USD/JPY edges higher, trading within a range of 148.00-149.50 as US 10-year yields rise to 4.104%. Momentum favors buyers, with a break above 149.50, exposing the key 150.00 level and resistance at the 200/100-DMA confluence at 151.20/21. A drop below 149.00 could lead to a pullback toward the October 8 swing low of 147.35. The USD/JPY edged higher during…
The USDCAD has been trending to the upside since bottoming on October 2 near 1.3472. The momentum over the last eight trading days has taken the price up to a high of 1.37826. That took the price to the low of the next swing area target between 1.3784 and 1.38036 (going back to April 2024 – see the red…
AUD/USD prints gains on Friday after US Producer Price Index (PPI) data showed inflation easing. The US Core PPI rose by 0.2% MoM as expected, while annual PPI declined to 1.8%, increasing the likelihood of a Fed rate cut. Swaps markets show a 95.6% chance of a 25 bps Fed rate cut in November, up from 83.3%. The Australian…
Four of the biggest state-owned banks in China confirmed over the weekend that cuts to existing mortgage rates will start on October 25. We knew this was coming : PBOC tells banks to lower mortgage rates before October 31 The People’s Bank of China said cut ’em by no less than 30 basis points (bps) below the Loan Prime…
Gold gains 1% on Friday, set to end the week with 0.20% gains. US PPI data was slightly above expectations, suggesting inflation is down but stalling above target, while UoM Consumer Sentiment highlights concerns over rising living costs. Despite higher US Treasury yields, with the 10-year note rising to 4.081%, Bullion prices remain supported as the Fed is expected…
UPCOMING EVENTS: Monday: US and Canada Holiday, Fed’s Waller. (US stock market open/bond market closed) Tuesday: UK Labour Market report, German ZEW, Canada CPI, New Zealand Q3 CPI. Wednesday: UK CPI. Thursday: Australia Labour Market report, ECB Policy Decision, US Retail Sales, US Jobless Claims, US Industrial Production and Capacity Utilization, US NAHB Housing Market Index. Friday: Japan CPI,…
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China’s consumer inflation rate fell in September. Producer price deflation deepened. This screenshot is from the free ForexLive calendar. China keep pumping out stimulus, Saturday: China offers few details on stimulus in Saturday’s press conference Sunday brought confirmation of cuts to housing loans: Four of China’s biggest state-owned banks confirm mortgage rate cuts, beginning October 25 Meanwhile, as you…
Eurozone CFTC EUR NC Net Positions: €39.1K vs previous €55.3K
Sun: Chinese Inflation Mon: OPEC MOMR, Chinese Trade Balance (Sep), Canada market holiday Tue: SARB Announcement, IEA OMR, UK Jobs Report (Aug/Sep), Swedish CPIF (Sep), German ZEW (Oct), Canadian CPI (Sep), New Zealand CPI (Q3) Wed: Bank of Indonesia Announcement, UK Inflation (Sep) Thu: ECB Announcement, CBRT Announcement, European Council Meeting, Australian Jobs Report (Sep), EZ Final CPI (Sep),…