Market news

USD can strengthen further against G10 and emerging market currencies – Wells Fargo

AUD/USD: Aussie bulls may need to be patient – CIBC

NZD/USD trims losses, heads for the lowest close since June 2020

USD/CAD consolidates above 1.3000, eyes 18-month highs above 1.3050 amid buoyant buck

WTI rebounds into the green, now trading in mid-$106.00s despite ugly macro backdrop

United States EIA Natural Gas Storage Change came in at 76B below forecasts (79B) in May 6

CAD to benefit from its status as commodity currency and active stance of the BoC – Commerzbank

Gold Price Forecast: XAUUSD in trouble amid substantial selling flow – TDS

USD/JPY Price Analysis: Plunges to mid-127.00s, over two-week low amid risk-off

EUR/USD Price Analysis: Scope for a visit to the 2017 low at 1.0340

Silver Price Analysis: XAG/USD consolidates above $21.00 after hitting lowest since July 2020

US Dollar Index Price Analysis: Rally could now extend to 105.00

AUD/USD Price Analysis: Remains vulnerable, bears might aim to test 0.6800 mark

United Kingdom NIESR GDP Estimate (3M) came in at 0.3%, below expectations (1%) in April

US: Weekly Initial Jobless Claims rise slightly to 203K vs. 195K expected

United States Producer Price Index ex Food & Energy (MoM) below forecasts (0.6%) in April: Actual (0.4%)

US: Annual PPI falls to 11.0% in April vs. 10.7% expected

United States Producer Price Index (YoY) came in at 11%, above expectations (10.7%) in April

United States Producer Price Index ex Food & Energy (YoY) below expectations (8.9%) in April: Actual (8.8%)

United States Producer Price Index (MoM) meets forecasts (0.5%) in April

United States Continuing Jobless Claims below expectations (1.38M) in April 29: Actual (1.343M)

United States Initial Jobless Claims came in at 203K, above expectations (195K) in May 6

United States Initial Jobless Claims 4-week average: 192.75K (May 6) vs 188K

Gold Price Analysis: XAU/USD dips back to low $1,840s given bullish buck, but holding above 200-DMA for now

GBP/USD struggles near its lowest level since May 2020, keeps the red below 1.2200

India Industrial Output registered at 1.9% above expectations (1.7%) in March

India Manufacturing Output up to 0.9% in March from previous 0.8%

India Cumulative Industrial Output registered at 11.3%, below expectations (13.7%) in March

Breaking: EUR/USD slumps under 1.0400 with Russia tensions in focus

EUR/JPY Price Analysis: Next on the downside comes 133.87

Brexit News: UK PM Johnson Spokesperson says no final decision on Northern Ireland Protocol taken

South Africa Manufacturing Production Index (YoY) came in at -0.8%, above forecasts (-0.9%) in March

Mexico Industrial Output (YoY) registered at 2.6% above expectations (2.1%) in March

Mexico Industrial Output (MoM) below forecasts (0.7%) in March: Actual (0.4%)

China: Inflation accelerated in April – UOB

ECB’s Makhlouf: ECB rates likely to be in positive territory by early next year

USD/CAD flirts with YTD top, around mid-1.3000s amid weaker oil prices/sustained USD buying

Ireland HICP (YoY) climbed from previous 6.9% to 7.3% in April

Ireland Consumer Price Index (YoY): 7% (April) vs 6.7%

Ireland HICP (MoM) fell from previous 2.1% to 0.9% in April

Ireland Consumer Price Index (MoM): 0.9% (April) vs previous 1.9%

Copper price tumbles 4% to threaten $4 mark on demand fears

EUR/USD sinks to 5-year lows in the 1.0420 region, risk aversion resurfaces

EUR/GBP to trade higher in the course of the year – Commerzbank

GBP/USD to extend its slide unless it reclaims 1.22

Gold Price Forecast: XAUUSD struggles for a firm direction, stuck in a range around $1,850

GBP/USD Price Analysis: Ascending triangle breakdown on 4H targets 1.2158

USD/CNH: Still room for a move to 6.8000 – UOB

ECB's Kazimir: Ready to hike in July

AUD/USD consolidates its recent slump to a near two-year low, remains below 0.6900 mark

AUD/USD could sink as far as 0.6760 – Westpac

WTI drops over 2% to test $101.50 as risk-aversion intensifies

US Dollar Index: Break of 104 opens the door to a run at 20-year highs near 107 – Westpac

NZD/USD could fall as low as 0.61 – Westpac

UK’s Sunak: Ready to do more to support households

USD/JPY: Break below 128.50 to warn of near-term correction risks – Westpac

EUR/USD: At risk of further declines to retest 2017 lows at 1.0350/40 – Westpac

GBP/USD: Poised to challenge the 1.21 level – Westpac

IEA revises down oil demand growth projections for 2022 by 70,000 bpd

US dollar to enjoy further grinding gains – ING

EUR/USD to grind lower towards the next big support at 1.0350 – ING

USD/JPY: Further consolidation looks likely – UOB

GBP/USD to extend its decline toward the 1.20 mark – ING

USD/JPY weakens further below 129.00 mark, over two-week low amid risk-off

US Dollar Index pushes higher and reaches new cycle peaks near 104.50

Breaking: EUR/USD dives to its lowest level since January 2017, below mid-1.0400s

