FX

Gold is showing signs that its correction from its 13-month high may be nearing completion, and we also look at USD/CAD as it may have printed a swing high on the daily chart.

Currencies saw tight ranges overnight, but we see the potential for EUR/USD to have another crack at 1.0700 whilst prices remains below 1.0800.

EUR/USD is trading within a tight range ahead of today’s ZEW report, which suggests we could be facing a breakout of it (one way or another).

It has been a quiet session overnight, as traders wait to see how Europe reacts to the weekend’s headlines.

The SNB (Swiss National Bank) has swept in to provide much needed liquidity to Credit Suisse, which should soothe some concerns over risk to the financial system.

With volatility and headline risk remaining high, we take a look at some of the key drivers and how to approach the currency market under such conditions.

When bond markets move, investors in other markets always take notice

After a combined 425 basis points worth of hikes, the BOC has already signaled it would pause tightening to let the economy digest impact of previous hikes.

US economic data has outperformed expectations at an increasing rate, according to the City Economic Surprise Index (CESI)

The RBA hiked the overnight cash rate by 25bp to 3.35% - its highest level since September 2012 – and warned of further increases in the months ahead.

That surprise 500-thousand-plus job gains we saw on Friday means the market may gravitate towards “higher for longer” narrative

The US dollar was dominant on Friday following a surging NFP number, which saw GBP/USD suffer its worst week since Truss’s disastrous budget in September.

The National Bureau of Statistics China (NBS) released PMI data this week which shows both the manufacturing and services sector are expanding.

The Big Mac Index is a common measure of exchange rates, but can it be used to make trading decisions? Find out what the Big Mac Index is and how it works.