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April 07, 2025

Asia Summary and Highlights 7 April
Freemium Article

07 April 2025 - 04:35

Another Plunge for Risk Asset

FX Weekly Strategy: Europe, April 7th-11th
Paying Article

07 April 2025 - 04:11

Focus on equities and tariffs rather than data
Hard to oppose equity weakness
FX moves to be mainly determined by risk characteristics
JPY remains the safest haven
AUD and NOK will struggle if equities continue to weaken

Chart USD/CNH Update: Choppy trade back above 7.3000 level
Paying Article

07 April 2025 - 03:37

Volatile trade see prices extending rebound from the 7.2390 low of Friday

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From Neutral to Accommodative? RBI Gears Up for Fresh Easing
Paying Article

07 April 2025 - 03:31

The Reserve Bank of India (RBI) is scheduled to announce its monetary policy decision on April 9, 2025, following a three-day meeting of its MPC. We anticipate a reduction of 25 basis points in the benchmark repo rate, bringing it down from 6.25% to 6%. This prospective cut would constitute the seco

Chart USD/THB Update: Extending gains, focus return to 34.84 high
Paying Article

07 April 2025 - 03:21

Extending Friday's break of the 34.32 resistance and follow-through above the 34.50 congestion see scope to the 34.68/34.70 area

AUD/USD flows: Off Session Low, but Still Deep in the Red
Paying Article

07 April 2025 - 03:09

Major equity indexes are off session low

Chart USD/KRW Update: Rebound return focus to 1477.00, YTD high
Paying Article

07 April 2025 - 03:02

 Extending rebound from the Friday's 1430.00 low to retrace losses from the 1477.00, January YTD high

Chart USD/SGD Update: Turned back to retest 1.3500/20 resistance
Paying Article

07 April 2025 - 02:43

Rebound from above the 1.3300/1.3280 support see prices back to retest the 1.3500 level

Chart GBP/USD Update: Extending corrective pullback from 1.3207 high
Paying Article

07 April 2025 - 02:22

Extending pullback from the 1.3207 fresh year high as prices unwind the overbought daily studies

Chart EUR/USD Update: Room to extend corrective pullback from the 1.1145 high
Paying Article

07 April 2025 - 02:02

Lower at the opening as prices extend pullback from the 1.1145 fresh year high to reach 1.0878 intraday low

Chart EUR/JPY Update: Turned up from the 159.00/158.00 support
Paying Article

07 April 2025 - 01:27

Volatile start to the week see prices reaching 158.15 low before staging rebound to the 160.00 congestion

Chart USD/JPY Update: Consolidating at 145.00/144.55 support
Paying Article

07 April 2025 - 01:09

 Lower at the opening to retest the 145.00 level but prices remains above the 144.55 low

Chart NZD/USD Update: Consolidating test of .5515/.5512 support
Paying Article

07 April 2025 - 00:52

Weak start see prices extending sharp losses last week to reach towards the critical .5515/.5512, February YTD and 2022 year lows

USD/JPY flows: Catastrophic start
Paying Article

07 April 2025 - 00:49

A catastrophic start for the week
Labor cash earning 3.1% y/y February

Chart AUD/USD Update: Under pressure
Paying Article

07 April 2025 - 00:25

Weak opening see prices extending sharp losses from the .6330/.6400 resistance last week

Asia Open - Overnight Highlights
Paying Article

07 April 2025 - 00:00

EMERGING ASIA
EM currencies perform individually against the USD on Friday as the uncertainty from Trump's tariff persists. The biggest winner is PHP by 0.48%, followed by INR 0.24%, THB 0.17%, MYR 0.12% and HKD 0.05%; while the largest loser is SGD 0.99%, followed by KRW 0.75% and CNH 0.2%.
USD/CNH i

April 06, 2025

FX Weekly Strategy: Asia, April 7th-11th
Paying Article

06 April 2025 - 21:00

Focus on equities and tariffs rather than data
Hard to oppose equity weakness
FX moves to be mainly determined by risk characteristics
JPY remains the safest haven
AUD and NOK will struggle if equities continue to weaken

FX Weekly Strategy: April 7th-11th
Paying Article

06 April 2025 - 17:00

Focus on equities and tariffs rather than data
Hard to oppose equity weakness
FX moves to be mainly determined by risk characteristics
JPY remains the safest haven
AUD and NOK will struggle if equities continue to weaken

April 04, 2025

North American Summary and Highlights 4 April
Freemium Article

04 April 2025 - 19:35

Overview - It was another day of plunging equities, though in contrast to Thursday, the USD was stronger. 

