- Trading
- Trading
- Markets
- Markets
- Products
- Forex
- Commodities
- Metals
- Indices Trading
- Share CFDs Trading
- Cryptocurrency CFDs
- Treasury CFDs
- ETF CFDs Trading
- Accounts
- Accounts
- Compare our accounts
- Open account
- Try free demo
- GO Markets Social
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- Mobile Trading Platforms
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Education
- Education
- Resources
- Resources
- News & Analysis
- Education Hub
- Economic Calendar
- Earnings announcements
- Courses
- Courses
- Introduction to forex
- First steps in forex
- Next steps in forex
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Fraud and scam awareness
- Legal documents
- Trading
- Trading
- Markets
- Markets
- Products
- Forex
- Commodities
- Metals
- Indices Trading
- Share CFDs Trading
- Cryptocurrency CFDs
- Treasury CFDs
- ETF CFDs Trading
- Accounts
- Accounts
- Compare our accounts
- Open account
- Try free demo
- GO Markets Social
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- Mobile Trading Platforms
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Education
- Education
- Resources
- Resources
- News & Analysis
- Education Hub
- Economic Calendar
- Earnings announcements
- Courses
- Courses
- Introduction to forex
- First steps in forex
- Next steps in forex
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Fraud and scam awareness
- Legal documents
- Home
- News & Analysis
- Forex
- FX Analysis – DXY, USDJPY, USDCAD, AUDUSD
News & AnalysisUSD was offered in Tuesdays session, with the US Dollar Index (DXY) printing a low of 102.060 ahead of the last major economic release for the year in Fridays Core PCE reading. Hawkish leaning comments from the Feds Bostic that he only sees two Fed rate cuts in 2024, less than the Fed median of three and well under the market pricing of six, failing to lend much support to the greenback.
JPY was the obvious FX underperformer, seeing USDJPY hit a high of 144.95, just failing to breach the psychological 145.00 level before retracing somewhat. JPY took a hit on the BoJ meeting where the central bank stood pat and unanimously left its rates and YCC unchanged. There was some pricing in on this pair of a hawkish surprise from the BoJ which didn’t materialise.
AUD and NZD were the G10 outperformers. AUDUSD benefitting from improved risk sentiment and the December RBA Minutes which suggested the Board considered whether to hike by 25bps or keep rates steady, NZDUSD caught a tailwind from upbeat NZ trade data.
CAD strengthened on the hotter-than-expected inflation data, where the year on year figure came in at 3.4% a beat of the expected 3.3%. CAD also receiving support from a rally in crude oil prices on the back of Red Sea tensions affecting oil transportation. USDCAD dropping to 5-month lows and seeing the daily RSI move into extreme oversold territory.
Ready to start trading?
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
Next Article
Accenture results revealed
Irish-American professional services company, Accenture plc (NYSE: ACN), announced Q1 FY24 financial results before the opening bell in the US on Tuesday. The company reported revenue of $16.224 billion for the three months that ended on 30/11/23, which was narrowly above analyst estimate of $16.169 billion. Earnings per share (EPS) reached $...
December 20, 2023Read More >Previous Article
FX Analysis – USDCAD, USDJPY, AUDUSD
FX traders have some tier one data releases to look forward to today, including the last major central bank meeting in the form of the Bank of Japan. ...
December 19, 2023Read More >