Author: FX

Treasuries are mostly underperforming Europe where rates have also  climbed on the ECB’s hike and as President Lagarde stressed the Bank is not pausing. US equity futures are in the red with the US30, US500 and US100 close to yesterday’s lows. Shares of PacWest Bancorp are trading down -$2.67 or -41.59%.  The USDIndex has risen to 101.37 thanks to the data, from 100.74, having slumped yesterday on the FOMC. EURUSD is holding above the 1.10 mark and overall the reaction has been pretty mixed so far. ECB slows the pace with 25 bp hike. The as expected decision brings the main refinancing rate to 3.75%, and the deposit rate to 3.25%. The initial…

The major US bank in the US are opening lower led by regional bank declines. The KRE ETF is trading down $1.22 or -3.17%. Shares of PacWest Bancorp are trading down $-2.67 or -41.59%. Shares are halted for volatility Volatility In terms of trading, volatility refers to the amount of change in the rate of an index or asset, such as forex, commodities, stocks, over a given time period. Trading volatility can be a means of describing an instrument’s fluctuation. For example, a highly volatile stock equates to large fluctuations in price, whereas a low volatile stock equates to tepid…

Share: EUR/GBP drifts lower for the second straight day and retreats further from the weekly top. The ECB’s 25 bps rate hike fails to impress the Euro bulls or lend any support to the cross. Investors now look to ECB President Lagarde’s comments for some meaningful impetus. The EUR/GBP cross extends the overnight retracement slide from the 0.8835 region, or the weekly low and remains under some selling pressure for the second successive day on Thursday. The cross remains on the defensive below the 0.8800 mark through the mid-European session and moves little after the European Central Bank…

GBP/USD and EUR/GBP Prices, Charts, and AnalysisA mildly dovish Fed rate hike allows cable to move higher.All options are open for the ECB later today. Recommended by Nick Cawley Get Your Free GBP Forecast Most Read: British Pound Week Ahead: GBP/USD and EUR/GBP Will Dance to Different MusicThe US central bank raised the Fed funds to 5.25% yesterday, the highest level seen since September 2007 but a change in the post-decision language suggests that the Fed may put on hold any further increases in the borrowing rate. Fed chair Jerome Powell swapped out the existing statement of ‘some additional policy…

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Asian stock markets traded mixed, US futures are moving higher, while European futures are in the red. A somewhat mixed picture then, as markets digest the Fed announcement, while keeping a wary eye on financial conditions. A 25 bp hike had long been priced in, while the shift in the policy statement was also in line with expectations. The Fed kept all options open for the next meeting and the ECB is likely to do the same after delivering another hike today. Heightened caution at central banks also reflects the fact that bank jitters continue…

I’m seeing this classic break-and-retest setup already playing out on the hourly chart of NZD/JPY. Is it too late to hop in or is there still plenty of room for the pair to climb? As you can see from the chart below, price is just starting to find some buyers at the area of interest and Fibonacci retracement level. NZD/JPY 1-hour Forex Chart by TV In particular, NZD/JPY is bouncing off support at the 50% Fib, which is right around a former resistance zone. A larger pullback could still take it down to the 61.8% retracement level closer to the…

AUD/CAD has taken a chill pill from its downtrend and it looks like it’s still waiting for its next direction! Think this 4-hour range resistance will hold for another day? Take a look! AUD/CAD 4-hour Forex Charts by TV In case you missed it, AUD/CAD started a downtrend in mid-January and is now trading about 500 pips from its 2023 highs. Fast forward to today and AUD/CAD looks like it’s trading in a range. For one thing, the simple moving averages (SMAs) are moving in a flat direction instead of tilting downwards. For now, AUD/CAD is consolidating just under the…

The European Central Bank monetary policy meeting for May 2023 is today, Thursday, 4 May 2023.decision statement is due at 1215 GMT, which is 0815 US Eastern timeEuropean Central Bank President Lagarde’s press conference follows at 1245 GMT, 0845 US Eastern timeAn update from ABN-Amro on their forecast for what to expect:Two important economic reports published today, the ECB’s Bank Lending Survey and the April inflation report, make us comfortable with our view that the ECB will slow down the pace of rate hikes to 25bp on 4 May. The ECB Bank Lending Survey (BLS) for 2023Q1 showed that eurozone…

Share: USD/CHF has faced an intense sell-off as the Fed delivered neutral interest rate guidance. The USD Index looks vulnerable above 101.07 as fears of the US debt ceiling issue are accelerating swiftly. US Treasury has already conveyed that it will be out of funds by early June. The USD/CHF pair witnessed massive offers from investors on Wednesday as the Federal Reserve (Fed) delivered neutral guidance after hiking interest rates by 25 basis points (bps) to 5.00-5.25%. The Swiss Franc asset has refreshed its two-year low at 0.8820 and is expected to display more downside as the US…