Author: FX
Recommended by Diego Colman How to Trade USD/JPY USD/JPY TECHNICAL ANALYSISUSD/JPY extended its advance on Thursday, soaring nearly 0.8% to 142.93, boosted by rising U.S. Treasury yields after key Fed officials, including the FOMC chairman, voiced support for additional interest rate increases later this year as part of the ongoing fight to restore price stability and bring inflation back to the 2.0% target.Bulls have dominated the market in 2023, with the pair up more than 2.5% in June and about 9% since the beginning of the year. For now, there is no indication that they will let up any time…
The calls continue to roll in with bank after bank seeing higher rates. Goldman Sachs is now leading the calls for 50 bps in August, something the market is pegging at about a 32% chance. Next month’s CPI report will be a critical input but the tougher forecast for the BOE will be energy prices in the coming winter. Source link
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,…