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September 20, 2024

Chart USD/INR Update: Extending losses
Paying Article

September 20, 2024 4:38 AM UTC

Pressure remains on the downside with break of the 83.6000 figure opening up steep losses from the 83.9850, all-time high

FX Daily Strategy: Europe, September 20th
Paying Article

September 20, 2024 4:29 AM UTC

BoJ keep rates unchanged…
…but hawkish tone should help cap USD/JPY gains
Risk positive tone may be overdone, but there is value in NOK
GBP strength may be overdone but can hold near term on solid retail sales

AUD/USD flows: Risk undecided
Paying Article

September 20, 2024 4:28 AM UTC

Regional equities are performing individually while U.S. three major equity indexes close to unchanged

BoJ Preview: Pitstop Along the Road
Freemium Article

September 20, 2024 3:33 AM UTC

The BoJ keep rate unchanged in the Sep 20 meeting at 0.25% with forward guidance of more tightening to come

Chart USD/IDR Updates: Extending losses, 15055/15000 support in focus
Paying Article

September 20, 2024 3:24 AM UTC

Sharply lower to extend break of the August low at 15300

Chart USD/THB Update: Under pressure
Paying Article

September 20, 2024 3:10 AM UTC

Shallow bounce to the 33.50 resistance has given way to renewed selling pressure and see the 33.06 low back in focus

USD/JPY flows: BoJ Kept Rates Unchanged
Paying Article

September 20, 2024 3:05 AM UTC

BoJ Kept Rates Unchanged at 0.25%

Chart USD/KRW Update: Extending corrective bounce from 1316.00 low
Paying Article

September 20, 2024 2:57 AM UTC

Extending bounce from the 1316.00 low 

Chart USD/SGD Update: Under pressure, 1.2883 low at risk
Paying Article

September 20, 2024 2:35 AM UTC

Pressure return to the downside after bounce attempt failed to get a foothold above the 1.3000 level

Chart GBP/USD Update: Consolidating below 1.3314, fresh year high
Paying Article

September 20, 2024 2:13 AM UTC

Rebound from the 1.3150 congestion saw gains through the 1.3300 level to reach fresh year high at 1.3314

Chart EUR/USD Update: Poised for retest of the 1.1200 high
Paying Article

September 20, 2024 1:57 AM UTC

 Saw rebound from the 1.1068 pullback low through the 1.1150/55 resistance to approach the 1.1200, August YTD high

Chart EUR/JPY Update: Consolidating test of the 160.00 level
Paying Article

September 20, 2024 1:01 AM UTC

Consolidation at the 158.00 level has given way to break higher to extend gains from the 155.15 low to reach the 160.00 level

Chart USD/JPY Update: Leaning lower in consolidation from the 144.00 resistance
Paying Article

September 20, 2024 12:51 AM UTC

Leaning lower in consolidation from test of the 144.00 resistance with pullback supported at the 142.00 level

Chart NZD/USD Update: Consolidating retest of .6268 spike high
Paying Article

September 20, 2024 12:32 AM UTC

No follow-through on break of the .6250/55 resistance as prices consolidate retest of the .6268 spike high

Chart AUD/USD Update: Consolidating test of .6840 YTD high
Paying Article

September 20, 2024 12:21 AM UTC

Consolidation at the .6750 congestion gave way to extension through the July and August highs at .6800/.6824 to retest the .6840, January YTD high

Asia Open - Overnight Highlights
Paying Article

September 20, 2024 12:00 AM UTC

EMERGING ASIA
EM currencies perform mostly stronger against the USD after market participants digest the FOMC cut and forward guidance. MYR saw the largest gains of 0.88%, followed by IDR 0.67%, THB 0.52%, KRW and CNH 0.34%, SGD 0.27%, PHP 0.24%, CNY 0.2%, INR 0.09% and TWD 0.06%; the only loser is H

September 19, 2024

FX Daily Strategy: Asia, September 20th
Paying Article

September 19, 2024 9:00 PM UTC

BoJ likely to leave rates unchanged…
…but hawkish tone should help cap USD/JPY gains
Risk positive tone may be overdone, but there is value in NOK
GBP strength may be overdone but can hold near term on solid retail sales

North American Summary and Highlights 19 September
Freemium Article

September 19, 2024 7:33 PM UTC

Overview - Unchanged rates decisions gave some support to GBP and NOK. Data gave modest support to the USD. 

Chartbook: US Chart 10 Year Yield: Yield prices remain under pressure
Paying Article

September 19, 2024 5:21 PM UTC

The test of congestion around 4.000% has given way to the anticipated break

Chart USD/CAD Update: Test above 1.3600/30 sharply rejected
Freemium Article

September 19, 2024 4:10 PM UTC

The anticipated test above resistance at 1.3600 and the 1.3630 Fibonacci retracement has been pushed back

...
Time Has Come: SARB Cut the Key Rate to 8.0% on September 19
Paying Article

September 19, 2024 3:57 PM UTC

Bottom line: As we expected, South African Reserve Bank (SARB) started cutting the key rate at the upcoming MPC meeting on September 19 and decreased it from 8.25% to 8.0% given recent fall in inflation, suspended power cuts (loadshedding) after March, deceleration in inflation expectations and a re

U.S. August Existing Home Sales - Downtrend resumes but may bottom soon
Paying Article

September 19, 2024 2:12 PM UTC

August existing home sales with a 2.5% decline to 3.86m have resumed a downtrend after a 1.5% July increase. This is consistent with most housing sector survey evidence through August but signals for September are more positive, which Fed easing should assist.