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Argentina: Reserves Depleting, New Devaluation?
Paying Article

04 April 2025 - 18:28

Argentina's foreign reserves have recently fallen to USD 26 billion, the lowest since February 2024, largely due to Central Bank bond payments and difficulties acquiring USD. While internal demand recovers, imports are outpacing exports, complicating reserve accumulation. Additionally, maturing Cent

Chart USD/CAD Update: Consolidating sharp losses - studies under pressure
Freemium Article

04 April 2025 - 17:07

Consolidation following the fall to the 1.4025 fresh 2025 year low of 3 April is giving way to a corrective bounce

Preview: Due April 17 - U.S. March Housing Starts and Permits - Flat trend, weather still supportive
Paying Article

04 April 2025 - 16:59

We expect March housing starts to fall by 2.1% to 1470k, though this would leave them closer to February’s 1501k than January’s 1350k. It would also unusually remain above permits, which we expect to almost unchanged, up 0.1% to 1460k. 

U.S. Fed's Powell - Waiting for greater clarity, but clearly concerned
Paying Article

04 April 2025 - 15:45

Fed's Powell shows concern about the inflationary impact of tariffs, which will imply a cautious approach to easing.

FX Weekly Strategy: April 7th-11th
Paying Article

04 April 2025 - 15:41

Focus on equities and tariffs rather than data
Hard to oppose equity weakness
FX moves to be mainly determined by risk characteristics
JPY remains the safest haven
AUD and NOK will struggle if equities continue to weaken

Chart AUD/USD Update: Fresh 5-year low in sharp selling pressure
Paying Article

04 April 2025 - 14:00

Volatile gains failed to extend, with prices meeting strong selling interest just below critical resistance at 0.6400~

Chart EUR/JPY Update: Drifting lower
Paying Article

04 April 2025 - 13:47

Choppy trade is giving way to a drift lower

Chart USD/JPY Update: Fresh year low - studies under pressure
Paying Article

04 April 2025 - 13:31

Anticipated losses have broken below 145.00 to post a fresh year low around 144.55

USD flows: Mild recovery on employment report, but risks remain
Paying Article

04 April 2025 - 13:23

US emloyment report modestly stronger than expected, but of limited significance

Canada March Employment - Consistent message of weakness
Paying Article

04 April 2025 - 13:22

Canada’s March employment with a 32.6k decline is the steepest fall since a brief plunge in the lockdowns of January 2012 and highlights the recessionary risks posed by US tariffs. Unemployment rose to 6.7% from 6.6% while wage growth slowed significantly, to 3.5% from 4.0%.

Chart USD Index DXY Update: Consolidating sharp losses - studies under pressure
Paying Article

04 April 2025 - 13:10

Sharp losses have posted a fresh 2025 year low around 101.25

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U.S. March Employment - A healthy picture, but can it persist?
Paying Article

04 April 2025 - 13:01

March’s non-farm payroll with a 228k increase is significantly higher than expected but less so net of 48k in downward revisions. The month looks like a bounce from two months restrained by bad weather, and shows a still strong labor market, though unemployment edged up to 4.2% from 4.1% and avera

Chart EUR/PLN Update: Smart bounce
Paying Article

04 April 2025 - 11:30

Cautious trade around 4.1800 has given way to sharp gains

USD, JPY flows: JPY surges again on China retaliation
Paying Article

04 April 2025 - 11:24

China has announced retaliatory tariffs of 34% triggering general sharp losses in equities and a shift out of riskier currencies to the JPY and CHF

