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Gold futures drifted around the unchanged mark early Thursday, tracking a little-changed dollar index and firmer stock indicators that hinted equities markets would bounce back from the Dow’s 138-point drop a day earlier. December gold GCZ7, -0.05% fell about 10 cents, or less than...

The Bank of England (BOE) Governor reiterating his comments on Brexit from the ECB forum during an interview with ITV on Thursday. Key Quotes:

According to Peter Dragicevich, Research Analyst at Nomura, after following the pull-back in the wake of the cautious October ECB meeting, EUR is recovering. Key Quotes: “Although eurozone inflation pressures are subdued, the underlying growth pulse in the eurozone economy remains...

Forex today witnessed a better sentiment towards risk assets, tracking the risk-recovery seen on Wall Street and Treasury yields overnight. As a result, the US dollar extended its rebound across the board, leaving most majors on the back foot. However, the Aussie bucked the...

Global stock markets stabilized somewhat in Asia on Thursday, following broad weakness since the end of last week, with shares in Japan gaining after six straight sessions in the red. The Nikkei Stock Average NIK, +0.63% was up 0.6%, recovering from Wednesday’s 1.6% decline, though the index was still off 3.5% since closing at a 25-year high on Tuesday last week...

The pair gained extra upside traction today after US Core inflation figures gauged by the CPI rose above estimates at an annualized 1.8%, while headline retail sales expanded 0.2% on a monthly basis in October, also bettering prior surveys.

Gold continued gaining some positive traction through the early European session and was seen building on overnight recovery move from over 1-week lows.The greenback selling pressure remained unabated on Wednesday, with the key US Dollar Index dropping to...

The selling bias around the greenback continues to give oxygen to the upside momentum in EUR/USD, which is now stabilizing in the mid-1.1800s. The pair has quickly left behind the 1.1830 area today, which was an interim resistance and represents the highest level...

The AUD/USD pair has managed to recover some of its early lost ground to 4-month lows and might now be looking to build on the rebound beyond the 0.7600 handle. Investors seem to have digested today's disappointing Australian wages data, with a fresh wave of greenback selling pressure helping the pair to...

EUR/USD focused on ECB-speak, US data. The pair is up for the sixth session in a row today, navigating the area of multi-week tops at the same time and shifting its focus on the 1.1840 area, daily highs in late October just before the latest ECB meeting...

According to Yujiro Goto, Research Analyst at Nomura, investor interest in the BOJ leadership change has been increasing with media interviews (Bloomberg and Reuters) with Etsuro Honda, one of the possible candidates for the next governor, attracted market interest last week. Key Quotes: “Mr Honda argues that the BOJ needs a new leader to achieve its inflation goal...

Risk-off sentiment extended into Asia and emerged the key theme across the fx board, boosting the demand for the safe-havens Yen, CHF, and gold at the expense of the risk assets such as the equities, oil, GBP, and Antipodeans. The risk-averse market condition is mainly driven by...

Following a modest uptick on Monday, gold came under some renewed selling pressure and touched over 1-week low level of $1270 in the past hour. A fresh wave of global risk-on trade, as depicted by bullish trading sentiment across European bourses was seen...

The greenback, in terms of the US Dollar Index (DXY), is extending its erratic fashion during the first half of the week and is now hovering over the 94.50/45 band. US Dollar focused on yields, Yellen

A powerful combination of quite robust global demand growth, sharply lower US inventories, OPEC/Russia supply discipline and disruptions and increased geopolitical risks have prompted investors to take aggressive long positions of late, according to analysts at TDS. Key Quotes “Strong demand is expected to rebalance the global oil market in times of supply constraints. OPEC raised estimates for the amount

Analysts at TDS point out that we have a slew of Eurozone data today, with the highlight likely to be the first print of German Q3 GDP. Key Quotes: “Here we look for a 0.7% q/q gain, a bit stronger than...

