Dollar rebounds from one/month low yen under pressure after BOJ meeting The U.S. dollar edged higher in early European trade Friday, rebounding after hefty overnight losses following weak economic data, while the Japanese yen weakened as the Bank of Japan
FOMC Skips June, But Signals Hikes Not Done Yet As widely expected, the FOMC decided unanimously to refrain from raising rates at today’s meeting. However, the Committee continued to say that “additional policy firming” may be appropriate. Furthermore, the median
Dollar surges after Fed signals more rate hikes ahead The U.S. dollar rallied in early European trade Thursday, boosted by the Federal Reserve’s hawkish projection of more tightening this year, while the euro weakened ahead of the latest European Central
Today’s FOMC Will be a Key Focus for China and Hong Kong Stocks China proxies; Hang Seng Index, Hang Seng TECH, and Hang Seng China Enterprises have outperformed S&P 500 & MSCI All Country Asia ex Japan since 31 May.
XAU/USD defends 100-day SMA ahead of the crucial FOMC decision Gold price once again attracts some buyers near the 100-day Simple Moving Average (SMA) on Wednesday and recovers a part of the previous day’s slide to the weekly low. The
US May CPI Inflation The Main Dish Today US stock markets retained positive momentum yesterday with the three main indices rising by 0.55% (Dow) to 1.5% (Nasdaq). The S&P 500 rose by almost 1%, closing above the August 2022 top.
A Busy Week for Central Banks Sentiment is cautiously bullish into the next US CPI figure, due tomorrow, and the next FOMC decision due Wednesday. U.S. inflation is expected to have fallen to 4.1% in May from 4.9%, and core
EUR/USD flat-lines around mid-1.0700s, traders await US CPI and FOMC decision this week The EUR/USD pair recovers a few pips from the Asian session low and for now, seems to have stalled its retracement slide from over a two-week high
Chinese Markets Unmoved By This Morning’s Price Data US weekly jobless claims, of all things, was responsible for yesterday’s main market move. Applications rose from 233k to 261k, more than the 235k expected. It triggered a US bond rally which
USD/CAD at Risk on Hawkish BoC but Fed May Be a Spoiler The Canadian dollar has appreciated sharply against the U.S. dollar since late May. The chart below shows how USD/CAD has fallen more than 2.0% over the past two
Surprise BoC Hike Fuels Hawks Around the World The surprise 25bp hike from the Bank of Canada (BoC) yesterday sent shockwaves across the financial markets. BoC decision to resume its rate hikes after a two-meeting pause and the surprise 25bp
Dow Jones Versus the Nasdaq 100 Amid Rising Government Bond Yields The blue-chip-oriented Dow Jones gained cautiously on Wednesday while the tech-heavy Nasdaq 100 sank 1.75% in the worst single-day drop since April 25th. In fact, the Nasdaq/Dow ratio plunged
Weak Chinese Trade Data Add to Growth Worries German Bunds outperformed US Treasuries during European trading hours following an unexpectedly strong decrease of inflation expectations in the ECB’s April Consumer Expectations Survey. The divergence between the two became even larger
Gold Gets its Groove as Markets Consolidate across the Board The gold price is oscillating around US$ 1,980 again today as markets reassess the landscape with China looking to stoke some growth and next week’s Fed meeting coming into view.
Reserve Bank of Australia Raised Policy Rate Further by 25 bps A disappointing US non-manufacturing ISM was yesterday’s defining moment for FI and FX trading. Up until the release, the post-payrolls momentum still pushed US rates and the dollar gently
GBP/USD struggles to surpass 1.2450, upside seems favored despite hawkish Fed bets improve The GBP/USD pair has witnessed delicate barricades after climbing to near 1.2450 in the early European session. The Cable is expected to remain on tenterhooks as the
FOMO Regime Change for US Stock Market The laggards, Dow Jones Industrial Average & Russell 2000 have recorded stellar single-day outperformances on Friday, 2 June against the Nasdaq 100; at least a three-month high. Market breadth has improved but fundamental
XAU/USD bears approach $1,930 support on upbeat US Dollar Gold Price (XAU/USD) stays on the bear’s radar for the second consecutive day as the precious metal renews intraday low near $1,945, extending the post-NFP losses amid to early Monday amid
