Author: FX
© Reuters. FILE PHOTO: A sanitation worker disinfects rubble, amid rising concerns of spread of infectious diseases, as dead bodies started to decompose, following fatal floods in Derna, Libya, September 17, 2023. REUTERS/Amr Alfiky By Ahmed Elumami, Ayman al-Warfali DERNA, Libya (Reuters) -Sabreen Blil was on her hands and knees atop the rubble of her brother’s house, the wind beating at her black robe as she clawed with her bare hands at the flattened masonry in hope of somehow digging to the family buried below. She recited their names as she wept. “Taym, Yazan, Luqman, Salmah, Tumador, Hakim and his…
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Last week, we got another set of good economic data for the US with signs of further disinflation in the core inflation measures. The soft-landing narrative should be in full swing with resilient labour market, lower inflation, and lower inflation expectations. Nonetheless, the Nasdaq Composite price action remains rangebound, and at this point it might even be because we are getting near to the FOMC rate decision. Looking forward, the uncertainty is very high as we either get a soft or hard landing, but the weakness in other economies like the Eurozone skews the picture to the worse scenario. Nasdaq…
Share: The European Central Bank’s (ECB) Slovakian policymaker Peter Kazimir said on Monday, “I wish is that September rate hike was the last but can’t rule out further rate increases.” Additional quotes “Only the March forecast can confirm that we are heading unequivocally towards our inflation goal.” “End of rate hikes to open debate on how to adjust PEPP and APP.” “Once clear that no more hikes are needed, debate should start on speeding up QT.” Market reaction At the press time, EUR/USD is adding 0.14% on the day to trade at 1.0668, maintaining its intraday range. Source link
EUR/USD ANALYSISECB speakers in focus today.Hawkish Fed may sustain EUR/USD downside.Channel support and swing low being eyes by bears – 1.05 on the cards? Recommended by Warren Venketas Get Your Free EUR Forecast EURO FUNDAMENTAL BACKDROPThe euro opened relatively flat this Monday morning ahead of a big data week for both the euro area and US respectively. Today’s trading day is expected to be muted due to a lack of high impact economic data but European Central Bank (ECB) speakers including the ECB’s de Guindo’s and Panetta, should stoke some volatility through EUR crosses.The primary focus points for the week…
Looking for setups to start your trading week? While we’re waiting for top-tier data releases, check out GBP/CHF possibly extending its trend! Lemme show you what’s up in the 1-hour time frame: GBP/CHF 1-Hour Forex Charts by TV As you can see, GBP/CHF has been making lower highs and lower lows since late August when the U.K.’s inflation showed a cooldown in July and BOE Governor Bailey said that they’re nearly over their “we clearly need tighter policies” phase. The pair is now trading near the 1.1125 zone after bouncing from its 1.1080 intraday lows. Can GBP/CHF extend its downtrend?…
Bill Pugliano/Getty Images News The United Auto Workers’ strike against Detroit’s Big 3 automakers has entered its fourth day, garnering support from the White House and Democratic politicians, although negotiations remain deadlocked. A team from the White House is expected to reach Detroit early this week to help mediate contract talks. The team is led by White House adviser Gene Sperling and acting Labor Secretary Julie Su. “Sperling and Su are engaging with the parties by phone, as they have for weeks, with the intention of being there early in the week,” an administration official told NBC News. Meanwhile, Jeep…
© Reuters. FILE PHOTO: The Iranian and U.S. flags are seen printed on paper in this illustration taken January 27, 2022. REUTERS/Dado Ruvic/Illustration/File Photo By Hyonhee Shin SEOUL (Reuters) – South Korea said on Monday it is working with all parties involved in unfreezing Iranian funds worth $6 billion, which once released will trigger a carefully choreographed deal between arch foes the United States and Iran to swap detainees. Once the funds are transferred to Qatar, which mediated the deal during months of talks, five U.S. dual nationals who were imprisoned in Iran are expected to leave Tehran for Doha…
News traders are in for a busy week as we hear from FOUR major central banks about their September monetary policies. We’ll also see potential market movers such as New Zealand’s GDP, Canada and the U.K.’s CPI data, and a bunch of PMI reports from around the world. Before all that, ICYMI, I’ve written a quick recap of the market themes that pushed currency pairs around last week. Check it! And now for the closely-watched economic indicators on the calendar this week: Canada’s CPI report We know from August’s release that Canada’s monthly and headline CPI came in hotter than…
It’s a big week in terms of what is on the calendar but it will be starting off rather slowly with pretty much a nothingburger today. Major central banks are in the spotlight with the Fed set to step up to the plate first. After that, we’ll have the SNB and BOE followed by the BOJ on Friday.The SNB and BOE are expected to deliver a 25 bps rate hike respectively while the Fed is expected to stand pat and stay on the sidelines. Meanwhile, the BOJ isn’t expected to do anything but once again they are the ones that…