Global equity markets were lower in Asia on Tuesday, as a pullback in commodity shares dragged Australia’s benchmark index lower, while tighter liquidity weighed on Chinese stocks. Commodity stocks have been key to the recent rebound for Australia’s underperforming equities market, helping the...

Gold futures ticked higher Monday even as a leading dollar index, which usually moves inversely to the yellow metal, traded in positive territory. Metals, currencies and interest-rate markets appeared to consolidate levels in early action after a...

The GBP/USD pair has managed to rebound around 30-pips from multi-day lows but was still seen struggling to move back above the 1.3100 handle. The British Pound fell sharply at the start of a new trading week amid speculation that the UK PM Theresa May could be...

The USD/JPY pair held weaker through the mid-European session and is currently placed at the lower end of the daily trading range, around 113.35-30 band. The pair struggled to gain any positive traction despite a goodish pickup in the US Dollar demand.

Credit Agricole CIB FX Strategy Research discusses its outlook for the FX market next week, noticing that the thematic focus would be on the inflation data releases from the US, Canada, UK, and the Eurozone. In the US, CACIB thinks that the USD may get little help from...

Lutz Karpowitz, Analyst at Commerzbank, suggests that Brussels is increasingly talking about how the British side has lost its sense of reality and for now the FX market is not yet focussing on the summit next month...

Broad-based GBP selling was the main underlying theme in Asia this Monday, driving risk-off flows across the financial markets on doubts over the UK PM May’s leadership. Hence, GBP/USD’s 40-pips gap down in early trades pushed the greenback broadly higher, rescuing the USD bulls after...

The Dollar always seems to struggle in the absence of tier one US economic data, so fortunately for the dollar bulls next week will offer up both US CPI and Retail sales. But given that the underlying inflation is expected to remain muted, the risk is skewed to a more significant upside response whereas only...

Oil prices paused their rally Friday, having soared over the past week after top exporter Saudi Arabia detained hundreds of individuals in a corruption investigation. Brent crude LCOF8, +0.02%, the global oil benchmark, was steady at...

The demand for the single currency remains well and sound at the end of the week and is now pushing EUR/USD to the critical resistance in the 1.1660/70 band.EUR/USD tests the ‘neckline’. The increasing selling bias around the greenback is now fuelling the upside...

More headlines crossing the wires from San Francisco Fed President Williams’ interview held earlier today. Key Points: A Dec rate hike makes sense, at least based on...

Reserve Bank of Australia forecast inflation to rise only gradually over time and the economy to grow at a solid pace as the drag on growth from the end of the mining investment boom has eased. In its quarterly Statement on Monetary Policy, released Friday, the Reserve Bank projected inflation to rise slightly to...

The Asian traders had little to cheer as quiet trading persisting across the fx board, as markets digested the latest political developments from the UK, US, and Australia. Meanwhile, the Aussie traded modestly flat below 0.77 handle on the back of RBA’s SoMP and risk-off market profile....

The GBP/USD pair quickly reversed a dip to sub-1.3100 level and has now rebounded around 40-pips from session lows. Currently trading around the 1.3125-30 region, the pair once again managed to rebound from the 1.3085 region and was being supported by persistent US Dollar selling bias...

All looks good in global equity markets as The MSCI Asia Pacific Index today broke its 2007 high to set a record as Japan’s Nikkei 225 reached levels last seen in 1992, according o Sean Callow, Research Analyst at Westpac. Key Quotes: The major US and Germany indexes have printed many record highs this year...

Nordea FX Strategy Research discusses EUR/CHF outlook in the near-to-medium outlook.The upwards trend in EUR/C HF has been halted, but otherwise several parameters as...

Asian stocks turned broadly higher by late morning Thursday, with some of October’s optimism returning to markets as investors continued to buy equities. Japanese stocks opened strong and held on to gains. The Nikkei Stock Average NIK, -0.48% was up 1.8% in early afternoon trading, topping 23,000 for the first time since January 1992

“SegWit2x’s goal was to double Bitcoin’s block size to two megabytes, which in practice increases speed and reduces fees. While most miners and many businesses supported the change, many of Bitcoin’s core developers opposed it.”