Chart AUD/USD Update: Consolidating test of current year highs
Paying Article

September 19, 2024 1:53 PM UTC

The anticipated test of resistance at 0.6800 and the 0.6824 monthly high of 29 August has extended

Chart EUR/JPY Update: Extending gains in JPY-driven trade
Paying Article

September 19, 2024 1:35 PM UTC

Anticipated gains have extended beyond 159.00 in JPY-driven trade

Chart USD/JPY Update: Extending gains in JPY-driven trade
Paying Article

September 19, 2024 1:18 PM UTC

Choppy trade has given way to further gains

...
No Surprises as CBRT Continued to Hold Key Rate Stable at 50% on September 19
Paying Article

September 19, 2024 1:11 PM UTC

Bottom Line: As predictions were centred around no change, Central Bank of Turkiye (CBRT) kept the policy rate stable at 50% for the sixth consecutive month on September 19. CBRT reiterated in a statement that tight monetary stance will be maintained until a significant and sustained decline in the

U.S. Initial Claims slip in payroll survey week and September Philly Fed turns positive
Paying Article

September 19, 2024 12:56 PM UTC

Initial claims at 219k from 231k have fallen to their lowest level since May 18, and this data covers the survey week for September’s non-farm payroll. Continued claims, covering the week before initial claims, at 1.829m from 1.843m are at their lowest since June 8. A positive September Philly Fed

Chartbook: Chart GER 10 Year Yield: Approaching critical support - monthly studies under pressure
Paying Article

September 19, 2024 12:32 PM UTC

The anticipated break below congestion around 2.300% is meeting support above congestion around 2.000%

...
BoE Review: Explicit Gradualism
Freemium Article

September 19, 2024 12:05 PM UTC

The expected unchanged MPC decision came with what some may regard was a lack of any major dissent beyond that from arch-dove, Swati Dhingra.  But that 8:1 vote is very much a reaction to the closeness of the MPC vote last month to cut Bank Rate by 25 bp to 5.0%.  It is also preference from the MP

Chart USD/RUB Update: Pressuring 93.8500 - daily studies rising
Paying Article

September 19, 2024 11:24 AM UTC

The anticipated break above 92.0000-92.4200 has reached resistance at the 93.8500 monthly high of 13 August

GBP flows: GBP gains after BoE MPC leaves rates unchanged
Paying Article

September 19, 2024 11:18 AM UTC

GBP up after unchanged rate decision from MPC, with 8-1 vote less dovish than expected. Upside scope for GBP/USD

Chart USD/ZAR Update: Prices remain under pressure
Paying Article

September 19, 2024 10:30 AM UTC

Anticipated losses have extended the October 2023 bear trend to fresh year lows

Psychology for major markets September 19th
Paying Article

September 19, 2024 10:09 AM UTC

Risky currencies rallying as US equities reach new highs after FOMC

Chart EUR/CAD Update: Balanced above 1.5100 - room for a fresh test higher
Paying Article

September 19, 2024 10:08 AM UTC

Little change, as prices extend consolidation above support at 1.5100

Europe Summary and Highlights 19 September
Paying Article

September 19, 2024 10:06 AM UTC

The USD lost ground against the riskier currencies through the European morning. 

Chartbook: U.S. Chart S&P 500: Consolidating retest of 5670 record high - potential for break
Paying Article

September 19, 2024 9:00 AM UTC

Settled back from the 5670 record high at the start of Q3

FX Daily Strategy: N America, September 19th
Paying Article

September 19, 2024 8:59 AM UTC

GBP focus on BoE decision
Rate cut unlikely but GBP may fall if more than 2 dissents
AUD testing the highs of the year

...
Norges Bank Review: Heads Still in the Sand?
Paying Article

September 19, 2024 8:57 AM UTC

As with the five previous policy meetings, the Norges Bank kept its policy rate at 4.5% and equally unsurprising moderated its previous hawkish rhetoric - slightly. While it still fought against market expectations by suggesting policy will remain on hold until year end it did drop its recent stress

Chart EUR/CHF Update: Consolidation giving way to a test higher
Paying Article

September 19, 2024 8:27 AM UTC

The anticipated test lower has not been seen

Chart USD/CHF Update: Choppy in range - sentiment is cautious
Freemium Article

September 19, 2024 8:15 AM UTC

The post-FOMC break below support at 0.8450 has bounced smartly from congestion support at 0.8400

Chart EUR/GBP Update: Leaning lower
Paying Article

September 19, 2024 8:01 AM UTC

The anticipated break lower has reached strong support at 0.8400/03

Chart EUR/USD Update: Choppy in range - daily studies rising
Paying Article

September 19, 2024 7:48 AM UTC

Little change, following choppy post-FOMC trade

BoJ Preview: Signaling More Tigthening
Freemium Article

September 19, 2024 7:38 AM UTC

The BoJ will likely keep rate unchanged in the Sep 20 meeting with forward guidance of more tightening to come

Chart GBP/USD Update: Fresh 2024 year high - daily studies improving
Freemium Article

September 19, 2024 7:36 AM UTC

Choppy post-FOMC trade has posted a fresh 2024 year high at 1.3300

Chart GBP/JPY Update: Extending corrective bounce
Paying Article

September 19, 2024 7:25 AM UTC

Break above the 186.00 resistance see prices extending bounce from the 184.00 congestion