Chart USD/ZAR Update: Edging higher in choppy trade
Paying Article

04 April 2025 - 11:10

Choppy trade above congestion support at 18.7250 is giving way to a test higher

Chart EUR/CAD Update: Volatility giving way to consolidation - studies rising
Paying Article

04 April 2025 - 10:43

The spike to 1.5725 has been pushed back

Psychology for major markets April 4th
Paying Article

04 April 2025 - 10:25

USD making recovery but underlying tone equity and USD negative

Europe Summary and Highlights 4 April
Paying Article

04 April 2025 - 10:13

The USD managed a general recovery through the European morning, gaining strongly across the board.

This week's five highlights
Freemium Article

04 April 2025 - 10:00

Tariff Man In the Spotlight But Inflation may be the biggest worry for the U.S.
The Potential EZ/EU Response for U.S. Tariffs
Fed Speakers' Views
U.S. March Non-Farm Payroll Stronger than January and February
RBA Kept Rates Unchanged

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Russia GDP Growth Loses Steam in the First Two Months of 2025
Paying Article

04 April 2025 - 09:14

Bottom Line: According to the figures announced by the Ministry of Economic Development on April 3, Russia's GDP expanded by 0.8% YoY in February following a 3% YoY increase in January driven by military spending, higher wages and fiscal stimulus. The softening of growth figures demonstrates monet

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UK GDP Preview (Apr 11): Resilience in Spite of Soft(er) Surveys
Paying Article

04 April 2025 - 09:13

UK GDP Preview: Resilience in Spite of Soft(er) Surveys
Despite a fresh downside surprise for January numbers, the odds are increasing that current quarter GDP will be decidedly positive as opposed to the weak(ish) picture we perceive.  This is all the more likely given the 0.1% m/m ‘recovery’ w

FX Daily Strategy: N America, April 4th
Paying Article

04 April 2025 - 09:09

ISM services survey could provide more negative news on the US economy
Trade data also likely to emphasise weakness in Q1 GDP
USD can weaken even in a risk negative environment
CHF CPI unlikely to have much impact, but CHF/JPY vulnerable

Chart EUR/CHF Update: Under pressure
Paying Article

04 April 2025 - 08:33

Steady losses have reached congestion support around 0.9400 in both EUR- and CHF-driven trade

Chart USD/CHF Update: Extending January losses in CHF-driven trade
Paying Article

04 April 2025 - 08:18

Sharp losses are extending in CHF-driven trade

Chart EUR/GBP Update: More positive above 0.8473/75
Paying Article

04 April 2025 - 07:59

Anticipated gains have reached resistance within congestion around 0.8450 and 0.8473/75

Chart EUR/USD Update: Room for a minor pullback
Paying Article

04 April 2025 - 07:45

Consolidation beneath the 1.1145 fresh year high of 3 April is expected to give way to a pullback

Chart GBP/JPY Update: Extending losses, 190.00 level at risk
Paying Article

04 April 2025 - 07:38

Break of the 192.00 support see prices extending rejection from the 195.75/196.00 resistance to open up room to the 190.00 congestion

Chart GBP/USD Update: Turning away from 1.3200 in profit-taking
Freemium Article

04 April 2025 - 07:31

The break above resistance at congestion around 1.3100 and the 1.3120 Fibonacci retracement has met anticipated selling interest at 1.3200

Chart AUD/JPY Update: Focus on the 90.12, August low
Paying Article

04 April 2025 - 07:22

Extending the break of the 93.00 level and sharp losses through the March low at the 92.00 congestion return focus to the 90.12, August low

Chart EUR/AUD Update: Sharp rally to 1.7800 figure
Paying Article

04 April 2025 - 07:06

Sharply higher to reach 1.7800 figure as prices extend break of the 1.7418, March high

SEK flows: SEK slips on weaker CPI
Paying Article

04 April 2025 - 06:53

SEK slipping back after weaker than expected Swedish CPI. Scope for further losses