The EUR/USD pair tries hard to maintain the bids above 1.16 handle, as the US dollar remains on the back foot amid US tax reforms uncertainty, while a lack of fresh fundamental drivers leaves the rates at the mercy of the USD price-action. The spot bounced-off a dip to 1.1585 levels and extended that renewed uptick to post fresh daily tops at...

EUR/USD: 1.1615 To exit half of short position at 1.1540. EUR dipped to a low of 1.1578 yesterday, holding just above the ‘post-ECB’ low of 1.1573. While the bearish phase that started more than a week ago is still deemed as intact, downward momentum appears to be struggling and the prospect for...

Key Headlines: US Fed is on pace for December rate hike | 2018 hinges on inflation | Has not seen anything that...

After a strong start to the week, global stock markets were broadly lower in Asia on Wednesday, though Hong Kong equities outperformed as strong gains in one of the city’s biggest share listings this year drove buying interest. Solid buying pushed several stock indexes, including those in...

Analysts at Rabobank point out that the RBA left rates on hold at 1.50% yesterday as expected but added some key extra words to their copy-and-paste statement: “One continuing source of uncertainty is the outlook for household consumption”. Key Quotes: “Given household debt is...

The ounce troy of the precious metal is trading on the defensive on Tuesday albeit within a tight range around the $1,280.00 area.

The greenback held onto its strong gains and dragged the GBP/USD pair to fresh session lows during the early NA session. Mostly positive US macro data released late last week added to market expectations for a December Fed rate hike action, which coupled with...

CME Group’s preliminary figures for EUR futures markets saw investors trimmed their open interest positions by more than 1.9K contracts on Monday vs. Friday’s final 443,860 contracts. On the opposite side, volume retreated sharply by by more than 54.1K contracts.

EUR/USD: Bearish (since 27 Oct 17, 1.1640): Scope for extension to 1.1530. We have been bearish for more than a week now and since then EUR has not been able to make much headway on the downside. That said, the weak daily closing on Friday is encouraging for our view and we continue to expect EUR to move lower towards 1.1530.

Asia-Pacific stocks posted gains Tuesday after several days of little movement globally, allowing indexes in the region to hit fresh multiyear highs. A late-morning rush of buying, which some attributed to fresh foreign inflows, helped the Nikkei top its 1996 high and reach levels last seen in early 1992. Meanwhile...

Forex today witnessed yet another dull Asian session, in absence of key first-tier data. However, the US dollar managed to stage a minor rebound across its main competitors on the back of fresh buying seen around the Treasury amid persisting risk-on market profile...

Bank of Japan (BOJ) Governor Kuroda is back on the wires stating that the current yield curve control policy is sufficient to hit the 2 percent inflation goal. The BOJ minutes released in early Asia showed a couple of...

Credit Agricole CIB Research discusses AUD and NZD outlook ahead of next week's RBA and RBNZ November policy meetings. "The RBA and RBNZ will release a review of their policy rates and forecasts next week. Both are expected to...

Global stock markets were broadly lower in Asia on Monday, despite record gains on Wall Street, with Hong Kong lagging behind the region as China-related firms pulled back. The Hang Seng Index HSI, -0.63% was down 0.6% in afternoon Asian trade, after falling about 1.5%, amid declines in Chinese financial and property stocks...

The Japanese Yen ran into a wave of offers in Asia, courtesy of the dovish BOE minutes and pro-easing comments from BOJ Governor Kuroda. USD/JPY hit the highest level since March, EUR/JPY peeped above 133.00 handle, and AUD/JPY moved above the 100-day moving average (MA). Asian equities traded tentatively despite record gains on Wall Street. Japan’s Nikkei outperforming, tracking the weak Yen. Gold remained flat lined around $1270.

Busy week ends with disappointing US jobs report. The US dollar is mixed against major pairs on Friday. The greenback fell when the U.S. non farm payrolls (NFP) report showed the US economy added 261,000 jobs, 50,000 short of the forecast. Despite the ...

