Market news

AUD/USD rises further to the 0.7270 area ahead of FOMC minutes

S&P 500 subdued under 4800 ahead of Fed minutes as growth to value rotation continues

Gold Price Forecast: XAU/USD hovers around $1820 after US ADP Employment data, Fed minutes eyed

United States EIA Crude Oil Stocks Change came in at -2.144M, above forecasts (-3.283M) in December 31

USD/TRY advances to 2-day highs near 13.6000

United States Markit Services PMI registered at 57.6 above expectations (57.5) in December

United States Markit PMI Composite came in at 57, above expectations (56.9) in December

USD/CAD trading flat just above 1.2700 level ahead release of minutes from hawkish December Fed meeting

USD/CAD: Downtrend remains intact but a test of 1.2750 in the short run is probable – Scotiabank

EUR/USD points to losses continuing after lengthy consolidation period – Scotiabank

USD/CAD to recover towards the 1.2950/3030 zone – Credit Suisse

Malaysia: Auspicious figures from Investment Approvals – UOB

EUR/USD pushes back above 1.1300 level, unfazed by hot US ADP report after hawkish ECB speak

USD/JPY set to test the downtrend from April 1990 at 116.80/85 – Credit Suisse

US Dollar Index remains under pressure, challenges 96.00

Canada New Housing Price Index (YoY) climbed from previous 11.5% to 11.7% in November

Canada Building Permits (MoM) above forecasts (2.3%) in November: Actual (6.8%)

Canada New Housing Price Index (MoM) below expectations (1.4%) in November: Actual (0.8%)

USD/JPY pares intraday losses, remains below 116.00 mark post-US ADP report

EUR/USD: Bearish continuation pattern is under construction – Credit Suisse

US: Private sector employment rises by 807K in December vs. 400K expected

United States ADP Employment Change came in at 807K, above expectations (400K) in December

EUR/USD Price Analysis: Further downside not ruled out

Gold Price Analysis: XAU/USD probing $1820, looking resilient ahead of US ADP data and Fed minutes

GBP/USD Price Analysis: Bulls flirt with 100-day SMA ahead of US ADP/FOMC minutes

US Dollar Index Price Analysis: A test of the 2021 remains on the cards

ECB's Kazaks: An early 2023 rate hike is a possibility, ECB ready to cut stimulus

EUR/JPY Price Analysis: Initial resistance turned up at 131.50

When is the US ADP jobs report and how could it affect EUR/USD?

China: PMIs improved in December – UOB

Mexico Consumer Confidence came in at 44.5, below expectations (44.9) in December

Mexico Consumer Confidence s.a declined to 44.9 in December from previous 45.9

United States MBA Mortgage Applications declined to -5.6% in December 24 from previous -0.6%

US lawmakers begin early talks about another round of COVID relief – WaPo

China's Premier Li: Will implement larger tax and fee cuts

AUD/USD Price Analysis: Bulls have the upper hand above one-month-old ascending trend-line

Germany 10-y Bond Auction climbed from previous -0.38% to -0.09%

US T-bond yields to hit new highs on strong ADP employment data – MUFG

Russia’s Novak: Will restore oil production by 85% in 2022

Spain 3-y Bond Auction increased to -0.392% from previous -0.513%

NZD/USD struggles for direction, stuck in a range around 0.6800 ahead of FOMC minutes

USD/TRY finds buyers at 21-DMA as lira remains vulnerable amid soaring inflation

Italy Consumer Price Index (YoY) meets expectations (3.9%) in December

Italy Consumer Price Index (EU Norm) (MoM) above expectations (0.3%) in December: Actual (0.5%)

Italy Consumer Price Index (EU Norm) (YoY) in line with forecasts (4.2%) in December

Italy Consumer Price Index (MoM) above forecasts (0.3%) in December: Actual (0.4%)

Indonesia: Higher upside pressure in inflation in December – UOB

EUR/USD clings to daily gains around 1.1300, looks to data, FOMC

GBP/USD needs to overcome 1.3560 resistance to extend its rally

Passive investors face tougher sledding as new year begins – Morgan Stanley

BOJ to slightly revise up next fiscal year's inflation forecast – Reuters

USD/JPY: A rally towards the 2017 high at 118.60 is on the cards – OCBC

EUR/GBP set to nosedive to the 0.82 level in the first half of 2022 – ING

10-year US T-bond yields to climb towards 1.92% on a move beyond 1.74% – SocGen

USD/JPY keeps the red below 116.00, downside seems limited ahead of FOMC minutes

USD/CNH sticks to the mixed outlook – UOB

EUR/USD to break to a new low in the first half of the year – ING

EUR/GBP: Break below 0.8300/0.8270 to open up 0.8220 – SocGen

European Monetary Union Markit PMI Composite registered at 53.3, below expectations (53.4) in December

