Day: February 11, 2022
Will the Battered Yen Cheer on Positive GDP Data?
After a negative quarter, Japan’s economy probably returned to the expansion area in the last three months of 2021, GDP data is expected to show on Monday at 23:50 GMT. While the news could put smiles on policymakers’ faces, the relief may only be temporary as the latest record pickup in covid infections has brought …
GBP/USD Outlook: Above Expectations UK GDP Lifts Sterling But Pivotal 1.3600 Barrier Caps the Action
Cable edged higher on Friday, following better than expected UK GDP data which partially offset negative impact from further rise in US inflation that fueled expectations for possible more radical action from Fed. Fresh advance continued to face strong headwinds at pivotal 1.3600 barrier (Fibo 61.8% of 1.3748/1.3357) after several upticks (yesterday /last week) failed …
The Fed is still likely to take a measured approach to rate hikes despite calls for bigger action
The Federal Reserve building in Washington, January 26, 2022. Joshua Roberts | Reuters Several Federal Reserve officials, both privately and publicly, are pushing back against calls by St. Louis Fed President Jim Bullard on Thursday for super-sized rate hikes, and instead suggesting the central bank is likely to embark initially on a more measured path. …
EUR/USD Outlook: Different Fed-ECB Policy Outlook May Weigh on Euro
The Euro stands at the back foot on Friday following a bumpy ride after US inflation data on Thursday, but the action ended in a long-legged Doji candle, signaling strong indecision. Although Friday’s action is in red, the downside remains limited by rising 10DMA (today’s attempts lower stalled near yesterday’s low). Stronger than expected rise …
EUR/USD Outlook: Different Fed-ECB Policy Outlook May Weigh on EuroRead More
AUDJPY Keeps Bullish Mood Intact with Bounce off 200-MA
AUDJPY has pushed over the mid-Bollinger band and is confronting the 83.00 handle after gaining some traction from the 200-period simple moving average (SMA). The longer-term horizontal SMAs are endorsing the broader neutral picture, while the climbing 50-period SMA, which is nearing a bullish crossover of the 200-period SMA as well, suggests that the recent …
AUDJPY Keeps Bullish Mood Intact with Bounce off 200-MARead More
Ending the Week in the Red
Stock markets are ending the week in the red after investors were dealt another inflation blow on Thursday which dampened sentiment once more. We were just starting to see confidence building in the markets, with investors seemingly coming to terms with the prospect of four or five rate hikes this year. But the relentless and …
EUR/USD and AUD/USD Look for Correction: Elliott Wave Analysis
After the first bearish reaction on the USD after US CPI yesterday, the currency turned down later during the US session. Probably it was due to higher 10 year US yields. Stocks also came down, which is supportive for the buck. EURUSD spiked to a new high but then finished the day lower, so it …
EUR/USD and AUD/USD Look for Correction: Elliott Wave AnalysisRead More
GBPUSD Trendless Despite Growing Bullish Forces
GBPUSD buyers have resurfaced around the 100-period simple moving average (SMA) after the pair’s recent retreat from a 1.3643 spike. Currently, the SMAs have tangled and are not indicating a clear message in terms of a price direction. That said, the 50-period SMA has regained its incline and has just crossed above the 200-period SMA, …
Risk-off Sentiment Dominates as Expectation of 50bps Fed Hike Intensified
Much volatility was seen in the markets overnight, but as dusts settled, risk-off sentiment dominated. Fed funds futures are now pricing in 94.7% chance of a 50bps rate hike by Fed after the strong CPI reading, comparing to just 33.7% a week ago. Dollar is trading generally higher in Asia, followed by Yen. Aussie is …
Risk-off Sentiment Dominates as Expectation of 50bps Fed Hike IntensifiedRead More
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Finance news
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