Market news

WTI drops to fresh daily lows under $79.50 despite bullish inventory report

USD/MXN Price Analysis: In a higher range, looking at 20.90

United States EIA Crude Oil Stocks Change came in at -2.101M, below expectations (1.398M) in November 12

EUR/SEK to move gradually lower towards 9.65 by end-2022 – ING

EUR/NOK to move downward to 9.50 as the krone surfs a bright wave – ING

USD/JPY retreats from 115.00 amid flat US bond yields, USD bulls take a breather

EUR/GBP falls back under 0.8400, prints fresh 21-month lows, as hot UK inflation weighs

USD/CLP to push higher towards 875/900 – ING

USD/BRL to rise towards 6.00 as the policy mix heads in the wrong direction – ING

EUR/JPY remains depressed and below 130.00

ECB's Schnabel: Rise in inflation expectations is a welcome development

USD/CAD to stay closer to 1.20 rather than to 1.25 in 2022 – ING

BoE's Mann: We think core goods inflation will moderate in 2022

EUR/USD set to dive below the 1.1270 support – Scotiabank

GBP/USD: Early BoE tightening to provide the pound with a cushion – ING

Gold Price Forecast: XAU/USD to suffer a near-term slippage ahead of further gains – Commerzbank

EUR/USD to soften through 2022 towards 1.10 – ING

ECB's Schnabel: Economic activity globally and in the Eurozone has started to moderate

USD/CAD jumps to 1.2600 neighbourhood, fresh weekly top

EUR/USD Price Analysis: Next support of note comes at 1.1185

Canada Consumer Price Index - Core (MoM) declined to 0.2% in October from previous 0.4%

Canada: Annual CPI rises to 4.7% in October vs. 4.7% expected

Canada BoC Consumer Price Index Core (YoY) above forecasts (3.5%) in October: Actual (3.8%)

United States Building Permits (MoM) came in at 1.65M, above expectations (1.638M) in October

Canada BoC Consumer Price Index Core (MoM) above forecasts (0.4%) in October: Actual (0.6%)

US: Housing start fell by 0.7% in October, Building Permits rise by 4.0%

Canada Consumer Price Index (YoY) meets forecasts (4.7%) in October

Canada Consumer Price Index (MoM) in line with expectations (0.7%) in October

United States Building Permits Change above forecasts (-3.5%) in October: Actual (4%)

United States Building Permits (MoM) registered at 1.52M, below expectations (1.638M) in October

United States Housing Starts Change below expectations (0.6%) in October: Actual (-0.7%)

United States Housing Starts (MoM) came in at 1.52M below forecasts (1.576M) in October

USD/CHF to trend higher towards 0.9356/70 on a break above 0.9322/30 – Credit Suisse

Gold Price Forecast: XAU/USD recovers overnight losses, climbs to $1,865 area

Turkish State Energy firm to tap CBRT forex reserves to limit TRY losses - Reuters

AUD/USD continues to languish under 0.7300 as weak Aussie wage growth supports RBA dovishness

USD/CHF surrenders intraday gains to multi-week highs, flat-lined around 0.9300

US Dollar Index Price Analysis: Extra upside seems likely

EUR/JPY Price Analysis: Initial support emerged around 129.40

United States MBA Mortgage Applications declined to -2.8% in November 12 from previous 5.5%

GBP/USD eases from one-week highs, up little below mid-1.3400s

India M3 Money Supply increased to 11% in November 5 from previous 9.7%

USD/TRY moves to fresh all-time tops near 10.6000 as lira collapses

South Africa Retail Sales (YoY) above expectations (-0.2%) in September: Actual (2.1%)

EUR/GBP: Sustained break of 0.8402 to trigger a fall towards 0.8281/39 – Credit Suisse

Palladium Price Analysis: XPD/USD to extend its race higher on a breach of October high at $2,207 – Commerzbank

Germany 30-y Bond Auction declined to 0.08% from previous 0.35%

Germany's Merkel: Coronavirus situation is dramatic

USD/JPY consolidates recent gains to multi-year peak, below 115.00 mark

US 10-year Yields to reach new year highs and hit 2.00% in early 2022 – Credit Suisse

