Author: FX
RAND ANALYSIS & TALKING POINTSChinese optimism carries ZAR this morning as risk on sentiment prevails.Key inflection point looming on daily USD/ZAR chart. Recommended by Warren Venketas Get Your Free USD Forecast USD/ZAR FUNDAMENTAL BACKDROPThe South African rand opened the week on the front foot once again looking for its fourth straight week of weekly gains. Locally, loadshedding (blackouts) have somewhat diminished allowing for businesses to run more efficiently and if this trend is to continue the rand may gain additional traction. Overall the economy remains weak but the SARB has ensured an attractive carry trade for investors looking for added…
The Swiss National Bank will raise interest rates by 25 basis points on June 22, defying market expectations for a larger move, according to economists polled by Reuters who said the bigger risk was rates will peak higher than they expect.An overwhelming majority of economists, 30 of 33, polled June 15-19 said the SNB will raise its key policy rate by 25 basis points to 1.75%, less than the 50 basis points it delivered in March”We think the SNB will deliver another 25bp hike in June, with a risk for 50bp…and, while still data dependent, this is probably the last…
Share: In the view of Markets Strategist Quek Ser Leang at UOB Group, USD/IDR could advance to the 15,015 level in the near term. Key Quotes Last week, we held the view that USD/IDR “is likely to edge lower but a sustained drop below 14,740 is unlikely”. Our view was incorrect as USD/IDR rose to high of 14,960. USD/IDR opened on a firm note in Asian trade today and it is likely to rise further to 15,015 this week. The next resistance at 15,045 is unlikely to come under threat. Support is at 14,925, followed by 14,850. …
POUND STERLING ANALYSIS & TALKING POINTSUK CPI expected to come in hotter, exacerbating inflationary pressures.Market pricing may be overkill leaving room for a GBP correction.Overbought signal on cable could point to a pound selloff. Recommended by Warren Venketas Get Your Free GBP Forecast GBPUSD FUNDAMENTAL BACKDROPThe British pound has held on to it’s gains from last week, despite being marginally weaker against the US dollar. This comes on the back of a hawkish rhetoric surrounding the Bank of England (BoE)’s upcoming interest rate decision (see economic calendar below). Recent robust jobs data and elevated inflation levels will most likely keep…
GBP/AUD just got rejected from a key inflection point! Will this mean a longer-term reversal for the pair? I’m looking at the 1-hour chart for clues! GBP/AUD 1-hour Forex Chart by TV A couple of hours earlier, GBP/AUD got rejected and turned lower from the 1.8750 minor psychological handle. And why not? As you can see, 1.8750 is right around the R1 (1.8720) of today’s Standard Pivot Points. More importantly, it’s also near a previous support and resistance level that now marks a possible range resistance zone for GBP/AUD. Will this mean more GBP losses against AUD? The bearish divergence…
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© Reuters. A London bus passes by the Bank of England building, in London, Britain November 3, 2022. REUTERS/Toby Melville/File Photo (Reuters) -The Bank of England is facing a stormy gilts market while Turkey’s new governor is expected to ramp up rates sharply at central bank meetings this week. There’s a fresh read on the health of the world economy in the offing, while key policy makers are hitting the road, with U.S. Secretary of State Antony Blinken wrapping up talks in Beijing, while London and Paris are hosting some big summits. Here’s a look at the week ahead in…
There have been plenty of stimulus announcments from China last week:And more are expected to come:On Tuesday, 20 June 2023 we get the next policy move from the People’s Bank of China, an expected cut to LPRs. Currently LPR rates are: 3.65% for the one year 4.30% for the five yearING are looking for cuts to both:Loan prime rates in China are set to track the recent cut from the People’s Bank of China (PBoC). Thus, we are looking for the 1Y loan prime rate to fall to 3.55% (from 3.65%) and the 5Y loan prime rate to settle at…
We’ve got another round of central bank decisions lined up, plus a fresh batch of PMI readings before the end of the week. What are traders expecting for the BOE and SNB monetary policy statements? 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 calendar this week: U.K. CPI report Before BOE Governor Bailey and his fellow policymakers take the stage, the U.K. economy will be printing its May CPI figures on Wednesday, June 21 6:00 am GMT.…
Share: USD/CAD renews intraday high as it recovers from yearly low during Juneteenth holiday-inspired sluggish trading. Oil Price drops amid fears of less demand from China. US Dollar justifies hawkish Fed talks, ignores mixed US data to extend Friday’s corrective bounce. Fed Chair Powell’s Testimony, preliminary PMIs for June appear crucial for clear directions during holiday-shortened week. USD/CAD picks up bids to consolidate the recent losses around the yearly low, refreshing the intraday top near 1.3215 amid early Monday. In doing so, the Loonie pair snaps a two-day downtrend while justifying the broad US Dollar recovery, as well…