News and analysis

If Japan’s Ministry of Finance (MOF) was looking for a trigger to instruct the Bank of Japan (BOJ) to intervene in currency markets, they were just provided a big one. Expect heightened near-term volatility in USD/JPY on Monday.

Momentum turned higher for the US dollar on Friday and the US 2-year is reconsidering a break above 2%, which could see them close the gap with the CRM commodities index - which have led both markets higher this year.

AUD/USD notched up a 5-day rally against the US dollar despite the hotter PCE inflation report for the US on Friday. Yet resistance levels nearby suggest it may be due a pullback.

Crude oil investors eye clues about demand outlook ahead of busy week, as OPEC+ cuts and reduced fears about Eurozone economy keep oil prices supported. WTI technical analysis suggests trend is still bullish.

It was a come back type of week for stocks, even with another hot inflation report. But next week brings the Fed and markets are still holding on to hopes for 2024 rate cuts.

EUR/USD may have seen its bounce off 1.0600 support stall at 1.0740 – see the levels to watch moving forward!

Earnings drove volatility last week and continue to roll in this week. Attention will be on Amazon, Apple and HSBC. Here we look at what to expect.

US stocks are set to open higher after impressive numbers from Alphabet and Microsoft. Meanwhile, US core PCE, the Fed's preferred gauge for inflation, was hotter than expected at 2.8% YoY, which is in line with February. Personal spending was stronger than expected. The data supports the view that the Fed is in no rush to cut rates. The central bank meets next week.

Welcome to another edition of Forex Friday, a weekly report in which we highlight selected currency themes. In this week’s report, we will discuss the Japanese yen, US dollar and look ahead to the next week.