Author: FX
ICYMI, from the Bank of Japan on Thursday:BOJ governor Ueda comments on phrasing of needing time to scrutinise market risksBOJ governor Ueda: Uncertainties surrounding Japan’s economy, prices remain highBOJ governor Ueda: Will pay attention to upside risks to prices from weak yenBOJ governor Ueda: It is possible that unforeseen negative effects could emerge with more rate hikesBank of Japan leaves rates unchanged, as widely expectedA snippet now via UBS on what they gleaned from the Bank of Japan yesterday.Analysts there say Ueda hinted at market volatility being the main blockage to further rate hikes (‘policy normalisation’ in central bank gobbledegook…
The US Dollar lost additional momentum on Thursday, primarily as the Japanese yen gained strong support following a slightly hawkish tone from the BoJ meeting, preventing the dollar from recovering any upward traction. Friday’s release of the US labour market report is expected to be pivotal for determining the Fed’s near-term rate path. Here is what you need to know on Friday, November 1: The US Dollar Index (DXY) deflated to multi-day lows and flirted with the critical 200-day SMA in the 103.80 region. The publication of October’s Nonfarm Payrolls will take centre stage, seconded by the final S&P Global…
The Bank of Japan (BOJ) maintained its short-term interest rate target at 0.25% at today’s policy meeting, while signaling increasing confidence in the economic outlook that could pave the way for further monetary tightening as early as December. Link to official Bank of Japan Statement and Economic Outlook Key Points from the BOJ Statement: Short-term interest rate target held steady at 0.25% Core inflation forecast for fiscal 2025 trimmed to 1.9% from 2.1% BOJ projects inflation to remain around 1.9% through fiscal 2026 Economic growth forecasts maintained at 0.6% for current fiscal year Growth projections of 1.1% and 1.0% for…
The GBPUSD has moved below the 1.2938 level. That level corresponded with a number of swing lows and highs going back to mid-July (see red numbered circles on the chart below). See earlier video HERE at 4:15 mark. Last week the price fell below that level as well, but quickly snapped back higher.Today we are seeing follow-through selling that has taken the price now below last week’s low at 1.29064, and is down testing part at the 50% midpoint of the move up from the April 2024 low to the September 2024 high. That midpoint level comes in at 1.2866.…
EUR/USD rises further around 1.0890 on Eurozone upbeat GDP growth and hot inflation. ECB Lagarde sees more interest-rate cuts and said she is hopeful about inflation returning to the bank’s target of 2%. The US Dollar will be influenced by the US presidential election, NFP, and the ISM Manufacturing PMI data. EUR/USD extends its upside to near 1.0890 in Thursday’s North American session following Wednesday’s sharp recovery. The major currency pair strengthened as traders have pared back bets of a large interest-rate cut from the European Central Bank (ECB) in the December monetary policy meeting after a faster-than-expected Eurozone Gross Domestic Product (GDP) growth and hotter-than-forecasted inflation…
Investing.com — Wedbush analysts said they feel “more bullish” on Microsoft’s (NASDAQ:) stock despite the noise that emerged following the tech giant’s latest earnings report. The company reported first-quarter results above market expectations, with Azure’s year-over-year constant currency growth at 34%, beating forecasts by 100 basis points. AI-driven growth played a substantial role, contributing a 12% boost compared to 8% in the previous quarter, highlighting the strong AI monetization trends benefiting Microsoft’s core cloud business. Despite these figures, shares fell more than 3% in premarket trading Thursday as the December quarter guidance for Azure’s constant currency growth came in at…
Rate cuts by year-endFed: 42 bps (94% probability of rate cut at the upcoming meeting) 2025: 119 bpsECB: 23 bps (91% probability of 25 bps rate cut at the upcoming meeting) 2025: 121 bps BoE: 30 bps (80% probability of rate cut at the upcoming meeting) 2025: 94 bps BoC: 32 bps (72% probability of 25 bps rate cut at the upcoming meeting) 2025: 114 bps RBA: 5 bps (96% probability of no change at the upcoming meeting)2025: 52 bps RBNZ: 54 bps (84% probability of 50 bps rate cut at the upcoming meeting/16% for a 75 bps cut) 2025:…
Strategy: Flip 55 The Flip 55 is a trend-following strategy. This straightforward approach utilizes 2 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%. Recommended Timeframe This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than H1, optimal results are typically achieved within the H1, H4, and Daily timeframes. Trade Details Currently, the Flip 55 strategy has identified a trading opportunity on the USD/CAD pair within the H1 timeframe. I’ve shared a trade setup image for your…
USD/CHF trades in negative territory for the second consecutive day near 0.8655 in Thursday’s early European session. Global political uncertainty and geopolitical risks boost the Swiss Franc, a traditional safe-haven asset. Investors await the US PCE inflation data for more cues on the Fed’s policy path. The USD/CHF pair drifts lower to around 0.8655 during the early European session on Thursday. Persistent safe-haven flows amid the uncertainty surrounding the US presidential election on November 5 and Middle East tensions continue to support the Swiss Franc (CHF). The US economic data continues to suggest that the US economy remains strong and supports…
By Amy Tennery NEW YORK (Reuters) -The Los Angeles Dodgers mounted a comeback for the ages to beat the New York Yankees 7-6 in Game Five on Wednesday and win their first World Series since 2020. The Dodgers trailed 5-0 in the fifth inning and were down a run in the eighth before a sacrifice fly from All-Star Mookie Betts capped the biggest comeback win in a clinching game in World Series history. New York had hoped to become the first team to force a Game Six after trailing 0-3 in a World Series but fell flat in their first…