Market news

US Manufacturing: Lack of supply remains large constraint – Wells Fargo

GBP/USD extends slide toward 1.2500 as US dollar strengthens

AUD/USD extends its fall below 0.7050 ahead of RBA’s interest rate decision

S&P 500 rebounds after printing fresh annual lows just above 4,100, with Fed and NFP in focus

US: ISM Manufacturing PMI falls to 55.4 in April versus 57.6 expected

United States ISM Manufacturing Prices Paid came in at 84.6 below forecasts (87.5) in April

United States ISM Manufacturing PMI below forecasts (57.6) in April: Actual (55.4)

United States Construction Spending (MoM) registered at 0.1%, below expectations (0.7%) in March

United States ISM Manufacturing New Orders Index came in at 53.5 below forecasts (57.7) in April

United States ISM Manufacturing Employment Index came in at 50.9 below forecasts (54.7) in April

US: Markit Manufacturing PMI falls to 59.2 (final) in April vs 59.7 flash estimate

Silver Price Analysis: XAG/USD plunges to multi-month low, fast approaching $22.00 mark

Gold Price Analysis: XAU/USD slides into $1850s, now down over 2.0% on the day

United States S&P Global Manufacturing PMI came in at 59.2 below forecasts (59.7) in April

German Economy Minister: Germany is not against an oil ban on Russia

EUR/USD Price Analysis: Scope for a move to 2022 low

Canada S&P Global Manufacturing PMI registered at 56.2, below expectations (57.9) in April

WTI slides back to mid-$101.00s amid China slowdown fears

EUR/USD accelerates losses and threatens 1.0500

USD/CAD: Limited scope for gains beyond the 1.29 level – Scotiabank

When is the US ISM Manufacturing PMI and how could it affect EUR/USD?

GBP/USD: Failure to climb back above 1.26 to pave the way towards 1.24 – Scotiabank

EUR/USD: Poised to break firmly under 1.05 in the near-term – Scotiabank

Brazil S&P Global Manufacturing PMI above expectations (51) in April: Actual (51.8)

USD/CAD Price Analysis: Climbs to fresh YTD top, descending trend-line breakout in play

Brazil Nominal Budget Balance: -22.545B (February) vs previous 84.1B

Chile IMACEC came in at 7.2%, above expectations (6.3%) in March

Brazil Primary Budget Surplus above expectations (-8.6B) in February: Actual (3.471B)

GBP/USD languishes in mid-1.2500s in holiday-thinned trade, as markets focus on Fed/BoE meetings

US Dollar Index Price Analysis: Room for a test of YTD highs

Gold Price Analysis: XAU/USD eyes last week’s lows at $1872 as focus turns to Wednesday’s Fed meeting

GBP/USD to tumble towards May 2020 low near 1.2075 – BBH

USD/JPY has the January 2002 high near 135.15 in its crosshairs – BBH

EUR/USD: Break below 1.0340 to pave the way toward parity – BBH

AUD/USD recovers further from multi-month low ahead of US ISM PMI, RBA in focus

EUR/JPY Price Analysis: Extra range bound on the cards

RBA Preview: Forecasts from 10 major banks, hotter inflation supports a rate lift-off

USD to strengthen further through this phase of 50bp rate hikes but beginning to overshoot – MUFG

European Monetary Union Business Climate: 1.98 (April) vs 1.67

Crude Oil to be quite volatile, trading in a fairly wide range of $90-$110 – BMO

USD/CHF struggles for a firm intraday direction, confined in a range below mid-0.9700s

Gold Price Forecast: XAUUSD to ignore Fed's 50bps rate hike – Commerzbank

GBP/USD: Fluctuations in the well-defined range seen as technical trading opportunities

EUR/USD struggles to gather recovery momentum

European Monetary Union Services Sentiment registered at 13.5, below expectations (14.2) in April

European Monetary Union Consumer Confidence registered at -22, below expectations (-16.9) in April

European Monetary Union Economic Sentiment Indicator came in at 105 below forecasts (108) in April

European Monetary Union Industrial Confidence came in at 7.9 below forecasts (9.5) in April

NZD/USD remains depressed below mid-0.6400s, hangs near its lowest level since June 2020

Austria Unemployment dipped from previous 261.9K to 254.8K in April

Austria Unemployment Rate declined to 6.1% in April from previous 6.3%

European Monetary Union S&P Global Manufacturing PMI registered at 55.5 above expectations (55.3) in April

Italy Unemployment registered at 8.3%, below expectations (8.4%) in March

Germany S&P Global/BME Manufacturing PMI above forecasts (54.1) in April: Actual (54.6)

France S&P Global Manufacturing PMI above expectations (55.4) in April: Actual (55.7)

GBP/USD recovers modest intraday losses, flat-lined below 1.2600 mark

Italy S&P Global Manufacturing PMI below forecasts (55) in April: Actual (54.5)

USD/CAD bulls struggle below 1.2900 as oil defends $103 on USD pullback ahead of PMI

EUR/USD looks optimistic around 1.0550, focuses on US, EMU data

Switzerland SVME - Purchasing Managers' Index above forecasts (61.5) in April: Actual (62.5)

