Market News
Stay on top of the major news, data and analysis moving forex and global financial markets.
New Zealand Business NZ PSI increased to 50.9 in July from previous 50.6
New Zealand Business NZ PSI increased to 50.9 in July from previous 50.6
AUD/USD Price Forecast: Bulls eye 0.7100 after US Retail Sales miss
The Australian Dollar advanced on Friday after US Retail Sales disappointed investors, increasing speculation that the Federal Reserve might not raise rates, as the economy showed tentative signs of weakness. The AUD/USD trades at 0.7083, up 0.34%
Mexican Peso refreshes multi-month highs, Banxico minutes eyed
USD/MXN refreshed 24-month lows below 17.00 on Friday, but it has recovered some ground, with buyers stepping in and reclaiming the 17.00 level. Data from the United States (US) weighed on the Greenback, as consumer sentiment and Retail Sales deteriorated.
Chinese Yuan: Steady appreciation backed by PBoC stance – Societe Generale
Societe Generale analysts highlight CNY’s firm trend, with the currency advancing to 6.7424, its strongest level since February 2023, on Dollar weakness and lower US yields.
South Korean Won: Foreign inflows and exporters support KRW – Commerzbank
Commerzbank notes that the Kospi has rebounded 29.5% from its 30 July low, supported by strong tech earnings and improved sentiment toward semiconductor and memory chipmakers.
Japan CFTC JPY NC Net Positions climbed from previous ¥-45.5K to ¥-42.1K
Japan CFTC JPY NC Net Positions climbed from previous ¥-45.5K to ¥-42.1K
United Kingdom CFTC GBP NC Net Positions increased to £-56.2K from previous £-57.8K
United Kingdom CFTC GBP NC Net Positions increased to £-56.2K from previous £-57.8K
United States CFTC Oil NC Net Positions declined to 99.2K from previous 112.4K
United States CFTC Oil NC Net Positions declined to 99.2K from previous 112.4K
United States CFTC S&P 500 NC Net Positions: $11.3K vs $-27.3K
United States CFTC S&P 500 NC Net Positions: $11.3K vs $-27.3K
Eurozone CFTC EUR NC Net Positions dipped from previous €-58.1K to €-60K
Eurozone CFTC EUR NC Net Positions dipped from previous €-58.1K to €-60K
Australia CFTC AUD NC Net Positions down to $-39.2K from previous $-33.2K
Australia CFTC AUD NC Net Positions down to $-39.2K from previous $-33.2K
EUR/USD Price Forecast: 100-Day SMA blocks bullish reversal
The EUR/USD pair registers gains of over 0.32% on Friday as traders face key resistance at the 100-day Simple Moving Average (SMA) at 1.1567, as bulls eye the 1.1600 psychological figure. At the time of writing, the pair trades at 1.1564 after bouncing off daily lows of 1.1526.
Chinese Yuan: Activity data and PBOC stance guide FX – MUFG
MUFG’s Asia FX Weekly highlights that China’s July activity indicators, following weak Q2 GDP, will be central for the Chinese Yuan and regional FX.