USD/JPY is once again rejected from the territory on the 114 handle in the wake of a miss in the nonfarm payrolls headline and wages and a drop in the participation rate. However, the unemployment is the lowest since 2001, but the lower participation rate needs to be acknowledged in that regard.

CME Group’s flash data for EUR futures markets showed open interest rose by nearly 5.4K contracts on Thursday vs. Wednesday’s final 441,010 contracts. In the same line, volume rose significantly by almost 38K contracts, up for the second session in a row.

BOE Deputy Governor Dr. Ben Broadbent crossed the wires last hour, via Reuters, speaking to the BBC Radio 4. Key Headlines: "This is a moderate rate rise..

The pair remains sidelined in the near term while it keeps the negative stance so far, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes: “EUR/USD’s outlook stays negative, the market last week...

EUR/USD Bearish (since 27 Oct 17, 1.1605): Scope for extension to 1.1530. No change in view, see update from yesterday below.EUR has been consolidating within relatively narrow ranges after the sharp decline late last week. As highlighted in recent updates...

Forex today was a quiet affair in Asia, with the Japanese traders celebrating Culture Day. In terms of the economic release, we had a big miss on the Australian retail sales data, which weighed down heavily on the Aussie. Meanwhile, the Kiwi benefited from stronger Chinese services PMI data and...

The post-BoE GBP selling remained unabated and pushed the EUR/GBP cross to fresh one-week high in the past hour, albeit has retreated few pips thereafter. Despite the historic BoE decision to hike rates for the first time since the financial crisis, a surprising cautious tone in the accompanying quarterly inflation report...

The fallout in the US dollar might be muted for the added fact that Taylor could still find himself on the FOMC in some capacity, with President still set to appoint three additional FOMC Governors – including a new Vice Chair to replace Stanley Fischer.

According to Jane Foley, Senior FX Strategist at Rabobank, September marked a sea-change in expectations regarding BoE policy as currently the market is around 80% priced for a 25bps rate hike on November 2 and the latest Bloomberg survey suggests that...

Forex today was taken by surprise on a sudden USD selling wave seen in Asia, as the US futures tumbled on reports of the proposal of a temporary cut in the corporate tax rates from 35% to 20% that would phase out after a decade. Most majors benefited the most from the...

EUR/USD: Bearish (since 27 Oct 17, 1.1605): Scope for extension to 1.1530. EUR has been consolidating within relatively narrow ranges after the sharp decline late last week. As highlighted in recent updates, despite the oversized drop, there is scope for extension towards the...

The US equity futures witnessed fresh selling in the Asian trades, fuelled by risk-off sentiment, as markets assessed the overnight comments from the US house tax committee Chairman Brady noting that, “the tax bill will only have temporary cut in the corporate rate from 35% to 20%.”

The AUD/USD pair trimmed some of its early strong gains and retreated around 20-pips from session tops to currently trade around the 0.7670-65 band. The US Dollar gained some additional traction in the last hour after the ADP report showed private-sector employers...

The EUR/USD pair extended its range-bound price action and remained capped below 1.1660 support turned resistance. Against the backdrop of last week's dovish ECB tapering decision, Tuesday's softer-than-expected October flash EZ inflation print partly negated...

“Financial markets remain sceptical over the Federal Reserve's predictions for the path of monetary policy. Uncertainty over who will lead the Fed, low inflation and some concerns about a potential government shutdown in December goes some way to explaining this.” “However, with Fed officials broadening out the factors justifying...

The ECB’s recalibration of QE purchases for 2018 was as expected: reduced bond-buying to EUR30bn per month for nine months and reinvestment of maturing assets well past the end of QE, according to analysts at ANZ. Key Quotes: “The central bank also updated its...

EUR/USD: Bearish (since 27 Oct 17, 1.1605): Scope for extension to 1.1530. No change in view. There is not much to add as we just shifted from a neutral to bearish stance last Friday. As highlighted, despite the large decline post-ECB, there is...

