Author: FX
Economic data from the U.K. came in all green today, so I’m looking at this opportunity to catch Guppy’s uptrend! Do you think this ascending channel will hold? Before moving on, ICYMI, I’ve listed the potential economic catalysts that you need to watch out for this week. Check them out before you place your first trades today! And now for the headlines that rocked the markets in the last trading sessions: Fresh Market Headlines & Economic Data: U.K. Dec Rightmove HPI printed 2.1% m/m slump in house prices China removes official COVID tracking app Japanese Nov preliminary machine tool orders fell…
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GBPUSD (D1) GBPUSD fell to near 1.2200 after failing to break above resistance at the 1.2300 level, and currently sits at 1.2270, as market sentiment took a more conservative direction ahead of the monetary policy meeting. The US Federal Reserve (Fed) may be less inclined to optimism following the release of October’s inflation report as well as the PPI data coming in line with forecasts. This result benefits the Dollar, which however failed to hold above the key resistance level of 105.00, the Futures price being at the level of 104.77. The S&P500 took a beating on Friday and is…
Other major central banks are printing their December policy decisions, but none will get as much attention as the Federal Open Market Committee (FOMC) event this week. Feel like trading the Fed’s policy decision on Wednesday at 7:00 pm GMT? Here are five points you need to know first: Pricing in could start as early as the CPI release Some traders have probably priced in their FOMC projections as early as the NFP and PPI report releases but expect more volatility after the U.S. consumer price index (CPI) is printed on Tuesday. Markets see inflation slowing down from 7.7% to…
The Kiwi ended the week back above 0.64, and while it didn’t reclaim Monday’s highs, it’s still the best-performing G10 currency month to date. Economists at ANZ Bank expect volatility this week. NZD seasonality is usually positive in December “NZD seasonality is usually positive in December, but while it has that and higher interest rates in its corner, there are no guarantees that it will finish this week un-bruised, with several central bank meetings due.” “Volatility beckons ahead of the Fed meeting, which is expected to be hawkish, with a 50 bps hike and a much higher terminal rate (2023)…
The USD Index holds at 105.00 from lows on Friday at 104.50, following hot PPI data and strong consumer sentiment. Stocks fell into close on Friday (Dow the weakest -0.9%) and down 2.85-4.0% last week (Nasdaq weakest) threatening the Santa Rally. Yields rallied over 2% on Friday, 10yr closed at 3.567% trades at 3.55% today. Asian markets & European FUTS are also lower as Chinese Covid infections rise as restrictions are eased. BIG week ahead. Week Ahead – US CPI and the FOMC dominate matters but 10 other Central Banks update markets this week including ECB…
Japan -0.21%.November Japanese PPI +9.3% vs +8.9% y/y expected. China -0.67%. Hong Kong -2.04%. Australia -0.45%. India -0.08%. The major averages fell on Friday to clinch a losing week, snapping a two-week winning streak for Wall Street. The Dow fell 2.77%, suffering its worst stretch since September. The S&P 500 fell 3.37%, suffering its worst stretch since September. The Nasdaq composite fell 3.99%, suffering its worst weekly stretch in a month. New Zealand net migration +3,343 vs +2,176 prior. On Monday, India is scheduled to release inflation and industrial output data. Oil prices rose more than 1% on Monday as…
2/2 © Reuters. FILE PHOTO: Bikes of the fast grocery deliverer Gorillas in Rotterdam, Netherlands February 8, 2022. Picture taken February 8, 2022. REUTERS/Piroschka van de Wouw/File Photo 2/2 By Toby Sterling AMSTERDAM (Reuters) -Grocery-in-minutes company Getir’s $1.2 billion deal to buy rival Gorillas is an important step toward consolidation in Europe’s food delivery market, where companies are struggling amid a post-COVID slowdown. After rapid expansion, these businesses were hit in March with a fall in lockdown-driven demand for deliveries and by rising interest rates, while investors soured on loss-making tech companies. The food delivery groups began quickly combining, cutting…
I’m keepin’ it simple with a couple of fresh range setups on the daily charts of GBP/NZD and the FTSE 100 index this week. Oh, and don’t forget this CHF/JPY resistance test! Better keep your eyes on these key levels: CHF/JPY Daily Forex Chart Missed the breakdown on CHF/JPY? You might still have a chance to catch the potential long-term reversal, as the pair is pulling up to the former trend line support. The Fib retracement tool shows that a nearby area of interest lines up with the 38.2% to 50% levels, so sellers might also be hanging out around…
It’s a busy week for market players everywhere as we price in FOUR central bank decisions and a few key inflation and labor market reports. Think you’re ready to trade this week’s catalysts? 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 potential market movers this week: Major Economic Events: UK’s labor market data (Dec 13, 7:00 am GMT) – The U.K. will kick off the top-tier data parade with a possible cooldown in the labor market in November as employers start…