United States API Weekly Crude Oil Stock declined to -0.817M in November 24 from previous 9.047M
The EUR/USD is easing back into the 1.0980 neighborhood after tipping into a 15-week high just above 1.1000, bolstered by a broad-market uptick in risk appetite, pushing the US Dollar (USD) down across the board and into the red against all other major currencies on Tuesday.
South Korea BOK Manufacturing BSI: 72 (December) vs 71
During the Asian session, the Australian Monthly CPI is due.
The Reserve Bank of New Zealand (RBNZ) is set to leave the Official Cash Rate (OCR) unchanged at 5.50%, following its monetary policy meeting on Wednesday.
The USD/CHF extends its downtrend for the third straight session, though bounced from daily lows reached at 0.8762.
West Texas Intermediary (WTI) Crude Oil caught a bid in a broad-market risk bid as investor sentiment improved across the board.
Silver price refreshed three-month highs shy of the $25.00 figure and retreated to the $24.80s area after dovish remarks by a Federal Reserve (Fed) official weakened the Greenback.
The US Dollar (USD) is seeing broad-market declines on Tuesday as market sentiment lurches higher.
United States 7-Year Note Auction down to 4.399% from previous 4.908%
The EUR/USD has ticked into a fresh 15-week high above the 1.1000 major handle on Tuesday, fueled by a broad-market US Dollar (USD) selloff that is sending the Euro (EUR) higher as investor risk appetite climbs heading into the mid-week.
GBP/USD rallies sharply for the fourth straight day as the Greenback tumbles following dovish remarks by US Federal Reserve officials, suggesting a deceleration in inflation would warrant lower rates.
The AUD/USD has kicked into a 16-week high twice on Tuesday, climbing into 0.6632 early in the session despite a downside print in Australian Retail Sales.
United States 52-Week Bill Auction dipped from previous 5.135% to 4.935%
ECB President Lagarde participated through a pre-recorded video at the European Financial Reporting Advisory Group Conference, in Brussels, and mentioned quantitative tightening (QT).
The Canadian Dollar is seeing some lift on Tuesday as Crude Oil rebounds from early week swing low.
The New Zealand Dollar (NZD) trades higher in most pairs on Tuesday ahead of the Reserve Bank of New Zealand (RBNZ) meeting.
Federal Reserve (Fed) Governor Michelle Bowman said on Tuesday that she remains willing to support raising interest rates “should the incoming data indicate that progress on inflation has stalled or is insufficient to bring inflation down to 2 percent in a timely way.” In a speech delivered at the Utah Bankers Association and Salt Lake City Chamber Banker and Business Leader Breakfast, Bowman explained that is is possible that the fed funds rate will need to be at a higher level than before the COVID-19
The Brazilian Real was up a smidgen last week. Economists at analyze USD/BRL outlook.
Mexican Peso (MXN) prints slim losses against the US Dollar (USD), with the USD/MXN virtually unchanged, up by a marginal 0.01%, after hitting a daily high of 17.21.Market participants are digesting recent comments from US Federal Reserve (Fed) officials, Christopher Waller and Chicago Fed President Austan Goolsbee.
Federal Reserve Governor Christopher Waller said on Tuesday that if inflation consistently declines, there is no reason to insist that interest rates need to remain really high.
Economists at ING analyze NZD/USD outlook ahead of the Reserve Bank of New Zealand (RBNZ) monetary policy announcement.
Federal Reserve Governor Christopher Waller said on Tuesday that he is confident that monetary policy is positioned to slow the economy and get inflation back to 2%.
The S&P 500 registered its fourth consecutive weekly gain, leaving the index up almost 19% year-to-date and less than 1% from its 2023 high.
Consumer sentiment in the US continued to weaken in November, with the Conference Board's Consumer Confidence Index rising to 102.0 in November from 99.1 in October (revised from 102.6).
Gold price is back above $2,000, but why? Strategists at Commerzbank analyze the yellow metal’s outlook.
United States Richmond Fed Manufacturing Index below expectations (1) in November: Actual (-5)
Loonie is a moderate outperformer on the session. Economists at Scotiabank analyze the USD/CAD pair outlook.
- EUR/USD accelerates its march north and surpasses 1.0980.
Gold price climbs to a six-month high, more than 0.50% on Tuesday, early in the North American session, as the Greenback remains on the defensive, undermined by falling US Treasury bond yields.
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reported a 3.9% annual change in September, up from a 2.5% change in the previous month, S&P reported.
GBP/USD gains are blocked in the mid-1.26s. Economists at Scotiabank analyze the pair’s outlook.
United States S&P/Case-Shiller Home Price Indices (YoY) came in at 3.9%, below expectations (4%) in September
United States Housing Price Index (MoM) came in at 0.6%, above forecasts (0.4%) in September
The Australian Bureau of Statistics (ABS) will release the Monthly Consumer Price Index (CPI) figures on Wednesday, November 29 at 00:30 GMT and as we get closer to the release time, here are forecasts from economists and researchers of five major banks regarding the upcoming inflation data.