The BoE, FOMC, Fed chair announcement, tax reform details, perhaps more Mueller-inquiry related headlines, together with some key US data (ISM, payrolls) are all on the calendar for the next few days which are likely to result in surge in volatility, according to analysts at ANZ.

The bearish note around the European currency remains unchanged on Tuesday and is now taking EUR/USD to the 1.1630 region in the wake of key releases in the euro area. The pair remains unable to gather some traction today despite EMU’s advanced GDP figures...

EUR/USD: Bearish (since 27 Oct 17, 1.1605): Scope for extension to 1.1530. There is not much to add as we just shifted from a neutral to bearish stance last Friday (see Chart of the Day update). As highlighted, despite the large decline post-ECB, there is scope for...

According to Viraj Patel, Research Analyst at ING, ‘Sterling’s post-Brexit fall matters more for inflation than you think’ and it may well be one of the crucial messages the Bank of England signals this week as it looks set to hike rates. Key Quotes: “Bank officials will need to give the...

Big week for USD -Investors are braced for a heavy week in the US, with President Donald Trump expected to say whether he will replace Federal Reserve chief Janet Yellen, with the announcement likely by Friday before he embarks on an Asia tour.

The Bank of Japan (BOJ) concluded its 2-day monetary policy review meeting and announced no changes to its monetary policy settings, holding rates at -10bps, while maintaining 10yr JGB yield target at 0.00%. The BoJ vote was ... ‍

After an initial uptick to mid-0.8800s, the EUR/GBP cross ran through some fresh offers and drifted into negative territory for the fourth consecutive session. The cross extended its rejection slide from the key 0.9000 psychological mark and touched a 4-week low, around the 0.8815 region in the past hour.

According to analysts at TDS, the November FOMC meeting is likely to be uneventful: no changes to policy and no substantive changes in language, with no scheduled press conference or forecast updates. Key Quotes: We see two-sided risks..

Tankers carrying record levels of crude are leaving in droves from Texas and Louisiana ports, and more growth in the fledgling U.S. oil export market may before long test the limits of infrastructure like pipelines, dock space and ship traffic.

Credit Agricole CIB FX Strategy Research discusses the outlook for GBP, USD, and EUR for the coming week. n the GBP front, CACIB notes that the currency will be among the big movers ahead of the BoE’s inflation report. We are more constructive on GBP and expect the BoE to...

A quiet Asian affair today, with the only Japanese retail sales data released, which helped support the Yen against its American counterpart. Meanwhile, the US dollar remained largely subdued in tandem with Treasury yields, with the speculation rife that..

According to James Smith, Economist at ING, another strong growth figure should keep the Fed on track for a December hike, but its inflation, not growth, that is still the big headache for policymakers. Key Quotes: “The US economy is continuing to motor along at a fair pace...

US tax reforms advance as ECB avoids taper tantrum. The US dollar is trading higher against all major pairs in a week with little data. The week ahead in markets will be full of indicators as well as political events that will impact markets. The Bank of Japan (BOJ) will ...

Respondents to the ECB Survey of Professional Forecasters (SPF) for the fourth quarter of 2017 reported point forecasts for annual HICP inflation averaging 1.5%, 1.4% and 1.6% for 2017, 2018 and 2019 respectively, unchanged from the previous survey. Average longer-term inflation expectations...

GBP/USD: Neutral (since 11 Oct 17, 1.3205): Rebound has room to extend above 1.3340. Expectation for GBP to extend lower to 1.3025/30 was proven wrong quickly as a better than expected UK GDP data resulted in sharp and swift rally (taking out the key short-term resistance at 1.3230 with an overnight high of 1.3271).

Although not a policy tool, the ECB’s upper tolerance level for EUR/USD may not be much more than 1.20. The ECB is of the view that the improved economic outlook is still contingent on ECB support and implicitly loose financial conditions.

