Forex News

Analysts at Credit Suisse discuss EUR/GBP outlook. Sonia futures already price GBP as being a stand-out G10 high yielder by December With spot now through our original, long-held EUR/GBP target at 0.8700, we now look for the pair to trade towards 0.8550. Sonia futures already price GBP as being a stand-out G10 high yielder by…

Economists at Scotiabank analyze USD/CAD technical outlook. Another rejection of the 1.3650/60 area tilts near-term risks lower for USD/CAD Another rejection of the 1.3650/60 area and a low close for the USD yesterday tilts near-term risks lower for USD/CAD.  After two failures at 1.3650 this week, more obvious USD weakness below the 1.3570 point (minor…

Economists at Rabobank discuss USD/JPY outlook. USD to remain firm this year Given the risks that the US could be in recession by year-end, that the Eurozone could be stagnating in H2 and in view of the disappointing pace of China’s recovery, the window of opportunity for a policy change by the BoJ is likely…

EUR/USD quickly reverses the post-ADP knee-jerk. US ADP report surprised to the upside in May. ISM Manufacturing takes centre stage later in the session. The broad-based upbeat mood in the risk complex motivates EUR/USD to reclaim the area above the 1.0700 barrier on Thursday. EUR/USD appears supported near 1.0630 EUR/USD manages to reverse a sharp…

Oil price recovers marginally after the House of Representatives votes through the debt-ceiling extension bill on Wednesday evening.  Gains are capped by higher-than-expected inventory levels from the API, suggesting ample supply.  Several Fed officials signal a “pause” may be appropriate at June meeting, though peak rate may be higher. Oil price trades flat in the…

USD/JPY attracts fresh sellers following an early uptick amid a modest USD weakness. Diminishing odds for another 25 bps Fed rate hike in June continue to weigh on the buck. The upbeat US ADP report fails to impress the USD bulls or lend support to the major. The USD/JPY pair struggles to capitalize on its…

US Q1 Unit Labor Costs are revised sharply lower from 6.3% to 4.2%.  US Dollar pulls back after the data, offsetting the ADP impact.  Nonfarm business sector labor productivity decreased 2.1% in the first quarter of 2023. Labor productivity was revised up 0.6%, the combined effect of a 0.3-percentage point upward revision to output and…