Author: FX
Share: BoC’s Summary of Governing Council deliberations shows members agree the economy remained clearly in excess demand. At the June meeting, the BoC raised interest rates by 25 basis points. USD/CAD trades at the lowest since August 2022. The Bank of Canada’s Summary of Deliberations from the June 7th meeting when it unexpectedly raised its key interest rate by 25 basis points to 4.75%, showed member view that with the resurgence in household spending growth, the pickup in consumer confidence, and the slowing in disinflationary momentum, monetary policy did not look to be sufficiently restrictive. The document notes…
USD/JPY OUTLOOK:USD/JPY resumes its advance and rises to its best levels since November 2022The U.S. dollar draws support from higher Treasury yields following hawkish comments from the Fed chair at a Congressional hearingPowell says that the fight against inflation “has a long way to go” and that “nearly all FOMC participants” expect to hike rates again this year Recommended by Diego Colman Get Your Free JPY Forecast Most Read: Japanese Yen Latest: USD/JPY, GBP/JPY, and EUR/JPY OutlooksUSD/JPY rebounded on Wednesday after a subdued performance in the previous session, boosted by climbing U.S. Treasury yields following hawkish comments from the Federal…
Biggest stock movers today: Patterson Companies, Peloton Interactive and more Source link
© Reuters. FILE PHOTO: US Treasury Secretary Janet Yellen (R) speaks during a meeting with Japan’s Finance Minister Shunichi Suzuki at the G7 Finance Ministers and Central Bank Governors’ Meeting in Niigata on May 13, 2023. KAZUHIRO NOGI/Pool via REUTERS/File Photo (Reuters) – U.S. Treasury Secretary Janet Yellen will press world leaders to take concrete actions at a summit this week on easing the debt burdens of low-income nations, a senior Treasury Department official said on Wednesday. Yellen will lead the U.S. delegation to the Paris meeting on Thursday and Friday. French President Emmanuel Macron also wants delegates to commit…
Anyone who has spent considerable time trading forex will tell you that there’s no “holy grail,” or one indicator, method, strategy, or system that would yield you forex trading profits 100% of the time. In fact, consistently profitable traders will more likely tell you that losing is as much part of trading as winning. But since shady brokers like to foster the idea to get people to open forex accounts and hope springs eternal for human beings, there’s no shortage of trading amateurs and pros alike who continue to believe in the one-pan plan to profitability. Here are three reasons…
Headlines:Markets:CAD leads, AUD lags on the dayEuropean equities lower; S&P 500 futures down 0.1%US 10-year yields up 2.9 bps to 3,753%Gold down 0.1% to $1,934.10WTI crude flat at $71.21Bitcoin up 2.8% to $28,966The BOE would probably wish that their policy decision this month came a week earlier, as they now look further behind the curve in trying to address the inflation problem in the UK.Headline annual inflation for the month of May was unchanged to April but core annual inflation continues to run higher. That is posing serious questions on the risk of stagflation in the UK, as monetary policy…
Share: Has the Aussie lost its sparkle? Kit Juckes, Chief Global FX Strategist at Société Générale, analyzes AUD outlook RBA rates to be 75 bps below Fed rates by year-end The decision to raise rates was a close call, and while we look for one more hike in this cycle, that is already priced into market expectations. At the end of this year, we expect RBA rates to be 75 bps below Fed rates, almost exactly what is currently priced into the market. The RBA needs to become more hawkish if we are to see AUD/USD trade back…
Article written by IG Senior Market Analyst Axel RudolphFTSE 100, DAX 40, and S&P 500 Analysis, Prices, and ChartsFTSE 100 drops on higher-then-expected CPIThe FTSE 100 has been declining since Friday’s five-week high and is being pushed lower as UK CPI comes in higher-than-expected ahead of Thursday’s Bank of England monetary policy meeting at which the central bank is expected to hike its rates for a thirteenth time, probably to 4.75%.The index is now pressing on the 200-day simple moving average (SMA) at 7,551 and the early June low at 7,546, a fall through which would open the way for…
Warning: CLMEF is at high risk of performing badly Source link
GBP/USD is turning lower after today’s U.K. inflation release! In case you missed it, the U.K.’s annual inflation came in at 8.7% in May, unchanged from April’s rate but higher than the expected 8.4% consumer price growth. It also marked the fourth consecutive month that annual prices rose more than the markets had expected. Not good for the Bank of England (BOE), which is trying its best to stabilize prices after inflation peaked at 11.1% in October. GBP/USD 15-min Forex Chart by TV The prospect of further BOE rate hikes initially boosted GBP against its major counterparts. But some traders…