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AUD/USD, USD/CNH: PMIs suggest China’s economy is nearing stall speed
Chinese economic activity is nearing stall speed with the government’s purchasing managers indexes (PMIs) falling further in November, surprising markets to the downside for a second consecutive month.
Gold needs plenty to go right to maintain its bullish momentum
Gold is knocking on the door of record highs heading into what has recently been an extremely strong period for bullion prices. But having rallied so hard since early October, it comes across as being priced for perfection near-term.
AUD/USD threatening key level on slow progress in taming underlying inflation pressures
Headline Australian CPI undershot market expectations in October, although progress on taming underlying price pressures was disappointing, helping to boost AUD/USD.
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EUR/AUD looking heavy as support gives way
EUR/AUD has broken horizontal and uptrend support on the four hourly chart, generating a short setup with decent risk-reward.
Nasdaq 100 overcooked, USD/JPY underdone given the shift in US yields
After a near 15% rally in under a month, the high-flying Nasdaq 100 looks tired on the charts, struggling to add to gains despite a continued pullback in US bond yields. In contrast, USD/JPY gives the impression it’s only starting the process of adjusting to the more placid US yield environment.
Hang Seng, USD/CNH provide conflicting signals towards China’s economic outlook
Hong Kong’s Hang Seng and the USD/CNH are providing conflicting signals on the outlook for Chinese markets, providing a reminder for traders not to become too attached to a particular position, be it bearish or bullish.
Gold, AUD/USD: Softer US dollar and bond yields provide window for upside
A softer US dollar has helped AUD/USD and gold push towards key technical levels, suggesting the near-term price performance may determine their longer-term trajectory as we head towards 2024.
USD/JPY: Offshore drivers remain in control unless the BOJ can normalise policy
USD/JPY traders barely acknowledged the release of Japan’s October inflation report, reinforcing the view the only thing that matters for the pair right now is developments in the US economy, unless the Bank of Japan (BOJ) signals or starts to normalise monetary policy.
NZD/USD: Retail spending volumes stabilise ahead of RBNZ interest rate decision
Retail spending in New Zealand was unchanged in the September quarter after accounting for price movements, an improvement on the 1% drop reported in the prior three-month period than was a tenth larger than originally reported.
USD/JPY, AUD/USD: Chinese yuan strength a bullish signal for Asian FX names
The latest episode of US economic exceptionalism may be coming to an end, resulting in US bond yields and US dollar coming off their highs. Major Asian FX names like the Japanese yen and Chinese yuan have been taking note, strengthening further against the buck on Friday.
Gold, USD/JPY: Batter up, bond auctions. It’s your turn to steal the spotlight
In a week when there’s little market moving macroeconomic events scheduled, fresh US Treasury auctions are likely to steal the spotlight. Yield sensitive assets such as gold and USD/JPY will be paying particularly close attention.
AUD/USD, Crude Oil: Cyclicals swoon as global economic concerns intensify
While AUD/USD and WTI are two separate assets, their underwhelming performance recently is undeniably linked: global economic growth concerns are intensifying.
AUD/USD, ASX 200: Struggling for traction following latest corrective bounce
Australian employment growth continued to motor in September, keeping alive the prospect of a further interest rate hike from the Reserve Bank of Australia early in the new year.
AUD/USD, USD/CNH: Aussie dollar’s China proxy tag put to the test
AUD/USD is widely regarded as being a proxy for all things China: it’s economic performance, trends in financial markets and even the Chinese currency, the yuan.
USD/JPY, Nikkei 225: It’s no longer about inflation but the global economic outlook
The US consumer price inflation (CPI) report for October had an immediate and significant impact for markets, including USD/JPY and Nikkei 225. Attention is now likely to shift to whether we see a hard economic landing.
USD/JPY: Weakening upstream inflation bodes ill for BOJ wage acceleration
USD/JPY is trading 40 pips away from multi-decade highs as upstream inflationary pressures in Japan are coming off hard. Perhaps that explains we've had no verbal intervention attempts from the government today?
GBP/AUD: Central bank divergence put to the test as risk laden week begins
With plenty of major data and central bank speeches scheduled in the UK and Australia this week, the next few days may prove to be critical for the medium-term trajectory for GBP/AUD heading into 2024.
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AUD/USD, gold: Reversal roadblocks loom as prices near key levels
AUD/USD and gold have struggled in November, giving back some of the gains achieved in late October. With both sitting near key levels, we look at the prospects for a bounce or extension of the pullback in the days ahead.
AUD/USD, ASX 200: Don’t be so quick to call it a dovish RBA hike
Traders believe the RBA is one-and done when it comes to the restart of its tightening cycle, jumping to the conclusion the 25 basis point rate hike to 4.35% will likely be the last. AUD/USD fell while the ASX 200 rallied.
China A50, USD/CNH: Prime reversal candidates should US economic exceptionalism falter
It’s been a rough year for Chinese markets with the A50 share index and CNH down sharply as hopes for booming economic activity coming out of the pandemic failed to materialise.
AUD/USD analysis: RBA, Peak Fed Rates Narrative makes Aussie Currency Pair of the Week
The AUD/USD is our featured currency pair of the week, in what will be a quieter week for economic data compared to the previous week. Still, it could be a busy one for the Aussie given that we have a rate decision from the RBA as well as economic data from China and the US to look forward to.
Markets 4X4: What caught our eye in Asian trade
Huge day for S&P 500, sweet spot for fixed income investors, AUD/USD perking up while Japan win big with timely bond auction.
Markets 4x4: What caught our eye in Asian trade
USD/JPY intervention warnings escalate, PBOC's record push against market forces, USD King for a reason and US real yields push higher before Treasury refunding announcement. Gold is struggling in the difficult environment.