North American Summary and Highlights 20 December

December 20, 2024 8:26 PM UTC

Overview - The USD fell after weaker than expected core PCE price data. 

Chart USD/CAD Update: Leaning lower

December 20, 2024 4:43 PM UTC

Little change, as the pullback from the 1.4465 current year high of 19 December gives way to choppy trade beneath resistance at 1.4400

FX Weekly Strategy: December 23rd - January 3rd

December 20, 2024 4:29 PM UTC

Limited data and events to move the market
JPY weakness is extreme – risks on the JPY upside
USD strength hard to oppose, but Trump effect could be negative
GBP strength hard to square with economic weakness

Chart AUD/USD Update: Consolidating losses - background under pressure

December 20, 2024 3:12 PM UTC

Little change, as the bounce from congestion support at 0.6200 gives way to consolidation

Chart EUR/JPY Update: Consolidating December gains

December 20, 2024 2:52 PM UTC

Cautious trade around 163.20 has given way to a drift lower

Chart USD/JPY Update: September gains meeting selling interest

December 20, 2024 2:45 PM UTC

The anticipated break above resistance at 156.65/00 has met selling interest at congestion around 158.00

Chart USD Index DXY Update: Balanced beneath fresh year high

December 20, 2024 2:21 PM UTC

Choppy trade has posted a fresh year high at 108.54

Preview: Due December 23 - Canada October GDP - Strongest rise since April

December 20, 2024 2:17 PM UTC

We expect Canadian GDP to see a 0.2% increase in October, slightly above a preliminary 0.1% estimate made with September’s report and the strongest increase since April. This would suggest Bank of Canada easing is starting to have some impact. 

Chart USD/RUB Update: Extending consolidation - background studies under pressure

December 20, 2024 1:12 PM UTC

Little change, as prices extend cautious trade above recent range lows around 102.0000

Chart EUR/PLN Update: Further consolidation

December 20, 2024 12:28 PM UTC

Still little change, as prices extend consolidation above critical support at the 4.2470 current year low of 15 July and congestion around 4.2500

Chart USD/ZAR Update: Pressuring critical resistance at 18.3920

December 20, 2024 12:12 PM UTC

Cautious trade has given way to anticipated gains

This week's five highlights

December 20, 2024 12:00 PM UTC

Fed Policy Easing Slowing
BoJ Serves A Nothing Burger
A Dovish Hold for BoE
Norges Bank Caution Prevails
Nearing the End for Sweden Riksbank?

Chart EUR/CAD Update: Choppy trade - daily studies under pressure

December 20, 2024 11:40 AM UTC

The anticipated test of support at 1.4900 has extended to 1.4875

Psychology for major markets December 20th

December 20, 2024 11:12 AM UTC

USD remains firm, particularly against the JPY, GBP falling back

Europe Summary and Highlights 20 December

December 20, 2024 11:10 AM UTC

The USD edged slightly lower through the European morning in fairly quiet trade. 

FX Daily Strategy: N America, December 20th

December 20, 2024 10:00 AM UTC

US to hold most of its post-FOMC gains
Some scope for EUR recovery based on yield spread metrics
JPY still struggling
GBP has scope to fall further

Chart EUR/CHF Update: Under pressure

December 20, 2024 9:26 AM UTC

 Anticipated losses have reached congestion support at 0.9300

Chart USD/CHF Update: Leaning lower

December 20, 2024 9:14 AM UTC

Little change, as prices extend choppy trade above congestion support at 0.8950

Chart EUR/GBP Update: Limited tests higher

December 20, 2024 9:00 AM UTC

Choppy trade has given way to a sharp, (GBP-driven), bounce

Chart EUR/USD Update: Any gains to remain limited - studies under pressure

December 20, 2024 8:39 AM UTC

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

Chart GBP/USD Update: Prices remain under pressure

December 20, 2024 8:31 AM UTC

Anticipated minor tests higher have been pushed back from 1.2650

Chart GBP/JPY Update: Lower in consolidation from 198.95 spike high

December 20, 2024 7:58 AM UTC

Consolidation below the 196.00 level saw sharp break higher to extend gains from the 188.07 low

GBP flows: GBP stays soft after retail sales

December 20, 2024 7:45 AM UTC

GBP stayn on the back foot after mildly softer retail sales with the MPC vote and statement suggesting downside risks

