Author: FX

UBS says further Fed easing, resilient growth and broadening sector support should keep U.S. equities on track for an S&P 500 move to 7,700.Summary:UBS reaffirmed its 7,700 year-end target for the S&P 500, maintaining a constructive outlook for U.S. equities.The bank expects Federal Reserve rate cuts to remain a tailwind, even as the Fed pauses its easing cycle in the near term.UBS said softening labour market conditions and contained inflation should allow further policy easing in coming months.The bank continues to favour health care stocks, despite near-term pressure from U.S. Medicare Advantage policy decisions.Cloud revenue growth and AI moving into…

Markets navigated a complex session on Wednesday as the Federal Reserve held interest rates steady in a 10-2 decision, with Chair Jerome Powell signaling no imminent policy changes while defending central bank independence amid ongoing political pressures and gold surged past $5,300 per ounce for the first time on dollar weakness. Check out the forex news and economic updates you may have missed in the latest trading session! Forex News Headlines & Data: API Crude Oil Stock Change for January 23, 2026: -0.25M (3.04M previous) Bank of Japan Monetary Policy Meeting Minutes: The minutes from the December 18–19 Monetary Policy…

Microsoft (MSFT) stock dipped 4% afterhours on Wednesday despite offering a solid beat for the fiscal second quarter of 2026. For the quarter ending in December, Microsoft earned $4.14 in adjusted earnings per share (EPS) on revenue of $81.3 billion. The EPS figure beat by $0.22, while the revenue figure rose 17% YoY and topped consensus by $1 billion.Microsoft Cloud revenue came in at $51.5 billion, up 26% YoY.Sales in Productivity & Business Processes was $34.1 billion, up 16% YoY.Revenue in Intelligent Cloud was $32.9 billion, up 29% YoY, which includes the “Azure and other cloud services” segment that saw…

The US has outlined a number of demands to Iran but the NYT reports that there is no indication from Iran that they’re giving into any of them, or even willing to negotiate them.US President ⁠Donald Trump is once again threatening that the United States is ready to launch a military attack against Iran as he demands Tehran make a deal over its nuclear programmeThe NYT reports that the US and EU officials have put three demands in front of Iran1) Permanent end to all enrichment of uranium2) Limits on the range/number of ballistic missiles3) An end to all support…

US Treasury Secretary Scott Bessent said rate decisions remain firmly in the Fed’s domain and expressed hope that policymakers would keep an open mind.Key QuotesMiran’s term could continue.It is up to the Fed on rates.I hope they will have an open mind.Have not narrowed or expanded chairman candidates.I spoke with Trump on the Fed chair on Tuesday. Fed FAQs Monetary policy in the US is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability and foster full employment. Its primary tool to achieve these goals is by adjusting interest rates. When prices are rising…

FUNDAMENTAL OVERVIEWUSD:The US Dollar continued to weaken yesterday as the bearish momentum set by the USD/JPY intervention risk remained intact. Late in the day, we got one final spike lower as Trump kind of endorsed a weak dollar by saying that he wasn’t concerned with the decline at all.The selloff in the past days wasn’t a fundamental-driven move but a “technical” one triggered by intervention risks. In general, these moves are eventually faded. The problem for the dollar is that there’s no strong reason for it to appreciate yet. Today, we have the FOMC decision where the central bank is…

The Euro is trading lower on Wednesday, changing hands at 1.1965 at the time of writing, from over four-year highs at 1.2082 hit on Tuesday. The US Dollar is picking up as the impact of US President Donald Trump’s comments, praising the US Dollar’s (USD) depreciation, diminishes, and the chances of further European Central Bank (ECB) monetary easing increase.ECB board member Martin Kocher put a lid on the Euro rally, opening the doors to a further interest rate cut in July if the common currency’s appreciation starts to undermine the bank’s inflation projections. Eurozone money markets have boosted the odds…

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CAD/JPY recently broke below a long-term trend line support and followed through with a sharp downswing. Since then, the pair has shifted into consolidation, suggesting selling pressure has cooled after the initial move lower. Will we see a break-and-retest situation? CAD/JPY 4-hour Forex Chart by TradingView The Canadian dollar has taken hits over the past few sessions after U.S. President Trump ramped up tariff threats on Canadian goods if Ottawa moves ahead with trade deals with China. At the same time, the Japanese yen has been on a tear, with currency intervention fears and safe-haven demand kicking in amid rising…

Once again, there aren’t any major expiries to take note of on the day with the full list seen below.There are some large ones for EUR/USD but they are too far away to be of any impact. The central bank bonanza is back in town with the Bank of Canada and Federal Reserve decisions coming up later today. So, those will be the more important drivers of trading sentiment in the day ahead – especially the latter.As an aside, just be wary that we could get to hear from Trump on his pick of Fed chair after the central bank…