Market news

US 10-year yields to climb above 2% into 2022 – Credit Suisse

EUR/USD bears pierce 1.1200 after US Jobless Claims and PCE

Gold Price Forecast: Rising US real yields to increase the downside pressure on XAU/USD – Credit Suisse

BoE's Tenreyro: Would not want to say either December or February for a rate increase

US: EIA Crude Oil Stocks rise by 1.0M barrels versus expected 0.5M barrel draw

United States EIA Crude Oil Stocks Change above forecasts (-0.481M) in November 19: Actual (1.017M)

Gold Price Forecast: XAU/USD remains under pressure, hits fresh weekly lows under $1780

USD/CAD closes to 1.2700 on upbeat US jobs data

US: New Home Sales rise by 0.4% in October compared to September's 7.1% surge

US: UoM Consumer Sentiment Index falls to 67.4 (final) in November vs. 66.8 expected

United States Core Personal Consumption Expenditures - Price Index (YoY) meets forecasts (4.1%) in October

United States Personal Consumption Expenditures - Price Index (MoM) above forecasts (0.4%) in October: Actual (0.6%)

United States Michigan Consumer Sentiment Index came in at 67.4, above forecasts (66.9) in November

United States Personal Consumption Expenditures - Price Index (YoY) registered at 5% above expectations (4.6%) in October

United States Personal Income (MoM) came in at 0.5%, above expectations (0.2%) in October

USD/TRY to hit new highs by the end of this year and throughout 2022 and 2023 – Wells Fargo

United States Core Personal Consumption Expenditures - Price Index (MoM) in line with expectations (0.4%) in October

United States Personal Spending came in at 1.3%, above forecasts (0.9%) in October

Breaking: US annual Core PCE inflation rises to 4.1% in October versus 4.1% expected

United States New Home Sales (MoM) below expectations (0.8M) in October: Actual (0.745M)

United States New Home Sales Change (MoM): 0.4% (October) vs previous 14%

Brexit: France to continue fishing discussions for a few days before measures taken

USD/MXN: Mexican peso tumbles after AMLO presents new nomination to central bank governor

EUR/USD looks depressed around 1.1200 ahead of FOMC

Switzerland: Government to hold off on new Covid-19 restrictions for now

Fed's Daly: Sees the case for speeding up the QE taper, expects rate hikes at end of 2022

Belgium Leading Indicator rose from previous 4 to 4.2 in November

USD/TRY looks volatile, recedes from new all-time highs past 13.000

GBP/USD struggles near YTD low, around mid-1.3300s post-US data

United States Durable Goods Orders registered at -0.5%, below expectations (0.2%) in October

United States Durable Goods Orders ex Transportation in line with forecasts (0.5%) in October

United States Gross Domestic Product Price Index registered at 5.9% above expectations (5.7%) in 3Q

US: Weekly Initial Jobless Claims decline to 199K vs. 260K expected

United States Wholesale Inventories registered at 2.2% above expectations (1%) in October

United States Durable Goods Orders ex Defense increased to 0.8% in October from previous -2%

United States Gross Domestic Product Annualized registered at 2.1%, below expectations (2.2%) in 3Q

United States Goods Trade Balance climbed from previous $-98.2B to $-82.9B in October

US: Durable Goods Orders fall by 0.5% in October vs. 0.2% expected growth

United States Personal Consumption Expenditures Prices (QoQ) meets forecasts (5.3%) in 3Q

United States Core Personal Consumption Expenditures (QoQ) in line with expectations (4.5%) in 3Q

US: Q3 GDP grows by 2.1%, versus 2.1% expected

United States Initial Jobless Claims below expectations (260K) in November 19: Actual (199K)

United States Continuing Jobless Claims came in at 2.049M, above forecasts (2.033M) in November 12

United States Initial Jobless Claims 4-week average down to 252.25K in November 19 from previous 272.75K

EUR/JPY: Resistance at 129.99/130.12 to cap for now – Credit Suisse

NZD/USD dips under 0.6900, weighed by strong dollar, dovish RBNZ hike

AUD/USD seems vulnerable near 0.7200, lowest since October ahead of US data

ECB'S Vasle: We must provide room for maneuver in case of worsening of pandemic

When is US PCE Price Index and how could it affect EUR/USD?

EUR/USD Price Analysis: Next on the downside comes 1.1185

France: Government Spokesperson says Covid “R” rate is currently at 1.6

Gold Price Forecast: XAU/USD hangs near multi-week low ahead of US data/FOMC minutes

Indonesia: Current Account surplus likely in 2021 – UOB

Mexico 1st half-month Inflation registered at 0.69% above expectations (0.53%) in November

Mexico 1st half-month Core Inflation registered at 0.15% above expectations (0.07%) in November

United States MBA Mortgage Applications climbed from previous -2.8% to 1.8% in November 19

German parties agree on minimum wage of 12 euros – Reuters

US Dollar Index Price Analysis: Scope for extra upside

Singapore: Inflation rose to 8y highs in October – UOB

EUR/JPY Price Analysis: Initial contention emerged around 128.00

Gold Price Forecast: XAU/USD to see a recovery to last week's high at $1,877 as $1,750 holds – Commerzbank

