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The AUD/USD pair is advancing firmly right from the initial tick amid an improvement in the risk appetite of the market participants. The asset has re

Further consolidation within the 0.5610-0.5810 range looks likely in NZD/USD in the short term, comment Economist Lee Sue Ann and Markets Strategist Q

CME Group’s flash data for crude oil futures markets noted traders added around 13.3K contracts to their open interest positions on Wednesday, reachin

The continuation of the upside in GBP/USD is expected to meet a tough barrier at the 1.1600 region, suggest Economist Lee Sue Ann and Markets Strategi

Who’s down to trade the trends today? I’m seeing a couple of neat retracements happening right now on the S&P 500 index and AUD/CAD.

The US Dollar drifted lower today but, still remains at elevated levels as the Fed have made it clear that inflation is enemy number one. If the Fed stays on track, will the uptrend continue?

<ul><li><a href=”https://www.forexlive.com/news/more-from-new-zealand-deputy-pm-robertson-nz-needs-fiscal-stabilisation-20221006/”>More from New Zealand Deputy PM Robertson – NZ needs fiscal stabilisation</a></li><li><a href=”https://www.forexlive.com/centralbank/federal-reserve-speakers-due-thursday-6-october-2022–20221006/”>Federal Reserve speakers due Thursday, 6 October 2022 -</a></li><li><a href=”https://www.forexlive.com/news/new-zealand-deputy-pm-robertson-im-not-concerned-over-the-longer-term-outlook-for-nzd-20221006/”>New Zealand Deputy PM Robertson: I’m not concerned over the longer-term outlook for NZD</a></li><li><a href=”https://www.forexlive.com/news/more-on-news-that-the-us-plans-to-ease-venezuela-sanctions-enabling-chevron-to-pump-oil-20221006/”>More on news that the US Plans to Ease Venezuela Sanctions, Enabling Chevron to Pump Oil</a></li><li><a href=”https://www.forexlive.com/news/reuters-poll-of-analysts-about-half-think-gbpusd-will-fall-to-parity-by-the-end-of-2022-20221006/”>Reuters poll of analysts, about half think GBP/USD will fall to parity by the end of 2022</a></li><li><a href=”https://www.forexlive.com/news/nzdusd-soc-gen-say-to-watch-0601006060-for-signal-to-continue-downtrend-20221006/”>NZD/USD – Soc Gen say to watch 0.6010/0.6060 for signal to continue downtrend</a></li><li><a href=”https://www.forexlive.com/news/anz-world-commodity-price-index-new-zealand-05-in-september-20221006/”>ANZ World Commodity Price Index (New Zealand) -0.5% in September</a></li><li><a href=”https://www.forexlive.com/news/australia-august-exports-3-mm-prior-99-imports-4-52-20221006/”>Australia August exports +3% m/m (prior -9.9%) & imports +4% (+5.2%)</a></li><li><a href=”https://www.forexlive.com/news/opec-2mn-bblday-cut-not-what-it-seems-but-it-signals-the-cartel-will-support-the-price-20221006/”>OPEC+ 2mn bbl/day cut; not what it seems, but it signals the cartel will support the price</a></li><li><a href=”https://www.forexlive.com/news/fx-option-expiries-thursday-6-october-2022-new-york-cut-20221005/”>FX option expiries Thursday, 6 October 2022 New York cut</a></li><li><a href=”https://www.forexlive.com/centralbank/european-centralbank-monetary-policy-meeting-minutes-are-due-on-thursday-6-october-2022-20221005/”>European Central Bank monetary policy meeting minutes are due on Thursday, 6 October 2022</a></li><li><a href=”https://www.forexlive.com/centralbank/bank-of-america-projects-market-will-buy-dips-then-usdjpy-is-likely-to-test-150-by-1q23-20221005/”>Bank of America projects market will buy dips then “USD/JPY is likely to test 150 by 1Q23″</a></li><li><a href=”https://www.forexlive.com/news/hedge-fund-things-are-breaking-investors-need-some-strategies-to-own-the-tails-20221005/”>Hedge fund: “Things are breaking … investors need some strategies to own the tails”</a></li><li><a href=”https://www.forexlive.com/news/goldman-sachs-sp500-could-fall-to-3150-by-mid-2023-in-the-case-of-a-hard-landing-20221005/”>Goldman Sachs: S&P500 could fall to 3150 (by mid-2023) in the case of a hard landing</a></li><li><a href=”https://www.forexlive.com/news/wsj-us-plans-to-ease-venezuela-sanctions-enabling-chevron-to-pump-oil-20221005/”>WSJ: U.S. Plans to Ease Venezuela Sanctions, Enabling Chevron to Pump Oil</a></li><li><a href=”https://www.forexlive.com/news/australian-construction-pmi-for-september-465-prior-479-20221005/”>Australian Construction PMI for September 46.5 (prior 47.9)</a></li><li><a href=”https://www.forexlive.com/centralbank/fitch-slashes-its-outlook-for-the-bank-of-england-20221005/”>Fitch slashes its outlook for the Bank of England</a></li><li><a href=”https://www.forexlive.com/news/commerzbank-says-we-are-downwardly-revising-our-gold-price-forecast-20221005/”>Commerzbank says “We are downwardly revising our gold price forecast”</a></li><li><a href=”https://www.forexlive.com/news/fitch-rating-agency-says-higher-usd-will-add-to-the-macro-headwinds-faced-by-us-firms-20221005/”>Fitch rating agency says higher USD will add to the macro headwinds faced by US firms</a></li><li><a href=”https://www.forexlive.com/news/trade-ideas-thread-thursday-6-october-2022-20221005/”>Trade ideas thread – Thursday, 6 October 2022</a></li><li><a href=”https://www.forexlive.com/news/us-says-the-oil-output-cuts-align-opec-with-russia-20221005/”>US says the oil output cuts “align Opec with Russia”</a></li><li><a href=”https://www.forexlive.com/news/us-major-indices-close-with-modest-declines-20221005/”>US major indices close with modest declines</a></li><li><a href=”https://www.forexlive.com/news/forexlive-americas-fx-news-wrap-opec-makes-a-big-cut-ism-services-beats-estimate-20221005/”>Forexlive Americas FX news wrap: OPEC makes a big cut, ISM services beats estimate</a></li><li><a href=”https://www.forexlive.com/centralbank/feds-bostic-says-the-fight-on-inflation-is-still-in-its-early-days-20221005/”>Fed’s Bostic says the fight on inflation is still in its early days</a></li></ul><p class=”western”>
The
US dollar lost a few points during the session, with AUD, NZD notable
gainers. EUR, GBP, CAD were all higher against the USD also but
trailed behind OZ and NZ.
</p><p class=”western”>Australian
trade surplus data today also showed strong imports of consumer goods
(and thus strong domestic demand), giving a tailwind to the AUD.
</p><p class=”western”>The
CHF also added on a few points against the dollar while USD/JPY is
very little net changed on the session.
</p><p class=”western”>Late
in the US day (after 4pm) Atlanta Fed President Bostic spoke. He
maintained the hawkish drum beat coming from Fed officials.
</p><p class=”western”>Thee
was news on oil, the Wall Street Journal reporting that the Biden
administration is looking at potentially easing sanctions on
Venezuela to allow Chevron to export more oil out of the country. The
main caveats to this are, one, the US administration wants to see
Maduro allowing opposition parties to be more active. This seems
unlikely. And two, even if this was achieved it would likely be years
before Chevron could pump meaningful volumes out of the country. Oil
is a touch weaker on the session here.
</p><p class=”western”>Regional
equities were mixed following the soft lead from Wall Street on
Wednesday.
</p><p>NZD and AUD were leaders:</p>

