Share: Mexican Peso’s advance against the US Dollar halts, with USD/MXN bouncing from recent lows despite broad-based USD weakness. Banxico officials hint at a less restrictive monetary policy yet suggest gradual rate cuts. Upbeat US economic data and Federal Reserve officials’ resistance to early rate cuts propelled the USD/MXN up move. Mexican Peso
Share: The continuation of the upside momentum could lift EUR/USD to the 1.0945 level in the near term, comment Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quotes 24-hour view: We noted yesterday that “the current price action is likely part of a consolidation phase,” and we expected
Share: USD/JPY remains on the defensive for the second straight day amid a bearish USD. Bets that the Fed is done with its rate-hiking cycle continues to weigh on the buck. The BoJ’s dovish stance could undermine the JPY and help limit any further losses. The USD/JPY pair edges lower for the second
Share: USD/JPY meets with some supply on Thursday and reverses a part of the overnight strong move up. Intervention fears, along with the cautious mood, underpin the JPY and exert pressure on the major. The Fed-BoJ policy divergence should continue to act as a tailwind for the pair and help limit losses. The
Share: The DXY index first declined to 104.00 and then recovered to 104.40. The headline and core PPI cooled down in October, while US Retail Sales declined but were lower than expected. Investors seem to worry that strong economic activity data might weigh more than cooling inflation in the Fed’s eyes. The US
Share: The NZD/USD has bounded back into the top end after broader markets went risk-on. Tuesday saw safe havens go broadly lower as investors stepped out post-US CPI. Up Next: US PPI, Retail Sales slated for Wednesday. The NZD/USD has ripped higher after gaining almost 2.6% from Tuesday’s lows. The Kiwi (NZD) saw its
Share: GBP/JPY uptrend appears to be overextended, with the next major target set at the 190.00 psychological level, a peak not seen since September 2008. A successful breach of 190.00 could open the path towards the September 2008 high of 198.34, potentially even the 200.00 mark. On the downside, initial support is today’s
Share: The GBP/USD is seeing some minor lift ahead of Tuesday’s bumper data reading. An easy Monday to give way to a bumper economic calendar data docket. UK wages & labor, US CPI in the barrel. The GBP/USD climbed to a Monday high near 1.2280 as markets jockey for position ahead of Tuesday’s bumper
Share: GBP/USD continues its downward trend, dropping 0.16% despite the UK GDP narrowly avoiding a contraction in Q3. The Bank of England’s cautious stance mirrors the Fed’s, as both central banks adopt a meeting-by-meeting approach to monetary policy. Upcoming economic releases from the UK and US, including jobs, inflation, and retail data, are
Share: The key report for the week will be on Tuesday with the US Consumer Price Index. Additionally, more US inflation data is scheduled for Wednesday with the Producer Price Index. The Eurozone will report GDP growth, and the UK will release employment and inflation data. Australia will also release jobs data. The
