Daily Forex News By XtreamForex

XtreamForex

NZD/USD Goes Down Toward 0.5700 While Breaking the Short-term Barrier

On the last Wednesday in November, the NZD/USD gained momentum, going up more than 1%, sitting near 0.5690 in Asia’s session. This time, it climbed past the nine-day EMA, hinting at fresh short-term power. But let’s be real—the bigger trend still points down. The daily chart makes that obvious, so investors aren’t exactly piling in right now.

A bit of calm shows up in the short-term signals; however, the 50-day EMA still hangs above, holding back buyers. The nine-day EMA now acts as a support zone. For real change, buyers need to break past that 50-day level; without it, slipping back remains likely, particularly if NZD/USD fails to hold recent gains.

Support Levels Hold as Buyers Test the Waters

The RSI (Relative Strength Index) holds near 52 – steady and it’s climbing slowly, hinting at gains if demand stays strong. Should momentum fade, watch 0.5650 as a support level, along with the nine-day EMA  at about 0.5640. If those give way, sellers could push harder toward the support at 0.5550. A breakdown past that opens room for another leg down to April’s bottom around 0.5485. The multi-year low in April, which is close to 0.5485, may be revisited by traders.

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GBP/USD Rises Once More as Dollar Expectations of a Rate Cut

GBP/USD climbed higher this week, hitting above 1.3250 on Thursday—marking six days straight of upward moves. What’s driving it? Well, the dollar’s getting weaker because more traders now expect a rate cut from the Fed come December. Despite the recent mixed bag of US economic data, most people continue to hold a more dovish view, which keeps the dollar on its back foot.

Take a look at the CME Fed Watch Tool—markets now give an 84% chance the Fed will cut rates by 25 basis points, way up from last week. Not even stronger US Durable Goods Orders or fewer Initial Jobless Claims could shake this outlook. Investors seem pretty convinced that easing inflation and political pressure will push the Fed to loosen policy soon.

Dollar Drops Even as Data Beats Expectations

Recent US numbers showed Initial Jobless Claims dropping to 216,000, beating forecasts and pointing to a solid labor market. Normally, you’d expect that to help the Dollar, but right now everyone’s focused on what the Fed does next. There’s also talk that the White House is eyeing new Fed chair candidates who favor lower rates, which just adds to the Dollar’s struggles.

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USD/CAD Is Above 1.4000 While Markets Await Crucial Information

USD/CAD is firm and holding onto mild gains this Friday in the Asia Market. It is holding near 1.4030. The US Dollar’s getting a little lift, but not much—everyone’s still betting on a Federal Reserve rate cut in December. All eyes are also on Canada’s Q3 GDP numbers, set to drop later today. That release could shake things up for the pair.

Fed’s Dovish Comments Fuel Rate-Cut Bets

Lately, top Fed officials have made it pretty clear they’re leaning toward easing. San Francisco Fed President Mary Daly openly backed a rate cut, citing a soft labor market. Christopher Waller, the governor of the Fed, agreed, stating that a 25 basis point cut is warranted due to the poor state of the labor market. Of course, they’ll still watch the data. But the market’s already made up its mind. The CME FedWatch Tool shows traders are pricing in an 87% chance of a December rate cut—way up from just 39% last week. That keeps the US Dollar afloat, but it’s not enough to push it much higher.

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EUR/JPY Pair Nears 180.70; Market Banks on Eurozone HICP Data

EUR/JPY rises near 180.70 as traders snap up the pair after three straight days of losses. Buyers stepped in once the price bounced off the 180.00 level, and now everyone’s watching for the latest Eurozone inflation numbers (HICP) to set the tone.

The Expectation is that the ECB Will Keep Rates Steady 

Right now, the Euro’s got some support. People expect the ECB to keep rates steady for a while, especially with the flash HICP release just around the corner. Forecasts put headline inflation at 2.1% year-on-year for November and core inflation at 2.5%. Recent numbers out of France, Spain, and Italy didn’t show much price pressure, but Germany’s data came in a bit hotter than expected. All this mixed data adds up to one thing: the ECB probably won’t cut rates anytime soon. That’s giving the Euro some momentum and keeping EUR/JPY on firmer ground.

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Wall Street Rebounds as Fed Rate-Cut Expectations Strengthen

Wall Street came roaring back on Tuesday. Traders suddenly seemed a lot more confident that the Fed’s going to cut rates soon, and you could feel that energy everywhere. People started shifting their positions ahead of this week’s big inflation data. Treasury yields calmed down, companies sounded a little more hopeful, and the main stock indices just took off right from the opening bell. 

