US Nonfarm Payrolls set to confirm continued labor market cooling as Fed rate cut hangs in balance
The United States (US) Bureau of Labor Statistics (BLS) releases the delayed Nonfarm Payrolls (NFP) data for September on Thursday at 13:30 GMT.
South Africa Consumer Price Index (MoM) fell from previous 0.2% to 0.1% in October
South Africa Consumer Price Index (MoM) fell from previous 0.2% to 0.1% in October
South Africa Consumer Price Index (YoY) climbed from previous 3.4% to 3.6% in October
South Africa Consumer Price Index (YoY) climbed from previous 3.4% to 3.6% in October
US Dollar Index hovers around 99.50 as Fed rate cut odds diminish
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding ground after a three-day winning streak and trading around 99.60 during the European hours on Wednesday.
Indonesia Bank Indonesia Rate in line with expectations (4.75%)
Indonesia Bank Indonesia Rate in line with expectations (4.75%)
Forex Today: Eyes on FOMC Minutes, Nvidia earnings
Here is what you need to know on Wednesday, November 19:
India Trade Deficit Government registered at $41.68B above expectations ($29.4B) in October
India Trade Deficit Government registered at $41.68B above expectations ($29.4B) in October
Gold Price Forecast: XAU/USD is looking for direction right below $4,100
Gold’s (XAU/USD) reversal from monthly highs near $4,250 hit last week has been contained above $4,040, but the precious metal is trading sideways on Monday with upside attempts capped below the $4,100 so far.
EUR/JPY consolidates as Yen benefits from GDP data, Euro aided by growth revision
EUR/JPY trades around 179.60 on Monday at the time of writing, virtually unchanged on the day after pulling back from last week’s multi-year high near 180.00.
EUR/USD: Likely to trade between 1.1595 and 1.1645 – UOB Group
The current price movements are likely part of a range-trading phase between 1.1595 and 1.1645.
GBP: Wild ride on the day – ING
It has been quite easy to lose track of the UK government’s messaging regarding November’s budget, ING’s FX analyst Chris Turner notes.
DXY: Supported by caution – OCBC
DXY was a touch firmer this morning. Market narrative has shifted towards concerns of what the backlog of US data may reveal about the US economy but at the same time, there is also rising caution that Fed may slow pace of rate cuts.
Oil: Novorossiysk resumes Oil shipments – ING
ICE Brent settled almost 1.2% higher last week after a Friday rally following a Ukrainian attack on the Russian port of Novorossiysk.
EUR: European Commission autumn forecasts in focus – ING
In focus on a quiet Monday will be the European Commission’s autumn forecasts. In spring, the EC downgraded the 2025 and 2026 euro area GDP forecasts to 0.9% and 1.4% respectively, with inflation at 2.5% and 1.7%.
ECB’s Vujčić: Market valuations are stretched
European Central Bank (ECB) policymaker Boris Vujčić said on Tuesday that risks are balanced around inflation, per Reuters.
EUR/JPY Price Forecast: Targets fresh record highs near 179.00 as bullish bias prevails
EUR/JPY extends its gains for the third consecutive session, trading around 178.40 during the European hours on Tuesday. The currency cross shows strong short-term momentum, trading above the nine-day Exponential Moving Average (EMA).
USD: Interest rate decisions in uncertain times – Commerzbank
While the financial markets were almost in a ‘celebratory mood’ in view of the looming end of the US government shutdown, EUR/USD remained flat yesterday. The price moved within a narrow range around the 1.1550 mark.
Gold sticks to gains near three-week high as Fed rate cut bets offset modest USD uptick
Gold (XAU/USD) sticks to modest intraday gains through the first half of the European session and currently trades just below a nearly three-week high touched this Tuesday.
PBOC sets USD/CNY reference rate at 7.0885 vs. 7.0867 previous
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.0885 compared to the previous day’s fix of 7.0867 and 7.1226 Reuters estimate.
NZD/USD extends the decline below 0.5700 on downbeat Chinese PMI data, Fed’s hawkish remarks
The NZD/USD pair attracts some sellers to around 0.5695 during the early Asian session on Tuesday. The New Zealand Dollar (NZD) weakens against the US Dollar (USD) as the latest data showed the Chinese manufacturing sector weakening last month.