Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
EUR/GBP Price Forecast: Rejection at 0.8500 leaves yearly low at 0.8455 exposedÂ
The Euro (EUR) extends losses against the British Pound (GBP) on Wednesday, on track to complete a nearly 1.6% decline in a nine-day losing streak.
China Foreign Exchange Reserves (MoM) above expectations ($0T) in September: Actual ($3.4T)
China Foreign Exchange Reserves (MoM) above expectations ($0T) in September: Actual ($3.4T)
Euro: Fiscal concerns limit recovery against US Dollar - Commerzbank
Commerzbank’s Antje Praefcke notes that concerns over France’s national debt have recently weighed on the Euro, reviving memories of the earlier sovereign debt crisis.
France Imports, EUR above expectations (€0B) in August: Actual (€60.3B)
France Imports, EUR above expectations (€0B) in August: Actual (€60.3B)
Switzerland Foreign Currency Reserves registered at 770.47B above expectations (0B) in September
Switzerland Foreign Currency Reserves registered at 770.47B above expectations (0B) in September
British Pound: Upside capped near 1.3315 against US Dollar – UOB
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann report that GBP/USD broke above their prior resistance level as the British Pound (GBP) outperformed on Tuesday, invalidating an earlier mildly bearish view.
Canadian Dollar loses ground ahead of FOMC Minutes
The USD/CAD pair gathers strength to around 1.4220 during the early European trading hours on Wednesday. All eyes will be on the Minutes of the Federal Open Market Committee (FOMC) later in the day for signals on a potential rate hike.
Japanese Yen: BoJ normalisation supports gains against US Dollar – MUFG
MUFG’s Michael Wan highlights that USD/JPY is still trading above 158, but Governor Ueda’s comments point to further Bank of Japan (BoJ) policy normalisation. Ueda stressed anchoring inflation around 2% and noted upside risks from imports, AI demand and JPY weakness.
Forex Today: US Dollar stabilizes as bond yields recover ahead of FOMC Minutes
Here is what you need to know on Wednesday, October 7:
France Trade Balance EUR registered at €-6.12B above expectations (€-6.5B) in August
France Trade Balance EUR registered at €-6.12B above expectations (€-6.5B) in August
France Current Account came in at €-1.5B, below expectations (€0B) in August
France Current Account came in at €-1.5B, below expectations (€0B) in August
France Exports, EUR above forecasts (€0B) in August: Actual (€54.176B)
France Exports, EUR above forecasts (€0B) in August: Actual (€54.176B)
Equities: Valuation reset underpins new highs – Danske Bank
Danske Research Team observes US equities extending their rebound, with the S&P 500 and Nasdaq posting fresh record highs and cyclical laggards leading gains. The team argues markets are not excessively optimistic, noting valuation multiples have compressed over the past year and quarter.