The Weekly Bottom Line: Economic Outlook Dims
U.S. Highlights US yields continued to move higher this week, as Fed Chair Jerome Powell solidified the case for a 50-basis point rate hike at the Fed’s next meeting on May 4th. He also left the door open to additional...
Fed’s Mester casts doubt on the need for ‘shock’ interest rate hikes ahead
Cleveland Federal Reserve President Loretta Mester said Friday she’s in favor of raising interest rates quickly to bring down inflation, but not so quickly as to disrupt the economic recovery. That means a strong likelihood of backing a 50 basis...
Powell says taming inflation ‘absolutely essential,’ and a 50 basis point hike possible for May
Federal Reserve Chairman Jerome Powell affirmed the central bank’s determination to bring down inflation and said Thursday that aggressive rate hikes are possible as soon as next month. “It is appropriate in my view to be moving a little more...
Sterling Falls Broadly after Weak Retail sales, Dollar Up
Sterling drops broadly today as weak UK retail sales data argues that the expected consumption drag from high inflation might have arrived already. Aussie is currently the second worse for the day, then Kiwi. On the other hand, Dollar is...
WTI Oil: Oil price eases on growth concerns and China lockdowns but still lacking clear direction
WTI oil edges lower on Friday, pressured by prospects of weaker global growth and higher interest rates, as the International Monetary Fund cut its global economic growth forecast and Fed Chair Powell signaled that half percentage point rate increase will...
USDCAD Wave Analysis
USDCAD reversed from support level 1.2450 Likely to rise to resistance level 1.2650 USDCAD recently reversed up sharply from the powerful support level 1.2450 (which has been repeatedly reversing the price from the middle of January). The upward reversal from...
BTCUSD Extends Sideways Move but Downside Risks Linger
BTCUSD (Bitcoin) has been trending downwards since late March when further price advances got curbed at the 48,000 region. Although the price has managed to halt its decline and is currently experiencing a consolidation phase, the technical picture seems to be deteriorating for the cryptocurrency. The...
EUR/USD Resumes Weakness after Hawkish Powell’s Comments
The risk-off is in full swing following FOMC Jerome Powell speech, who mentioned that they are planning to get interest rates “expeditiously” to neutral. Powell acknowledged that 50 basis points rate hikes will be on the table at the upcoming...
Oil Price Declined Below $100 to Move into a Bearish Zone
Crude oil price started a downward move from well above the $108 level against the US Dollar. The price declined below the $100 level to move into a short-term bearish zone. A low was formed near $98.77 before there was...
Can the BoJ alter the one-way selling in the JPY?
As most FX traders would attest to – the JPY has been taken to the woodshed, where the flow has been one way; it’s been brutal, but it’s been thoroughly deserved. In a world where every G10 central bank is...