News
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IMF's Georgieva says US data indicates some softening in economy
WASHINGTON, Oct 8 (Reuters) - Recent economic data indicates some softening in the U.S. economy, Kristalina Georgieva, managing director of the International Monetary Fund, said on Wednesday.Georgieva, speaking at an event hosted by the Milken Institute, said it was critical for the U.S. to work on ...Reuters
Wed, Oct 8
FOREX-Yen weakest since mid-February on fiscal fears
Takaichi's election raises yen fiscal spending concernsEuro falls amid French political uncertaintyUS dollar benefits from lack of economic dataBy Karen Brettell Oct 8 (Reuters) - The Japanese yen reached its weakest level since mid-February against the dollar on Wednesday on rising concerns ...Reuters
Wed, Oct 8
EUR/GBP holds near one-month low as French political turmoil caps Euro’s recovery
The Euro (EUR) holds steady against the British Pound (GBP) on Wednesday, attempting to stabilize after sliding earlier in the day. At the time of writing, the EUR/GBP cross is trading around 0.8665, hovering near its weakest level since September 16.
Fxstreet
Wed, Oct 8
USD/JPY: Further USD strength is likely – UOB Group
Impulsive momentum is likely to outweigh overbought conditions, but it remains to be seen if US Dollar (USD) can break above 153.00. In the longer run, further USD strength is likely; the level to watch is 153.80, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Fxstreet
Wed, Oct 8
NZD/USD: Next support at 0.5690 is unlikely to come into view – UOB Group
Scope for New Zealand Dollar (NZD) to test 0.5720; the next support at 0.5690 is unlikely to come into view. In the longer run, outlook for NZD has shifted to negative; the level to watch is 0.5690, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Fxstreet
Wed, Oct 8
AUD/USD: Likely to head lower and test the 0.6555 support level – UOB Group
Increasing downward momentum suggests Australian Dollar (AUD) is likely to head lower and test the 0.6555 support level. In the longer run, the odds of AUD breaking below 0.6555 are increasing, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
Fxstreet
Wed, Oct 8
CAD flat and outperforming on crosses – Scotiabank
The Canadian Dollar (CAD) is trading flat from Tuesday’s close and extending its recent consolidation around a cluster of key technical levels, a relative performer against all of the G10 currencies in an environment of broad-based US Dollar (USD) strength, Scotiabank's Chief FX Strategists Shaun Os
Fxstreet
Wed, Oct 8
NZD tumbles on surprise 50bpt rate cut – Scotiabank
The US Dollar’s (USD) gains are extending into Wednesday’s NA session with broad strength against all of the G10 currencies. NZD is underperforming, down 0.6% on the back of an unexpectedly large RBNZ rate cut, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.Fxstreet
Wed, Oct 8
NZD/USD rebounds modestly after RBNZ’s 50 bps rate cut-led plunge
The New Zealand Dollar (NZD) comes under heavy pressure on Wednesday after the Reserve Bank of New Zealand (RBNZ) lowered the Official Cash Rate (OCR) by 50 basis points (bps) to 2.50% from 3.00%. Markets had been expecting a smaller 25 bps move.Fxstreet
Wed, Oct 8
Silver Price Forecast: XAG/USD rallies to fresh long-term highs at $49.00
Silver (XAG/USD) correction found support at the mid-range of 47.00 on Tuesday and bounced up strongly on Wednesday, with precious metals buoyed by risk aversion amid political woes in Japan and France and the US government shutdown.The US political impasse entered its second week with Senate Democr
Fxstreet
Wed, Oct 8
FOREX-Euro, yen slide for third straight day versus US dollar, Fed minutes in focus
Dollar rises against euro, yen on political developmentsAnalysts question pricing of Fed easing path ahead of minutesYen drops over 3.5% in three sessions amid policy speculationStrategists flag concerns over Fed independenceBy Stefano Rebaudo Oct 8 (Reuters) - The euro and the yen were headed fo...Reuters
Wed, Oct 8
Japan's likely next prime minister wrestles coalition backlash
Moderate Komeito wary of ruling LDP's new hardline leaderCoalition talks may delay parliament vote on next premierYen slides as investors weigh political hiatusOpposition parties consider alternative PM candidateBy Tamiyuki Kihara and John Geddie TOKYO, Oct 8 (Reuters) - Japan's likely n...Reuters
Wed, Oct 8
NZD plunges as RBNZ delivers jumbo 50bps cut – BBH
NZD/USD dropped 1% to a six-month low near 0.5740 after the Reserve Bank of New Zealand surprised markets with a 50bps cut to the Official Cash Rate, now at 2.50%. The central bank signaled it remains open to further reductions, citing spare capacity and downside risks to activity and inflation.Fxstreet
Wed, Oct 8
Stablecoins may drum up $1.4 trillion of extra dollar demand by 2027, JPM says
LONDON, Oct 8 (Reuters) - The adoption of stablecoins could generate an additional $1.4 trillion in demand for U.S. dollars by 2027, if enough overseas investors want to own these digital assets, analysts at JPMorgan said in a note on Tuesday. WHY IT'S IMPORTANTThe potential increase in dollar d...Reuters
Wed, Oct 8
USD/JPY surges toward 155 as Yen slumps – BBH
USD/JPY broke decisively above 151.00, climbing to an eight-month high near 153.00 and setting up a potential test of 155.00. The yen’s weakness reflects expectations of continued stimulus under incoming Prime Minister Sanae Takaichi and soft wage data that argue for a cautious BOJ.Fxstreet
Wed, Oct 8
