Market news

USD/JPY: Reverting to traditional risk-off patterns – MUFG

EUR/USD rises back above 1.0400 from multi-year lows as stocks soar

Turkey: Growth risks are clearly tilted to the upside - BBVA

US: Consumer Sentiment hit from everywhere – Wells Fargo

USD/CAD tumbles to 1.2920, trims weekly losses

WTI rallies for third straigth day into $109.00s amid risk-on flows, though still lower on the week

US: UoM Consumer Sentiment Index falls to 59.1 in May vs 64.0 expected, lowest since August 2011

United States Michigan Consumer Sentiment Index below expectations (64) in May: Actual (59.1)

USD/TRY picks up further pace and clinches new highs near 15.50

NZD/USD slides back closer to YTD low, around 0.6230 area amid fresh USD buying

Breaking: Gold briefly dips below $1800 for first time since early February

GBP/USD hits fresh near two-year lows in 1.2160s as bears eye move under 1.2000

EUR/USD Price Analysis: Next on the downside comes 1.0340

GBP/USD set to test the May 2020 low near 1.2075 – BBH

EUR/USD: Break of 1.0340 to open a return to parity – TDS

USD/JPY Price Analysis: Bulls looking to seize back control near 129.00 mark, 23.6% Fibo.

Gold Price Forecast: Raising concerns for recession amid sustained inflation to benefit XAUUSD – ANZ

Russia Central Bank Reserves $ fell from previous $593.1B to $592.1B

AUD/USD rebounds into upper 0.6800s in tandem with risk asset recovery, still down substantially on the week

US Dollar Index Price Analysis: Rising bets for extra gains

United States Export Price Index (YoY) below forecasts (21.4%) in April: Actual (18%)

United States Import Price Index (YoY) registered at 12%, below expectations (12.7%) in April

United States Import Price Index (MoM) below expectations (0.6%) in April: Actual (0%)

United States Export Price Index (MoM) came in at 0.6% below forecasts (0.7%) in April

USD/CAD hangs near daily low, around 1.3000 mark amid rising oil prices/softer USD

Gold Price Analysis: XAU/USD slides to $1810s, eyes annual lows after fourth successive weekly decline

GBP/JPY clings to recovery gains around 157.30 area, lacks bullish conviction

India FX Reserves, USD fell from previous $597.73B to $595.95B in May 6

EUR/JPY Price Analysis: Downside pressure seen alleviated above 138.30

US: Inflation remained hot in April – UOB

Philippines: Economy started the year on a strong note – UOB

EUR/USD: Bulls lack conviction above 1.0400

EUR/GBP sticks to intraday gains, flirts with daily high around 0.8525 region

Nomura senses strong BOJ policy shift as rate hike expectations build

China New Loans below forecasts (1515B) in April: Actual (645.4B)

China M2 Money Supply (YoY) came in at 10.5%, above forecasts (9.9%) in April

USD/CNH: Further upside could see 6.8500 retested – UOB

Ex-BOJ’s Yamamoto: The central bank should review its 2% price target

Gold Price Forecast: XAUUSD struggles near multi-month low, flat-lined around $1,820 area

Eurozone Industrial Production drops 1.8% MoM in March, beats estimates

European Monetary Union Industrial Production s.a. (MoM) came in at -1.8%, above expectations (-2%) in March

European Monetary Union Industrial Production w.d.a. (YoY) registered at -0.8% above expectations (-1%) in March

US Dollar Index looks offered around 104.60 as risk appetite improves

ECB's de Guindos: Don’t want to get sucked into July rate hike debate

GBP/USD needs to clear the 1.2250 hurdle to extend its recovery

GBP/USD consolidates the recovery above 1.2200 ahead of US data

USD/CHF slides back to 1.0000 mark amid weaker USD, downside seems limited

India Trade Deficit Government registered at $20.11B above expectations ($20.07B) in April

Hong Kong SAR Gross Domestic Product (QoQ) fell from previous 0.2% to -3% in 1Q

Hong Kong SAR Gross Domestic Product (YoY) dipped from previous 4.8% to -4% in 1Q

