USD/JPY retreats after touching its highest level since August 16 amid intervention fears. Reduced bets for more BoJ rate hikes and an oversized Fed rate cut should lend support. Any meaningful corrective slide could be seen as a buying opportunity and remain limited. The USD/JPY pair struggles to capitalize on a modest Asian session uptick or find acceptance above…
Melbourne Institute Inflation in September 2024 0.1% m/m prior -0.1% 2.6% y/y, almost to the mid point of the Reserve Bank of Australia 2 – 3% target band prior 2.5% Official inflation data from Australia will be published on October 30 by the Australian Bureau of Statistics. This article was written by Eamonn Sheridan at www.forexlive.com.
AUD/USD trades in positive territory around 0.6805 in Monday’s early Asian session. The US Nonfarm Payrolls came in stronger than expectations in September. Middle East geopolitical risks might weigh on the Aussie, but a hawkish RBA could cap its downside. The AUD/USD pair recovers some lost ground to near 0.6805, snapping the two-day losing streak during the early Asian…
An early update for USD/JPY, which caught another substantial bid after the blockbuster US jobs report on Froday: I had an outlook from Standard Chartered to post, analysts there were looking for 149 … and here we are. had expected a range of 140 – 149 for the coming month For the 6 – 12 month horizon ahead Stan…
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German newspaper Sueddeutsche Zeitung reported over the weekend on a dour forecast from German’s economy ministry, planning a downgrade to its 2024 economic growth forecast. The new forecast will be for negative 0.2% growth, i.e. a shrinking economy, for 2024 prior forecast was for +0.3% 2023 recorded a 0.3% contraction For 2025, the forecast will be: +1.1% (prior forecast…
CTAs are ‘max long’ Gold and Silver, but the margin of safety against algo liquidations in Gold still remains elevated, TDS commodity analyst Daniel Ghali notes. No directional shorts remain in Gold markets “This print is the first significant challenge to the consensus narrative that has attracted enough capital for our measures of positioning to scream extreme on several fronts, but liquidations…
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Mexican Peso rises after strong US Nonfarm Payrolls data for September crushed estimates. Mexico’s data showed an uptick in unemployment, while Automobile Exports and Production increased in September. US Unemployment Rate edged lower, easing recession fears. The Federal Reserve is expected to cut rates by 25 bps in the coming meetings. The Mexican Peso appreciated against the US Dollar…
On the day: Stoxx 600 +0.7% Germany DAX +0.6% France CAC +0.9% UK FTSE 100 flat Spain Ibex +0.3% Italy FTSE MIB +1.3% On the week: Stoxx 600 -1.8% Germany DAX -2.2% France CAC -3.2% UK FTSE 100 -0.5% Spain IBEX -2.6% Italy’s FTSE MIB -2.2% The market wasn’t happy about talk of corporate tax increases in France and…