Chart AUD/JPY Update: Extending choppy gains from 96.00/95.52 support

December 20, 2024 7:40 AM UTC

 Saw rebound from the 96.00 congestion to extend choppy gains from the 95.52 low to regain the 98.00 level

Chart AUD/NZD Update: Extending gains

December 20, 2024 7:25 AM UTC

Rebound from the 1.1000 support has seen rally to break resistance at the 1.1050/55 congestion and 50% Fibonacci level

Chart EUR/AUD Update: Consolidating test of 1.6700/20 resistance

December 20, 2024 6:55 AM UTC

Settled back from test of strong resistance at the 1.6700 level and 1.6720, 61.8% Fibonacci retracement

Chart USD/MYR Update: Extending gains

December 20, 2024 5:44 AM UTC

Rally above the 4.4880 high of November further extend gains from the September low

Asia Summary and Highlights 20 December

December 20, 2024 5:28 AM UTC

Asia Session
On Friday, we started the day with some verbal intervention from Japan finance minister Kato. The jawboning came with nothing new but is enough to curb the latest rally in USD/JPY. Moreover, the Japan November National headline CPI came in stronger than prior month at +2.9%, ex fresh foo

USD/JPY flows: Stronger CPI

December 20, 2024 5:24 AM UTC

Japan November National headline CPI +2.9% 

Chart USD/CNH Update: Consolidating below 7.3300 level

December 20, 2024 5:21 AM UTC

Further gains has seen extension to fresh year high at 7.3270

FX Daily Strategy: Europe, December 20th

December 20, 2024 5:09 AM UTC

US to hold most of its post-FOMC gains
Some scope for EUR recovery based on yield spread metrics
JPY still struggling
GBP has scope to fall further but retail sales may be mildly supportive

Chart USD/INR Update: Extending gains fresh record high

December 20, 2024 5:08 AM UTC

Further extending bullish gains from the September low to reach fresh record high at 85.1000 level

AUD/USD flows: Resume downward traction

December 20, 2024 3:56 AM UTC

Aussie looks set to test yearly low again

Chart USD/IDR Updates: Consolidating test of 16300 level

December 20, 2024 3:14 AM UTC

Break above the 16284 resistance has seen extension to the 16300 level where prices are meeting selling pressure

Chart USD/THB Update: Still room to extend gains

December 20, 2024 2:54 AM UTC

Break above the 34.50 resistance has seen gains reaching 34.68 high before settling back in consolidation

Chart USD/KRW Update: Consolidating below 1455.00, current year high

December 20, 2024 2:32 AM UTC

Little change, as prices settled back in range from fresh year high at 1455.00

Chart USD/SGD Update: Consolidating, higher will see room to retest 1.3670 April YTD high

December 20, 2024 2:24 AM UTC

Little change, as prices consolidate test of the 1.3635 high

Chart GBP/USD Update: Weighing on 1.2487 Novermber low, break in focus

December 20, 2024 2:16 AM UTC

 Prices remain under pressure to extend the breakdown from the 1.2600 level to retest the 1.2487, November low

Chart EUR/USD Update: Extending consolidation above 1.0331 low

December 20, 2024 2:01 AM UTC

 Turned up just above the 1.0331 November YTD lo, as prices consolidate the breakdown from the 1.0448 support

USD/JPY flows: Verbal intervention Resurfaces

December 20, 2024 1:56 AM UTC

Japan finance minister Kato with verbal intervention 

Chart EUR/JPY Update: Extending gains

December 20, 2024 1:51 AM UTC

Rebound from the 160.00 level to break the 162.00 resistance has seen prices reaching 163.80 high

Chart USD/JPY Update: Extending gains

December 20, 2024 12:59 AM UTC

Extending sharp rally through the 156.00 level and 156.75 high of November to reach towards the 158.00 level

Chart NZD/USD Update: Consolidating above .5600, but still vulnerable

December 20, 2024 12:37 AM UTC

Steadied at the .5608 low as prices consolidate sharp breakdown through the .5750/40 support

Chart AUD/USD Update: Consolidating at .6200 low, room to extend losses

December 20, 2024 12:22 AM UTC

Reached fresh low for the year at the .6200 level