Author: FX
The Hong Kong Monetary Authority is Hong Kong’s central bank.Raises its base rate to 5%, up 25bp. The HKD is pegged to the USD, the HKMA follows FOMC rate moves as a matter of course. The HKD trades in a band linked to the US dollar prescribed by the HKMA. You can see the limits of the band in the chart below. Source link
GBP/JPY prolonged its agony and dropped for the third time in the week below 160.00. GBP/JPY Price Analysis: Break below 159.50 exacerbated a fall towards 158.90, the week’s low. The British Pound (GBP) failed to gain ground vs. the Japanese Yen (JPY) on Wednesday after the US Federal Reserve (Fed) hiked rates by 0.25%, a signal perceived by market participants as dovish. A reflection of that is Wall Street’s finishing with solid gains. At the time of writing, the GBP/JPY exchanges hand at 159.39 as the Asian session begins. GBP/JPY Price Analysis: Technical outlook Technically speaking, the GBP/JPY remains downward…
USDINDEX, Daily USDIndex, Daily The US dollar index fell to a 9-month low amid dovish comments from Fed Chair Powell that sent bond yields tumbling and sparked a rally in stocks, dampening demand for the dollar. The index lost -0.89% in yesterday’s trading. The US 10-year Treasury yield fell to 3.39% on Wednesday, approaching a low not seen since April last year, as investors digested the latest FOMC statement and the Fed Chair’s comments. However, the FOMC language appeared more dovish, as officials now see inflation easing somewhat. https://tradingeconomics.com/united-states/government-bond-yield The FOMC, as expected, raised the Fed’s funds target range by…
FOMC Rate Decision, Nasdaq 100, VIX, US Dollar and EURUSD Talking Points:The Market Perspective: USDJPY Bullish Above 132.00The FOMC rate decision ended as expected with a 25bp hike to a range of 4.50-4.75 percent, but the reiterated warnings of further hikes ahead didn’t sway the marketsA Dollar tumble seems caught up in rate cut speculation and the drop in the VIX, but uneven fundamentals raise questions on the trend and an ECB decision makes EURUSD a high risk Recommended by John Kicklighter Get Your Free Top Trading Opportunities Forecast Speculative traders in the broader markets seem to be satisfied in…
Gladstone Investment stock rises 2% postmarket on Q3 earnings beat Source link
© Reuters. FILE PHOTO: An eagle tops the U.S. Federal Reserve building’s facade in Washington, July 31, 2013. REUTERS/Jonathan Ernst/File Photo By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – The Federal Reserve raised its target interest rate by a quarter of a percentage point on Wednesday, yet continued to promise “ongoing increases” in borrowing costs as part of its still unresolved battle against inflation. “Inflation has eased somewhat but remains elevated,” the U.S. central bank said in a statement that marked an explicit acknowledgement of the progress made in lowering the pace of price increases from the 40-year highs…
The broader broader US stock indices Indices Stock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important investors as they help compare current price levels with past prices to calculate market performance.The main two parameters for indices are that they are both investable and transparent. For example, investors can invest in a stock market index by buying an index fund, which is structured as either a mutual fund or an exchange-traded fund, and track Stock market indices represents an index that measures a particular stock market or…
USD/JPY was rejected at the 20-day EMA and collapsed as the Federal Reserve increased rates by 25 bps. Federal Reserve officials stated that more increases would be appropriate in 25 bps increments. Powell’s disinflationary comments tumbled US Treasury bond yields and sent the US Dollar into a tailspin. USD/JPY is plummeting sharply after the US Federal Reserve decided to slow down the pace of rate increases and hiked rates by 0.25% on their first monetary policy meeting of 2023. Therefore, the US 10-year Treasury bond yield is plunging more than ten bps toward 3.40% as the market responds to the…
BlackRock Short Maturity Municipal Bond ETF declares monthly distribution of $0.1582 Source link
FOMC, Dollar, S&P 500, ECB and BOE Rate Decision Talking Points:The Federal Reserve hiked its benchmark rate 25bps to a range of 4.50 – 4.75 percentThe US benchmark is higher than its principal global counterparts, but that advantage has been previously priced inIn the policy statement that accompanied the decision, the group said ‘anticipates that ongoing increases…will be appropriate’ Recommended by John Kicklighter Trading Forex News: The Strategy The Federal Open Market Committee (FOMC) announced a 25 basis point increase in its benchmark rate range to 4.50 – 4.75 percent. The increase was a further step down in pace from…