EURGBP Consolidates Gains
The euro recovers as traders wait for the ECB’s policy meeting later today. A rally above November’s high at 0.8590 has put the bulls back in the game. However, the RSI’s repeated venture into the overbought area has refrained buyers...
Dollar’s Post FOMC Rally Choked Off by Risk-On Sentiment; ECB, BoE and SNB Next
Dollar initially surged after Fed decided to double tapering pace and indicated there could be as many as three rate hikes next year. Nevertheless, the rally attempted was choked off by strong risk-on rally in stocks. Investors seemed to be...
Antipodean Data Crushes Expectations: What Next For AUDUSD And NZDUSD?
Kiwi GDP contracted by 3.7% over the September quarter (due to lockdown), less than the -4.5% expected, despite Auckland spending the entire month of October in lockdown. The smaller contraction shows that businesses and households have learned to adapt to...
Mortgage refinances fizzle as interest rates resume their climb
A brief surge in mortgage refinance demand fizzled fast, after interest rates resumed their climb along with the stock market. The initial scare from the Covid omicron variant caused rates to drop for about four days, sending borrowers rushing to...
Stock futures inch higher following Fed decision to aggressively wind down asset purchases
Federal Reserve Chairman Jerome Powell is seen delivering remarks on screens as a trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, December 15, 2021. Andrew Kelly | Reuters U.S. stock futures...
The Federal Reserve is expected to take a very big step toward a rate hike
The Federal Reserve is expected to announce a dramatic policy shift Wednesday that will clear the way for a first interest rate hike next year. Markets are anticipating the Fed will speed up the wind-down of its bond buying program,...
Hawkish monetary policy. Fed Anticipates Rate Hikes Next Year
Hawkish monetary policy FOMC delivered a hawkish outlook at the December meeting. Besides doubling the size of tapering as we had anticipated, more than two-third of the members have projected at least 3 rate hikes next year. The latest economic...