Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
Japan’s Katayama says DOGE Initiative to drive growth and fiscal sustainability under Takaichi
Japanese Finance Minister (FM) Satsuki Katayama said on Friday that the country's doge initiative is key for the Sanae Takaichi administration to pursue budget promoting growth while maintaining fiscal sustainability, Reuters reported.
Australian Dollar edges higher amid modest USD weakness; upside potential seem limited
The AUD/USD pair edges higher during the Asian session on Friday, looking to build on the overnight bounce from the lower boundary of the weekly range amid a softer US Dollar (USD). Spot prices, however, lack bullish conviction and currently trade above mid-0.6900s, up just over 0.10% for the day.
PBOC sets USD/CNY reference rate at 6.7330 vs. 6.7367 previous
The People’s Bank of China (PBOC) sets the USD/CNY central rate for the trading session ahead on Friday at 6.7330 compared to the previous day's fix of 6.7367 and 6.7973 Reuters estimate.
Euro holds gains above 1.1200 despite France's fiscal worries
The EUR/USD pair holds positive ground near 1.1215 during the early Asian trading hours on Friday. Nonetheless, the potential upside for the major pair might be limited amid fears of France’s debt crisis. The Michigan Consumer Sentiment Index data for October is due later on Friday.
Japan Overall Household Spending (YoY) came in at -3.1%, above forecasts (-3.6%) in August
Japan Overall Household Spending (YoY) came in at -3.1%, above forecasts (-3.6%) in August
Yen gains as Trump rules out Iran strikes before the midterms
The 10-year Treasury yield ended near 5.22% after President Trump said on Truth Social that the US won't attack Iran before the midterm elections. It had touched its highest since 2002 on Wednesday.
Australian Dollar slides as AI sell-off rattles Wall Street
The Aussie Dollar dives 0.11% on Thursday as the US Dollar retreats from monthly highs, with safe-haven flows shifting from the Greenback to the Japanese Yen and the Swiss Franc amid losses on Wall Street and US yields. The AUD/USD trades at 0.6960 at the time of writing.
Pound holds its floor as BoE member Greene presses for a hike
Bank of England (BoE) external member Greene said in Cape Town that it's dangerous to assume markets will do the BoE's work for it, and that UK pay awards look set for about 3.5% next year. She has voted for a hike at each of the last three meetings.
GBP/JPY Price Forecast: Struggles at 209.00 as bearish-engulfing looms
The GBP/JPY seesaws on Thursday, poised to end the session unchanged at 208.87, after prices traveled from the low of the day (LOD) of 208.20, towards a daily high of 209.40, before settling at around current levels.
Chinese Yuan: Upside bias within defined band against US Dollar – UOB
UOB strategists Quek Ser Leang and Lee Sue Ann describe USD/CNH as holding largely unchanged, but with a slight increase in downward momentum. Intraday, they see the bias tilted lower toward 6.6950, with resistance at 6.7055 and 6.7100 and a clear break below 6.6950 deemed unlikely. Over 1–3 weeks, they expect USD/CNH to trade between 6.6950 and 6.7270, while over 1–3 months they anticipate gradual downside as long as it stays below the cloud near 6.7815.
Mexican Peso dives on solid US data despite rising inflation
The Mexican Peso (MXN) depreciates about 0.91% against the US Dollar (USD) on Thursday amid positive US data, while Bank of Mexico (Banxico) minutes from last meeting indicated inflation edging higher, a trend confirmed by the September print.
Taiwan Dollar: Trade boom contrasts FX stability – ING
ING’s Lynn Song highlights Taiwan’s record trade performance, with the September surplus hitting US$23.6bn on a 60.9% year-on-year export surge, largely driven by tech-related machinery and electrical equipment. Despite strong exports, equities and foreign inflows, the Taiwan Dollar has remained relatively subdued, reflecting outward corporate investment, capital outflows due to yield differentials, and active FX stability measures by Taiwan’s central bank.
Malaysian Ringgit: Fiscal anchor case – MUFG
MUFG’s Lloyd Chan previews Malaysia’s Budget 2027, highlighting that prior fiscal reforms and subsidy rationalization provide a buffer against higher Oil prices.