Daily Forex News by XtremeMarkets.com

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EUR/JPY Slides Down as Investors Keep an Eye on German GDP Data

EUR/JPY is going down today, hovering in the mid-180s. Sellers are showing up as the Japanese Yen gets a little boost from talk about possible government intervention. Still, the pair isn’t dropping much—everyone’s just waiting to see what Germany’s latest GDP numbers have to say.

Intervention Talk Puts Yen in the Spotlight 

There’s been a fresh round of intervention rumours, and that’s helped the Yen. Japan’s finance minister made it clear they’re ready to step in if the currency gets too wild. Other officials have hinted at the same thing. They don’t want the Yen to get too weak and mess with the economy. Meanwhile, the Bank of Japan hasn’t ruled out a rate hike in December. Governor Ueda pointed out the obvious: a weaker Yen pushes inflation higher, and inflation’s already been running above target for years. So, between intervention talk and the chance of a rate hike, the Yen’s got some support, which keeps EUR/JPY from climbing.

 

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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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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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