Forex News

USD/JPY gains some positive traction, though remains confined in a familiar trading range. The mixed fundamental backdrop is seen holding back traders from placing aggressive bets. A convincing break below ascending trend-line support will set the stage for deeper losses. The USD/JPY pair attracts some dip-buying near the 129.20 region on Monday and climbs to…

Commerzbank’s Chief Economist, Dr Jörg Krämer, offers a brief analysis of the Preliminary German GDP, which showed that the Eurozone’s largest economy contracted by 0.2% during the fourth quarter. This was below consensus estimates for a flat reading and the 0.4% growth recorded in the previous quarter. Key Quotes: “Contrary to guidance by the Federal…

Gold price oscillates in a narrow range and is influenced by a combination of diverging forces. Bets for smaller rate hikes by the Federal Reserve undermine the US Dollar and lend support. Looming recession risks weigh on investors’ sentiment and also contribute to limiting losses. Rising US Treasury bond yields act as a headwind ahead…

EUR/USD regains the smile after two daily pullbacks in a row. Another test of the 2023 high near 1.0930 appears likely. EUR/USD picks up upside traction and reclaims the area beyond 1.0900 the figure on Monday. Bets for further advance are seen rising while above the 2-month support line around the 1.0700 mark. Indeed, the…

The index comes under pressure and breaches 102.00 on Monday. Bouts of weakness could retest the 101.50 region near term. DXY leaves behind two consecutive daily advances and returns to the sub-102.00 region at the beginning of the week. In case sellers regain the upper hand, another test of the YTD low at 101.50 could…

Senior Economist at UOB Group Alvin Liew reviews the latest US GDP figures during the October-December period. Key Takeaways “The advance estimate of the 4Q 2022 GDP surprised on the upside with a 2.9% q/q SAAR expansion (versus Bloomberg est +2.6%), from an unchanged 3.2% in 3Q. Compared to one year ago, the US GDP…

Global Strategy Team at TD Securities (TDS) sounds optimistic and expects Australian Retail Sales to rise by 0.5% in December. The data is due for release during the Asian session on Tuesday. Key Quotes: “After the stunning rebound in November, we expect retail sales to continue its outperformance. We project sales to rise by 0.5%…