European Monetary Union Markit Services PMI below expectations (53.3) in December: Actual (53.1)

FX option expiries for January 5 NY cut

Germany Markit Services PMI came in at 48.7, above forecasts (48.4) in December

Germany Markit PMI Composite registered at 49.9, below expectations (50) in December

USD/TRY: New year, old trends, risks skewed to the upside – Credit Suisse

France Markit PMI Composite registered at 55.8 above expectations (55.6) in December

France Markit Services PMI came in at 57, below expectations (57.1) in December

Italy Markit Services PMI below forecasts (54) in December: Actual (53)

US Dollar Index recedes from tops, back near 96.20 ahead of data

USD/CHF flirts with daily lows around mid-0.9100s, focus remains on US data/FOMC minutes

Spain Markit Services PMI below expectations (57.5) in December: Actual (55.8)

EUR/USD to have a tough time as euro fails to attract investors

Austria Wholesale Prices n.s.a (MoM) declined to -0.5% in December from previous 1%

Austria Wholesale Prices n.s.a (YoY) dipped from previous 16.6% to 15% in December

EUR/GBP: Four reasons to expect a stronger pound – Credit Suisse

USD/SGD to trade lower to 1.32 by end of Q2 2022 on MAS aggressive tightening – TDS

France Consumer Confidence came in at 100, above forecasts (97) in December

EUR/CHF to continue setting new lows in 2022 – Danske Bank

GBP/USD consolidates in a range around 1.3530-35 region, US data/FOMC minutes awaited

Three key consequences of high inflation variability – Natixis

USD/INR: Indian rupee set to suffer renewed weakness – TDS

NZD/USD: Strong economy and a central bank already hiking can help kiwi recover

USD/JPY: Next resistance comes at 116.50 – UOB

USD/CAD struggles to gain any meaningful traction, holds steady above 1.2700 mark

Natural Gas Futures: Room for a deeper drop – UOB

Gold Price Forecast: XAU/USD to see a pullback as a bull cross is in the making

Denmark Industrial Outlook remains at 6 in December

WTI Price Analysis: Battles 10-week-old resistance around $77.00

AUD/USD risks further downside near term – UOB

Forex Today: Markets turn cautious as focus shifts to FOMC Minutes

Crude Oil Futures: Scope for extra gains

AUD/USD remains on the defensive amid softer risk tone, holds comfortably above 0.7200

USD/CNH sellers attack $6.3750 against all odds, focus on US ADP, FOMC Minutes

GBP/USD seen consolidating in the 1.3370-1.3560 range – UOB

Gold Futures: Further upside could be losing momentum

Palladium Price Analysis: XPD/USD retreat eyes 200-SMA

EUR/USD faces further consolidation – UOB

Gold Price Forecast: XAU/USD keeps bounce off 200-DMA on softer yields, US ADP, Fed Minutes eyed

EUR/GBP Price Analysis: Rebounds to 0.8350 but not out of the woods yet

Asian Stock Market: S&P 500 Futures, China’s Evergrande entertain bears amid tepid sentiment

Japan Consumer Confidence Index in line with forecasts (39.1) in December

Singapore Retail Sales (YoY) fell from previous 7.5% to 1.9% in November

Singapore Retail Sales (MoM) rose from previous 0.7% to 2.5% in November

USD/JPY Price Analysis: Retests 116.00 on breaking weekly support but bulls stay hopeful

EUR/USD rebound pokes 1.1300 on softer yields ahead of US ADP, FOMC Minutes

GBP/USD struggles above 1.3500 amid Brexit mum, Omicron optimism, US data eyed

GBP/JPY Price Analysis: Pulls back towards 156.00 amid overbought RSI

China may adopt tougher tactics to arrest yuan gains – Reuters

Markets brace for volatility as Fed lift-off eyed – Morgan Stanley

Commodities. Daily history for Tuesday, January 4, 2022

USD/INR Price Analysis: Bears flag keeps Indian rupee buyers hopeful, 74.45 eyed

USD/CHF edges higher above 0.9150, focus on US ADP, FOMC Minutes

Silver Price Analysis: XAG/USD stays mildly offered near $23.00 inside weekly triangle

