Yen Selloff Resumes as BoJ Maintains Dovish Bias, Gold Extending Decline
Yen falls broadly in Asian session today after BoJ stands pat and even maintains a dovish bias. 10-year JGB yield also tumbles after BoJ reiterates the pledged to defend the cap. Dollar, on the other hand, rises broadly, and it’s...
Nasdaq futures rise as market attempts comeback from April sell-off, Meta shares soar
Stock futures rose in overnight trading as the market shook off the April sell-off and investors reacted positively to earnings from Meta Platforms. Futures on the Dow Jones Industrial Average added 70 points or 0.2%. S&P 500 futures gained 0.7%...
EUR/JPY Faces Key Test ahead of BoJ and EZ CPI
This popular currency pair could be in for a sell-off amid ongoing risk-off trade and given the prospect for intervention from BoJ to deal with the rapidly weakening yen When you are left with the bad and the worse, you...
Euro Falls to the Lowest in Five Years Following Break of 2020 Low
The Euro surged through key support at 1.0635 (2020 low) on Wednesday, extending steep fall into fifth straight day and hitting levels last traded in March 2017, after triggering stops parked below. The single currency is pressured by risk aversion...
Why Current Level is the Most Important for EURUSD
The single currency has fallen under 1.0590, below pandemic lows and at its lowest level since April 2017. The 1.0600 area for EURUSD has repeatedly worked as a turning point since 2015. In 1997 and 1998 the selloffs also stopped...
Stocks making the biggest moves midday: General Electric, Warner Bros. Discovery, UPS, 3M and more
A General Electric (GE) sign is seen at the second China International Import Expo (CIIE) in Shanghai, China November 6, 2019. Aly Song | Reuters Check out the companies making headlines in midday trading. General Electric — Shares slid more...
DXY Continues to Surge; EUR/USD Lower
The US Dollar Index has broken above the top trendline of the upward sloping channel and is gunning for the March 2020 highs DXY began moving higher in May 2021 as the Fed hinted that it may be ready to...
GBPUSD: Cable Extends Steep Fall as Exodus into Safety Accelerates
Cable falls further in early Monday, hitting the lowest since Sep 2020, extending Friday’s 1.5% drop (the biggest daily fall since 18 Mar 2020) and last week’s 1.64% loss (the biggest weekly fall since mid-Aug 2021). Bears gained pace after...
Dollar Powered Up, Fed to Hike 50bps in May and 75bps in Jun?
Speculations on aggressive Fed tightening intensified sharply last week after a chorus of hawkish comments from policy markets. Markets are indeed pricing in near 70% chance of federal funds rate at 1.50-1.75% by the end of first half, i.e., 125bps...
The Week Ahead: Vive la France!
Traders are convinced that the Fed is going to raise interest rates aggressively “until something breaks.” The Week Ahead: Vive la France! For most traders, the focus last week was on the ramp up into peak Q1 earnings season. We...