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February 21, 2024

Chart EUR/USD Update: Cautious trade - resistance at 1.0850/65
Paying Article

February 21, 2024 8:44 AM UTC

The anticipated test above 1.0800 has met selling interest beneath congestion resistance at 1.0850

Chart GBP/USD Update: Choppy in range - background studies under pressure
Freemium Article

February 21, 2024 8:30 AM UTC

Choppy trade has broken higher to retest resistance at 1.2650

EUR, JPY flows: Quiet market favours higher yielders for now
Paying Article

February 21, 2024 7:52 AM UTC

USD a touch softer, JPY weakness still the only real trend, but becoming increasingly dangerous

Chart NOK/SEK Update: Choppy around the .9900 level, room for lower later
Paying Article

February 21, 2024 7:48 AM UTC

Extending choppy trade around the .9900 level 

Chart EUR/AUD Update: Weighing on the 1.6455 support, scope for break
Paying Article

February 21, 2024 7:09 AM UTC

Weighing on the 1.6455 support and scope seen for break here to extend rejection from the 1.6600 congestion and channel resistance

FX Daily Strategy: Europe, February 21st
Paying Article

February 21, 2024 4:36 AM UTC

Focus on FOMC minutes and speeches
Risks towards a more hawkish tilt
USD may recovery ground lost on Tuesday
GBP still vulnerable despite upbeat comments from BoE governor Bailey

Chart GBP/USD Update: Extending choppy trade around the 1.2600 level
Paying Article

February 21, 2024 2:11 AM UTC

Extending choppy trade around the 1.2600 level

Chart EUR/USD Update: Above 1.0800 see room to 1.0845/1.0900 area
Paying Article

February 21, 2024 1:44 AM UTC

 Consolidation below the 1.0800 level has given way to break higher to extend gains from the 1.0695 low 

Chart EUR/JPY Update: Extending gains
Paying Article

February 21, 2024 1:28 AM UTC

Pressure remains on the upside and clear break above the 162.00 level see scope for further gains to the 163.00 congestion

February 20, 2024

FX Daily Strategy: Asia, February 21st
Paying Article

February 20, 2024 10:00 PM UTC

Focus on FOMC minutes and speeches
Risks towards a more hawkish tilt
USD may recovery ground lost on Tuesday
GBP still vulnerable despite upbeat comments from BoE governor Bailey

Preview: Due February 28 - U.S. Preliminary (Second) Estimate Q4 GDP - Revision seen marginally lower but still strong
Paying Article

February 20, 2024 4:17 PM UTC

We expect the second (preliminary) estimate for Q4 GDP to be revised only marginally lower to 3.2% from the unexpectedly strong first (advance) estimate of 3.3%. 

FX Daily Strategy: APAC, February 21st
Paying Article

February 20, 2024 4:16 PM UTC

Focus on FOMC minutes and speeches
Risks towards a more hawkish tilt
USD may recovery ground lost on Tuesday
GBP still vulnerable despite upbeat comments from BoE governor Bailey

Chart USD/CAD Update: Cautious trade
Freemium Article

February 20, 2024 4:09 PM UTC

Little change

Chart EUR/JPY Update: Edging higher
Paying Article

February 20, 2024 2:02 PM UTC

Cautious trade is giving way to a fresh break above congestion resistance at 162.00

Canada January CPI - Stronger than US CPI in late 2023, but softer in January
Paying Article

February 20, 2024 1:57 PM UTC

January’s Canadian CPI is significantly softer than expected, falling to 2.9% yr/yr from 3.4%, reaching its lowest since June 2023. In the second half of 2023 Canadian inflation was more stubbornly strong than falling US data, but this data for January combined with a stronger US CPI reduces the c

Chart USD Index DXY Update: Leaning lower
Paying Article

February 20, 2024 1:42 PM UTC

Little change, as prices extend pressure on congestion support at 104.00

Chart USD/RUB Update: Consolidating gains - background studies rising
Paying Article

February 20, 2024 12:33 PM UTC

The test of critical resistance at the 93.5300 monthly high of 7 December is giving way to anticipated consolidation

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

February 20, 2024 11:46 AM UTC

Cautious trade has given way to a test higher

European Summary and Highlights 20 Feb
Paying Article

February 20, 2024 11:29 AM UTC

The USD was generally weaker through the European morning session. 

Chart EUR/CAD Update: Edging higher
Paying Article

February 20, 2024 11:28 AM UTC

 Cautious trade is giving way to the anticipated push higher

Psychology for major markets Feb 20
Paying Article

February 20, 2024 11:04 AM UTC

Positive equity market tone keeping the USD and JPY on the back foot

...
ECB – What is it Actually Targeting as it Assesses Price Persistence?
Paying Article

February 20, 2024 10:24 AM UTC

The ECB remit is targeting an inflation rate of 2% over the medium term.  Implicit in this is that this is measured on a moving y/y basis.  However, there is nothing sacrosanct in this as the ECB is starting to be more open about using shorter-term measures, albeit more as indicators of price mome

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

February 20, 2024 9:58 AM UTC

Slower Canada CPI but modest progress on core rates
Japanese Import to Preview Domestic Demand
USD/JPY Should Be Capped by 151
Australia Wage To Follow Easing Labor Market