US 10-year Treasury yield could reach 2.05/10% on a break above 1.80% – SocGen

GBP/USD flirts with yearly low, around mid-1.3300s amid Brexit woes/stronger USD

S&P 500 Index: Scope for a fall of 3.7% from the peak to 4568/66 – Credit Suisse

Palladium Price Analysis: XPD/USD looks vulnerable, support at $1,850 is exposed – Commerzbank

USD/JPY to advance nicely towards 117.10 on a break above 115.50 – SocGen

GBP/USD to suffer further falls to the 1.3300/1.3250 zone – SocGen

ECB's Panetta: Continued monetary stimulus necessary

EUR/USD to extend its move lower towards 1.1019/02 – Credit Suisse

Indonesia: No change to the monetary conditions by the BI – UOB

WTI Price Analysis: Struggles to find a strong foothold above 50-DMA

USD/CAD holds above mid-1.2600s, downside seems protected ahead of key US data

ECB’s Holzmann: The central bank will decide on tapering in December

China’s Vice Commerce Minister: Will introduce new measures to stabilize trade in due course

EUR/GBP remains on the defensive near 0.8400 mark post-German IFO

Philippines: BSP shifts to a patient stance, left rates unchanged – UOB

US Dollar Index set to see further gains towards 99.50 – Commerzbank

German IFO’s Economist: Latest fall in IFO index gives us some cause for concern

Gold Price Forecast: XAU/USD to surge higher above the $2,072 high – Commerzbank

EUR/USD drops to fresh lows around 1.1220, looks to key data, FOMC

German IFO Business Climate drops to 96.5 in Nov vs. 96.6 expected

Germany IFO – Expectations came in at 94.2 below forecasts (95) in November

Germany IFO – Current Assessment in line with expectations (99) in November

Germany IFO – Business Climate registered at 96.5, below expectations (96.6) in November

Switzerland ZEW Survey – Expectations came in at -10.8 below forecasts (20.3) in November

USD/CLP to move back to the upper end the 810-840 range – Credit Suisse

NZD/USD to suffer further weakness following RBNZ's cautious guidance – MUFG

USD/CAD to plummet towards 1.20 by late 2022 as BoC hikes rates ahead of the Fed – BMO

USD/CHF trades with modest gains near mid-0.9300s, highest since September 30

German Finance Minister Scholz signs a coalition agreement to become next chancellor

Japan to issue JPY22 trillion worth of bonds as economic stimulus – Nikkei

China’s Foreign Ministry: Will release oil reserves according to its needs

Loonie to appreciate against most currencies as BoC moves to raise interest rates – Morgan Stanley

USD/ZAR to target 16.50 given the lack of rand-positive domestic catalysts – Credit Suisse

USD/TRY to climb to the 14.00 level until CBRT delivers a sizable policy rate hike – Credit Suisse

GBP/JPY slides to fresh daily low, back closer to mid-153.00s

EUR/USD to tick down towards the 1.12 level – OCBC

USD/JPY could extend its rise towards the 116.00 level – OCBC

USD/CNH faces firm hurdle at 6.4070 – UOB

EUR/SEK to head higher towards 10.20 as Riksbank is unlikely to rescue the krona – ING

US Dollar Index looks for direction around 96.50 ahead of data, FOMC

AUD/USD finds a little sparkle as downside momentum contracts – DBS Bank

France Business Climate in Manufacturing above expectations (106) in November: Actual (109)

GBP/USD: No hurdles in sight on the way to the 1.3150 support zone – OCBC

NZD/USD bounces off post-RBNZ low, still well offered around 0.6920-15 area

EUR/USD set to correct higher towards the 1.1456/1.1522 resistance zone – Commerzbank

USD/TRY bulls stay hopeful around $13.00 even as yields retreat

Gold Price Forecast: XAU/USD to extend its slide on a break below $1,790

Turkey Capacity Utilization climbed from previous 78% to 78.1% in November

Turkey Manufacturing Confidence down to 108.4 in November from previous 109.6

AUD/USD rebounds from a near two-month low, upside potential seems limited

Forex Today: US data dump, FOMC Minutes to rock markets ahead of Thanksgiving break

Asian shares edge higher, Euro Stoxx Futures print mild gains as yields retreat

USD/JPY Price Analysis: Hovers around 115.00 ahead of key US events

USD/JPY: Extra gains seen above 115.25 – UOB

Natural Gas Futures: Further upside not favoured

AUD/USD now looks to 0.7170 – UOB

Crude Oil Futures: Further rebound likely

GBP/USD: Next on the downside comes 1.3300 – UOB

Japan to sell a few hundred thousand kilolitres of oil from its stockpile

Gold Futures: Downside could take a breather

Silver Price Analysis: 50-DMA tests XAG/USD bears around $23.50

EUR/USD: Further decline on the cards – UOB

USD/INR Price News: Indian rupee bounces off three-week low on RBI, coronavirus chatters

