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Australian Dollar Extends Losses

Admin — Wed, 28 Sep 2022 13:37:41 +0000

The Australian dollar can’t find its footing and continues to lose ground against the surging US dollar. AUD/USD was down considerably earlier today but has pared most of these losses. In the North American session, AUD/USD is trading at 0.6425, down 0.14%. Forex EA. Australia retail sales higher than expected Australia’s retail sales for August […]

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FX Intervention: Risks for Solos, Not Yet for Accords

Admin — Tue, 27 Sep 2022 11:36:24 +0000

The US dollar is under some pressure on Tuesday morning, which can be attributed to the dollar’s local profit-taking after substantial gains on previous days. European equities and US index futures are also getting some relief, pulling back from lows. Forex EA. However, until we see a change in the fundamentals, bounces like today’s are […]

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More Turmoil to Come?

Admin — Tue, 27 Sep 2022 07:41:55 +0000

Stock markets have steadied in Asia and early European trade on Tuesday but that is not reflective of the mood in the markets at the moment so it may struggle to hold. The volatility in FX markets at the start of the week has been extreme but it’s also been building for weeks as authorities […]

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EUR/USD Due for a Corrective Bounce?

Admin — Mon, 26 Sep 2022 16:03:48 +0000

With all the attention on the pound today, there was some sharp movements in the euro which you may have missed. The single currency dropped to a fresh low on the year against the greenback, reaching a low of 0.9551 before bouncing back to hit 0.9700, from where it has since drifted back lower. The […]

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Week Ahead: Central Bank Fallout, More Pain for the Pound, and Inflation Data

Admin — Sat, 24 Sep 2022 03:17:52 +0000

Last week, there were some major events that created quite a bit of volatility. The most important events were the FOMC interest rate hike of 75bps to bring the Fed Funds rate to 3.25%, the BOE rate hike of 50bps to bring the key rate to 2.25%, and the BOJ intervention in the FX markets […]

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Week Ahead – Recession Fears Mounting

Admin — Sat, 24 Sep 2022 03:14:48 +0000

US Now that Wall Street has had some time to digest the FOMC decision, the focus shifts to how quickly the economy is weakening and a wave of Fed speak. A wide range of economic releases includes more Fed regional surveys, durable goods orders, consumer confidence, new home sales, initial jobless claims, personal income & […]

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Weekly Economic & Financial Commentary: Shot Across the Bow, Japan Intervenes Against Surging Dollar

Admin — Fri, 23 Sep 2022 18:01:21 +0000

Summary United States: Whatever It Takes As widely expected, the FOMC raised the target range for the fed funds rate by 75 bps for the third consecutive time. The housing market continues to buckle under the pressure of higher mortgage rates, while the Leading Economic Index has signaled a broader loss of momentum across the […]

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The Weekly Bottom Line: The FOMC Aims High

Admin — Fri, 23 Sep 2022 17:58:24 +0000

U.S. Highlights The Federal Reserve raised interest rates by 75bps for the third consecutive meeting, bringing the federal funds rate to its highest level in 14 years. FOMC Chair Powell reiterated his Jackson Hole speech, stating that the Fed is willing to tolerate slower growth and higher unemployment to bring inflation back to its 2% […]

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Yen Settles Down after Wild Ride

Admin — Fri, 23 Sep 2022 08:57:48 +0000

It was certainly a day to remember for the Japanese yen on Thursday. USD/JPY traded in a stunning 550-point range, as the yen fell sharply before reversing directions and closing the day up over 1 per cent. Things have calmed down today, as USD/JPY is trading quietly at 142.37. Japan’s currency intervention sends yen flying […]

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Global September Preliminary PMIs and Economic Outlook

Admin — Thu, 22 Sep 2022 15:56:20 +0000

After a week in which a dozen central banks around the world either tightened policy or resorted to currency intervention, the focus is now on the economy. Just how much of the move was priced in, and how much will economic growth be impacted going forward. So far, tightening has contributed to a stronger dollar, […]

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FOMC Hikes Policy Rate by 75 Basis Points, Signals Many More to Come

Admin — Wed, 21 Sep 2022 18:27:08 +0000

The Federal Reserve Open Market Committee (FOMC) lifted the federal funds rate to the 3.0% to 3.25% range and reaffirmed a continuation of its balance sheet runoff. The Fed updated its language stating that “recent indicators point to modest growth in spending and production. Job gains have been robust in recent months, and the unemployment […]

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Pound Falls to New 37-year Low, Fed Looms

Admin — Wed, 21 Sep 2022 15:11:23 +0000

The British pound continues to lose ground. GBP/USD is trading at 1.3436. down 0.33%. Earlier in the day, the pound fell to 1.1304, its lowest level since 1985. Fed expected to hike by 0.75% The Federal Reserve holds its policy meeting later today, and is expected to deliver a third straight rate hike of 0.75%, […]

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