Author: FX
USD/CNH dailyI tend to think the only thing that matters in global markets right now is the latest candle in USD/CNH.We got a report today that China told banks to escalate yuan intervention and the market is taking that as a sign that a further significant devaluation (like in 2015) is off the table.At the same time, China problems continue to worsen. Today we learned that China trust company Zhongzhi is planning a debt restructuring and it looks like debt problems are cascading. Moreover, it looks like the central government doesn’t want to bring out the bazooka. We got a…
Share: The US Dollar took another leg stronger after the release of the minutes from the FOMC meeting in July. Economists at MUFG Bank analyze USD strength and its implications for the USD/JPY pair. The short-term bias remains favourable for the Dollar The short-term bias remains favourable for the Dollar and the minutes and the data support that view. The further strengthening of the Dollar has brought USD/JPY into the danger zone for intervention to halt the move higher. Resistance to a higher USD/JPY could at least involve allowing the 10-year JGB yield to drift further higher. You…
USD/JPY, EUR/JPY FORECAST:Your Free Guide to the Yen for the Rest of Q3 Below Recommended by Zain Vawda Get Your Free JPY Forecast MOST READ: Finance Minister Suzuki Sticks to Script as EUR/JPY, USD/JPY AdvanceThe Yen has held firm this morning against the Euro and the Greenback as USD/JPY reaches overbought territory. A possible retracement lies ahead but will it be another shallow pullback before bulls seize control once more? It appears so with no change from the BoJ and a hawkish tone from the Fed Minutes release USD/JPY looks to be in for an interesting end to the week.FED…
Hanna Lassen/Getty Images Entertainment Barbie is now Warner Bros. Discovery’s (NASDAQ:WBD) highest ever grossing domestic movie, topping $537M to overtake Christopher Nolan’s The Dark Knight, which generated $536M in 2008. The film, based on the iconic Mattel (MAT) doll, has collected over $1.2B at the global box office since its release last month, making it Warner Bros.’ (WBD) second highest grossing movie worldwide after Harry Potter and the Deathly Hallows: Part II. Barbie is also this year’s No. 2 film both domestically and internationally – only behind The Super Mario Bros. Movie (CMCSA) – and is the first film directed…
© Reuters. South Korean President Yoon Suk Yeol delivers a speech during a ceremony to celebrate the 78th anniversary of the Korean Liberation Day from Japanese colonial rule in 1945, in Seoul, South Korea, Tuesday, Aug. 15, 2023. Lee Jin-man/Pool via REUTERS/Fi By Soo-hyang Choi SEOUL (Reuters) – South Korean President Yoon Suk Yeol departed for the United States on Thursday for a summit with U.S. and Japanese leaders as the three countries seek to step up cooperation amid mounting shared concerns about China and North Korea. Yoon, a conservative, has made improving relations with Tokyo a central foreign policy…
Despite good economic data like lower core inflation, stable jobless claims, lower inflation expectations and strong consumer spending that support the soft-landing narrative, the S&P 500 just keeps on falling with very shallow pullbacks. One of the main reasons might be the non-stop rally in long term yields and real yields as it makes financial conditions tighter ultimately weighing on the stock market. The good economic data might also be interpreted as bad news because inflation might remain higher for longer requiring more tightening from the Fed. There’s no easy answer at the moment, so the technicals should be more…
Spot gold just bounced from its new intraweek lows! In case you missed it, the Fed’s recent meeting minutes showed that members are still largely concerned about Uncle Sam’s inflation trends. In fact, many expect that they’ll keep their interest rates higher for longer, if not even higher in the foreseeable future. The idea of higher interest rates for a safe haven like the USD pushed the Greenback and Treasury yields higher. Gold, which is a non-yielding safe haven, lost its shine against the dollar. XAU/USD 15-minute Forex Chart by TV This is probably one of the reasons why spot…
Share: EUR/GBP extends its losses due to better-than-expected UK inflation figures. Eurozone moderate GDP numbers were not helpful to stem Euro’s weakness. Traders await UK Retail Sales, seeking fresh insights into the interest rate decision by BoE. EUR/GBP continues to experience losses, currently trading near the monthly low at 0.8540 during the Asian session on Thursday. The EUR/GBP downward trajectory is further driven by better-than-expected inflation figures originating from the United Kingdom (UK) on Wednesday. UK’s economic indicators are potentially intensifying worries about the likelihood of interest rate hikes by the Bank of England (BoE) during the September…
Slightly stronger than expected inflation data dragged U.K. equities south this week. Can this mean a breakdown for the FTSE 100? On the 4-hour chart below, you can see that the equity index formed lower highs and found support at 7,315.00, creating a descending triangle formation. FTSE 100 Index (UK100) 4-hour Chart by TV Price is now testing the very bottom of this chart pattern and might be in for a bounce back to the top. At least that’s what technical indicators appear to be saying… The 100 SMA is above the 200 SMA to hint that support is more…
Euro, EUR/USD, US Dollar, Fed, FOMC, Treasury Yields, China, Debt Default- Talking PointsEuro bearishness appears intact for now as the US Dollar roarsThe trend in EUR/USD remains in play but a break above 1.1000 could change thatIf Treasury yields keep rising on official selling, will that sink EUR/USD? Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter EUR/USD MACRO VIEWThe Euro capitulation could be mostly attributed to a roaring US Dollar strengthening across the board of late.Overnight the Federal Open Market Committee (FOMC) meeting minutes showed a…