Gold Price Analysis: XAUUSD rallies to have a limited life span – TDS

USD/CNY to enjoy a gradual advance towards 6.80 by year-end – TDS

Spain S&P Global Manufacturing PMI came in at 53.3 below forecasts (54) in April

PLN/HUF set to hit an all-time high at the 84 mark – TDS

AUD/USD bounces off three-month low amid pre-Fed, RBA anxiety, US PMI eyed too

EUR/PLN to fall back towards 4.50 by year-end – TDS

US Dollar Index resumes the upside above 103.00 ahead of key data

Switzerland SECO Consumer Climate (3m) fell from previous -3.6 to -27.4 in 2Q

Netherlands, The Markit Manufacturing PMI climbed from previous 58.4 to 59.9 in April

Gold Price Forecast: XAUUSD to suffer on hints of 75 rate hikes from the Fed

USD/JPY sticks to gains amid broad-based USD strength, remains below mid-130.00s

Forex Today: Busy week starts with EU sentiment and US PMI data

AUD/NZD: Scope for a push towards 1.14 – Westpac

AUD/USD: RBA to support the aussie if sends out hawkish signals – Commerzbank

Australia RBA Commodity Index SDR (YoY) came in at 39.9% below forecasts (49.7%) in April

EUR/USD to reach levels around parity on a energy-related recession in Europe – Commerzbank

Asian Stock Market: Pre-Fed cautious, growth fears weigh on sentiment

Sweden Purchasing Managers Index Manufacturing (MoM) registered at 55, below expectations (58.6) in April

Natural Gas Futures: Rebound expected to persist

FX option expiries for May 2 NY cut

WTI steadies around $103.00 as growth worries in China offset Europe’s embargo concerns

German Retail Sales drop 2.7% YoY in March vs. 7.0% previous

Germany Retail Sales (MoM) below forecasts (0.3%) in March: Actual (-0.1%)

Germany Retail Sales (YoY) fell from previous 7% to -2.7% in March

Gold Price Forecast: XAUUSD to sustain additional losses on a break below 100-DMA at $1,878

Crude Oil Futures: Scope for extra pullbacks

USD/CAD Price Analysis: Bulls look firmer above the trendline, 1.2960 eyed

Gold Futures: Further losses not ruled out

EUR/GBP Price Analysis: Further downside hinges on 0.8365 break

Japan Consumer Confidence Index below forecasts (33.9) in April: Actual (33)

EUR/USD approaches 1.0500 as anxiety over Fed’s rate hike sours market mood

GBP/USD: Mildly offered around 1.2550 as traders await Fed, BOE

Coronavirus Update: Beijing imposes a raft of new restrictions, as Shanghai cases ease

USD/JPY recovers its intraday losses, DXY strengthens ahead of hawkish Fed

USD/INR Price Analysis: Rupee regains 76.50 even as India’s active covid cases jump to six-week high

AUD/USD Price Analysis: Looks to test yearly lows at 0.6970

USD/KRW falls after S. Korea says rapid FX rate changes are a problem

RBA to hike OCR by 15bps to 0.25% on Tuesday – Scotiabank

GBP/JPY Price Analysis: Friday’s Doji, 21-DMA challenge recovery above 163.00

EUR/USD justifies downbeat risk reversal as sellers approach 1.0500

NZD/USD Price Analysis: Weekly support and M-formation could see the bulls back in control

Silver Price Analysis: XAG/USD renews three-month low under $23.00, RSI probes further downside

South Korea Trade Balance below forecasts ($-1.059B) in April: Actual ($-2.66B)

South Korea S&P Global Manufacturing PMI above expectations (51) in April: Actual (52.1)

Australia ANZ Job Advertisements declined to -0.5% in April from previous 0.4%

S&P 500 Futures turn pale above 4,100 as US Treasury yields stay firmer ahead of Fed, NFP

USD/JPY Price Analysis: Eyes another battle with 130.30 hurdle

AUD/JPY skids below 92.00 on hawkish RBA bets

Australia S&P Global Manufacturing PMI registered at 58.8 above expectations (57.9) in April

Japan Jibun Bank Manufacturing PMI registered at 53.5 above expectations (53.4) in April

US Dollar Index struggles to defend 103.00 as traders brace for Fed, NFP

Currencies. Daily history for Friday, April 29, 2022

USD/CHF finds offers around 0.9740 as DXY steadies, investors await Fed’s policy

Australia AiG Performance of Mfg Index climbed from previous 55.7 to 58.5 in April

WTI Price Analysis: Buyers return from $102.60 support confluence

USD/CAD struggles to breach 1.2860 ahead of PMI data, Fed remains in the spotlight

AUD/USD dribbles around mid-0.7000s on mixed PMIs, focus on RBA, Fed

EUR/USD retreats towards 1.0500 amid anxiety over ECB vs. Fed action

GBP/USD opens flat at around 1.2580, focus shifts on Fed-BOE policy meet

NZD/USD stays pressured at yearly low surrounding 0.6450, focus on NZ jobs report, Fed

Gold Price Forecast: XAUUSD sees a reversal to near $1,890 ahead of US PMI, Fed’s policy in focus

USD/JPY bears have moved in ahead of the big day, the Fed

AUD/USD Price Analysis: Bears on the prowl but US dollar stumbles

China's purchasing managers indices fell deeper into contraction in April

EU is set to propose phasing out Russian oil by the end of the year