Chart EUR/CHF Update: Room for higher in the coming sessions
Paying Article

February 20, 2024 9:24 AM UTC

Cautious trade has given way to a move higher

...
China: 5yr LPR Cut But Not 1yr LPR
Paying Article

February 20, 2024 9:17 AM UTC

A larger than expected 25bps cut in the 5yr Loan Prime Rate (LPR) has been delivered, but the 1yr LPR rate was unchanged given that PBOC reluctance to cut the 1yr Medium-Term Facility rate (MTF) this month.  The 5yr LPR rate is not a game changer for residential property, as bigger policy moves are

Chart USD/CHF Update: Consolidating above 0.8800 - background studies positive
Freemium Article

February 20, 2024 9:13 AM UTC

Still little change, as rising intraday studies keep near-term sentiment cautious

Chart EUR/GBP Update: Higher in cautious trade - more positive above 0.8568
Paying Article

February 20, 2024 8:59 AM UTC

Cautious trade has given way to a break back above 0.8547/50

IMM Commitment of Traders Reports w/e Feb 13th
Paying Article

February 20, 2024 8:53 AM UTC

GBP net long positions stand out as extended. AUD and JPY significantly net short.

Chart EUR/USD Update: Cautious trade - background studies under pressure
Paying Article

February 20, 2024 8:36 AM UTC

Little change, as intraday studies turn down and prompt consolidation

Chart GBP/USD Update: Consolidating - background studies under pressure
Freemium Article

February 20, 2024 8:21 AM UTC

The anticipated test of resistance at 1.2650 has not been seen

GBP flows: GBP downside risks on BoE testimony
Paying Article

February 20, 2024 7:47 AM UTC

BoE testimony may well be more dovish in view of recent developments, suggesting GBP downside risks

Chart GBP/JPY Update: Extend consolidation below the 190.00 level
Paying Article

February 20, 2024 7:45 AM UTC

Little change, as prices consolidate test of the 190.00 level

Chart EUR/AUD Update: Weighing on the 1.6475/55 support
Paying Article

February 20, 2024 7:06 AM UTC

Prices remain under pressure following rejection from the 1.6600/20 congestion and the bearish channel from the August high.

FX Daily Strategy: Europe, February 20th
Paying Article

February 20, 2024 4:58 AM UTC

Slower Canada CPI but modest progress on core rates
Japanese Import to Preview Domestic Demand
USD/JPY Should Be Capped by 150
Australia Wage To Follow Easing Labor Market

USD/JPY flows: Another day, another 150
Paying Article

February 20, 2024 4:57 AM UTC

U.S. Treasury Yields performing individually while 10yr JGB yields slip

FX Daily Strategy: Asia, February 20th
Paying Article

February 20, 2024 4:00 AM UTC

Slower Canada CPI but modest progress on core rates
Japanese Import to Preview Domestic Demand
USD/JPY Should Be Capped by 150
Australia Wage To Follow Easing Labor Market

Chart GBP/USD Update: Still resisted on bounce attempt
Paying Article

February 20, 2024 2:23 AM UTC

 Still resisted in choppy trade from the 1.2518/35 lows to extend consolidation at the 1.2600 level

Chart EUR/USD Update: Consolidating below the 1.0800 level
Paying Article

February 20, 2024 2:02 AM UTC

 Remains in consolidation below the 1.0800 level as prices unwind the stretched intraday and daily studies

Chart EUR/JPY Update: Consolidating below 162.00 level
Paying Article

February 20, 2024 1:45 AM UTC

Pressure remains on the upside but gains kept in check below the 162.00 level

February 19, 2024

Chart USD/CAD Update: Consolidating - limited tests higher
Freemium Article

February 19, 2024 5:03 PM UTC

Little change, as cautious USD- and CAD-trade keeps price action cautious 

Chart EUR/PLN Update: Leaning lower, but downside to remain limited
Paying Article

February 19, 2024 4:41 PM UTC

The test of resistance at 4.3500 has given way to consolidation

Chart USD Index DXY Update: Consolidating - limited downside tests
Paying Article

February 19, 2024 2:08 PM UTC

Still little change, as rising intraday studies keep near-term sentiment cautious 

Preview: Due February 20 - Canada January CPI - Slower but only modest progress on core rates
Paying Article

February 19, 2024 2:00 PM UTC

We expect January Canadian CPI to slip to 3.1% yr/yr, reversing a rise to 3.4% yr/yr in December. Monthly data is likely to look subdued after seasonal adjustment though progress in reducing the three Bank of Canada core rates will be modest. 

Chart USD/ZAR Update: Cautious trade under pressure
Paying Article

February 19, 2024 12:40 PM UTC

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

Chart EUR/CAD Update: Consolidating - limited tests higher
Paying Article

February 19, 2024 12:23 PM UTC

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

European Summary and Highlights 19 Feb
Paying Article

February 19, 2024 11:35 AM UTC

European FX trading was subdued, with the U.S. on holiday and the market searching for direction.

Chart EUR/CHF Update: Consolidating - background studies rising
Paying Article

February 19, 2024 10:17 AM UTC

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

Chart EUR/JPY Update: Consolidation following fresh 2024 high
Paying Article

February 19, 2024 10:02 AM UTC

Cautious trade has posted a fresh 2024 year high just beneath 162.00

Chart USD/CHF Update: Balanced at 0.8800 - daily studies under pressure
Freemium Article

February 19, 2024 9:38 AM UTC

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

Chart EUR/GBP Update: Leaning lower, but immediate downside to remain limited
Paying Article

February 19, 2024 9:27 AM UTC

The test of resistance at the 0.8568 weekly high of 30 January has given way to a pullback