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Euro hedging costs collapse, supporting EUR/USD – ING
Eurozone hedging costs on U.S. assets are falling sharply, reinforcing tailwinds for EUR/USD as the Fed easing cycle approaches. Near term, the pair should stay supported around 1.1630/40 with scope to test 1.1700–1.1730, ING's FX analyst Chris Turner notes.Fxstreet
Fri, Dec 5
EUR/USD holds gains with Eurozone GDP and US PCE inflation in focus
EUR/USD resumes gains on Friday, trading at 1.1660 at the time of writing, after bouncing from the 1.1640 area on Thursday. Downside attempts remain limited with markets bracing for a quarter-point interest rate cut by the Federal Reserve next week.Fxstreet
Fri, Dec 5
NZD/USD bounces up to fresh highs at 0.5780 amid US Dollar’s weakness
The New Zealand Dollar maintains its bullish trend against its US counterpart intact. Downside attempts have been contained above 0.5760, and the pair resumed its uptrend from mid-November lows, reaching monthly highs at 0.5780, with October 6 and 29 highs, in the 0.5800 area coming into focus.
Fxstreet
Fri, Dec 5
EUR/GBP trades flat above 0.8700 amid BoE rate cut speculation
The EUR/GBP cross trades on a flat note near 0.8735 during the early European session on Friday. Concerns over UK tax hikes and a dovish stance from the Bank of England (BoE) could exert downward pressure on the Pound Sterling.
Fxstreet
Fri, Dec 5
Canada Unemployment Rate expected to edge higher in November ahead of BoC rate decision
Statistics Canada will release its Labour Force Survey on Friday, and markets are bracing for a weak print. The Unemployment Rate is expected to tick higher to 7% in November, while the Employment Change is forecast to come in flat after a nice gain in October.Fxstreet
Fri, Dec 5
Japanese Yen holds steady as BoJ rate hike bets offset weak data; USD/JPY seems vulnerable
The Japanese Yen (JPY) holds steady during the Asian session on Friday and reacts little to the unimpressive data, which showed that Japan's Household Spending unexpectedly fell at the fastest pace in nearly two years in October.
Fxstreet
Fri, Dec 5
EUR/JPY softens to near 180.50 as BoJ rate hike speculation bolsters Japanese Yen
The EUR/JPY cross trades on a softer note around 180.60 during the early European session on Friday. The Japanese Yen (JPY) edges higher against the Euro (EUR) amid growing speculation that the Bank of Japan (BoJ) will raise interest rates when it meets in December.
Fxstreet
Fri, Dec 5
USD/CAD trades flat near 1.3950 ahead of Canada’s employment data
The USD/CAD pair trades in a tight range around 1.3950 during the Asian trading session on Friday. The Loonie pair wobbles inside Thursday’s trading range as investors await the Canadian labour market data for November, which will be published at 13:30 GMT.Fxstreet
Fri, Dec 5
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