Market news

EUR/GBP drops to fresh 23-months lows near 0.8300

Gold Price Analysis: XAU/USD surges to multi-month highs above $1835 amid technical buying/short-squeeze

US Dollar Index challenges daily lows near 95.50

BoE's Bailey: Regional agents are seeing some evidence of second-round inflation effects

EUR/USD set to break below the 1.13 level – Scotiabank

GBP/USD to see further gains, first resistance sits at 1.3650/60 – Scotiabank

USD/CAD rebounds from 1.2450 back towards 1.2500 despite hotter than expected inflation and higher oil prices

BoE's Bailey: Tight labour market has potential to put upwards pressure on wage negotiations

USD/TRY extends the consolidation near 13.50, eyes on the CBRT

ECB's Villeroy: Will gradually adjust monetary policy to ensure inflation recedes soon, 2% target met

United States Redbook Index (YoY) up to 15.2% in January 14 from previous 14.4%

US: Housing Starts rose by 1.4% in December, Building Permits shot up by 9.1%

Canada Consumer Price Index - Core (MoM) increased to 0.6% in December from previous 0.2%

Canada BoC Consumer Price Index Core (MoM) above expectations (-0.2%) in December: Actual (0%)

Canada Wholesale Sales (MoM) registered at 3.5% above expectations (2.7%) in November

Canada BoC Consumer Price Index Core (YoY) above expectations (3.5%) in December: Actual (4%)

Canada: Annual CPI rises to 4.8% in December versus expected rise to 4.8%

Canada Consumer Price Index (YoY) meets forecasts (4.8%) in December

Canada Consumer Price Index (MoM) meets expectations (-0.1%) in December

United States Building Permits Change climbed from previous 3.6% to 9.1% in December

United States Building Permits (MoM) came in at 1.873M, above forecasts (1.701M) in December

United States Housing Starts (MoM) came in at 1.702M, above forecasts (1.65M) in December

United States Housing Starts Change fell from previous 11.8% to 1.4% in December

EUR/CAD: November low at 1.4165 at risk – Scotiabank

GBP/USD advances towards 1.3650 irrespective of political risks, as hot CPI boosts BoE tightening calls

AUD/USD: Scope for a fall to 0.6992/91 on a break below 0.7174/69 – Credit Suisse

UK Omicron: PM Johnson confirms “Plan B” restrictions to expire next week, England to return to “Plan A”

USD/MXN set to be comfortable trading near 21.00 – ING

EUR/USD stabilises under 1.1350 with eyes on widening US/Eurozone yield spreads

EUR/USD Price Analysis: A drop to the 2022 low is not ruled out

US Dollar Index Price Analysis: Downside seen as corrective only

United States MBA Mortgage Applications increased to 2.3% in January 14 from previous 1.4%

Portugal Current Account Balance fell from previous €-1.443B to €-2.091B in November

EUR/JPY Price Analysis: Further downside now appears likely

Ireland HICP (YoY): 5.7% (December) vs 5.4%

Ireland HICP (MoM) declined to 0.5% in December from previous 0.6%

Ireland Consumer Price Index (MoM) dipped from previous 0.6% to 0.5% in December

Ireland Consumer Price Index (YoY): 5.5% (December) vs 5.3%

South Africa Retail Sales (YoY) registered at 3.3% above expectations (1.9%) in November

Gold Price Forecast: XAU/USD clings to modest gains below $1,820, looks fragile

EUR/NOK: Sub-10.00 levels look sustainable – ING

Greece Unemployment Rate (MoM) remains unchanged at 13.3% in November

European Monetary Union Construction Output w.d.a (YoY) dipped from previous 4.4% to 0.5% in November

European Monetary Union Construction Output s.a (MoM) declined to -0.2% in November from previous 1.6%

FX option expiries for January 19 NY cut

EUR/JPY set to hit the 140.00 level in 2023 – ING

EUR/USD rebounds from lows and regains the 1.1350 zone

There is no EUR/CHF line in the sand for the SNB – ING

EUR/RON to hit the 5.00 level by the fourth quarter – ING

GBP/USD reverses a dip below 1.3600 amid hotter UK inflation, impending bull cross

USD/CNY: Inflows to keep the yuan strong in the first half of 2022 – ING

United Kingdom DCLG House Price Index (YoY) below expectations (10.2%) in November: Actual (10%)

GBP/USD could extend its slide toward 1.3530 in the near-term

IEA: A steady rise in oil supply could see a significant surplus materialize in Q1 2022