China FDI - Foreign Direct Investment (YTD) (YoY): 20.5% (April) vs previous 25.6%

Gold Price Forecast: XAU/USD rebounds from $1,850 as yields probe USD bulls ahead of US PPI

Low metals supply could support prices – Danske Bank

Forex Today: Dollar rally picks up steam on risk-aversion ahead of PPI data

USD/CAD: Break above 1.3024/43 resistance zone to set the pace for further gains – DBS Bank

BOE’s Ramden: The central bank isn’t talking down the economy in forecasts

Brent Crude Oil to hit the $120 level by Q3 – ANZ

GBP/JPY slides further below 158.00 mark, lowest since March 22 on weaker UK macro data

FX option expiries for May 12 NY cut

EUR/SEK: Krona to regain some ground on hot Swedish inflation data – Commerzbank

EUR/GBP Price Analysis: Pierces 78.6% Fibo to refresh seven-month high on downbeat UK GDP

Switzerland Producer and Import Prices (YoY) registered at 6.7% above expectations (5.8%) in April

Switzerland Producer and Import Prices (MoM) registered at 1.3% above expectations (0.1%) in April

USD strength depends on how bad inflation happens to be when the Fed acts – Commerzbank

Negative surprise in UK GDP to put depreciation pressure on sterling – Commerzbank

Japan’s Suzuki: Russia’s invasion of Ukraine having a serious impact on regional economies

NZD/USD: Still scope for a drop to 0.6245 – UOB

GBP/USD drops to fresh two-year low under 1.2200 on softer UK GDP, US PPI eyed

UK Manufacturing Production drops 0.2% MoM in March vs. 0% expected

United Kingdom Total Trade Balance down to £-11.552B in March from previous £-9.261B

United Kingdom Gross Domestic Product (YoY) registered at 8.7%, below expectations (9%) in 1Q

United Kingdom Total Business Investment (YoY) climbed from previous 1% to 8.5% in 1Q

United Kingdom Total Business Investment (QoQ) declined to -0.5% in 1Q from previous 1%

United Kingdom Total Business Investment (QoQ) rose from previous 1% to 8.5% in 1Q

United Kingdom Index of Services (3M/3M) below forecasts (2%) in March: Actual (0.4%)

Breaking: UK Preliminary GDP expands 0.8% QoQ in Q1 vs. 1.0% expected

United Kingdom Trade Balance; non-EU came in at £-13.804B below forecasts (£-9.568B) in March

United Kingdom Goods Trade Balance came in at £-23.897B, below expectations (£-18.5B) in March

United Kingdom Manufacturing Production (YoY) came in at 1.9% below forecasts (2.3%) in March

United Kingdom Manufacturing Production (MoM) below forecasts (0%) in March: Actual (-0.2%)

United Kingdom Industrial Production (YoY) came in at 0.7%, above expectations (0.4%) in March

United Kingdom Industrial Production (MoM) below forecasts (0.1%) in March: Actual (-0.2%)

United Kingdom Gross Domestic Product (QoQ) came in at 0.8%, below expectations (1%) in 1Q

Sweden Consumer Price Index (MoM) came in at 0.6%, above forecasts (0.5%) in April

Sweden Consumer Price Index (YoY) came in at 6.4%, above forecasts (6.1%) in April

United Kingdom Gross Domestic Product (MoM) below forecasts (0.1%) in March: Actual (-0.1%)

ECB to soon start swift normalisation, putting a floor under euro depreciation – ANZ

Four factors worsening the starting point of the French economy for the period 2022-2027 – Natixis

AUD/USD Price Analysis: Renews 23-month low with eyes on 0.6815

Gold Price Forecast: XAUUSD poised for a sustained move below the 200-DMA at $1,836

USD/CAD looks to recapture 1.3050 as oil eases and DXY strengthens

Natural Gas Futures: Rebound could be losing momentum

Crude Oil Futures: Extra gains not ruled out

EUR/USD defends 1.0500 on easing calls of ECB vs. Fed divergence, focus on US PPI

GBP/USD could breach the 1.2200 near term – UOB

Gold Futures: Door open to further gains

USD/IDR consolidates above 14,570 on poor Indonesian Retail Sales, US PPI in focus

Japan Eco Watchers Survey: Outlook above expectations (47.4) in April: Actual (50.3)

EUR/USD risks a deeper pullback below 1.0470 – UOB

Japan Eco Watchers Survey: Current came in at 50.4, above expectations (42.9) in April

When is the UK Q1 GDP and how could it affect GBP/USD?