Greece Unemployment Rate (MoM) declined to 13% in September from previous 13.9%

Eurozone final CPI revised higher to 0.8% MoM in October

European Monetary Union Construction Output w.d.a (YoY) climbed from previous -1.6% to 1.5% in September

European Monetary Union Consumer Price Index (MoM) meets forecasts (0.8%) in October

European Monetary Union Construction Output s.a (MoM) climbed from previous -1.3% to 0.9% in September

European Monetary Union Consumer Price Index - Core (MoM) meets forecasts (0.3%) in October

European Monetary Union Consumer Price Index (YoY) in line with expectations (4.1%) in October

European Monetary Union Consumer Price Index - Core (YoY) below expectations (2.1%) in October: Actual (2%)

Natural Gas to climb as high as 6.10 on a break above 5.39 – SocGen

European Monetary Union Consumer Price Index (MoM) came in at 0.3%, below expectations (0.8%) in October

EUR/USD bounces off new 2021 lows near 1.1260 ahead of ECB

USD/CAD remains confined in a range around mid-1.2500s, Canadian CPI awaited

Gold Price Forecast: XAU/USD eyes $1,869 and $1,873 on road to recovery – Confluence Detector

United Kingdom DCLG House Price Index (YoY) rose from previous 10.6% to 11.8% in September

ECB: Improved economic conditions have reduced near-term tail risks to financial stability

USD/JPY to lurch higher towards the 117.10 mark – SocGen

EUR/HUF: Break of key resistance at 369.20/369.50 to open up the upside – SocGen

Gold Price Forecast: XAU/USD to struggle to rally on a peak in inflation expectations – Credit Suisse

USD/JPY set to reach the 117.00 by year-end – MUFG

Italy Global Trade Balance increased to €2.454B in September from previous €1.316B

Italy Trade Balance EU: €0.762B (September) vs €-0.281B

Brexit News: UK’s Frost says N. Ireland Protocol deal ‘can be done’ with EU before Christmas

NZD/USD clings to gains near daily highs, around 0.7015-20 region

WTI looks vulnerable near $79 mark, ignores Iran news, demand optimism

EUR/USD: Room for further EUR selling in the month ahead – MUFG

USD/JPY set to advance nicely towards the 117.00 level – Credit Suisse

EUR/CHF set to rebound from the key 1.0510/00 support – Credit Suisse

US Dollar Index turns negative after clinching new cycle highs past 96.00

AUD/USD: Break below 0.6991 to introduce scope for a dive to 0.6758 – Credit Suisse

EUR/JPY: Break above June peak of 134.12 to clear the way towards 2018 high at 137.51 – Commerzbank

French FinMin Le Maire: Current inflation is temporary

GBP/USD: On course for an eventual fall to a cluster of supports at 1.3189/35 – Credit Suisse

GBP/JPY pares stronger UK CPI-inspired gains to two-week tops

EUR/JPY: Strong hint of bullish intentions, further gains ahead – DBS Bank

USD/IDR: Rupiah to strengthen gradually towards 14,000 – Credit Suisse

South Africa Consumer Price Index (MoM) meets forecasts (0.2%) in October

South Africa Consumer Price Index (YoY) meets forecasts (5%) in October

Austria HICP (YoY): 3.7% (October) vs 3.3%

Austria HICP (MoM) declined to 0.7% in October from previous 0.9%

EUR/GBP to trend slightly lower over 2022 – Rabobank

USD/TRY: Lira to remain subject to depreciation pressure even if CBRT stays on hold – Credit Suisse

EUR/GBP slides below 0.8400, lowest since February 2020 on stronger UK CPI

Three reasons why the return on equity for shareholders will decline – Natixis

USD/JPY: New four-year highs, the 119.41 downtrend from 1975 is in its crosshairs – Commerzbank

