Author: FX

© Reuters. FILE PHOTO: The offices where the London Metal Exchange is headquartered are seen in the City of London, Britain, January 18, 2018 REUTERS/Peter Nicholls/File Photo By Pratima Desai LONDON (Reuters) -Britain’s financial watchdog is blocking the restart of London Metal Exchange nickel trade in Asian hours due to doubts about the LME’s ability to run an orderly market in that time zone, three sources with knowledge of the matter said. The world’s largest metals trading exchange was forced to suspend all nickel activity for eight days in March 2022, after prices spiked more than 50% during Asian trading…

Japanese Yen, USD/JPY, Bank of Japan, US CPI – Asia Pacific Market OpenJapanese Yen gains as breaking story hints at further BOJ policy tweakFollow-through may be difficult to achieve until after US CPI data passesUSD/JPY falls, but key support zone remain, pausing the downtrend Recommended by Daniel Dubrovsky Get Your Free JPY Forecast Asia-Pacific Market Briefing – Japanese Yen Gains on Further Possible BoJ Policy ShiftThe Japanese Yen gained about 0.5 percent during the early hours of Thursday’s Asia-Pacific trading session. Reports crossed the wires from Yomiuri Shimbun, one of the top 5 major newspapers in Japan, that the Bank…

The news is here:Report – The BOJ will review the side effects of easy policy next weekUSD/JPY topped back in October last year and has been under pressure ever since as rumours of change to Bank of Japan policy have solidified and indeed the Bank ‘tweaked’ its YCC policy at the December meeting. This latest report is more of the same. ‘Tweaks’ and change to Bank of Japan policy is a tailwind for the yen, as we’ve been posting for months. USD/JPY update on the latest report linked above:The Bank of Japan meet next week, January 17 and 18. ADVERTISEMENT…

CPI S&P 500, Volatility, EURUSD, Yields and Earnings Talking Points:The Market Perspective: S&P 500 Bearish Below 3,800; USDCNH Bearish Below 7.0000Over the past three months, one of the top market-moving events in the major macro docket has been the US CPIThe past few inflation updates have initiated strong S&P 500 rallies and Dollar struggle, but what is the capacity for that same charge this time around? Recommended by John Kicklighter Get Your Free Top Trading Opportunities Forecast There is no mistaking the market’s appreciation for inflation data coming out of the United States and other major economies. The indicators aren’t…

Tabla 1: Aumentos de tasas de la Fed en 2022 Fuente: Forbes.com The Mexican Peso advanced on Wednesday to levels not seen in almost three years (February 21, 2020) as investors keep an eye on the key US inflation report due out later today (Thursday). Fed members have said Thursday’s CPI data will help decide the pace of interest rate hikes at their next meeting. The last increase was 50bp, already slowing down the 75bp streak. Aumentos de tasas de la Fed en 2022 Fuente: Forbes.com At the next meeting on February 1st, the vast majority of investors (+80%) expect…

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(Reuters) – Forces from Russia’s Wagner Group on Wednesday found the body of one of two British voluntary aid workers reported missing in eastern Ukraine, the private military firm said in a statement. It did not mention the name of the dead man but said documents belonging to both Britons had been found on his body. A photo posted alongside the statement appeared to show passports bearing the names of Andrew Bagshaw and Christopher Parry, the two missing workers. Ukrainian police said on Monday they were looking for the pair who went missing in east Ukraine, the scene of heavy…

The New Zealand Dollar failed to gain traction despite a risk-on impulse. US Dollar remains soft amidst growing speculations for a soft US CPI print. China’s reopening could bolster the NZD outlook in the near term. The NZD/USD prints successive series of doji’s, suggesting that neither buyers nor sellers are in charge, ahead of Thursday’s US Consumer Price Index (CPI) release. Hence, the NZD/USD is trading at 0.6374 above its opening price after hitting a daily high of 0.6388. Wall Street is set to finish the session with solid gains between 0.56% and 1.24%. The NZD/USD remains in choppy trading as…

Bank of America Global Research provides a recap of FX in 2022 through the lens of time zone analysis. For this exercise, BofA split a 24-hour day into 3 different time zones: Asian hours from midnight GMT to 8am GMT, European hours from 8am GMT to 1pm GMT, and American (US) hours from 1pm GMT to midnight GMT. BofA then calculated the cumulative return of the year for each time zone.”Through 2022, Europe-based investors built a large inventory of long USD positions, which have likely not yet been fully capitulated. With the Fed inching close to terminal federal funds rate,…

While below 0.6950, the bias for AUD/USD is to the downside for the near term. A break of 0.6870 will open the risk of a move into the 0.6800 figure and the targetted area between 0.6791 and 0.6748.  US Dollar is also poised for a move higher as per the daily M-formation. Despite hot domestic economic data that reinforced the case for further increases in interest rates from the Reserve Bank of Australia, AUD/USD has failed to hold onto the knee-jerk gains. At the time of writing, AUD/USD is treading water at 0.69 the figure. The pair has moved between a range…