Author: FX
Share: USD/JPY is consolidating above 139.00 as Fed/BoJ policy comes into the picture. Market sentiment is quite positive as the odds of a neutral policy stance by the Fed are extremely solid. The interest rate policy by the BoJ is expected to remain unaltered as more monetary stimulus is required to keep inflation steadily above 2%. The USD/JPY pair is oscillating in a narrow range around 139.50 in the late Asian session. The asset is expected to remain on tenterhooks as investors have shifted their focus toward the United States Consumer Price Index (CPI) data, which will release…
USD/JPY is consolidating juuust under its 2023 highs ahead of this week’s FOMC event! Will we see a breakout in the next few days? Let’s take a look at the 4-hour time frame: USD/JPY 4-hour Forex Chart by TV As you can see, USD/JPY is having trouble making new highs after hitting (and getting rejected at) the 141.00 psychological handle. Interestingly, the consolidation is forming what looks like an ascending triangle pattern on the 4-hour time frame. But wait, there’s more! The 100 SMA is also hanging around USD/JPY’s current prices, and both the 100 and 200 SMAs are still…
We’re in for a busy week as we try to price in the Fed, ECB, and BOJ’s monetary policy decisions. Meanwhile, data releases from China could affect intraweek trends for AUD, NZD, and even JPY. 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 economic indicators on the economic calendar this week: U.S. inflation reports Before the Fed publishes its June policy decision, its members will have a look at Uncle Sam’s inflation numbers on June 13 (Tuesday) at 12:30 pm GMT.…
© Reuters. FILE PHOTO: A man walks past an electric monitor displaying Japan’s Nikkei share average and recent movements, outside a bank in Tokyo, Japan, June 5, 2023. REUTERS/Issei Kato By Lewis Krauskopf (Reuters) – A look at the day ahead in Asian markets from Lewis Krauskopf. Asian markets will turn their attention to a series of central bank meetings after ending last week on a buoyant note. MSCI’s gauge of world stock markets on Friday hit its highest point in 13 months. Wall Street was upbeat as the notched its fourth straight weekly gain and a 20% rise from…
I had this earlier from Bank of America on their Federal Open Market Committee (FOMC) outlook:With high inflation sticky, BoA argue the risk is for further Fed rate hikes:”We remain bearish; still think biggest ‘pain trade’ next 12 months Fed funds 6% not 3%,”BoA add that investors have become too bullish and characterize January – March asand April to June asSay on narrow breadth, S&P breaking out bull market bubbly (though ex-Magnificent 7 up more sober 1% YTD)And, the”Fed ain’t done with hikes… we stick with ‘sell the last rate hike’ call,” Source link
Share: GBP/USD consolidates its recent gains to a multi-week high and oscillates in a range on Monday. Expectations for more BoE rate hikes continue to underpin the GBP and lend support to the pair. Traders now seem reluctant to place aggressive bets ahead of this week’s key data/event risks. The GBP/USD pair kicks off the new week on a subdued note and consolidates its recent gains to a one-month high touched on Friday. Spot prices trade around the 1.2575-1.2580 region, nearly unchanged for the day through the Asian session as traders await this week’s important macro data and the…
© Reuters. FILE PHOTO: A man walks while smoke rises above buildings after aerial bombardment, during clashes between the paramilitary Rapid Support Forces and the army in Khartoum North, Sudan, May 1, 2023. REUTERS/Mohamed Nureldin Abdallah By Khalid Abdelaziz and Mohamed Nureldin KHARTOUM (Reuters) -Heavy clashes and artillery fire erupted across Sudan’s capital Khartoum on Sunday and residents reported air strikes soon after the end of a 24-hour ceasefire that had brought a brief lull to eight weeks of fighting between rival military factions. Witnesses said the fighting between the army and the paramilitary Rapid Support Forces (RSF) was some…
sasirin pamai Investors and economists are expecting the Federal Reserve to end a string of 10 straight rate hikes on Wednesday by keeping its policy rate unchanged on Wednesday. But don’t call it a pivot or even a pause. The Fed officials’ preferred term is “skip,” suggesting that they’ll skip a rate increase at the June meeting in order to assess the impact of the the five percentage points of tightening they’ve already done. It will also give them a chance to see if this Spring’s bank stresses will do some of the work for them. The market expects a…
keni1 Glencore (OTCPK:GLCNF) (OTCPK:GLNCY) has approached Teck Resources (NYSE:TECK) over buying its coal assets, providing an alternative to Glencore’s original proposal for a full-blown merger of the two companies, The Wall Street Journal reported Sunday. Glencore’s (OTCPK:GLCNF) (OTCPK:GLNCY) original merger offer reportedly is still on the table, but the miner has indicated to Teck (TECK) that it would also be willing to buy just the coal business if that is the only asset up for sale. Glencore (OTCPK:GLCNF) (OTCPK:GLNCY) has said it could revise its ~$23B bid for the whole company if Teck (TECK) would engage on a potential transaction,…
Goldman Sachs Goldman Sachs Goldman Sachs is a multinational investment bank and financial services company headquartered in New York City. It was founded in 1869 and is one of the largest and most well-known investment banks in the world.Goldman Sachs has a mixed reputation. On one hand, it is known for its expertise in investment banking and its role in many high-profile financial deals. On the other hand, it has faced criticism and controversy over the years, including accusations of unethical business practices and con Goldman Sachs is a multinational investment bank and financial services company headquartered in New York…