FX News

FX News

Calendar of Economic Releases

Monday January 20th
2:00pm CNY 1-y Loan Prime Rate 3.10% 3.10%
2:00pm CNY 5-y Loan Prime Rate 3.60% 3.60%
Day 1 All WEF Annual Meetings

Tuesday January 21st
All Day USD Bank Holiday
8:00pm GBP Claimant Count Change 10.3K 0.3K
8:00pm GBP Average Earnings Index 3m/y 5.60% 5.20%
Day 2 All WEF Annual Meetings
11:00pm EUR German ZEW Economic Sentiment 15.2 15.7

Wednesday January 22nd
2:30am CAD CPI m/m -0.70% 0.00%
2:30am CAD Median CPI y/y 2.50% 2.60%
2:30am CAD Trimmed CPI y/y 2.50% 2.70%
2:30am CAD Common CPI y/y 1.90% 2.00%
10:45am NZD CPI q/q 0.50% 0.60%
Day 3 All WEF Annual Meetings Read more

FX News

Calendar of Economic Releases

Monday January 13th
All Day JPY Bank Holiday
13th-15thCNY New Loans Forecast: 890B Previous: 580B

TueJan 14
Wednesday January 15th
2:30am USD Core PPI m/m Forecast: 0.20% Previous: 0.20%
2:30am USD PPI m/m Forecast: 0.40% Previous: 0.40%
8:00pm GBP CPI y/y Forecast: 2.60% Previous: 2.60%

Thursday January 16th
2:30am USD Core CPI m/m Forecast: 0.20% Previous: 0.30%
2:30am USD CPI m/m Forecast: 0.30% Previous: 0.30%
2:30am USD CPI y/y Forecast: 2.90% Previous: 2.70%
2:30am USD Empire State Manufacturing Index Forecast: -0.3 Previous: 0.2
4:30am USD Crude Oil Inventories Previous: -1.0M
1:30pm AUD Employment Change Forecast: 14.5K Previous: 35.6K
1:30pm AUD Unemployment Rate Forecast: 4.00% Previous: 3.90%
8:00pm GBP GDP m/m Forecast: 0.20% Previous: -0.10% Read more

FX News

Calendar of Economic Releases

Monday January 6th
All Day EUR Italian Bank Holiday
All Day EUR German Prelim CPI m/m Forecast 0.30% Previous -0.20%

Tuesday January 7th
3:45am USD Final Services PMI Forecast 58.5 Previous 58.5
10:30pm GBP Construction PMI Forecast 54.3 Previous 55.2
11:00pm EUR Core CPI Flash Estimate y/y Forecast 2.70% Previous 2.70%
11:00pm EUR CPI Flash Estimate y/y Forecast 2.40% Previous 2.20%

Wednesday January 8th
4:00am CAD Ivey PMI Forecast 55.4 Previous 52.3
4:00am USD ISM Services PMI Forecast 53.2 Previous 52.1
4:00am USD JOLTS Job Openings Forecast 7.77M Previous 7.74M
1:30pm AUD CPI y/y Forecast 2.20% Previous 2.10% Read more

FX News

Calendar of Economic Releases

Monday December 30th
9:00pm EUR Spanish Flash CPI y/y 2.60% 2.40%

Tuesday December 31st
3:45am USD Chicago PMI 42.7 40.2
4:00am USD Pending Home Sales m/m 0.90% 2.00%
All Day JPY Bank Holiday
2:30pm CNY Manufacturing PMI 50.3 50.3
2:30pm CNY Non-Manufacturing PMI 50.2 50
All Day EUR German Bank Holiday

Wednesday January 1st
3:00am USD S&P/CS Composite-20 HPI y/y 4.10% 4.60%
All Day NZD Bank Holiday
All Day AUD Bank Holiday
All Day JPY Bank Holiday
All Day CNY Bank Holiday
All Day EUR French Bank Holiday
All Day EUR German Bank Holiday
All Day EUR Italian Bank Holiday
9:00pm GBP Bank Holiday Read more

FX News

AUD/USD Transfer

The 2024 average rate in the AUD/USD cross is 0.6613.

