Market news

USD/CAD holds onto weekly gains, keeps looking at 1.2800

USD/CHF remains well support above 0.9300, close to weekly peak and eyeing test of H2 2021 highs

EUR/USD: A test of 1.10 it looks just a matter of time – ING

NZD/USD breaks under 0.6550 amid a risk-off market mood

Gold Price Forecast: XAU/USD has more room on the downside ahead of NFP

US Dollar Index trims gains and returns to 97.20

Fed's Kashkari: Expect Fed to raise rates at March meeting, have to see how data plays out

US: UoM Consumer Sentiment Index falls to 67.2 (final) in December vs 68.7 expected

United States Michigan Consumer Sentiment Index below forecasts (68.7) in January: Actual (67.2)

S&P 500 Index: Resistance at 4434/50 to cap for a retest of key supports at 4213/4199 – Credit Suisse

EUR/USD: Dip below 1.11 to clear the way for substantial losses to 1.10 – Scotiabank

USD/CAD to surge towards the 1.2900/50 area on a break above 1.2815 – Scotiabank

GBP/USD leaps back above 1.3400, hits session highs as easing Q4 wage pressures dent dollar

USD/JPY: Break above 115.06 clears the way for strength back to 116.35/75 – Credit Suisse

Argentina reaches deal with IMF to revamp debt of over $40 billion

EUR/USD turns positive near 1.1160 post US PCE

USD/JPY retreats from multi-week high, slides back below mid-115.00s post-US data

Fed's Kashkari: Need to bring economy back into balance with rate hikes, don't know how many that will take

US: Personal Income rose 0.3% MoM in December vs 0.5% exp, Personal Spending fell 0.6% MoM vs 0.6% expected drop

United States Personal Consumption Expenditures - Price Index (YoY) below expectations (6.1%) in December: Actual (5.8%)

United States Personal Consumption Expenditures - Price Index (MoM) below expectations (0.5%) in December: Actual (0.4%)

Breaking: US annual Core PCE inflation rises to 4.9% in December versus 4.8% expected

United States Employment Cost Index registered at 1%, below expectations (1.2%) in 4Q

United States Personal Spending meets forecasts (-0.6%) in December

United States Core Personal Consumption Expenditures - Price Index (YoY) came in at 4.9%, above forecasts (4.8%) in December

United States Core Personal Consumption Expenditures - Price Index (MoM) meets forecasts (0.5%) in December

United States Personal Income (MoM) came in at 0.3% below forecasts (0.5%) in December

Silver Price Analysis: XAG/USD seems vulnerable near three-week low, around mid-$22.00s

Gold Price Analysis: XAU/USD holds just above annual lows near $1790 as US data dump eyed

Central banks reacting to inflation resulting from energy transition would be absurd – Natixis

EUR/USD Price Analysis: Weakness looks far from abated

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

EUR/GBP flatlines in 0.8320s, just above multi-year lows as next week’s BoE/ECB meetings eyed

US Dollar Index Price Analysis: Extra gains in the pipeline

FOMC: Rates will likely go up in March – UOB

AUD/USD plummets to 0.6970-65 area, lowest since July 2020 amid stronger USD/risk-off

EUR/JPY Price Analysis: Further consolidation on the cards

Philippines: Economy recovered faster than expected in Q4 – UOB

India Bank Loan Growth below expectations (8.3%) in January 14: Actual (8%)

India FX Reserves, USD declined to $634.29B in January 21 from previous $634.97B

Ireland Retail Sales (YoY) declined to -2.2% in December from previous 16.3%

Ireland Retail Sales (MoM) fell from previous 0.6% to -3.2% in December

Brazil Inflation Index/IGP-M came in at 1.82%, below expectations (2%) in January

Ireland Retail Sales (YoY) declined to 1.82% in December from previous 16.3%

USD/CNH now looks to 6.3975 – UOB

Gold Price Forecast: XAU/USD drops to three-week low, ascending trend-line breakdown in play

Italy 10-y Bond Auction increased to 1.39% from previous 1.02%

Belgium Consumer Price Index (MoM) rose from previous 0.1% to 2.23% in January

Belgium Consumer Price Index (YoY): 7.59% (January) vs 5.71%

Euro area Economic Sentiment Indicator declines to 112.7 in January vs. 114.5 expected

USD/INR to continue its bounce towards 75.50/70 – SocGen

European Monetary Union Business Climate: 1.81 (January) vs previous 1.84

Italy Producer Price Index (YoY) below expectations (23.8%) in December: Actual (22.6%)

Italy Producer Price Index (MoM) came in at 0.8%, below expectations (2.7%) in December

Belgium Gross Domestic Product (QoQ) came in at 0.5%, above expectations (0.4%) in 4Q

European Monetary Union Industrial Confidence came in at 13.9, below expectations (15) in January

Greece Producer Price Index (YoY): 29.4% (December) vs 24.5%

European Monetary Union Services Sentiment came in at 9.1 below forecasts (14.9) in January