EUR/USD to suffer a substantial drop to 1.1020/00 – Credit Suisse

AUD/USD recovers from multi-week lows, back around 0.7400 mark

GBP/USD spikes to one-week highs and retreats, steadies near mid-1.3400s post-UK CPI

Gold Price Forecast: XAU/USD eyes another run towards $1,900

United Kingdom Retail Price Index (YoY) above forecasts (5.7%) in October: Actual (6%)

United Kingdom Retail Price Index (MoM) above forecasts (0.8%) in October: Actual (1.1%)

United Kingdom Core Consumer Price Index (YoY) came in at 3.4%, above expectations (3%) in October

United Kingdom PPI Core Output (YoY) n.s.a in line with expectations (6.5%) in October

United Kingdom PPI Core Output (MoM) n.s.a in line with forecasts (0.7%) in October

United Kingdom Producer Price Index - Output (YoY) n.s.a registered at 8% above expectations (7.3%) in October

Breaking: UK annualized CPI beats estimates with 4.2% in October, GBP/USD jumps towards 1.35

United Kingdom Consumer Price Index (YoY) came in at 4.2%, above expectations (3.9%) in October

United Kingdom Consumer Price Index (MoM) above expectations (0.8%) in October: Actual (1.1%)

United Kingdom Producer Price Index - Input (MoM) n.s.a above expectations (1.1%) in October: Actual (1.4%)

United Kingdom Producer Price Index - Input (YoY) n.s.a above expectations (12.1%) in October: Actual (13%)

United Kingdom Producer Price Index - Output (MoM) n.s.a registered at 1.1% above expectations (0.8%) in October

FX option expiries for November 17 NY cut

ECB’s Rehn: Euro area inflation will ease next year

Forex Today: Dollar extends rally, markets await UK inflation data, Fedspeak

Natural Gas Futures: Further gains not ruled out

USD/CAD Price Analysis: Continues to ride the bullish wave, key Fibo. level eyed

EUR/USD Price Analysis: Sees a quick rebound to 1.1300 amid oversold conditions

GBP/CAD Price Analysis: Falling wedge confirmation keeps buyers hopeful

Crude Oil Futures: Decline could be losing traction

Gold Futures: Extra downside on the table

Chinese authorities will ensure stability if bond defaults trigger systemic risk in 2022– Moody’s

USD/INR Price Analysis: Indian rupee struggles between 100-DMA and monthly resistance

China eyes easing developer funding restriction in $152 billion ABS market

When are the UK CPIs and how could they affect GBP/USD?

Asian Stock Market: Grinds lower amid firmer Treasury yields, China headlines

AUD/USD Price Analysis: Takes offers at fresh monthly low, 0.7225-20 in focus

Breaking: EUR/USD crashes below 1.1300, fresh 16-month lows

US Commerce Sec Raimondo: China not living up to commitments in phase 1 deal

AUD/NZD: Downside opening up over the next 12 months – Goldman Sachs

AUD/JPY extends losses for second day, ignores improved Aussie wage growth

US Treasury Sec. Yellen extends government default deadline to Dec 15, yields rejoice

Gold Price Forecast: XAU/USD looks back to $1,868 yearly hurdle on sluggish yields

NZ PM Ardern: Will lift Auckland border next month after lockdown ends

Commodities. Daily history for Tuesday, November 16, 2021

USD/JPY targets major resistance of 115.00 level

NZD/USD Price Analysis: Further downside needs 0.6980 break

US 10-year Treasury yields wobble at three-week top on mixed clues

EUR/USD Price Analysis: Bulls test key 38.2% Fibo 1.1326

Schedule for today, Wednesday, November 17, 2021

USD/CNY fix: 6.3935 vs. the last close of 6.3917

US Dollar Index Price Analysis: DXY pokes 50% Fibo. hurdle amid overbought RSI

AUD/USD extends losses below 0.7300, ignores upbeat Aussie data amid firmer yields

AUD/NZD defies RBA, continues its positive streak for 6th day in a row

Australia Wage Price Index (QoQ) above expectations (0.5%) in 3Q: Actual (0.6%)

