Author: FX

It is one of those days where there traders and investors will lack any real conviction as all eyes are on the US CPI data tomorrow. That will set the tone for broader market sentiment for the rest of the week and likely the rest of February as well.Despite the estimates siding with yet another softer report, I think the squeeze potential for either side of the trade is rather strong at the moment. After seeing the pushing and pulling in the past week or so, it seems like markets are feeling rather angsty and if the data vindicates their…

Share: USD/MXN is struggling to extend its recovery move above 18.70 amid the risk-off mood. A Reuters poll indicates that the monthly headline CPI and core inflation will escalate by 0.4%. Banxico is proving to be an inflation fighter after the departure of Gerardo Esquivel, who was considered a big dove. The USD/MXN pair is struggling to extend its recovery move above 18.70 in the early European session. The asset attempted a rebound move after refreshing the weekly low at 18.63, however, the recovery move looks less confident as the market sentiment is extremely negative. Investors have underpinned…

Who’s feeling like trading fiat currencies this week? If you are, then you’re gonna love where EUR/USD, AUD/USD, and USD/CHF are trading right now. Check out these setups found on different time frames! AUD/USD 4-Hour Forex Chart by TradingView First up is a nice and simple setup for my trend-trading friends out there. AUD/USD is trading at the .6900 zone, which is juust above an ascending channel support that’s been around since mid-October. Oh, and have I mentioned that the level was a key resistance in December and a major support in January? Technical indicators currently favor more buying as…

FactoryTh/iStock via Getty Images Freeport McMoRan (NYSE:FCX) reported late Sunday that operations at its huge Grasberg mine in Indonesia have been temporarily disrupted because of intense rains this weekend, with flooding and debris flow causing damage to infrastructure near its milling complex. Freeport (FCX) said current estimates indicate operations can be restored by the end of February, with no longer-term impact to its plans. The company said it freed 14 employees trapped in an office building because of the flood, but there were no casualties in the recovery effort. Because of the disruption, Freeport (FCX) expects Indonesia’s Q1 total sales…

© Reuters. FILE PHOTO: Passersby walk past electric monitors displaying the exchange rate between the Japanese yen against the U.S. dollar outside a brokerage in Tokyo, Japan January 18, 2023. REUTERS/Issei Kato By Wayne Cole SYDNEY (Reuters) – Asian shares slid and the dollar rose on Monday as investors hunkered down for U.S. inflation data that could jolt the outlook for interest rates globally, while accelerating or reversing the recent spike in bond yields. An air of geopolitical mystery was added by news the U.S air force had shot down an airborne object near the Canadian border, the fourth object…

Crude Oil, WTI, Brent, US Dollar, US CPI, Treasuries, USD/JPY, BoJ – Talking PointsCrude oil slid lower as market focus turns to tomorrow’s US CPIThe prospect of the Fed tightening further has underpinned yieldsIf rates go higher for longer, will a strong USD sink WTI crude? Recommended by Daniel McCarthy How to Trade Oil Crude oil gave up some ground today after making a 2-week peak on Friday. The WTI futures contract has traded under US$ 79 bbl while the Brent contract is approaching US$ 85.50 bbl.Concerns around another hot US inflation figure on Tuesday have led to speculation that…

This trading week might not be as exciting as the Super Bowl, but there are still some top-tier events worth watching. The focus will mostly be on U.S. and U.K. inflation figures, U.S. retail sales, and the Australian jobs report. 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 potential market movers this week: Major Economic Events: U.K. jobs report (Feb. 14, 7:00 am GMT) – A bit of improvement is eyed for the U.K. labor market, as the January claimant count…

A very brief snippet from BMO’s preview of Tuesday’s US CPI (due at 0830 US ET) report:(the) strong jobs backdrop will put CPI into context regardless of the print itself; after all, core inflation will either point to the ‘obvious’ need for the Fed to push further into restrictive territory or reflect the progress policymakers have made toward securing the anchor of inflation expectations. As it presently stands, investors are biased for an upside surprise versus the consensus for core-CPI of +0.4% on a monthly basis.the pain-trade is for an as-expected or lower read on consumer prices, and while that…

Share: EUR/USD seesaws around five-week low as bears take a breather. ECB’s Visco downplays rate hike bias, Fed’s Harker appears confused. Challenges to sentiment amid “unidentified objects” joins cautious mood ahead of key data to weigh on Euro. EUR/USD licks its wounds around 1.0670, after declining to the five-week low, as traders await more catalysts to confirm the latest bearish bias. Adding strength to the recovery moves could be the recent consolidation in the market’s sentiment after US General’s comments. However, the European Central Bank (ECB) official’s dovish comments contrast with comparatively upbeat statements from the Federal Reserve…

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