NZD/USD Price Analysis: Refreshes two-year low near 0.6250 inside monthly falling channel

Asian Stock Market: Inflation, covid woes weigh underpin bearish bias

USD/CNH renews 19-month high even as China policymakers signal measures to uplift economy

Gold Price Forecast: XAU/USD tumbles to near $1,850 as DXY rebounds, US PPI eyed

USD/INR Price News: Rupee bears await India inflation near record top surrounding 77.50

PBOC’s Chen: Will boost financial support for the real economy

EU’s von der Leyen thanks Japan diverting LNG supplies to Europe 'at a most serious time'

EU’s Michel: Japan is the Union’s closest strategic partner in Asia

RBNZ Survey: NZ inflation expectations rise in Q2, Kiwi unmoved

New Zealand RBNZ Inflation Expectations (QoQ) rose from previous 3.27% to 3.29% in 2Q

Premier Li “helping press China’s authoritarian leader” Xi to improve the economy – WSJ

South Korea Money Supply Growth registered at 8.5%, below expectations (10.2%) in March

EUR/USD Price Analysis: Struggles to overstep 50-EMA, hopes of fresh five-year lows renew

EUR/GBP renews seven-month high near 0.8600 on hawkish ECBspeak, UK GDP eyed

Japan, China, South Korea caution about fallouts from Russia-Ukraine war

GBP/USD dribbles around 1.2250 amid upbeat options market, pre-UK GDP anxiety

Coronavirus Update: Shanghai’s community outbreak tempers reopening hopes

GBP/JPY Price Analysis: Off seven-week low to regain 159.00 but not out of the woods

NZD/USD Price Analysis: Bears eye break of daily support for a run to weekly demand area, 0.6150/80s

S&P 500 Futures rebound from yearly low, yields eye first weekly loss in 10 amid mixed clues

AUD/USD struggles to defend 0.6900 despite upbeat Aussie Consumer Inflation Expectations

USD/CNY fix: 6.7292 vs. the last close of 6.7236

GBP/USD to test 1.2260, downside remains favored on higher US CPI, UK GDP eyed

Australia Consumer Inflation Expectations above forecasts (4.8%) in May: Actual (5%)

Gold Price Forecast: XAU/USD bulls cheer softer yields to approach $1,885 hurdle

BoJ Summary of Opinions: Must continue to support the economy with current powerful monetary easing

US Dollar Index Price Analysis: DXY retreats from 104.00, rising wedge eyed

AUD/JPY tumbles below 90.00 on souring market mood

AUD/NZD Price Analysis: Last ditch effort from the bears to crack 1.10 the figure, bulls eye fresh highs

USD/JPY tracks downbeat yields to drop further below 130.00

Currencies. Daily history for Wednesday, May 11, 2022

WTI Price Analysis: Consolidation with a mild positive bias indicates an upside to near $110.00

USD/CAD treads water around 1.3000 as oil bulls take a breather amid mixed clues

EUR/USD bulls stick with it but under pressure in the bear's lair

Japan Trade Balance - BOP Basis above forecasts (¥-342B) in March: Actual (¥-166.1B)

Japan Bank Lending (YoY) above expectations (0.4%) in April: Actual (0.9%)

Japan Current Account n.s.a. registered at ¥2549.3B above expectations (¥1752.3B) in March

Japan Foreign Bond Investment rose from previous ¥-1155.6B to ¥-823.1B in April 29

Japan Foreign Investment in Japan Stocks down to ¥81.2B in April 29 from previous ¥595.1B

Silver Price Analysis: XAG/USD fades recovery inside bearish pennant, $22.00 in focus

GBP/JPY establishes below 160.00 as investors await UK GDP

AUD/USD stays defensive near 0.6950, Aussie Consumer Inflation Expectations eyed

United Kingdom RICS Housing Price Balance above forecasts (70%) in April: Actual (80%)

USD/CHF advances towards 1.0000 ahead of US PPI

GBP/USD Price Analysis: Bears running out of steam ahead of UK GDP

New Zealand Food Price Index (MoM) came in at 0.1%, above forecasts (-0.1%) in April

New Zealand Visitor Arrivals (YoY) rose from previous -1.2% to 517% in March

NZD/USD steadies around 0.6300 ahead of RBNZ inflation expectations

Gold Price Forecast: XAU/USD freezes around $1,850 on strong US CPI, DXY stable above 104.00

USD/CAD Price Analysis: 1.29 the figure eyed if bears crack the 1.2950s

USD/JPY sees an establishment above 130.00 as higher US CPI bolsters jumbo Fed rate hike

EUR/USD Price Analysis: Bears lurking near to cycle lows, breakout on the cards?

NZ Finmin Robertson: New Zealand's short-term inflation challenge is significant

Fed's Bullard: April inflation was “hot” but not far from what was expected

AUD/USD bears stay in control below critical daily resistance, Wall Street investors hitting the bid

Forex Today: Dollar bulls cheer US inflation figures

GBP/USD falls back to its knees as risk sentiment in US session crumbles

Gold Price Forecast: XAU/USD bears firming at critical 38.2% Fibo daily resistance

United States Monthly Budget Statement above forecasts ($226B) in April: Actual ($308B)

United States 10-Year Note Auction climbed from previous 2.72% to 2.943%

USD/MXN Price Analysis: Strong barrier around 20.45 intact