China Evergrande woes not over yet, as risk sentiment remains tepid

NZD/USD Price Analysis: Something here for both the bears and bulls

US Dollar Index tracks softer yields ahead of ADP Employment Change, FOMC Minutes

Schedule for today, Wednesday, January 5, 2022

USD/CNY fix: 6.3779 vs last close 6.3720

AUD/USD Price Analysis: Bulls running short of fuel below 0.7250

Ireland Purchasing Manager Index Services fell from previous 59.3 to 55.4 in December

New York Fed index: Global supply pressures may be nearing peak

US T-bond yields retreat from six-week high, S&P 500 Futures ease amid cautious sentiment

AUD/USD seen higher at 0.78 by December 2023 – Nomura

USD/TRY Price Analysis: Seesaws around 20-DMA, $14.00 appears key hurdle

Hong Kong SAR Nikkei Manufacturing PMI fell from previous 52.6 to 50.8 in December

Australia ANZ Job Advertisements: -5.5% (December) vs previous 7.4%

USD/CAD Price Analysis: Bears in charge, hourly support at 1.27 the figure needs to give

North Korea fired what could be a ballistic missile – Japan Coast Guard

USD/JPY seesaws near five-year top past 116.00 as yields dwindle ahead of US ADP, FOMC Minutes

Currencies. Daily history for Tuesday, January 4, 2022

Japan Monetary Base (YoY) below expectations (8.6%) in December: Actual (8.3%)

GBP/USD Price Analysis: Pullback remains elusive beyond 1.3465

WTI bulls attack $77.00 after OPEC+ JTC, API stockpile, focus on EIA inventories, US data

EUR/USD Price Analysis: Bear cross, support break back sellers below 1.1300

NZD/JPY Price Analysis: Tuesday’s rally closes to the double-bottom target at 80.00

AUD/USD struggles to keep recovery beyond 0.7200, US ADP, FOMC Minutes eyed

United States API Weekly Crude Oil Stock: -6.432M (December 31) vs previous -3.09M

Gold Price Forecast: XAU/USD bulls eye a run towards $1.820s

AUD/JPY surges above 84.00 on Tuesday as yen battered by global yield rally

South Korea FX Reserves below expectations (465.93B) in December: Actual (463.12B)

GBP/USD eases back from multi-week highs above 1.3550, remains well supported as Johnson keeps economy open

NZD/USD braces to 0.6800 amid higher US T-bond yields

AUD/USD Price Analysis: Bulls may have run their course, 0.7180, 0.7150 and 0.7100 eyed

USD/CAD back to 1.2700 level after bouncing at 50DMA, though loonie retains underlying strength as oil rises

Forex Today: Currencies trying to find their way

S&P 500 dips back under 4800 again as surging long-term bond yields hurt big tech and other growth stocks

GBP/JPY Price Analysis: Rallies sharply as bull’s eye 2021’s high at 158.22

USD/TRY Price Analysis: Bears buy TRY, supported on worsening opinion polls for Erdogan

Silver Price Analysis: XAG/USD jumped back above $23.00 despite surging US real yields, dead-cat bounce?

EUR/USD solid around 1.1290s as high US T-bond yields boost the greenback

EUR/GBP bears eye a break of 0.8330 to target weekly lows, 0.8280

UK Omicron: UK PM Johnson says we have a chance to ride out this Omicron wave without lockdowns

EUR/DKK: Significant FX intervention in December – Danske Bank

US ISM: Price pressures still extraordinarily high, but lower in December – Wells Fargo

USD/CHF Price Analysis: Found support in an upslope trendline remains steady around 0.9160s

USD/CAD hits fresh lows at 1.2666 and rebounds back above 1.2700

ECB's Villeroy: Inflation close to peaking in France and the Eurozone

Fed's Kashkari: Expects two rate hikes in 2022, warns about costs of high inflation

US Dollar Index Price Analysis: DXY dips back towards 96.00 as ISM survey highlights easing supply chain snags

Denmark Currency Reserves up to 529.8B in December from previous 481.5B