United States Redbook Index (YoY): 6.3% (November 24) vs 3.4%
The USD is narrowly mixed against the major currencies in calm trade. Economists at Scotiabank analyze Greenback’s outlook.
EUR/USD consolidates after a retest of last week’s 1.0965 high.
Economists at Commerzbank analyze Kiwi’s outlook ahead of the Reserve Bank of New Zealand (RBNZ) monetary policy meeting.
The Mexican Peso has rallied 5.9% vs. the US Dollar this month.
- DXY keeps the negative performance in the low-103.00s. - Next on the downside emerges the weekly low of 102.93.
The US Dollar (USD) is trying to put up a fight this Tuesday as the downtrend is coming to a halt for now. Best way to look at it is via the US Dollar Index (DXY) which is seeing a little
On Monday, AUD/USD finished the session over 0.66. Economists at Commerzbank analyze Aussie’s outlook.
EUR/JPY corrects further down and drops to four-day lows around 162.20 on Tuesday.
Brazil Mid-month Inflation increased to 0.33% in November from previous 0.21%
EUR/CHF shuffled sideways most of last week after scaling a new November high of 0.9685.
The Reserve Bank of New Zealand (RBNZ) will announce its Interest Rate Decision on Wednesday, November 29 at 01:00 GMT and as we get closer to the release time, here are the expectations as forecast by the economists and researchers of five major banks.
AUD/USD closed above 0.66. Economists at Société Générale analyze the pair’s outlook.
Ireland Retail Sales (YoY): -0.2% (October) vs previous 2.5%
Ireland Retail Sales (MoM): -0.4% (October) vs -1.2%
Considering advanced prints from CME Group for natural gas futures markets, open interest resumed the decline and shrank by around 17.7K contracts on Monday.
EUR/USD should remain almost solely a function of USD moves and Fed rate expectations, economists at ING report.
Oil prices are off the lows this Tuesday and are putting this week’s performance in the green despite some more bearish undertone in recent headlines. The Gaza ceasefire has been prolonged by two
Open interest in crude oil futures markets increased for the fourth straight session at the beginning of the week, now by around 4.5K contracts.
CME Group’s flash data for gold futures markets noted traders reduced their open interest positions for the third consecutive session on Monday, this time by around 2.3K contracts.
GBP/USD captures 1.26. Economists at Société Générale analyze the pair’s technical outlook.
United Kingdom 30-y Bond Auction dipped from previous 4.926% to 4.664%
AUD/NZD has diverged from yield spreads this month. Economists at MUFG Bank analyze the pair’s outlook.
Eurozone M3 Money Supply (3m) fell from previous -1% to -1.2% in October
The Dollar has stayed under pressure at the start of this week.
EUR/USD stalls at 1.0960 hurdle. Economists at Société Générale analyze the pair’s outlook.
Eurozone Private Loans (YoY) below expectations (0.7%) in October: Actual (0.6%)
Eurozone M3 Money Supply (YoY) came in at -1% below forecasts (-0.9%) in October
Austria Purchasing Manager Index increased to 42.2 in November from previous 41.7
EUR/GBP declined during Monday's session. Economists at ING analyze the pair’s outlook.
The Euro has so far abandoned its march north against the US Dollar, motivating EUR/USD to leave behind the area of recent peaks around 1.0960 on Tuesday.
Silver (XAG/USD) enters a bullish consolidation phase and oscillates in a narrow trading band just above mid-$24.00s through the first half of the European session on Tuesday.
NZD/USD is treading water ahead of the Reserve Bank of New Zealand (RBNZ) Monetary Policy Statement.
European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel said on Tuesday, “rate hikes are not necessarily over.
Western Texas Intermediate (WTI) price struggles to snap its losing streak that began on Wednesday, hovering above $75.00 per barrel during the European session on Tuesday.
EUR/USD consolidated within the mid 1.09-1.10 range. Antje Praefcke, FX Analyst at Commerzbank, analyzes the pair’s outlook.
France Consumer Confidence came in at 87, above forecasts (85) in November
FX option expiries for Nov 28 NY cut at 10:00 Eastern Time, via DTCC, can be found below.
NZD/USD recovers its recent losses registered in the previous session.
Economists at Commerzbank see the Polish Zloty (PLN) depreciating gradually over 2024-25.
Here is what you need to know on Tuesday, November 28: Another day of mixed trading was seen in Asia on Tuesday, as traders took the lead from the negative close on Wall Street and bore the brunt of renewed China concerns.
GBP/USD continues its winning streak that began on Thursday, trading higher around 1.2630 during the Asian session on Tuesday.
