Fed’s Waller sees likelihood of multiple half-point interest rate hikes ahead
Getting inflation under control will require raising interest rates at a faster pace than normal even though the pace of price increases probably has peaked, Federal Reserve board member Christopher Waller said Wednesday. That means the central bank likely will...
A 50-Point Rate Hike Has Not Saved NZD, CAD from a Sell-off
Today the central banks of Canada and New Zealand raised their key rates by 50 points at once. New Zealand was not expected to rise sharply, but that did not save the NZD from the ensuing sell-off. A heavy downturn...
Dollar Broadly Firm after Record PPI, But Lacks Momentum Against Yen
Dollar is trading broadly higher today, with help by upside breakout against Yen. The greenback on remains firm after record PPI reading. Sterling is currently the second strongest, followed by Euro. On the other hand, New Zealand Dollar is trading...
NZD Down Despite RBNZ Hike, CAD Awaits BoC
The forex markets trade in tight range in Asian session today. New Zealand Dollar got little support from the RBNZ 50bps rate hike. It’s actually trading as the weakest one for the day at the time of writing. As for...
RBNZ Come Out Swinging with Their Most Aggressive Hike in 22 Years
In true RBNZ style, the central bank came out swinging with a punchy 50 bps hike to tame inflation (and inflation expectations). Summary of today’s RBNZ statement: Increased the Official Cash Rate (OCR) to 1.50 percent Appropriate to continue to...
Consumer prices rose 8.5% in March, slightly hotter than expected and the highest since 1981
Prices that consumers pay for everyday items surged in March to their highest levels since the early days of the Reagan administration, according to Labor Department data released Tuesday. The consumer price index, which measures a wide-ranging basket of goods...
WTI Wave Analysis
WTI reversed from key support level 93.50 Likely to rise to resistance level 105.00 WTI crude oil today reversed up sharply from the key support level 93.50 (which formed the daily Mornign Star in March) – standing near the 38.2%...
Dollar and Yield Dip after CPI, Stocks Rebound
Dollar drops in early US session together with treasury yields after consumer inflation data. While headline CPI came in higher than expected, core CPI’s pick up missed expectations. Commodity currencies are trading generally higher as US futures point to a...
Natural Gas Futures Hit 13-Year High in Overbought Zone
Natural gas futures (May delivery) further brightened their long-term bullish outlook on Tuesday, stretching their impressive five-week rally to a new 13-year high of 6.825. Despite the clear positive pattern in the market, which is well endorsed by the upward-sloping...
Inflation is All that Matters
All eyes are on US inflation data today. Investors feel the heat before today’s inflation print. All three major indices extended losses yesterday, as the S&P500 dropped 1.70% and slipped again below its 50-DMA, while Nasdaq, which is the most...