This article was written by Eamonn Sheridan at forexlive.com.

<p>Earlier is here:</p><ul><li><a href=”https://www.forexlive.com/news/new-zealand-deputy-pm-robertson-im-not-concerned-over-the-longer-term-outlook-for-nzd-20221006/” target=”_blank” data-article-link=”true”>New Zealand Deputy PM Robertson: I’m not concerned over the longer-term outlook for NZD</a></li></ul><p>More now:</p><ul><li>Robertson says cuts to spending will mean a shrinking fiscal impulse</li><li>a move to a quicker surplus would require austerity measures</li><li>business cite their number one issue as getting labour supply</li></ul><p>NZD/USD has moved higher during the session, following on from its gains Wednesday US time:</p>

This article was written by Eamonn Sheridan at forexlive.com.

October trade was off to a roaring start until the speculative charge hit the skids this past session. We could try to connect the stumble to US data or Fed speculation, but the math doesn’t work out. More likely, seasonal positioning has worked through and now the markets are tuned back into tangible fundamentals. What does that mean?

<p>Plenty of Federal Reserve officials on the talking circuit ahead today:</p><p>1250 GMT Federal Reserve Bank of Cleveland President Loretta Mester</p><ul><li>opening remarks before the “Real-Time Data Analysis, Methods, and Applications” conference </li></ul><p>1700 GMT Federal Reserve Board Governor Lisa Cook</p><ul><li> speaks on the economic outlook at the Peterson Institute for International Economics</li></ul><p>1700 GMT Federal Reserve Bank of Chicago President Charles Evans</p><ul><li> participates in moderated Q&A with Illinois Chamber of Commerce</li></ul><p>2100 GMT Federal Reserve Board Governor Christopher Waller</p><ul><li>speaks on the economic outlook before the Mark C. Berger Workshop Series</li></ul><p>2230 GMT Federal Reserve Bank of Cleveland President Loretta Mester again</p><ul><li>speaks on monetary policy and the economic outlook before the Council for Economic Education “Economists on the Economy” event</li></ul><p>—</p><p>All of these look like they will be pertinent. Fed officials are still flagging aggressive rate hikes ahead, this from Bostic earlier:</p><ul><li><a href=”https://www.forexlive.com/centralbank/feds-bostic-says-the-fight-on-inflation-is-still-in-its-early-days-20221005/” target=”_blank” data-article-link=”true”>Fed’s Bostic says the fight on inflation is still in its early days</a></li></ul>

This article was written by Eamonn Sheridan at forexlive.com.