View:

November 19, 2025

...
FOMC Minutes from October 29 and data postponements reinforce doubts over a December move
Paying Article

November 19, 2025 8:03 PM UTC

FOMC minutes from October 29 state that participants expressed strongly differing views over what policy decision would be appropriate in December. With the Labor Department today announcing that the forthcoming non-farm payroll for September will be the last before the December 10 FOMC meeting, the

Chart USD/CAD Update: Choppy in range
Freemium Article

November 19, 2025 5:10 PM UTC

Cautious trade following the test below support at 1.4000 has given way to a steady bounce in both USD- and CAD-driven trade

Preview: Due November 26 - U.S. September Durable Goods Orders - Trend modestly positive
Paying Article

November 19, 2025 4:00 PM UTC

We expect September durable goods orders to increase by 1.4% with a 0.5% increase ex transport, a fifth straight modest rise in the latter showing a clearly if not strongly positive trend.

...
South Africa Inflation Edged Up to 3.6% y/y in October, Marking the Highest Reading Since September 2024
Paying Article

November 19, 2025 3:53 PM UTC

Bottom Line: Statistics South Africa (Stats SA) announced on November 19 that annual inflation edged up to 3.6% YoY in October due to accelerated transport, alcoholic beverages and tobacco, and recreation costs. Despite inflation staying  within the South African Reserve Bank’s (SARB) 1 percenta

FX Daily Strategy: APAC, November 20th
Paying Article

November 19, 2025 3:43 PM UTC

US September employment report finally due, USD upside risks
JPY weakness increases, intervention looking necessary
Equity bounce suggests scope for AUD recovery

Preview: Due November 20 - U.S. October Existing Home Sales - Responding to lower mortgage rates
Paying Article

November 19, 2025 3:24 PM UTC

We expect October existing home sales to increase by 1.0% to 4.10m, extending a  1.5% rise in September to reach the highest level since February, as the housing market gets support from lower mortgage rates as Fed easing resumes.

Chart AUD/USD Update: Studies under pressure
Paying Article

November 19, 2025 3:13 PM UTC

Little change, as prices extend cautious trade just beneath congestion support at 0.6500

Chart USD/JPY Update: Trading at January levels
Paying Article

November 19, 2025 2:47 PM UTC

Cautious trade has given way to fresh gains in both USD- and JPY-driven trade

...
Preview: Due November 20 - U.S. September Employment (Non-Farm Payrolls) - Still subdued, but slightly stronger than in August

November 19, 2025 2:38 PM UTC

We expect September’s non-farm payroll, delayed from October 3, to show another subdued rise,  of 45k, with 50k in the private sector, but marginally stronger than July’s respective gains of 22k and 38k. We expect unemployment to slip to 4.2% from 4.3% on a fall in the labor force, while averag

U.S. August trade deficit slips back after bounce in July, still in correction from inflated pre-tariff deficits
Paying Article

November 19, 2025 2:00 PM UTC

August’s delayed trade deficit of $59.55bn is narrower than expected, down significantly from July’s $78.5bn, but still marginally above June’s $59.09bn. Despite July’s bounce, the deficit remains in a correction from the inflated pre-tariff levels of Q1 which saw a record deficit of $136.42

Chart EUR/CAD Update: Daily studies under pressure
Paying Article

November 19, 2025 12:03 PM UTC

The test below congestion support at 1.6200 has bounced from 1.6175

Psychology for major markets Nov 19
Paying Article

November 19, 2025 11:12 AM UTC

USD mostly steady as delayed US data awaited, JPY still weak

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

November 19, 2025 10:05 AM UTC

UK CPI data to keep some downward pressure on GBP
GBP looks set for a steady decline against the EUR
JPY decline is slow but inexorable – official Japanese action likely necessary to halt decline
EUR/CHF extending bounce but upside looks quite limited

JPY flows: JPY hitting new lows after Katayama press conference
Paying Article

November 19, 2025 10:01 AM UTC

Finance minister Katayama provides no comfort to JPY bulls

Chart USD/CHF Update: Edging higher in USD- and CHF-driven trade
Paying Article

November 19, 2025 9:13 AM UTC

Cautious trade has given way to the anticipated test of congestion resistance at 0.8000 in both USD- and CHF-driven trade

JPY flows: JPY hitting new lows ahead of Katayama press conference
Paying Article

November 19, 2025 9:04 AM UTC

JPY still weak with Finance minister Katayama set to hold a press conference after a meeting with BoJ governor Ueda

Chart USD Index DXY Update: Limited tests higher
Paying Article

November 19, 2025 9:03 AM UTC

Little change, as prices extend cautious trade above 99.50

Chart EUR/USD Update: Drifting lower
Paying Article

November 19, 2025 8:42 AM UTC

The anticipated break below 1.1600 has reached 1.1570~

Chart GBP/USD Update: Drifting lower
Freemium Article

November 19, 2025 8:30 AM UTC

Little change, as mixed intraday studies keep near-term sentiment cautious

...
UK CPI Review: Down from Likely Peak?
Freemium Article

November 19, 2025 7:50 AM UTC

It does seem as if the September CPI outcome (a third successive and lower-than-expected outcome of 3.8%) will prove to be the inflation peak.  Indeed, the just released October figure fell a little less than the consensus but in line with BoE thinking, to 3.6%, helped by favourable energy base eff

GBP flows: UK CPI data marginally on the soft side
Paying Article

November 19, 2025 7:25 AM UTC

GBP a tad weaker as core CPI rises slightly less than expected

USD/JPY flows: Conflict with China Persists
Paying Article

November 19, 2025 5:25 AM UTC

China intends to renew a ban on Japanese seafood imports

FX Daily Strategy: Europe, November 19th
Paying Article

November 19, 2025 4:30 AM UTC

UK CPI data to keep some downward pressure on GBP
GBP looks set for a steady decline against the EUR
JPY decline is slow but inexorable – official Japanese action likely necessary to halt decline
EUR/CHF extending bounce but upside looks quite limited

AUD/USD flows: Caught the risk off flow
Paying Article

November 19, 2025 4:21 AM UTC

Australia Q3 Wage Price Index 0.8% q/q

Chart GBP/USD Update: Extend choppy trade below 1.3200/15 highs
Freemium Article

November 19, 2025 1:37 AM UTC

Little change, as prices extend choppy trade below the 1.3200/15 highs of last week