What started off as a calm week has turned into a rout. The euro is down 0.83% in the North American session and has fallen into 1.11 territory for the first time since June 2020. The currency has taken a nasty spill this week, falling a massive 1.73%.
The markets are still buzzing over the hawkish Fed meeting, which has overshadowed today's stellar US GDP...
The pound has been range-bound against the Canadian dollar for the last week and that remains the case so far today, despite the Bank of Canada holding off on raising interest rates.
It had been expected to start the tightening cycle today, with the market's pricing in up to five more over the course of the year after inflation hit a 30-year high and the labour...
It's been a wild ride so far this year and there may still be plenty more to come.
The NAS100 has smashed through key support levels on an almost weekly basis and now sits around 15% off its highs, thanks to a remarkable rebound on Monday.
The index has trended lower once more today but remains above yesterday's lows which could be a promising signal....
It's been an awful couple of months for bitcoin, plunging more than 50% from its highs and looking extremely vulnerable to further losses.
What started as a correction in the cryptocurrency has morphed into part of a broader sell-off that's pummelled bitcoin along with other risk assets. The concerning thing for bitcoin is that there is still plenty of anxiety in...
The Canadian dollar continues to tread in choppy waters, as it trades slightly above the symbolic 1.25 line.
The week will wrap up with Canada releasing retail sales, the primary gauge of consumer spending. For November, the headline reading is expected to slow to 1.2% y/y (1.6% prior) and core retail sales are forecast to remain unchanged at 1.2%.
Canadian...
The Japanese yen has edged higher for a second straight day. In the North American session, USD/JPY is trading at the 114.00 line.
In economic news, Japan releases December inflation data and the BoJ will publish the minutes of its December meeting. In the US, economic releases were mixed. Unemployment claims jumped to 287 thousand, above the forecast of 220...
The Australian dollar has reversed directions and pushed above the 72 line. In the North American session, AUD/USD is trading at 0.7224, up 0.54% on the day.
Australia will release December employment numbers in Thursday's Asian session. The economy is expected to have created 43 thousand new jobs, which would be a modest gain compared to the monster spike of 366...
The US dollar has posted small gains, as USD/JPY briefly punched above the 115 line in the Asian session. The yen looked golden last week with gains of 1.15%, but has given up half of those gains so far this week.
The Bank of Japan's policy meetings are generally uneventful affairs, with the bank reaffirming its monetary policy. The bank did maintain policy,...
The US dollar has edged higher at the start of the week. In the European session, USD/JPY is trading at 114.56, up 0.36% on the day. The yen is coming off its best week since November 2020, with USD/JPY falling by 1.15% last week.
US Treasury yields have taken the yen on a roller-coaster ride. Earlier this month, USD/JPY punched above the 1.16 line, as 10-year US...
The British pound has posted very slight gains on Friday. In the European session, GBP/USD is trading at 1.3720, up 0.09% on the day.
The pound is yawning despite better than expected UK data today. GDP jumped 0.9% m/m in November, above the consensus of 0.4%, while Manufacturing Production rose 1.1% m/m, crushing the estimate of 0.2%. Both readings were above...
The Japanese yen has extended its gains as USD/JPY trades at a 3-week low. In the North American session, USD/JPY is trading at 114.25, down 0.35% on the day. Will the yen break into 113-territory before the end of the week?
The Japanese yen has jumped onto the currency bandwagon this week, taking advantage of a US dollar in retreat. USD/JPY has dropped 1.11%...
The UK100 has been going from strength to strength in recent weeks, relatively undeterred by the wobble in broader stock markets over the last week or so as it eyes January 2020 highs above.
It's already back in pre-pandemic territory and the momentum indicators on both the daily and 4-hour charts continue to look healthy. That may suggest resistance around 7,560...
It's been a shaky start to the new year, with interest rate anxieties dragging on sentiment and hitting the NAS100 particularly hard.
The index fell more than 8% over the last week, breaking through key support in the process which could have led to a much deeper correction. Instead, the index bounced strongly in the final hours of trading on Monday and failed to...
The Australian dollar is trading quietly at the start of the week. In the North American session, AUD/USD is trading at 0.7172, down 0.14% on the day.
December job numbers in the US were mixed. The nonfarm payrolls report was a major disappointment, with a gain of 199 thousand, compared to a forecast of 425 thousand. Despite the soft nonfarm payrolls reports,...
The Canadian dollar is on a holding pattern ahead of key Canadian and US employment reports later today. Currently, USD/CAD is trading just above the 1.27 line.
It could be an active North American session for the Canadian dollar, with the release of Canada's job creation numbers and the US nonfarm payrolls. Expectations are low for the Canadian data, with a...
The Japanese yen has edged higher and is back below the 116 level. Still, the yen remains vulnerable, especially with US treasury yields moving higher. Earlier in the week, USD/JPY broke above116 line for the first time since January 2017.
The dollar has managed to push the yen to 5-year lows on the back of rising US Treasury yields. The 10-year yield, which...
The euro started the New Year with sharp losses, but the currency has rebounded on Wednesday, posting gains of 0.44% and punching above the 1.13 level.
Germany's service sector showed contraction in December, falling below the 50-level for the first time in eight months. The PMI fell from 52.7 to 48.7 points. The German recovery stalled in December, as the...
The Canadian dollar continues to show strong movement early in the New Year. USD/CAD is currently trading at 1.2674, down 0.56% on the day.
The first tier-1 events in 2022 out of the US disappointed, missing their estimates. The ISM Manufacturing PMI for December slowed to 58.7, missing the consensus of 60.0 and below the November reading of 61.1 points. The PMI...