Broad-based US dollar strength extended into Asia, with the USD index clinching fresh 3-month tops near 94.80 levels, leaving most majors pressured in the red zone. The Aussie was the biggest loser, with losses accelerated on...

Asia-Pacific equities rose broadly on Friday, buoyed by strength in U.S. corporate earnings and the prospect of continuing stimulus in Europe. Ahead of the start of Asian trading, three of the world’s biggest companies ...

NAB FX Strategy Research discusses EUR/USD outlook ahead of the ECB meeting on Thursday. "We’re pretty much in with the crowd in expecting the current EUR60bn per month APP being cut to EUR30bn, which we think the ECB will...

After an initial uptick to 1.3279 level, 7-day tops, the GBP/USD pair met with some fresh supply and has now drifted into negative territory. The pair failed to build on previous session's UK GDP-led strong up-move and failed ahead of the 1.3300 handle.

Gold extended previous session's pull-back from 3-week lows and edged higher through early European session on Thursday. Currently hovering around $1280 area, off session tops touched in the past hour, the precious metal benefitted from a mildly softer tone around the US Dollar.

A global stock pullback moved into Asia on Thursday, with most markets down modestly following similar-sized declines overnight in Europe and the U.S., pausing what has been a big month of gains for many indexes...

EUR regained bid tone ahead of the ECB, but remains below 50-day MA ahead of the ECB. Common currency likely to take cues from the action in the bond yields post ECB. Having regained the bid tone on Wednesday, the common currency picked up...

The Japanese currency remains entrenched into the negative ground on Wednesday and is now helping USD/JPY to advance to fresh 3-month tops in the 114.30 area.The buying pressure around the pair stays on the rise today following the up move in yields of the US 10-year reference to fresh tops around the critical 2.45% neighbourhood, or 7-month peaks.

EUR/USD: Neutral (since 14 Sep 17, 1.1890): EUR is expected to drift lower to 1.1665/70. No change in view.EUR has been trading within a 1.1730/1.1880 range for about 2 weeks now. Despite the consolidation, the undertone has weakened somewhat and the immediate pressure is on the downside..

Forex today witnessed a brief consolidation phase in the US dollar and Treasury yields, after the overnight upsurge, leaving the main currency pairs (EUR/USD, GBP/USD and USD/JPY) better offered in tight ranges. Meanwhile, the Antipodeans extended yesterday’s sell-off..

Reuters quoted government sources familiar with the matter, noting that Japan’s government may be able to declare that the economy has made a sustained exit from deflation before it implements a scheduled sales tax hike in October 2019...

Japanese shares struggled to hold on to gains early Wednesday following their record-smashing winning streak, as markets in the region broadly edged higher after their recent strength.Equity markets in Asia have been hovering around...

Gold came under some renewed selling pressure on Tuesday and has now weakened back below $1280 level. The precious metal failed to build on its modest overnight recovery move and remained within striking distance of over two-week lows amid renewed US Dollar buying interest.

Japan’s benchmark Nikkei 225 Index NIK, +0.50% was pushing Tuesday toward a 16th consecutive rise, having posted a 0.17% gain to the 21,733.10 level. The yen, meanwhile, rebounded against the U.S. dollar USDJPY, +0.18% overnight and gained a bit in the Asian session.

The US dollar has spent the past two months forming a bullish reversal pattern, signalling a further 4% gain in the DXY index during the months ahead, according to Imre Speizer, Research Analyst at Westpac. “The background of a likely glacial wind down to the ECB’s asset purchase program along...

We expect the ECB to announce ... it will cut its monthly asset purchases from €60bn to €30bn as of January, with a commitment for nine months, i.e. until end-September 2018. We think the ECB will leave open whether it will extend QE after ...

EUR/USD: Neutral (since 14 Sep 17, 1.1890): EUR is expected to drift lower to 1.1665/70. EUR has been trading within a 1.1730/1.1880 range for about 2 weeks now. Despite the consolidation, the undertone has weakened somewhat and the immediate pressure is on the downside...