Author: FX

Share: Economists at Commerzbank analyze the Fed’s approach to CBDC (central bank digital currency). The accounts which banks hold with the Fed already constitute this castrated form of CBDC The original idea of CBDC was to offer the public a digital form of central bank money. Powell declined that. That makes one thing clear: the accounts which banks hold with the Fed already constitute this castrated form of CBDC.  The fact that Powell continues to talk about wanting to ‘introduce’ CBDC is in my view a marketing gag that misleads the public who is not educated in monetary…

Gold Prices Still Struggling, BoE Shows Global Rates Have Further to RiseIt’s clear that rate rises are far from over, either outside the US or within.The Bank of England has just provided clear evidence that central banks have work to do. Recommended by David Cottle How to Trade Gold Gold prices fell further in Asian and European hours on Thursday despite the fact that Congressional testimony from Federal Reserve Chair Jerome Powell in the previous session didn’t live up to the markets’ more hawkish expectations. The Bank of England meanwhile raised interest rates by a bigger-than-forecast margin, keeping the market…

Haemonetics wins FDA nod to advanced NexSys PCS plasma collection system Source link

GBP/USD Prices, Charts, and AnalysisUK Bank Rate hiked by 50 basis points to 5%.BoE will hike further if inflationary pressures persist. Recommended by Nick Cawley How to Trade GBP/USD The Bank of England lifted the Bank Rate by half-a-percentage point today to 5%, the highest level in 15 years. The committee voted by 7-2, with Swati Dhingra and Silvana Tenreyro voting to keep rates at 4.5%. The MPC said that they would ‘continue to monitor closely indications of persistent inflationary pressures in the economy as a whole, including the tightness of labour market conditions and the behaviour of wage growth…

Who’s looking at GBP pairs ahead of the BOE’s decision? If you are, then y’all better take a look at a potential break and retest play on GBP/CHF’s chart! Before moving on, ICYMI, yesterday’s watchlist looked at NZD/CAD’s recent breakout for a break-and-retest opportunity. Be sure to check out if it’s still a good play! And now for the headlines that rocked the markets in the last trading sessions: Fresh Market Headlines & Economic Data: Canada Retail Sales for April 2023: +1.1% m/m (+0.2% m/m forecast; -1.5% m/m previous); core retail sales was +1.3% m/m (+0.2% m/m forecast; -0.4% m/m…

Monetary tightening has strengthened Swiss francStill, underlying inflation pressure has risen furtherThere is a danger inflation may become entrenched above 2%Inflation caused by higher rents not a reason to refrain from future rate hikesThey are certainly keeping the door open for higher rates and the remarks are making that evidently clear. Maechler is also chiming in with some comments as per below:SNB has sold foreign currencies in recent quartersWill continue that if this is appropriate for monetary policyRemain ready to buy foreign currencies if there is excessive franc appreciationIn terms of FX market activity, the first thing we will see…

USD/JPY is slowly but steadily making higher highs! I don’t know if you noticed, but USD/JPY recently broke above a weeks-long consolidation before making higher highs and higher lows on the 1-hour time frame. And why not? Anticipation and then confirmation of a (still) hawkish Fed contrasted with the Bank of Japan (BOJ) sticking to its current policies despite higher wages and consumer prices. The disparity between the Fed and the BOJ’s monetary policies gave market bulls the confidence to buy more USD against JPY. USD/JPY 1-hour Forex Chart by TV Since last week, USD/JPY has climbed from its 139.00…

Share: In its monthly assessment report, the Japanese Cabinet Office upgraded its view on the country’s employment situation for the first time in 11 months, noting that the “employment trends showed “improvement recently.” Additional takeaways Economy is “recovering moderately”, keeping overall view unchanged in latest assessment. But it also remained cautious about the potential risks of a global economic slowdown, price increases and financial market volatility. Both private consumption and capital spending were “picking up”, the June report said, maintaining the assessment from May. Corporate profits as “improving moderately overall”. Market reaction USD/JPY is holding steady near 141.85,…

Medexus Pharmaceuticals reports Q4 results Source link

Is the Greenback in for more losses? Check out this reversal formation I’m watching on the 4-hour chart of USD/CHF. The pair is close to completing a head and shoulders pattern, as price is closing in on the neckline support at the .8900 major psychological mark. USD/CHF 4-hour Forex Chart by TV Just how low can USD/CHF go if it breaks below the neckline? Well, the chart pattern spans approximately 250 pips, so we might just see a selloff that’s the same height! Technical indicators are still reflecting the presence of bullish vibes, though. In other words, there’s a chance…