European Monetary Union Consumer Confidence: -8.5 (January)

European Monetary Union Economic Sentiment Indicator below forecasts (114.5) in January: Actual (112.7)

EUR/USD remains under pressure in the low-1.1100s

IMF: China’s government should spend more to support economy

USD/CAD hits three-week high, around 1.2775 amid sustained USD buying/retreating oil

GBP/USD to retest December low near 1.3160/1.3130 on failure to hold 1.3300 – SocGen

EUR/USD to sink towards 1.1040 on failure to reclaim 1.1270/1.1300 – SocGen

Russian Foreign Minister Lavrov: There will be no war with Ukraine

ECB to hike rates in September 2023, six months after QE halt – Bloomberg Survey

German Preliminary GDP contracts by 0.7% in Q4 vs. -0.3% expected

GBP/USD struggles below 1.3400 mark, hangs near one-month low set on Thursday

Germany Gross Domestic Product (YoY) registered at 1.4%, below expectations (1.8%) in 4Q

Germany Gross Domestic Product w.d.a (YoY) down to 1.4% in 4Q from previous 2.5%

Germany Gross Domestic Product (QoQ) came in at -0.7% below forecasts (-0.3%) in 4Q

European Monetary Union M3 Money Supply (3m) declined to 7.3% in December from previous 7.5%

Norway Registered Unemployment n.s.a up to 2.6% in January from previous 2.2%

European Monetary Union Private Loans (YoY) below expectations (4.3%) in December: Actual (4.1%)

Norway Registered Unemployment s.a climbed from previous 80.18K to 81.89K in January

European Monetary Union M3 Money Supply (YoY) above expectations (6.8%) in December: Actual (6.9%)

Italy Business Confidence registered at 113.9, below expectations (115.3) in January

Italy Consumer Confidence below expectations (116.5) in January: Actual (114.2)

USD/JPY: Next on the upside comes 115.80 – UOB

US Dollar Index climbs to new cycle tops near 97.40

FX option expiries for January 28 NY cut

EUR/USD to fall toward 1.1000 if 1.1100 support fails

Wider spreads to lift USD/JPY to 118.00 this year – Scotiabank

USD/CHF has the 0.94 level in its crosshairs – BofA

Austria Producer Price Index (YoY): 16.7% (December) vs 15.3%

Austria Producer Price Index (MoM) remains unchanged at 1.5% in December

USD/CHF steadily moves back closer to a two-month high touched on Thursday

EUR/USD to find more durable medium-term support in the 1.08-1.10 zone – Citibank

German Economy Minister expects economic growth to reach pre-crisis levels in Q2 2022

EUR/GBP to press strong support near 0.8275 – ING

Sweden Consumer Confidence (MoM) down to 90.1 in January from previous 98.7

USD to strengthen gradually this year as the Fed moves towards policy normalisation – HSBC

Spain Gross Domestic Product - Estimated (QoQ) came in at 2%, above expectations (1.4%) in 4Q

Spain Gross Domestic Product - Estimated (YoY) registered at 5.2% above expectations (4.5%) in 4Q

Switzerland KOF Leading Indicator came in at 107.8, above expectations (106.3) in January

USD/CAD to sink towards the 1.20 level by year-end – Scotiabank

France Producer Prices (MoM) down to 1% in December from previous 3.5%

Oil prices to hit the $95 mark on vulnerability to supply disruptions – ANZ

USD/JPY climbs to fresh multi-week high, further beyond mid-115.00s

AUD/USD: Next support comes at 0.6995 – UOB

NZD/USD to challenge strong support at the 0.65 level – ANZ

Natural Gas Futures: Room for extra gains

GBP/USD: Solid support emerges around 1.3300 – UOB

Crude Oil Futures: Some consolidation not ruled out

Gold Price Forecast: XAU/USD to drop towards $1,750 on removal of January lows at $1,783

Germany Import Price Index (YoY) below expectations (26.4%) in December: Actual (24%)

BOJ’s Kuroda: Don't expect Fed policy to have negative impact on Japan’s economy.

Sweden Unemployment Rate dipped from previous 7.5% to 7.3% in December

Norway Retail Sales : -3.1% (December) vs previous 0.9%

Sweden Retail Sales (MoM) dipped from previous 0.9% to -4.4% in December

Germany Import Price Index (MoM) registered at 0.1%, below expectations (2%) in December

Sweden Retail Sales (YoY) declined to 3.3% in December from previous 6%

Denmark Industrial Outlook down to -1 in January from previous 6

Forex Today: Dollar consolidates gains ahead of key US inflation data

Further weakness lies ahead for EUR/USD – UOB

AUD/USD sticks to modest recovery gains below mid-0.7000s, lacks follow-through

Fitch: Infrastructure investment to support China’s GDP growth in 2022

German Economic Adviser: ECB will need to react if inflation is 'persistent'

Gold Price Forecast: XAU/USD faces a wall of resistances above $1,800 ahead of US inflation – Confluence Detector

