin Luther King Jr. Day, however the fx markets are open, as well as the overnight session (which is abbreviated) for many futures products.  When the crude futures markets opened last night in the US, they gapped higher from a Friday close of …

GBP/USD at Key 1.3000 before Employment Data

Tomorrow, the UK will release December’s Claimant Count Change for the month of December.  The claimant change count is the number of new people who have applied for unemployment benefits.   A higher number than the expectation is bad (more people unemployed) whereas a worse number is good (less people filing for unemployment.)   This is different …

Week Ahead: Now that US-China Trade Deal is Signed, What’s Next?

Aside from the ceremonial signing of “Phase One” of the US-China Trade Deal, this past week was seemingly uneventful.  The US Senate passed the United State- Mexico-Canada Agreement (USMCA) and it is currently waiting President Trump’s signature. Things between the US and Iran in the Middle East have calmed down, and stocks have continued their …

USD/MXN Nearing Levels Not Seen Since 2018

USD/MXN has been in a symmetrical triangle since April 2018.  We have patiently been waiting to see which way it would break out as price approached the apex of the triangle.  As rumors began to swirl that the United State-Mexico-Canada Agreement (USMCA) could be ratified by congress, the Mexican Peso began to strengthen.  The strong …

OIL WEEK AHEAD: Davos’ Explosive Mix

The World Economic Forum in Davos usually provides ample headlines for the oil industry, but this year one strategic player will be absent. Russia’s president Vladimir Putin plans on staying at home to see through a constitutional shake-up he launched in January designed to keep him in power after the 2024 election. Instead, he is …

EUR/USD Holds Gains Ahead of a Busy Session

EUR/USD is holding gains from the previous session after ending Wednesday 0.2% higher. Improved sentiment following the signing of the US – China trade deal (finally!) helped lift the common currency versus the safe haven greenback. However the euro is struggling to push higher after the trade deal left many questions unanswered and lacked any …

USD/JPY higher as Philly Fed and Retail Sales Data is Stronger

The Philadelphia Fed Manufacturing Index for January was released earlier today, and it showed a strong uptick in activity at a reading of 17 vs a reading of 4 expected.  This is the strongest reading since May 2019.  Current new orders increased 7.1  points and the shipments index rose 7.7 points.  The stronger than expected …

EUR/GBP May Be Vulnerable with UK Retail Sales, ECB and BOE on Tap

The British pound is the day’s strongest major currency as traders look ahead to tomorrow’s UK retail sales report, which is expected to print at +0.5% m/m. That report is arguably the last significant macroeconomic release of the week, though looking ahead to next week, traders will be sure to key in on the European …

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