Australia Wage Price Index (YoY) in line with forecasts (2.2%) in 3Q

USD/CHF Price Analysis: Pauses on the way to 0.9340 resistance

Currencies. Daily history for Tuesday, November 16, 2021

USD/TRY: Risk reversal eases from eight-month high

Japan Adjusted Merchandise Trade Balance came in at ¥-444.7B, above forecasts (¥-446.1B) in October

Japan Adjusted Merchandise Trade Balance above forecasts (¥-446.1B) in October: Actual (¥-67.4B)

AUD/CHF Price Analysis: Bears stepping in for a breakout towards 0.6750

Japan Merchandise Trade Balance Total came in at ¥-67.4B, above forecasts (¥-310B) in October

Japan Machinery Orders (YoY) came in at 1.5%, below expectations (17.4%) in September

Japan Imports (YoY) down to 26.7% in October from previous 38.6%

Japan Machinery Orders (MoM) came in at 0% below forecasts (1.8%) in September

Japan Exports (YoY) below forecasts (9.9%) in October: Actual (9.4%)

GBP/USD drops back towards 1.3400 on Brexit woes, UK inflation eyed

Australia Westpac Leading Index (MoM): 0.16% (October) vs -0.02%

Fed's Daly: Next step for Fed is forward guidance

Silver Price Analysis: XAG/USD bears set eyes on $24.15-10 support zone

US Dollar Index retreats from a new year-to-date high around 95.97, steady around 95.80s

EUR/USD drops towards 1.1300 level, led by strong USD

WTI remains depressed below $80.00 despite upbeat API data, EIA stockpiles eyed

GBP/JPY Price Forecast: An upside break of a bullish-flag paves the way towards 156.00

USD/CAD Price Analysis: Bulls again flirt with 200-day EMA around 1.2550

United States Total Net TIC Flows down to $-26.8B in September from previous $91B

United States Net Long-Term TIC Flows dipped from previous $79.3B to $26.3B in September

United States API Weekly Crude Oil Stock below forecasts (1.55M) in November 12: Actual (0.655M)

New Zealand Producer Price Index - Output (QoQ) declined to 1.8% in 3Q from previous 2.6%

New Zealand Producer Price Index - Input (QoQ) fell from previous 3% to 1.6% in 3Q

Fed’s Daly: Infrastructure will boost productivity, not inflation

AUD/USD bears brace for fresh monthly low near 0.7300 amid firmer USD

US President Biden: Had a “good meeting” with China President Xi

Fed's Daly calls for central bank patience in the face of high inflation

NZD/USD struggles at 0.7000 amid broad US dollar strength across the board

US President Biden: Will make final decision on Fed Chair in about four days

Breaking: USD/JPY makes fresh bullish cycle highs at 114.70

Gold Price Forecast: XAU/USD could be on the way to $1,830s

USD/CHF probing resistance at 0.9300, lifted by further positive US data surprises

Forex Today: Dollar reaching overbought conditions, still poised to run

GBP/USD boosted by strong UK jobs data, but unable to break above key downtrend for now

AUD/USD Price Analysis: A fresh daily low could be on the cards

Silver Price Forecast: XAG/USD's rally stalled at the 200-DMA around $25.10, hovers around $24.80

EUR/JPY bulls move in trying to catch a falling knife

Colombia Gross Domestic Product (YoY) above forecasts (12.4%) in 3Q: Actual (12.8%)

S&P 500: Trims Monday’s losses and more, reclaims the 4,700 figure on upbeat US economic data

BoC's Schembri: Assessing how labour market conditions impact inflation has become more difficult

USD/TRY continues surge, nearly hits 10.40, as lira battered ahead expected CBRT rate cut

US House Majority Leader Hoyer: Vote on Biden's “Build Back Better” bill to happen by Friday at latest

Gold Price Forecast: XAU/EUR retreats from new yearly highs around €1,650, hovers around €1,640

US 10-year Treasury yields pull back from earlier session highs, remain supported above 1.60% for now