EUR/GBP Price Analysis: Drops towards 0.8300 during four-day downtrend

Gold Futures: Further downside unlikely

France Consumer Spending (MoM) in line with forecasts (0.2%) in December

US Dollar Index now targets 97.80 – UOB

USD/CAD pullback eyes 1.2700 on upbeat oil prices, US PCE Inflation in focus

NZD/USD Price Analysis: Oversold RSI backs corrective pullback to previous support

GBP/USD regains 1.3400 on Brexit optimism ahead of Sue Gray report, US PCE Inflation

EUR/USD pares weekly losses near 1.1150 with eyes on German GDP, US PCE inflation

Asian Stock Market: Nikkei 225, ASX 200 gain 2.0% on a sluggish day

USD/INR Price News: Indian rupee regains ground around 75.20

USD/CHF Price Analysis: Pullback remains elusive beyond 0.9270

High inflation to stick this year, denting global growth – Reuters poll

Silver Price Analysis: XAG/USD finds buyers again near $22.40, rebound appears capped

Commodities. Daily history for Thursday, January 27, 2022

USD/TRY Price Analysis: Golden cross on 4H keep buyers hopeful

GBP/JPY eyes a sustained break above 154.75 amid impending bear cross

US T-bond yields, stock futures rebound as markets wait for US data

Gold Price Forecast: XAU/USD flirts with $1,800 ahead of US PCE Inflation

Schedule for today, Friday, January 28, 2022

PBOC sets USD/CNY reference rate at 6.3746

EUR/USD battles options market’s heaviest bearish bias since October around 1.1150

AUD/USD Price Analysis: Stays pressured towards 2021 bottom

USD/JPY defends 115.00 as yields rebound, IMF signals weaker yen

Australia Producer Price Index (QoQ) above forecasts (0.3%) in 4Q: Actual (1.3%)

Australia Producer Price Index (YoY) above expectations (2.7%) in 4Q: Actual (3.7%)

GBP/USD Price Analysis: Bounces off 11-week-old support but not out of the woods

Currencies. Daily history for Thursday, January 27, 2022

IMF urges BOJ to consider targeting shorter-term yields

WTI seesaws around $87.00 as Russia-Ukraine tension battle hawkish Fed concerns

Japan Tokyo CPI ex Food, Energy (YoY) below forecasts (-0.3%) in January: Actual (-0.7%)

Japan Tokyo CPI ex Fresh Food (YoY) below expectations (0.3%) in January: Actual (0.2%)

Japan Tokyo Consumer Price Index (YoY) came in at 0.5% below forecasts (0.6%) in January

USD/CAD Price Analysis: Eases from monthly resistance above 1.2700

US inflation expectations hover above four-month low ahead of US Core PCE Price Index

South Korea Service Sector Output below expectations (-0.1%) in December: Actual (-0.4%)

South Korea Industrial Output Growth registered at 4.3% above expectations (1%) in December

South Korea Industrial Output (YoY) came in at 6.2%, above expectations (2%) in December

US President Biden eyes additional macroeconomic help for Ukraine as Russian invasion looms

NZD/USD clings around 0.6580 as it falls for the sixth straight day

AUD/USD bears eye sub-0.7000 zone on strong USD ahead of US PCE Inflation

Breaking: Apple (AAPL) Earnings for Q1 beats estimates on EPS and revenue

EUR/USD Price Analysis: Bulls step in at month-end, eyeing the upside

New Zealand ANZ – Roy Morgan Consumer Confidence remains unchanged at 98 in January

GBP/USD consolidates at one-month lows under 1.3400 as hawkish Fed, strong GDP data keep dollar buoyant

AUD/USD Price Analysis: Bears have eyes on 0.70 the figure

EUR/JPY Price Analysis: Approaches the weekly lows around 128.20s

Forex Today: It’s all about the dollar and the Fed

USD/CAD clears key resistance, hits three-week highs in 1.2740 area as bulls eye return to 1.2800

Gold Price Forecast: Trendline support is critical at month-end as market digests the Fed

S&P 500 reverses early session gains, falls back from above 4400 to low 4300s in choppy trade

USD/JPY rallies for the second-straight day trading around 115.20

United States 7-Year Note Auction up to 1.769% from previous 1.48%

United States 4-Week Bill Auction in line with forecasts (0.035%)

GBP/JPY Price Analysis: Bears need to break critical support of 153.83

USD/CHF Price Analysis: Clings to 0.9300 after a hawkish Fed

NZD/USD dips below 0.6600 for first time since early November 2020 as hawkish Fed/strong US data boosts buck

ECB: No surprises in February, Lagarde to tell the same story as December –Rabobank

US Q4 GDP: Savor the flavor because it will not last – Wells Fargo

EUR/USD unable to recover, prints fresh low at 1.1130

Silver Price Forecast: XAG/USD plunges more than 3%, following FOMC meeting, down around $22.60s

United States Kansas Fed Manufacturing Activity up to 20 in January from previous 10