View:

November 20, 2025

FX Daily Strategy: Asia, November 21st
Paying Article

November 20, 2025 10:00 PM UTC

PMIs may put downward pressure on the EUR
GBP risks on the downside on retail sales
JPY continues to make new lows despite verbal intervention…
…so that actual intervention risks are now very high

North American Summary and Highlights 20 Nov
Freemium Article

November 20, 2025 8:23 PM UTC

Overview - The USD was little changed overall after initially slipping on a mixed US employment report, with EUR/USD former but the commodity currencies slipping with equities. 

Chart USD/BRL Update: Further gains to remain limited
Paying Article

November 20, 2025 5:18 PM UTC

The anticipated break below critical support at the 5.2700 monthly low of 18 September has not been seen

Chart USD/CAD Update: Higher in CAD-driven trade
Freemium Article

November 20, 2025 4:59 PM UTC

Cautious trade around 1.4050 has given way to anticipated gains, with CAD-driven trade approaching resistance at the 1.4100 break level

FX Daily Strategy: APAC, November 21st
Paying Article

November 20, 2025 4:10 PM UTC

PMIs may put downward pressure on the EUR
GBP risks on the downside on retail sales
JPY continues to make new lows despite verbal intervention…
…so that actual intervention risks are now very high

Preview: Due November 21 - U.S. November S&P PMIs - Modest corrections lower, still healthy
Paying Article

November 20, 2025 4:05 PM UTC

We expect November’s S and P PMIs to both see modest slippage, manufacturing to 52.0 from 52.5 and services to 54.5 from 54.8 but these will be more corrections from October improvements than any suggestion of underlying weakness. The levels will remain healthy.

U.S. Fed's Hammack - Jobs data mixed, inflation too high
Paying Article

November 20, 2025 3:30 PM UTC

Cleveland Fed President Beth Hammack remains hawkish on inflation.

...
SARB Reduced Key Rate to 6.75% Following Favorable Inflation Outlook
Freemium Article

November 20, 2025 3:21 PM UTC

Bottom Line: South African Reserve Bank (SARB) cut the policy rate by 25 bps to 6.75% during the MPC on November 20 owing to moderate inflation, stronger ZAR, few power cuts (loadshedding) in Q3, balanced growth risks, and lower oil prices. The MPC decision was unanimous. SARB governor Kganyago ment

U.S. October Existing Home Sales - Starting to gain momentum
Paying Article

November 20, 2025 3:16 PM UTC

A 1.2% rise in October existing home sales is in line with other private sector surveys (NAHB, MBA and pending home sales) suggesting some revival in the housing market as the Fed resumes easing. With the scale of future easing uncertain the housing sector outlook is too.

Chart AUD/USD Update: Choppy trade - studies under pressure
Paying Article

November 20, 2025 2:45 PM UTC

Anticipated tests lower have bounced from above the 0.6440 monthly low of 14 October

U.S. Initial Claims stable but Continued Claims moving higher
Paying Article

November 20, 2025 2:45 PM UTC

Today we saw the non-farm payroll for September, as well as eight weeks of initial claims that take us to the survey week for November’s non-farm payroll. Initial claims remain low, though continued claims have been rising in recent weeks, hinting at downside risks for non-farm payrolls in October

Chart USD/JPY Update: Approaching year highs in both USD- and JPY-driven trade
Paying Article

November 20, 2025 2:14 PM UTC

Cautious USD- and JPY-driven gains are giving way to consolidation beneath 158.00

U.S. September Employment - charts and table
Paying Article

November 20, 2025 2:09 PM UTC

September's employment report is somewhat firmer but with mixed detail.

...
U.S. September Employment - Case for a December easing looks a little weaker
Paying Article

November 20, 2025 2:04 PM UTC

September’s non-farm payroll will be the last released before the December 10 FOMC meeting and is surprisingly firm at 119k, albeit with 33k in negative revisions. A rise in unemployment to 4.4% from 4.3% and a 0.2% rise in average hourly earnings provide only marginal offsets to the headline. Nov

USD flows: USD slightly softer after mixed employment report
Paying Article

November 20, 2025 1:43 PM UTC

Employment report mixed despite stronger than expected rise in payrolls. Mild USD negative reaction seems unlikely to persist

Chart EUR/CAD Update: Consolidating - daily studies falling
Paying Article

November 20, 2025 11:48 AM UTC

Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation around congestion support at 1.6200

Psychology for major markets Nov 20
Paying Article

November 20, 2025 11:04 AM UTC

USD firm as Fed easing hopes fade, Nvidia results strong

FX Daily Strategy: N America, November 20th
Paying Article

November 20, 2025 10:10 AM UTC

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

Chart USD/CHF Update: Extending gains
Paying Article

November 20, 2025 9:40 AM UTC

Anticipated gains have reached resistance at 0.8050

Chart USD Index DXY Update: Pressuring strong resistance at 100.00/26
Paying Article

November 20, 2025 9:20 AM UTC

The anticipated test of strong resistance at congestion around 100.00 and the 100.26 monthly high of 1 August is giving way to consolidation

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

November 20, 2025 8:46 AM UTC

The anticipated break below 1.1550 is giving way to consolidation above congestion support at 1.1500

Chart GBP/USD Update: Prices remain under pressure
Freemium Article

November 20, 2025 8:32 AM UTC

The anticipated break below 1.3100 has reached 1.3040~

JPY flows: No mercy for the JPY, intervention necessary
Paying Article

November 20, 2025 7:48 AM UTC

New post-January highs for USD/JPY, new all time highs for EUR/JPY

AUD/USD flows: Rebounding along Risk Sentiment
Paying Article

November 20, 2025 5:45 AM UTC

Risk sentiment broadly upbeat on Thursday

FX Daily Strategy: Europe, November 20th
Paying Article

November 20, 2025 3:56 AM UTC

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