Denmark Retail Sales (YoY): 3.7% (October) vs 1.3%
Germany Gfk Consumer Confidence Survey registered at -27.8 above expectations (-27.9) in December
The greenback alternates gains with losses near the 103.00 neighbourhood when gauged by the USD Index (DXY) on turnaround Tuesday.
The EUR/USD pair snaps the three-day winning streak during the early European session on Tuesday.
USD/CHF trades above the 0.8800 psychological level during the Asian session on Tuesday, rebounding from the three-month low at 0.8793.
Pan Gongsheng, Governor of the People's Bank of China (PBOC), said in a statement on Wednesday, the Chinese central bank “will continue to keep monetary policy accommodative.” Additional quotes China's economy continues to gain momentum.
Gold prices rose in India on Tuesday, according to data from India's Multi Commodity Exchange (MCX).
Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $75.05 so far on Tuesday.
Asian stocks showed a mixed picture on Tuesday as traders adopted a cautious stance ahead of crucial economic readings from the United States (US) and China scheduled later in the week.
Gold price (XAU/USD) pushed through the $2,008-2,010 horizontal barrier and advanced to the $2,018 region on Monday, or its highest level since mid-May.
China's Premier Li Qiang said on Tuesday that Beijing “opposes any form of decoupling and cutting off of supply chains.” Additional quotes “China is willing to build closer supply chain linkages with all countries.” “China will continue to create an international and rule of law-based business environment.” .
Indian Rupee (INR) loses ground on Tuesday amid the US Dollar (USD) demand from state-run and foreign banks.
USD/CAD extends its losses for the third consecutive session, trading lower around 1.3600 psychological level during the Asian session on Tuesday.
GBP/USD reached its highest level since early September, touching the 1.2644 level on Monday.
The EUR/USD pair trades with a positive bias for the fourth straight day and climbs to its highest level since August 11 during the Asian session on Tuesday.
Bank of England (BoE) Deputy Governor for Markets and Banking, Dave Ramsden, participated in a panel discussion titled "Inflation, Financial Stability and Employment" at the Hong Kong Monetary Authority and Bank for International Settlements High-Level Conference, in Hong Kong, on Tuesday.
Reserve Bank of Australia (RBA) Governor Michele Bullock participated in a panel discussion titled "Inflation, Financial Stability and Employment" at the Hong Kong Monetary Authority and Bank for International Settlements High-Level Conference, in Hong Kong, on Tuesday.
The Japanese Yen (JPY) strengthens against the US Dollar (USD) for the third successive day on Tuesday and is supported by the increasing likelihood of a policy shift by the Bank of Japan (BoJ).
The NZD/USD pair holds above the 0.6100 psychological mark during the early Asian session on Tuesday.
The Australian Dollar (AUD) continues the winning streak for the fourth successive session despite downbeat seasonally adjusted Retail Sales data from Australia on Tuesday.
The People’s Bank of China (PBoC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1132 as compared to the previous day's fix of 7.1159 and 7.1432 Reuters estimates.
Australia’s Retail Sales, a measure of the country’s consumer spending, dropped by 0.2% MoM in October from the previous reading of a 0.9% rise, according to the official data published by the Australian Bureau of Statistics (ABS) on Tuesday.
Australia Retail Sales s.a. (MoM) registered at -0.2%, below expectations (0.1%) in October
The USD/JPY pair trades in negative territory for the third consecutive day during the early Asian session on Tuesday.
United Kingdom BRC Shop Price Index (YoY) down to 4.3% in October from previous 5.2%
According to Société Générale, market expectations of rate cuts beginning in the first half of 2024 could be overblown, as core inflation measures within the broader European economy come home to roost with marginally higher inflation that will keep rate cuts from the European Central Bank (ECB) at bay.
Gold price (XAU/USD) extends the rally above the $2,000 key level during the early Asian trading hours on Tuesday.
NZD/USD extended its gains to three straight trading days, hitting a three-and-a-half-month high of 0.6107 on Monday.
The AUD/NZD is up for the week after climbing a scant one-tenth of a percent on Monday, but bullish momentum remains constrained on the hourly chart by the 200-hour Simple Moving Average (SMA) and a lower-highs pattern on the intraday charts from last week's peak at 1.0887.
The AUD/USD pair extends the rally above the 0.6600 psychological level during the early Asian session on Tuesday.
The US Crude Oil benchmark, also known as Western Texas Intermediate (WTI), dropped 0.20% on Monday due to a delay of the Organization of Petroleum Exporting Countries and its allies (OPEC+) reunion, as members disagreed on production targets.
The EUR/GBP saw another downside push on Monday, testing below 0.8660 before seeing a moderate rebound that sees the Euro (EUR) struggling to recover 0.8680 against the Pound Sterling (GBP).
In Monday's trading session, the EUR/USD pair is staging a climb, confidently edging northwards and flirting with multi-month highs near the 1.0960 area.