USD

USD/JPY bears have gone to work over the past two weeks, holding a lower-high even as USD spiked last Friday. And then forcing a breakdown from the descending triangle formation to test below the 151.95 level.

U.S. stocks are mixed after stronger than forecast data and ahead of the key core PCE inflation report. US GDP was revised higher to 1.9% in Q3, up from 1.8%, boosted by solid consumer spending as inflation continued to cool. Meanwhile, jobless fell to 213k. The data points to the US economy being in a good place raising questions over the Fed's ability to cut rates. US core PCE is expected to rise to 2.8% YoY in October.

U.S. stocks are heading higher, building on recent gains, as investors weigh up the implications of Trump's tariffs on its top trade partners. President-elect Trump said he would impose a 25% tariff on Canadian and Mexican imports and an additional 10% tariff on imports from China. Looking ahead, the minutes of the November Fed meeting will be released later and could provide more insight into the Fed's outlook for rates.

Sr. Technical Strategist Michael Boutros highlights the levels that matter on the USD Majors, commodities & stocks into the weekly open.

U.S. stocks are pointing to a stronger open on Monday amid a sign of relief on Wall Street following President-elect Trump's nomination for Treasury Secretary - Scott Bessent, who favours less stringent trade tariffs.. The move higher comes after gains last week, which saw investors shift into cyclical stocks while rotating out of technology.

U.S. stocks are heading for a soft open, ending a broadly positive week on a more cautious tone ahead of the release of PMI data. The Dow Jones is on track to rise 1% this week, while the S&P 500 is set for 1.3% gains. The Nasdaq is up 1.6%. Attention is on US PMI data which is expected to show services and manufacturing PMIs rising in November.

U.S. stocks are set to open modestly higher after another record quarter for Nvidia as jobless claims fall and geopolitical tensions mount. Nvidia beat estimates for the top and bottom lines in another impressive showing. However, gains are limited owing to disappointment surrounding the revenue growth forecast, which is set to be the slowest in seven quarters. Meanwhile, jobless claims fell to 213k from 217k, and the Russian-Ukrainian conflict ramps up.

The USD index defied the 3-day retracement that dared to defy its bullish trend and now appears on the cusp of a breakout. While this could signify EUR/USD dropping below 105, it may also equate to a bullish breakout on USD/JPY.

The USD rally is reminiscent of the one seen in July which, if to be repeated, could see it tag 108.29 over the next month. But already it appears to be ahead of schedule. USD/JPY looks set to make a break for 156 which seems within easy reach.

US stocks are edging lower after losses in the previous session as investors digest the latest US inflation data while looking ahead to more Fed speakers later today. US inflation was in line with forecasts, rising 0.2% MoM (2.6% YoY), while core inflation was also as expected, rising 0.3% MoM (3.3% YoY). The data supports a December rate cut.

The post-election rally has extended more than 2.7% off the monthly low with USD now testing major resistance. Battle lines drawn on the DXY short-term technical charts.

U.S. stocks are set to open higher, extending gains from last week. Trump's victory continues to boost the market as investors await the next round of economic data, which could decide whether the rally can continue. US inflation data is due later in the week. Tesla and Bitcoin-related stocks are outperforming as the Trump trade shows few signs of slowing.

As the latest COT data is up to the close of election day, it shows how traders were positioned ahead of the results. Subsequent market moves suggest they needn't have piled into VIX longs and could have increased net-long exposure to the USD. But they were right to be wary of gold.

U.S. stocks are set to open modestly higher on Friday, remaining close to record highs reached this week as the markets digest the Federal Reserve rate cut following Trump's win and as investors look ahead to next week’s inflation data. The Fed cut rates by 25 basis points as expected and te market sees another cut coming in December. However, rate cut expectations for next year have been lowered.

The expected 25 cut was delivered. But the Fed were understandably cautious regarding future cuts, given they don't know which or how many of Trump’s inflationary policies will see the day of light. And that means the current pullback on the USD and yields could be limited.

US Dollar surged nearly 5.3% off the yearly low with the Trump election rally failing at major resistance. Battle lines drawn on the weekly technical chart into the Fed.

U.S. stocks are at a record high after Donald Trump won the election to become the 47th president of the United States. Republicans are on course to take both the Senate and the House, pointing to the possibility of a Republican sweep. This would give Trump a strong platform to implement his policies, including tax cuts and deregulation, as well as trade tariffs against China. USD trades at its highest level since June.