Week Ahead: Continued Central Bank Fallout; Powell Testimony
If the PMI data this week comes out worse than expected or Powell seems to be leaning “less hawkish”, interest rate expectations may come down. Activity this week should be based on the follow-through from central bank activity last week. ...
Powell vows that the Fed is ‘acutely focused’ on bringing down inflation
Federal Reserve Board Chairman Jerome Powell speaks to reporters after the Federal Reserve raised its target interest rate by three-quarters of a percentage point to stem a disruptive surge in inflation, during a news conference following a two-day meeting of...
Swiss Franc to End the Week as Strongest, Dollar Staying Second
Swiss Franc remains the strongest one for the week and stays firm into US session. Dollar is also regaining some ground, as the second best. On the other than, commodity currencies are the worst performing one, as led by Canadian....
WTI Oil Outlook: Worries of Economic Slowdown Weigh on Oil Prices
WTI oil edged higher on Friday following strong downside rejection on Thursday, but the structure remains fragile, due to demand concerns, fueled by worries that recent rate hikes by major central banks and particularly aggressive Fed, would lead to economic...
EUR/USD Technical Analysis 17th June 2022
The Euro started a decent increase from the 1.0380 support zone against the US Dollar. The EUR/USD pair traded above the 1.0420 resistance to start an upward move. There was a clear move above a key bearish trend line with...
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...