Week Ahead – Recession Fears Mounting
US Now that Wall Street has had some time to digest the FOMC decision, the focus shifts to how quickly the economy is weakening and a wave of Fed speak. A wide range of economic releases includes more Fed regional...
Weekly Economic & Financial Commentary: Shot Across the Bow, Japan Intervenes Against Surging Dollar
Summary United States: Whatever It Takes As widely expected, the FOMC raised the target range for the fed funds rate by 75 bps for the third consecutive time. The housing market continues to buckle under the pressure of higher mortgage...
The Weekly Bottom Line: The FOMC Aims High
U.S. Highlights The Federal Reserve raised interest rates by 75bps for the third consecutive meeting, bringing the federal funds rate to its highest level in 14 years. FOMC Chair Powell reiterated his Jackson Hole speech, stating that the Fed is...
GBP/USD Freefall: Where Will It Stop?
Cable traders will remember today for a LONG time. The UK government’s announcement of a “mini” budget cutting taxes and capping energy bills has spooked international investors, leading to a surge in UK gilt yields and driving GBP/USD down to...
Gold Falls Below $1650 as US Dollar Soars
On the back of fresh data via the PMI flashes out of the EU and UK, which showed that both economies are in contractionary territory, the EUR/USD and GBP/USD are trading lower on the day. As a result, the strength...
GBP/USD: Sterling Falls to New Multi-year Low after Disappointing Data
Cable accelerates below 1.12 mark on Friday and hit new lowest since 1985, in extension of steep bear-leg from 1.1738 (Sep 13 lower top), which is a part of larger downtrend from 1.4249 (June 2021 peak. The action in Asian...
Yen Settles Down after Wild Ride
It was certainly a day to remember for the Japanese yen on Thursday. USD/JPY traded in a stunning 550-point range, as the yen fell sharply before reversing directions and closing the day up over 1 per cent. Things have calmed...
USD/JPY Dips As Bulls Take Breather, Gold Consolidates
Key Highlights USD/JPY started a downside correction from the 145.90 high. It broke a major bullish trend line at 143.75 on the 4-hours chart. Gold price is still consolidating below the $1,700 resistance zone. The US Manufacturing PMI could decline...
Global September Preliminary PMIs and Economic Outlook
After a week in which a dozen central banks around the world either tightened policy or resorted to currency intervention, the focus is now on the economy. Just how much of the move was priced in, and how much will...
CHFJPY Sinks to 2-Week Low; Bullish Structure Intact
CHFJPY lost almost 2.0% within two hours during Thursday’s European trading hours, plunging to a two-week low of 143.92 before edging slightly higher. The technical oscillators followed the price sharply lower, with the RSI sliding below its 50 neutral threshold...