European Monetary Union Current Account n.s.a: €25.9B (October) vs previous €26.9B

European Monetary Union Current Account s.a: €23.6B (October) vs €18.7B

European Monetary Union Current Account n.s.a: €26B (October) vs previous €26.9B

AUD/USD remains stuck in range below 0.7200, focus shifts to Australian jobs

US Dollar Index meets some resistance near 95.80 ahead of data

USD/JPY points to test stubborn resistance at 115.30 – OCBC

Natural Gas Futures: Further gains not ruled out

AUD/USD: Loss of 0.7200 support implies more downside near-term – OCBC

EUR/USD: Next stop on the downside aligns at 1.1280/70 – OCBC

AUD/USD to stabilise around 0.72 in the coming months – ING

EUR/NOK: Encouraging signs to see a fall to 9.90 – Credit Suisse

USD/CAD: A rate hike by the BoC might not lead to lasting loonie strength – Credit Suisse

NZD/USD to stay below the 0.70 mark for the rest of the first quarter – ING

AUD/USD to drop towards the 0.71 level by end-March – Westpac

South Africa Consumer Price Index (MoM) registered at 0.6% above expectations (0.4%) in December

South Africa Consumer Price Index (YoY) came in at 5.9%, above forecasts (5.7%) in December

EUR/USD: Sellers to retain control with a drop below 1.1320

NZD/USD to creep back to 0.71 on a three-month view – Rabobank

Canadian CPI Preview: Forecasts from five major banks, on a thread to stay below 5%

EUR/GBP to continue working its way towards the 0.8270/80 zone – ING

S&P 500 Index to remain under pressure as yields re-price higher – Credit Suisse

USD/JPY: Scope for a substantial rise to 120.00 – ING

WTI eases to $85 as Iraq-Turkey oil pipeline flow to resume soon

Forex Today: Safe-haven flows dominate markets mid-week

Gold Price Forecast: XAU/USD to suffer additional declines on a break below $1,806

Germany Consumer Price Index (YoY) in line with expectations (5.3%) in December

Germany Harmonized Index of Consumer Prices (YoY) in line with expectations (5.7%) in December

United Kingdom Core Consumer Price Index (YoY) came in at 4.2%, above forecasts (3.9%) in December

Breaking: GBP/USD rises towards 1.3650 as UK annualized CPI beats estimates with 5.4% in Dec

United Kingdom Retail Price Index (YoY) above forecasts (7.1%) in December: Actual (7.5%)

United Kingdom Retail Price Index (MoM) came in at 1.1%, above forecasts (0.7%) in December

United Kingdom PPI Core Output (YoY) n.s.a registered at 8.7% above expectations (8.6%) in December

United Kingdom PPI Core Output (MoM) n.s.a below expectations (0.8%) in December: Actual (0.5%)

United Kingdom Consumer Price Index (MoM) above forecasts (0.3%) in December: Actual (0.5%)

United Kingdom Consumer Price Index (YoY) came in at 5.4%, above expectations (5.2%) in December

United Kingdom Producer Price Index - Output (YoY) n.s.a below forecasts (9.4%) in December: Actual (9.3%)

United Kingdom Producer Price Index - Output (MoM) n.s.a came in at 0.3% below forecasts (0.6%) in December

United Kingdom Producer Price Index - Input (YoY) n.s.a came in at 13.5% below forecasts (13.7%) in December

United Kingdom Producer Price Index - Input (MoM) n.s.a below expectations (0.7%) in December: Actual (-0.2%)

ECB's Villeroy: Central bank will do what it takes to get inflation back to 2% level

USD/CAD pares intraday losses near 1.2500 as oil retreats towards $85.00

Gold Price Forecast: XAU/USD needs to crack $1,820 for meaningful recovery – Confluence Detector

Indonesia: No changes to the interest rate by the BI this week – UOB

Crude Oil Futures: Upside momentum could lose traction

NZD/USD Price Analysis: 0.6790-95 hurdle challenges further upside

Malaysia: BNM could hike rates in H2 2022 – UOB

Gold Futures: Extra losses on the cards

AUD/USD: Risk reversal braces for biggest weekly fall since November

USD/INR: Rupee licks wounds near 74.60 as India’s inflation likely 5%-7% over next six months

PBoC seen on hold at its meeting this week – UOB

GBP/JPY Price Analysis: Bears attack 21-DMA with eyes on UK inflation data

USD/IDR Price News: Rupiah sits at daily lows near 14, 370 on Indonesian FinMin comments