Indices Rise Ahead of Key PCE Inflation Report 

By the time morning rolled around, the S&P 500 had climbed half a percent. The Dow was up 0.4%, and the Nasdaq stole the show with a solid 1% jump. At the open, the Dow shot up 127 points. S&P and Nasdaq both started strong too, rising 0.27% and 0.45%. All eyes are on Friday’s Personal Consumption Expenditures (PCE) Price Index—that’s the inflation number the Fed actually cares about. The results from that report will probably set the tone for what happens with rates this December. Folks investing in bonds maintained their composure, but they were very confident. The 10-year Treasury rate moved higher, climbing to 4.11% from 4.09% earlier, while the 2-year declined little, to 3.52%. Nothing unusual transpired; instead, there was a peaceful hope in the air

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GBP/USD Drops Below 1.3350 as the USD Accelerates

Early on Thursday, GBP/USD is trading around 1.3330, retreating from its recent two-month high. The main story? The US Dollar bounced back, even though American economic data has been underwhelming. People are keeping an eye on the calendar—big US numbers are on the way, especially the Weekly Initial Jobless Claims Report. Right now, there’s caution in the air, but with everyone talking about a possible Fed rate cut next week, the Pound isn’t falling too far.

Fed Rate Cut Hopes and the Kevin Hassett Factor

Soft US numbers, like the latest Manufacturing PMI and ADP jobs data, have traders doubling down on a December Fed rate cut. FedWatch odds are now near 90% for a 25-basis-point cut, and markets expect more easing in 2025. That takes some pressure off the Dollar, which gives GBP/USD a bit of breathing room for now.

But there’s another angle: possible changes at the Fed. Trump says he’ll announce his pick for the next Fed Chair early next year, and Kevin Hassett—known for pushing aggressive rate cuts—is in the running. If Hassett gets the job, expect a more dovish Fed, and that could pull the Dollar down over time.

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GBP/USD Holds Steady at 1.3330 While Traders Wait for US PCE Data

GBP/USD isn’t really going anywhere right now, hovering near 1.3330 in Friday’s Asian hours. Everyone’s just waiting for the US PCE inflation numbers—the data got delayed, so traders are playing it safe until they see what the Fed might do next. Nobody wants to make big bets on the Pound or the Dollar before getting a clearer signal on interest rates.

Fed Rate Cut Bets Lift GBP/USD—But BoE Expectations Limit Gains

The US Dollar’s feeling a bit soft as talk of a Fed rate cut grows louder. The CME FedWatch Tool puts odds of a quarter-point cut next week at almost 89%, and that’s helping support GBP/USD for now. Still, there’s a ceiling. Worries about the UK economy and chatter about the Bank of England also cutting rates—maybe as soon as December—are holding the Pound back. Markets are giving a 90% chance of a BoE cut, so any serious push higher for GBP/USD keeps running into resistance.

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AUD/JPY Weakens Following RBA’s Decision to Maintain Rates Above 3.6%

AUD/JPY in the early Asian hours on Tuesday floated near 103.20 levels, after the Reserve Bank of Australia (RBA) kept its Official Cash Rate at 3.6%. The cut had been widely anticipated by markets; however, the more dovish tone from officials helped keep mild pressure on the Aussie, dragging it through 103.50.

RBA Cautious on Inflation Outlook

In its statement, the Australian central bank indicated that recent inflation pressures may also partially stem from temporary factors, though broadening price growth still needs to be closely watched. And policymakers said they will remain cautious and monitor the economic outlook as new data is released. The decision reinforced perceptions that the RBA is set to stay on the sidelines for now, keeping a lid on AUD gains across the board.

Worries Over Earthquakes May Affect BoJ Outlook

In the meantime, investors are also keeping an eye on Japan after Learning of a powerful earthquake. Analysts said that, depending on the extent of the damage the world’s third-largest economy sustained, the Bank of Japan (BoJ) could postpone a widely expected rate hike next week. The bank’s forthcoming meeting, on December 18–19, is now the subject of extra uncertainty, which could in turn weigh on the Yen in the sessions ahead.

Also in the market spotlight will be any comments from BoJ Governor Kazuo Ueda later in the day, which may provide clues on whether plans for policy normalization will proceed or be put on hold until further notice. AUD/JPY is under mild selling pressure for now; geopolitical and central bank expectations are expected to influence short-term movements.  For now, the Aussie dollar remains in demand as the Yen takes lower ground on risk sentiment.