The Australian Dollar (AUD) has fallen sharply again off the weekly open against the Australian Dollar (AUD) clocking a fresh October 2023 low of 0.6330. A break past prior September support at 0.6280 may spell further drops to 0.6170 levels. The Australian economy is sensitive to prospects of a US trade war with China, RBA  Deputy Governor Hauser said as Australia rely on China for a massive amount of trade export especially in natural resources. Its possible when the Fed cut interest rates tomorrow from 4.75% to 4.5% they may signal a hawkish tone around a gradual easing. We are seeing this already in the currency as most of this is already baked in.

Current Level: 0.6331
Resistance: 0.6400
Support: 0.6280
Last Weeks Range: 0.6335- 0.6470

 

FX News

EURO/AUD Transfer

The 2024 average rate in the AUD/EUR cross is 0.6100.

A head and shoulder chart pattern has emerged on the Euro (EUR), Australian Dollar (AUD) cross implying further weakness in the Aussie should retest the 0.6025 (1.6600)  level before going on to consider 0.6015 (1.6630). Although the ECB made comment they need to reconsider “restrictive” policy the EUR has been firmly in charge. The Aussie has been hampered by further talk around a trade war between the US and China signalling a potential hit on Australian exports. Also of note is rhetoric with the RBA cutting from February.

Current Level: 1.6583
Resistance: 1.6630
Support: 1.6530
Last Weeks Range: 1.6349- 1.6576

FX News

AUD/EURO Transfer

The 2024 average rate in the AUD/EUR cross is 0.6100.

A head and shoulder chart pattern has emerged on the Euro (EUR), Australian Dollar (AUD) cross implying further weakness in the Aussie should retest the 0.6025 (1.6600)  level before going on to consider 0.6015 (1.6630). Although the ECB made comment they need to reconsider “restrictive” policy the EUR has been firmly in charge. The Aussie has been hampered by further talk around a trade war between the US and China signalling a potential hit on Australian exports. Also of note is rhetoric with the RBA cutting from February.

Current Level: 0.6030
Resistance: 0.6050
Support: 0.6015
Last Weeks Range: 0.6032- 0.6116

FX News

GBP/AUD Transfer

The 2024 average rate in the AUD/GBP cross is 0.5171.

It will be a dovish leaning Bank of England (BoE) when they meet on Friday morning with expectations of a hold at 4.75%, this may keep the Pound well supported at least in the short term against the Australian Dollar (AUD). The cross has traded into Wednesday at a 2024 low of 0.4985 (2.0060) surpassing the Aug 2023 low of 0.5010 (1.9970). There is growing consensus that the RBA will start cutting rates from next February, we expect 50 points with a decline in recent consumer confidence and pending US/China tariff woes.

Current Level: 2.0080
Resistance: 2.2318
Support: 1.9550
Last Weeks Range: 1.9760- 2.0106

FX News

AUD/GBP Transfer

The 2024 average rate in the AUD/GBP cross is 0.5171.

It will be a dovish leaning Bank of England (BoE) when they meet on Friday morning with expectations of a hold at 4.75%, this may keep the Pound well supported at least in the short term against the Australian Dollar (AUD). The cross has traded into Wednesday at a 2024 low of 0.4985 (2.0060) surpassing the Aug 2023 low of 0.5010 (1.9970). There is growing consensus that the RBA will start cutting rates from next February, we expect 50 points with a decline in recent consumer confidence and pending US/China tariff woes.

 

Current Level: 0.4980
Support: 0.4480
Resistance: 0.5115
Last week’s range: 0.4973- 0.5060

FX News

EURO/NZD Transfer

The 2024 average rate in the NZD/EUR cross is 0.5596.

The New Zealand Dollar (NZD) sits at the August low of 0.5490 (1.8220) against the Euro extending lows over the past couple of weeks. The has been tracking lower against some of the major currencies this week but not the kiwi. ECB’s Lagarde made mention that the ECB’s outlook on restrictive policy is no longer aligned with their changing landscape with inflation and risk balancing. Incoming data will dictate the speed of changing policy ahead. NZ GDP prints tomorrow and should formally take NZ back into recession with an expected growth in the 3rd quarter at -0.2%. We are expecting a push towards 0.5445 (1.8370)

Current Level: 1.8242
Resistance: 1.8360
Support: 1.8200
Last Weeks Range: 1.7969 – 1.8237