NZD/USD Price Analysis: Licks RBNZ-led wounds near 0.6900, bears in control

GBP/USD stays depressed below 1.3400 as Brexit woes battle softer yields ahead of Fed Minutes

EUR/USD resumes downside towards 1.1200 ahead of key event risks

US Treasury yields retreat from monthly high on cautious mood, US calendar eyed

USD/CHF Price Analysis: On the way to 0.9368-75 resistance region

Gold Price Forecast: XAU/USD at inflection point pre-Fed minutes, levels to watch – Confluence Detector

WTI struggles at weekly top above $78.00 amid joint oil reserve release

US Dollar Index Price Analysis: Tuesday’s Doji tests DXY bulls

USD/CAD recovers towards 1.2700 amid firmer USD, ahead of key data

Japan PM Kishida: Country to release oil from reserves

Commodities. Daily history for Tuesday, November 23, 2021

AUD/USD Price Analysis: Sellers look to 78.6% Fibonacci retracement

NZD/JPY Price Analysis: Bears eye a run to test daily support structure

RBNZ’s Orr: Border opening does not change policy outlook

USD/JPY grinds higher past 115.00 as bulls track yields at 44-month top

Japan’s Yamagiwa: Watching yen carefully

New Zealand’s Hipkins: Will begin easing border restrictions from January

AUD/NZD prints four-day uptrend above 1.0400 despite RBNZ rate hike

USD/CNY fix: 6.3903 vs the previous fix of 6.3929

Schedule for today, Wednesday, November 24, 2021

NZD/USD slumps towards 0.6900 on RBNZ’s 0.25% rate hike, Governor Orr’s speech eyed

Breaking: RBNZ hikes as expected by 25bps, NZD/USD undecided

New Zealand RBNZ Interest Rate Decision meets expectations (0.75%)

Japan Jibun Bank Manufacturing PMI below expectations (54.5) in November: Actual (54.2)

US inflation expectations bounce off two-week low ahead of a busy day

GBP/USD Price Analysis: Keeps bounce off two-month-old support towards 1.3400

Australia Construction Work Done registered at -0.3% above expectations (-3.1%) in 3Q

Currencies. Daily history for Tuesday, November 23, 2021

When is the RBNZ and how it could affect NZD/USD?

NZD/USD Price Analysis: Technical observations before the RBNZ

Singapore Gross Domestic Product (QoQ) above forecasts (0.8%) in 3Q: Actual (1.3%)

Singapore Gross Domestic Product (YoY) came in at 7.1%, above forecasts (6.5%) in 3Q

AUD/JPY Price Analysis: Crucial for AUD bulls to reclaim the 84.00 level

Gold Price Forecast: XAU/USD bears eye $1,780 support amid firmer yields

First Fed rate hike in July 2022, second in November and two hikes per year thereafter – Goldman Sachs

EUR/USD Price Analysis: Steady around 1.1250 inside weekly falling wedge

EU's Šefčovič on Brexit: We will probably not be able to resolve everything before year-end

AUD/USD hovers above 0.7200 amid mixed catalysts, long day ahead

GBP/JPY Price Analysis: A break of a bullish flag exposes a move towards 156.00

AUD/NZD Price Analysis: The big day has arrived for this cross

United States API Weekly Crude Oil Stock rose from previous 0.655M to 2.307M in November 19

South Korea BOK Manufacturing BSI above expectations (87) in December: Actual (88)

NZD/JPY bounces at 50DMA, reclaims 80.00 level ahead of RBNZ policy announcement

EUR/JPY Price Analysis: Bulls committing at critical hourly support

S&P 500 drops below 4,700 amid risk-off market sentiment and higher US bond yields

EUR/CHF recovers back to 1.05 level, but yet to break out of bearish trend

NZD/USD continues to range close to 0.6950 as RBNZ meeting looms

Forex Today: Dollar strong ahead of US first-tier events

Argentina Trade Balance (MoM) fell from previous $1667M to $1601M in October

United States 7-Year Note Auction: 1.588% vs 1.461%

USD/JPY Price Analysis: A bearish-wedge formation opens the door for a correction towards 113.50

WTI rises over $2.0, probes 50DMA close to $79.00 despite US SPR release announcement

EUR/USD: 1.1220 opens risk to 1.1000, FOMC eyed

BoC's Beaudry: Pressures keeping inflation high should start “moving away” next summer

USD/CAD Price Analysis: Bears to target 1.2600 on break of dynamic support

GBP/USD reached a new year-to-date low at 1.3342 though bounced off towards 1.3370s

XAU/EUR pullback continues, now under 21DMA at €1586 as Eurozone real yields rise

BoE's Bailey says bank may not go back to giving hard guidance on rates

AUD/USD prints an eight-week low around 0.7207 amid US dollar strength

NZD/USD treads water in 0.6950 region as RBNZ policy decision looms

USD/MXN: Mexican peso accelerates slide to fresh eight-month lows, above 21.20