USD/JPY Outlook: Returns to Strength after Shallow Pullback
The dollar regained traction and bounced on Friday, after two-day pullback from new highest since 1998 was contained by Fibo support at 132.05 (38.2% of 126.36/135.57 upleg. The sentiment for yen was soured by today’s Bank of Japan’s decision to...
EUR/USD Outlook: Near-Term Risk Shifts Lower after Thick Daily Cloud Capped Recovery
The Euro turned to red on Friday after recovery on Wed/Thu was capped by the base of thick daily cloud (spanned between 1.0566 and 1.0767)) and dollar returns to strength after hawkish Fed and BoJ remaining on hold. The action...
GBP/USD Outlook: Cable Remains Volatile and Looks for Clearer Direction Signals
Cable eases in early Friday, following strong rebound in past two days which lost traction at the first strong obstacle at Fibo 38.2% of 1.3147/1.1933 descend, denting initial signal of reversal. Sterling was boosted by BOE’s rate hike by 25...
Trader Thoughts – How Close are We to Japanese JPY Intervention?
USDJPY and the JPY crosses capture the minds of traders – while there’s so much going on in central bank land, the BoJ in its meeting today decided to sit on their hands and do absolutely nothing. Whilst in some...
Everyone knows inflation is on fire. This is what’s really fueling it
Meat is seen in a supermarket as rising inflation affects consumer prices in Los Angeles, California, June 13, 2022. Lucy Nicholson | Reuters Inflation doesn’t just happen at the gas pump and the grocery store. There are literally hundreds of...
A day after Powell’s assurances about the economy, markets are worried that ‘the Fed breaks something’
Federal Reserve Chairman Jerome Powell’s insistence that the central bank is not deliberately trying to cause a recession and that the economy is on solid footing is exactly what someone in his position would be expected to say. The trouble...
Amid record inflation, 36% of employees earning $100,000 or more say they are living paycheck to paycheck
South_agency | E+ | Getty Images More than a third of high-earning American workers feel strapped for cash — a share that has risen dramatically in recent years. Thirty-six percent of U.S. employees with salaries of $100,000 or more are...
Fed hikes its benchmark interest rate by 0.75 percentage point, the biggest increase since 1994
The Federal Reserve on Wednesday launched its biggest broadside yet against inflation, raising benchmark interest rates three-quarters of a percentage point in a move that equates to the most aggressive hike since 1994. Ending weeks of speculation, the rate-setting Federal...
Stock futures rise after Fed raises rates by most since 1994
U.S. stock index futures were higher in overnight trading on Wednesday.
Powell says the Fed could hike rates by 0.75 percentage point again in July
Federal Reserve Chair Jerome Powell said Wednesday the central bank could raise interest rates by a similar magnitude at the next policy meeting in July as it did in June. “From the perspective of today, either a 50 basis point...