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

USD/JPY Price Analysis: Justifies Tuesday’s bearish Doji to drop towards 114.00

BOJ Outlook Report (full version): Japan’s import prices continue to show clear rise

Gold Price Forecast: XAU/EUR retreats after two-month-old resistance rejected bulls, yields, inflation eyed

EUR/USD defends 1.1300 as US dollar resists tracking firmer yields

Asian Stock Market: Bears keep reins despite US-China yields spread shrinks to three-year low

USD/INR Price News: Bulls take the price into fresh corrective highs

USD/CHF Price Analysis: Retreats from 200-HMA inside weekly rising wedge

New Zealand’s Hipkins: Will review phased border reopening next month

GBP/USD is firming in Asia despite UK political angst

Border closures create trouble for New Zealand’s dairy farms, escalating labor shortage

US Treasury yields stay firmer at early 2020 levels, Chinese bond coupons refresh multi-day low

Commodities. Daily history for Tuesday, January 18, 2022

WTI crude oil hovers above $86.00 at eight-year high, Russia, yields and API in focus

US, UK to announce intent to launch formal talks to resolve trade dispute over steel, aluminum tariffs – Reuters

GBP/USD appears neutral, downside risks remain on GBP crosses – Morgan Stanley

A 50bps March Fed rate hike is warranted – Bloomberg Economics

US dollar and yields keep the fire burning in otherwise subdued markets

AUD/USD Price Analysis: Bounces off six-week-old support towards 0.7200

NZD/USD leads G10 gainers below 0.6800 as USD struggles to cheer strong yields

Schedule for today, Wednesday, January 19, 2022

USD/CNY fix: 6.3624 vs the estimated 6.3606

USD/TRY seesaws near $13.50 even as Turkish President Erdogan prepares to boost lira interest

USD/CAD Price Analysis: The bulls and bears battle it out at crucial support

USD/JPY eyes to regain 115.00 as Treasury yields refresh multi-day tops

GBP/USD Price Analysis: Bulls seeking a discount and break above 1.3690

Eurozone inflation to burn hotter, but ECB rates to stay on ice – Reuters poll

AUD/USD grinds lower past 0.7200 as coronavirus, yields favor bears at weekly low

Currencies. Daily history for Tuesday, January 18, 2022

Gold Price Forecast: XAU/USD flirts with 50/100-SMA as yields seesaw at multi-month peak

Australian PM Morrison: Have not received advice to shorten the isolation rules

Rebel MPs plot to oust UK PM Boris Johnson, as Covid ‘Plan B’ restrictions to be scrapped – Telegraph

WH Spokesperson: We still have tools at our disposal to deal with rising oil prices

USD/CAD stays pressured towards 1.2500 as multi-year high oil prices battle firmer USD, BOC CPI eyed

EUR/USD Price Analysis: Bears take a breather ahead of 1.1300 key support

Russia’s aggression toward Ukraine could escalate into conflict

New Zealand Electronic Card Retail Sales (MoM) above forecasts (-2.3%) in December: Actual (0.4%)

New Zealand Electronic Card Retail Sales (YoY) below forecasts (8.5%) in December: Actual (4.2%)

AUD/USD Price Analysis: Bears taking charge and testing critical support

S&P 500 falls under 4600 to hits fresh annual lows as Fed tightening fears, weak Goldman earnings weigh

United States Net Long-Term TIC Flows increased to $137.4B in November from previous $7.1B

United States Total Net TIC Flows increased to $223.9B in November from previous $143B

USD/CAD subdued just above 200DMA at 1.2500 as higher oil prices, hawkish BoC bets insulate loonie from buoyant buck

NZD/USD bulls stepping back to the table into the close

Forex Today: Dollar rallies again with soaring Treasury yields

Gold Price Forecast: Bulls move in for the kill at the 200-hour MA

GBP/USD drops into daily support structure in session lows

ECB's Villeroy: Inflation should fall back under 2.0% by year-end

AUD/NZD sticks near-21DMA at 1.06010 as weak Aus/NZ data shrugged off for now

EUR/USD to trade closer to the 1.10 in Q1 before drifting gradually higher – MUFG

Fed to hike interest rates each quarter this year – Rabobank

USD/JPY back to flat in 114.50 area as safe-haven yen demand outweighs dovish BoJ vibes, higher US yields

EUR/USD retreats further, drops to fresh one-week lows near 1.1320