Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Forex Today: US Dollar retreats alongside bond yields as mood improves
Here is what you need to know on Friday, October 9:
Indonesian Rupiah strengthens as Retail Sales expand in August
USD/IDR loses ground after two days of gains, trading around 17, 910 during Asian hours on Friday. The Indonesian Rupiah (IDR) remains stronger following the release of domestic Retail Sales data.
British Pound: Resilient growth supports more BoE hikes - Commerzbank
Volkmar Baur at Commerzbank highlights the UK economy’s resilient growth, with upward revisions to GDP and solid monthly data. With inflation still sticky and core inflation at 2.6%, he now expects the Bank of England to hike rates in November and again in February to 4.25%.
Euro picks up against British Pound with French debt, Oil prices still weighing
The Euro (EUR) trims losses against the British Pound (GBP) on Friday, as the bond rout eased, allowing for a mild risk appetite during the Asian session.
Euro: Recovery capped by resistance against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight that EUR/USD has bounced off recent lows near 1.1164 but downside momentum remains lacklustre. The Euro’s recovery is seen as constrained within 1.1190–1.1240 intraday, while the broader 1–3 week view still allows for a test of 1.1145 as long as strong resistance at 1.1265 holds and the oversold downtrend phase persists.
Sweden New Orders Manufacturing (YoY) increased to 5.1% in August from previous -0.5%
Sweden New Orders Manufacturing (YoY) increased to 5.1% in August from previous -0.5%
Sweden Industrial Production Value (YoY) climbed from previous 0.2% to 5.8% in August
Sweden Industrial Production Value (YoY) climbed from previous 0.2% to 5.8% in August
Sweden Industrial Production Value (MoM) up to 5.4% in August from previous -3.6%
Sweden Industrial Production Value (MoM) up to 5.4% in August from previous -3.6%
Norway Core Inflation (YoY) came in at 3%, below expectations (3.1%) in September
Norway Core Inflation (YoY) came in at 3%, below expectations (3.1%) in September
Norway Core Inflation (MoM) increased to 0.2% in September from previous -0.5%
Norway Core Inflation (MoM) increased to 0.2% in September from previous -0.5%
Norway Producer Price Index (YoY) remains at 30.1% in September
Norway Producer Price Index (YoY) remains at 30.1% in September
Norway Consumer Price Index (MoM) climbed from previous -0.3% to 0.5% in September
Norway Consumer Price Index (MoM) climbed from previous -0.3% to 0.5% in September
Norway Consumer Price Index (YoY) below expectations (3.6%) in September: Actual (3.4%)
Norway Consumer Price Index (YoY) below expectations (3.6%) in September: Actual (3.4%)