USD flows: USD slightly lower after softer CPI

May 13, 2025 12:57 PM UTC

USD slightly lower after CPI but may still have potential for gains

GBP flows: EUR/GBP edging lower but UK labour market data neutral

May 13, 2025 6:44 AM UTC

EUR/GBP decline likely to stall near 0.84.

AUD/USD flows: Proxy supported

May 13, 2025 4:44 AM UTC

People’s Bank of China set the daily USD/CNY reference rate below 7.2 for the first time since April 7

USD/JPY flows: Retracing partial Monday gains

May 13, 2025 2:38 AM UTC

BoJ Dep Gov Uchida says there is upside & downside risk from US tariffs on Japan's prices
Japan finance minister Kato wants to discuss FX with Bessent

EUR flows: EUR/USD risk premium declines

May 12, 2025 8:24 AM UTC

Scope for a further decline in EUR/USD as risk premia fall

IMM Commitment of Traders Reports w/e May 6th

May 12, 2025 7:34 AM UTC

Net long JPY positioning remain extreme, long USD positions elsewhere modest

USD, JPY, EUR, AUD, CAD flows: Risk positive tone persists on hopes of US/China trade deal

May 12, 2025 6:59 AM UTC

Reports of progress in US/China trade talks trigger more risk positive moves in equities and FX. 

AUD/USD flows: U.S. equity solid

May 12, 2025 4:36 AM UTC

U.S. equities outperform regional equities on upbeat mood

CAD flows: CAD little changed after employment report

May 9, 2025 12:53 PM UTC

USD/CAD little changed but risks to the upside as employment trend weakens

NOK flows: NOK little changed after CPI

May 9, 2025 6:41 AM UTC

Norwegian CPI on the soft side, but NOK still good value

AUD/USD flows: Risk mood choppy

May 9, 2025 4:43 AM UTC

China weighs nationwide ban on home pre-sales to stabilise property market

USD/JPY flows: Labor Cash Earning Growth Slows

May 9, 2025 2:31 AM UTC

March Labor Cash Earnings +2.1% y/y

USD flows: Trump lifts equites and USD, though signals are mixed

May 8, 2025 4:09 PM UTC

The US-UK trade deal is underwhelming, if welcome. Trump’s suggestion that tariffs on China could be lowered if talks scheduled this weekend go well is giving the USD a more significant lift, though Trump continues to give mixed signals, making tariff threats alongside a suggestion that equities b

GBP flows: GBP slightly weaker after BoE cut

May 8, 2025 11:17 AM UTC

BoE cuts 25bps as expected, but three way split on MC, with two votes for a 50bp cut and two for no change. GBP slightly firmer in response

SEK flows: SEK slightly weaker after Riksbank

May 8, 2025 7:46 AM UTC

Unchanged rates from the Riksbank no surprise. SEK slightly weaker

EUR, GBP flows: EUR should gains support from German data, GBP firmer on trade deal hopes

May 8, 2025 6:24 AM UTC

German production data suggetss rising trend. Talk of US/UK trade deal should offset any concerns about weaker growth in the BoE MPR

AUD/USD flows: Risk mood positive

May 8, 2025 4:43 AM UTC

Risk mood is broadly positive on Thursday

USD/JPY flows: U.S.-UKTrade Talks Will Begin

May 8, 2025 4:21 AM UTC

Trump says he’ll announce “major” trade deal Thursday
Chinese Embassy in the US says China will not compromise its principles in trade talks

EUR, SEK flows: EUR well supported, SEK edging lower after data

May 7, 2025 6:24 AM UTC

EUR/USD well supported on general USD weakness; German orders on the strong side. SEK edging lower after weaker Swedish CPI

USD/JPY flows: U.S.-China Trade Talks Will Begin

May 7, 2025 4:45 AM UTC

India Launches Missile Strikes on Alleged Terror Camps in Pakistan
U.S.-China to meet on trade