EUR/USD to extend its correction if it manages to stabilize above 1.04

Silver Price Analysis: XAG/USD recovers further from YTD low, climbs to $21.00 neighbourhood

USD/JPY pares intraday gains amid modest USD weakness, holds just above mid-128.00s

Platinum Price Analysis: XPT/USD fades bounce off 12-day-old support, $932 in focus

Turkey Industrial Production (YoY) above expectations (6.5%) in March: Actual (9.6%)

Spain HICP (MoM) came in at -0.3% below forecasts (-0.2%) in April

Spain HICP (YoY) meets forecasts (8.3%) in April

Spain Consumer Price Index (YoY) below forecasts (8.4%) in April: Actual (8.3%)

Spain Consumer Price Index (MoM) below expectations (-0.1%) in April: Actual (-0.2%)

GBP/USD: A move to 1.20 next week may be on the cards – ING

Forex Today: Modest improvement in market mood ahead of mid-tier data

EUR/CZK to remain below 25.00 heading into CNB's July meeting – ING

WTI holds above $105.00 despite progressing demand worries

EUR/USD: One step closer to parity – ING

France Consumer Price Index (EU norm) (MoM) in line with forecasts (0.5%) in April

France Inflation ex-tobacco (MoM) down to 0.4% in April from previous 1.4%

France Consumer Price Index (EU norm) (YoY) meets forecasts (5.4%) in April

USD/JPY to stabilize even without MOF intervention – Commerzbank

EUR/NOK: Norges Bank to up the tightening profile, supporting the krone – CIBC

NZD/USD: Oversold, set for gains in the second half of the year – CIBC

USD/RUB stays pressed around two-year low under 65.00 ahead of US/Russia statistics

UK’s Rees-Mogg Right response to inflation is tight monetary and constrained fiscal policies

USD/CAD to reach 1.31 before retracing towards 1.27 by year-end – CIBC

US dollar to stay on solid ground for now – CIBC

EUR/USD: Potential return to positive rates later this year to support euro – CIBC

FX option expiries for May 13 NY cut

NZD/USD shows exhaustion signs in the 0.6220-0.6260 area, US Michigan CSI eyed

USD/JPY: Selling pressure alleviated above 130.10 – UOB

Gold Price Forecast: XAU/USD’s falling wedge comforts buyers above $1,800, US data eyed

Natural Gas Futures: Rebound could extend further

Norway Gross Domestic Product Growth Mainland came in at -0.6% below forecasts (-0.5%) in 1Q

Norway Gross Domestic Product Growth above expectations (-1.3%) in 1Q: Actual (-1%)

USD/JPY set to challenge the 135.15 high – CIBC

GBP is looking quite oversold and undervalued at present – Crédit Agricole

AUD/USD: A test of 0.6800 now emerges on the horizon – UOB

Crude Oil Futures: Extra gains in the pipeline

EUR/GBP Price Analysis: Inverted Flag shouts more downside, pound bulls challenge 200-EMA

USD/CAD drops below 1.3000 as oil approaches weekly top, USD eases ahead of data

NZD/USD: Breach of key support at 0.6230 is a negative technical development – ANZ

Gold Price Forecast: XAUUSD technical setup points to a brief rebound in the near-term

GBP/USD: Support levels comes at 1.2140 ahead of 1.2100 – UOB

Gold Futures: Scope for further downside

EUR/USD risks a deeper decline below 1.0340 – UOB

AUD/USD struggles below 0.6900 as early Asian optimism dwindles, US data eyed

EUR/USD performs lackluster around 1.0400 on rising Fed’s tightening bets

GBP/USD Price Analysis: Recovery battles previous support below 1.2250

Asian Stock Market: Rebounds broadly on positive market mood, Fed signals more hikes

USD/INR Price News: Indian rupee rebound eyes 77.00 on easy DXY ahead of US data

USD/JPY looks to overstep 129.00 despite falling DXY, BOJ Kuroda promises more policy easing

BOJ's Kuroda: In times like now, central banks must conduct monetary policy without any preset idea

