Author: FX
We’re getting the first scores for business activity in the Euro Area on Thursday! The PMI reports tend to affect EUR’s prices so you better pay attention to what the markets are expecting and how they may influence short-term price action before working on any euro plays! Here are points you need to know if you’re planning on trading the event: This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
AI imageThe market likes to focus on the dot plot because it’s the clearest indication of where the Fed plans to have its policy rate. That said, there’s an inherent uncertainty around the dots that doesn’t capture the Fed’s thinking.Maybe it’s better to focus on the Fed’s inflation mandate itself and where it sees prices going. In December, the Fed lowered its 2024 PCE inflation forecast to 2.4% from 2.5% and core PCE to 2.4% from 2.6%. How that shifts in this edition could be as strong an indication about where rates are going as the dot plot.In addition, the…
Heads up, franc traders! The SNB is gearing up to make its monetary policy decision soon and which has good odds of shaking things up among CHF pairs. Are they likely to announce changes this time around? Here’s what you need to know if you’re planning on trading this news event. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
Economists at ING expect the EUR/USD pair to trend higher throughout the second half of 2024. The Fed is the single most important driver of EUR/USD The Fed is, and should remain, the single most important driver of EUR/USD: our call is they will cut more than markets expect and crucially around 50 bps more than the ECB. Given that we also see both central banks starting to ease in June, we expect a bigger rally in EUR/USD in the second half of the year, when USD:EUR short-term rate convergence should accelerate. We target 1.1400 in 4Q24. Rising geopolitical tensions,…
USD/JPY, Fed Analysis Recommended by Richard Snow Introduction to Forex News Trading Yen Looking Vulnerable Ahead of FOMC and All-Important Dot PlotThe yen continued to weaken against the dollar in the London AM session ahead of the crucial FOMC decision this evening. While there is no realistic expectation of a change in the Fed funds rate, market participants are eagerly awaiting the Fed’s ‘dot plot’ which maps out individual views on the likely path of interest rates in 2024, 2025, 2026 and in the ‘long-run’.Stubborn US inflation has revealed its head in some form or another since December last year,…
Olemedia Rio Tinto (NYSE:RIO) plans to spend $350M on its Rincon lithium plant in Argentina, underscoring its commitment to start production by the end of this year, CEO Jakob Stausholm said this week after visiting the site. The hard work of our Rincon team is laying the groundwork for our first lithium production by year’s end,” Stausholm said in a statement to Reuters. Rio (RIO) acquired the Rincon project from Rincon Mining in 2022 for $825M, and plans to develop a battery-grade lithium carbonate plant with capacity of 3K tons/year. The company said it is working with local communities and…
© Reuters. SANTA MONICA, Calif. – Super League (NASDAQ: SLE), a prominent content creator and media solutions provider, has entered into a partnership with Chartis to enhance its offerings in Fortnite Creative. This collaboration aims to streamline the process for creators to develop original games and experiences within the Fortnite platform, which boasts 70 million monthly players. The alliance leverages Chartis’s Unreal Editor for Fortnite (UEFN) tools, which are designed to simplify content creation within the game’s creative mode. Super League, known for its Super Biz creator software development kit, will now have access to the Chartis Network. This network…
USD/JPY weekly chartA triple-top formation or a breakout to fresh highs since 1990? That is what awaits USD/JPY as we look towards the FOMC meeting decision later in the day.The dollar is trading firmer across the board in European morning trade, as it seems like traders are positioning for a more hawkish hold by the Fed later. Are we that confident of a shift in the dot plots from 75 bps to 50 bps? And will that even matter at the end of the day? I shared some food for thoughts on that earlier here, alongside a list of previews.But…
The US Dollar (USD) is doing a little better as investors prepare for the FOMC meeting. Economists at ING analyze Greenback’s outlook. The USD still seems to be lagging the recent pick-up in US rates Consensus is not looking for any significant changes in the statement or the Fed’s economic projections. If there is a risk, it lies in a less dovish/mildly Dollar positive outcome. The Dollar still seems to be lagging the recent pick-up in US rates and even if the Fed did stick with three expected cuts this year, we doubt the Dollar would sell off for long.…
GBP/USD Price, Analysis, and ChartsUK CPI fell to 3.4%, beating expectations.Fed rate decision, new dot plot, and press conference now keyMost Read: British Pound Wilts as Markets Await Both Fed and BoEAccording to the latest Office for National Statistics data, UK inflation fell faster than expected in February, pushed lower by falling food prices. Headline inflation fell to 3.4%, down from 4% in January and marginally lower than market forecasts of 3.5%, while core inflation fell to 4.5%, down from 5.1% and a fraction below market estimates of 4.6%. Good news for the Bank of England as it continues to…