Author: FX
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…
Who else is looking to trade Friday’s U.S. NFP release? If you are and you haven’t found a forex pair to trade yet, then maybe you’ll like jumping on USD/JPY’s month-long uptrend! Here’s the 1-hour chart that I’m looking at: USD/JPY 1-Hour Forex Charts by TV May has NOT been a good month so far for USD/JPY because it got rejected from its 137.75 weekly highs and plummeted all the way to its 134.50 levels. Will there be enough dollar demand now that the pair has fallen by a bajillion pips? USD/JPY’s next direction might depend on tomorrow’s U.S. labor…
Gold, XAU/USD, FOMC, Fed Hike, US Dollar, Crude Oil, WTI, Powell, Yields – Talking PointsThe gold price sprinted north on the open today but has since pulled backThe US Dollar and Treasury yields have slipped lower as markets eye lower ratesThe Fed decision has come and gone, but there might be more ramifications for XAU/USD Recommended by Daniel McCarthy How to Trade Gold Gold ramped higher after the North American close today at the same time that the crude oil price fell in a heap. The moves come after the Federal Open Market Committee (FOMC) raised its target rate by…
marrio31 Johnson & Johnson (NYSE:JNJ) spinout Kenvue (KVUE) upsized its hotly anticipated initial public offering, pricing shares at the upper end of its previously issued range to raise $3.8B. Kenvue, which was J&J’s consumer products division, offered 173M shares at $22 per share. Underwriters were granted a 30-day option to buy up to 26M additional shares to cover over-allotments. Shares are expected to begin trading on NYSE under the symbol KVUE on Thursday, May 4. After the IPO closes, J&J will own 91% of Kenvue’s outstanding common stock or 90% if the underwriters exercise their option in full. Goldman Sachs,…
The USDIndex witnessed a modest decline on Wednesday of -0.59%. Lower T-note yields on Wednesday weakened the US Dollar. Also, the lack of clarity regarding the US debt ceiling weighed on the dollar after Treasury Secretary Yellen said the Treasury may run out of cash to pay its bills as soon as 1 June, unless the debt ceiling is raised. The dollar maintained a modest decline on Wednesday despite the Fed raising rates by 25 bp in line with forecasts, as well as economic data that tended to favour the dollar. April ADP employment change rose +296,000, stronger than expectations…
© Reuters. A China Eastern Boeing 777-300ER plane departs from O’Hare International Airport in Chicago, Illinois, U.S. November 30, 2018. REUTERS/Kamil Krzaczynski/File Photo WASHINGTON (Reuters) – The U.S. Transportation Department (USDOT) on Wednesday issued an order approving Chinese airlines to increase their U.S. passenger services to 12 weekly round-trip flights — a figure equivalent to the total number of flights Chinese aviation authorities will allow for U.S. carriers. The three U.S. carriers currently operating scheduled passengers service in the U.S.-China market — American Airlines (NASDAQ:), Delta Air Lines (NYSE:), and United Airlines — will be approved to operate four weekly round-trip flights between the United States…
Will the U.S. non-farm payrolls (NFP) report turn around the recent negative vibes in the Greenback? Here are a few data points to know if you’re planning on trading the event: Event in Focus: U.S. Monthly Employment Situation Summary from the U.S. government for April 2023 When Will it Be Released: May 5, Friday: 12:30 pm GMT, 1:30 pm London, 8:30 am New York, 9:30 pm Tokyo Expectations: U.S. Non-Farm Payrolls Change m/m: 190K forecast vs. 236K previous U.S. Average Hourly Earnings m/m: +0.3% m/m forecast vs. 0.3% m/m previous U.S. Unemployment Rate: 3.6% forecast vs. 3.5% previous Based on…
CIBC on the Fed decision Wednesday, this in brief:This is a hawkish pause, as the committee says it will be looking for signals on the need for additional firming, rather than a balanced statement that would have referenced potential moves in either direction. Similarly, the statement highlighted that policymakers are “highly attentive” to inflation risks, with no similar statement on recession risks. When asked about recession risks, Powell said that it was his view that the economy would still see modest growth over the rest of the year, and he therefore does not foresee a recession. But if, as we…
Share: US Dollar came under renewed selling pressure on Wednesday. Dovish Fed tone weighs on US Treasury bond yields and force US Dollar lndex to push lower. FOMC Chairman Powell refrained from committing to a pause in the tightening cycle. The US Dollar (USD) struggled to find demand during the American trading hours on Tuesday and the US Dollar Index (DXY) snapped a three-day winning streak. The USD stays under heavy selling pressure mid-week and the DXY trades deep in negative territory as investors lean toward a dovish tilt in the Federal Reserve’s (Fed) policy outlook. Although the Fed raised…