IMM Commitment of Traders Reports w/e April 29th

May 6, 2025 7:01 AM UTC

Net long JPY positioning extends to new highs, long USD positions elsewhere reduced

JPY, AUD flows: USD lower, JPY outperforming

May 6, 2025 6:47 AM UTC

JPY largely reversed the weakness seen late last week, but may now hold near current levels. AUD recovery could extend

AUD/USD flows: Regional equities strong

May 6, 2025 5:02 AM UTC

Regional sentiment is upbeat on Tuesday

USD/JPY flows: Retest 144

May 6, 2025 2:21 AM UTC

USD/JPY tried to retest the 144 figure in early Asia

AUD/USD flows: Risk soft

May 5, 2025 5:03 AM UTC

U.S. equities indexes on a soft note

USD/JPY flows: Tariff Man Strikes Again

May 5, 2025 1:30 AM UTC

Risk sentiment slumped on Monday

USD flows: Employment report should be broadly neutral

May 2, 2025 12:44 PM UTC

Net of revisions, the employment report looks close to consensus

JPY flows: JPY staying weak as risk appetite recovers, but...

May 2, 2025 6:42 AM UTC

EUR/JPY hit a new high for the year. Corrective activity possible pre-emloyment report, but turn in risk sentiment needed to halt JPY weakness

USD/JPY flows: Early Jump Did not Last

May 2, 2025 5:16 AM UTC

Japan March unemployment rate 2.5%

AUD/USD flows: Sentiment Upbeat

May 2, 2025 2:04 AM UTC

China says the US has sought to begin trade talks and is thinking about it

USD flows: ISM slightly better than expected, USD stays firm

May 1, 2025 2:10 PM UTC

ISM better than feared, USD firm

USD flows: USD resilient despite higher claims

May 1, 2025 1:10 PM UTC

Higher claism may be a sign of things to come, but USD still resilient for now

USD, JPY flows: USD stronger, JPY weaker on BoJ, Microsoft

May 1, 2025 6:41 AM UTC

The USD is generally stronger helped by positive Microsoft earnings, and the JPY has suffered from the BoJ cut to growth forecasts. But we still favour the JPY medium term

USD/JPY flows: BoJ Rates Left Unchanged

May 1, 2025 4:57 AM UTC

BoJ kept rates unchanged at 0.5%

USD flows: USD slightly softer after GDP

April 30, 2025 12:46 PM UTC

GDP came in at -0.3% in Q1 due to weakness in net exports, but underlying demand remains strong

EUR flows: Eurozone GDP stronger than expected

April 30, 2025 9:09 AM UTC

Q1 GDP up 0.4% q/q against consensus of 0.2%

EUR, JPY flows: EUR upside limited by weak EUR data

April 30, 2025 6:29 AM UTC

French GDP rises, but only due to inventory build-up. EUR/USD upside limited by weak Eurozone growth prospects

USD/JPY flows: Trump May Ease Tariffs on Auto

April 30, 2025 4:29 AM UTC

Japanese government official expresses mixed feelings on Trump tariffs

SEK, CAD flows: SEK unmoved by softer GDP, CAD little changed on election

April 29, 2025 6:42 AM UTC

EUR/SEK little changed but has some upside scope after softer GDP. CAD can extend weakness on crosses after election result.

USD/JPY flows: Trump May Ease Tariffs on Auto

April 29, 2025 4:42 AM UTC

White House official says Trump expected to soften auto tariffs

USD flows: Asymmetrical data risk

April 28, 2025 6:56 PM UTC

The US has a heavy data calendar this week, Q1 GDP on Wednesday and April non-farm payroll on Friday being the highlights. Tomorrow sees advance goods trade and job openings for March and consumer confidence for April. 

IMM Commitment of Traders Reports w/e April 22nd

April 28, 2025 7:35 AM UTC

Net long JPY positioning extends to new highs, long USD positions elsewhere reduced