Expectations for a rate cut will fade as coronavirus fear eases, Fed’s James Bullard says
Markets expecting an interest rate cut are reacting to the coronavirus scare and likely will reverse once the fear starts to fade, St. Louis Fed President James Bullard said Friday. Central bank officials have indicated that they are content to...
Fed’s Bostic says ‘we won’t have to do anything’ on rates, despite market expectations
Atlanta Federal Reserve President Raphael Bostic became the latest central banker to advocate a hold on interest rates, telling CNBC that he doesn’t see a need to change given current conditions. Despite the market pricing in up to two cuts...
Canadian Retail Sales Flat in December, Capping Off a Notably Disappointing Year
The information contained in this report has been prepared for the information of our customers by TD Bank Financial Group. The information has been drawn from sources believed to be reliable, but the accuracy or completeness of the information is...
USD/JPY Outlook: Pullback So Far Limited But Risk of Deeper Correction Exists
The pair pulled back from new multi-month high at 112.22 after bulls faced strong headwinds on approach to strong barriers at 112.40/41 (24 Apr 2019 high/50% retracement of 125.84/98.99 fall). The 70-pips pullback was so far rejected at 111.48, above...
European Majors Recover after UK and Eurozone PMIs
European majors recover today following better than expected PMI data from UK and Eurozone. Concerns of China’s coronavirus hasn’t materialized into business confidence data yet. On the other hand, commodity currencies are generally lower, followed by Dollar. For the week,...
The Federal Reserve thinks low rates have had only a ‘modest’ impact on stock market prices
The Federal Reserve’s extraordinary policy moves over the last 12 years have marched arm in arm with the biggest bull market in Wall Street history. But the central bank’s economists say the two really have little in common. As part...
USD/CNH Breaks Convincingly Above 7.000
As we discussed last week, the coronavirus helped to cause an increase in inflation to 5.4% vs 4.9% expected, as much of the inflation was due to higher food prices. Yesterday, China released data suggesting they have been flooding the...
EUR/USD Remains Above 1.0780
During Thursday morning, the EUR/USD currency pair tried to surpass the 100-hour SMA near 1.0820. During today’s morning, the pair failed to surpass the given SMA again. If the given resistance holds, it is likely that some downside potential could...
GBP/USD Tests Resistance
Yesterday, the GBP/USD exchange rate failed to decline below 1.2860. During Friday morning, the rate raised to the resistance formed by the weekly S1, the Fibo 38.20% and the 55-hour SMA at 1.2920. In the given resistance holds, it is...
USD/JPY Trades Below 112.00
On Thursday, the USD/JPY currency pair consolidated in the 112.00 area. During today’s morning, the pair was trading at 111.80. Note that the exchange rate could gain support of the 55-hour moving average, currently located near 111.50. Thus, some upside...
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