USD/CNH retreats from two-year high on softer USD, covid hopes, US data eyed

Gold Price Forecast: XAU/USD relief rally needs acceptance above key $1,836 level – Confluence Detector

Copper prices juggle around $4.10, downside remains favored on renewed demand worries

BOJ’s Kuroda: The central bank must continue monetary easing to achieve its price target

AUD/NZD Price Analysis: Keeps bounce off 100-SMA inside bull flag

Coronavirus Update: Shanghai aims to open up, ease traffic restrictions after mid-May

EUR/USD skates on thin ice below 1.0400 ahead of US Michigan Consumer Sentiment

Japan’s Suzuki: Weak yen is boost to exports but lead to higher prices for importers

Australia HIA New Home Sales (MoM) declined to -1.2% in April from previous 3.9%

AUD/USD Price Analysis: Bulls are moving in and eyes are on key structure

GBP/JPY Price Analysis: 100-DMA challenges recovery from two-month low

Japan’s Suzuki: Will continue to watch FX, price moves carefully

US Treasury yields, S&P 500 Futures stage rebound ahead of US Michigan Consumer Sentiment

USD/CNY fix: 6.7898 vs the last close of 6.7872

Gold Price Forecast: XAU/USD bulls have stepped in, hourly price action is bullish

USD/CHF turns sideways to 1.0020 as DXY steadies, Fed’s Powell warns more 50 bps rate hikes

USD/CAD Price Analysis: Pullback moves seek validation from 1.3000

US Dollar Index consolidates recent gains around 20-year high ahead of US data

AUD/JPY juggles in an 88.10-88.34 range as focus shifts to RBA meeting minutes

Currencies. Daily history for Thursday, May 12, 2022

USD/JPY Price Analysis: Recovery remains elusive below 129.50

EUR/JPY Price Analysis: Bulls moving in at a weekly demand area

AUD/USD: Corrective pullback eyes to regain 0.6900 ahead of RBA’s Bullock

EUR/USD Price Analysis: Seeks pullback to near 1.0400 after an intense sell-off

Japan Money Supply M2+CD (YoY) meets expectations (3.6%) in April

NZD/USD rebound approaches 0.6250 despite softer NZ data

WTI Price Analysis: Holds onto 50/21-DMA breakout around $105.00

USD/CAD struggles around 1.3050 as oil rebounds, Fed Powell warns for 50 bps rate hike spree

US inflation expectations drop to 11-week low

Silver Price Analysis: XAG/USD dribbles on the way to $19.70

New Zealand Business NZ PMI below expectations (52.8) in April: Actual (51.2)

GBP/USD pokes 1.2200 at two-year low as risk-aversion joins Brexit woes, softer UK data

USD/CHF Price Analysis: Overbought oscillators seek a pullback to near 1.0000

AUD/USD steady following sell-off to fresh cycle lows

Gold Price Forecast: XAU/USD sees a drop to near $1,800 as odds of a Fed’s bumper rate hike bolsters

Fed Powell says Fed will fix inflation, calls stable prices 'bedrock' of economy

Argentina Consumer Price Index (MoM) down to 6.2% in April from previous 6.7%

South Korea Import Price Growth (YoY) below forecasts (42.5%) in April: Actual (35%)

South Korea Export Price Growth (YoY) came in at 21.4%, below expectations (23.4%) in April

NZD/USD bears move in on a key 61.8% Fibo

Forex Today: Bye bye easy money, hello carry trade?

Fed's Daly: Debate between 50 bps-75 bps not a primary consideration

USD/JPY embarks on a significant correction below key daily support

EUR/USD takes on the lowest level since 2017, parity now eyed

Banxico hikes key rate by 50bps to 7%, peso firming

Gold Price Forecast: XAU/USD bears knocking on the door of critical daily support

Mexico Central Bank Interest Rate meets expectations (7%)

United States 30-Year Bond Auction increased to 2.997% from previous 2.815%

United States 4-Week Bill Auction climbed from previous 0.49% to 0.6%

GBP/USD: Pound under pressure as growth prospects deteriorate – CIBC

US Treasury Sec. Yellen: FSOC is concerned about the functioning of the Treasury market