USD/JPY Outlook Mired by Failure to Test December High
USD/JPY Outlook Mired by Failure to Test December High USD/JPY appears to be reversing ahead of the December 2022 high 138.18 as it fails to hold above 200-day SMA, but the Bank Of Japan interest rate decision may curb the recent decline in the exchange rate as the central bank is expected to retain its […]
EUR/USD Takes Out February Low Ahead of US Jobs Report
EUR/USD Takes Out February Low Ahead of US Jobs Report EUR/USD takes out the February low following the failed attempts to trade back above the 50-day SMA, and developments coming out of the US may keep the exchange rate under pressure as the NFP report is anticipated to show another rise in employment. EUR/USD fails […]
GBP/USD Fed Chair Jerome Powell
GBP/USD Fed Chair Jerome Powell Fed Chair Jerome Powell acknowledged that the pace of quarter-point interest-rate increases is not set in stone, and a faster tightening of rates may be warranted if economic data indicates it is necessary. Powell’s follow-up testimony tomorrow will be his last scheduled public remarks on interest-rate policy before the Fed’s […]
AUD/USD Defends January Low Ahead of RBA Rate Decision
AUD/USD Defends January Low Ahead of RBA Rate Decision AUD/USD trades in a narrow range after struggling to push back above the 200-Day SMA, and the Reserve Bank of Australia rate decision may keep the exchange rate afloat as the central bank is expected to implement higher interest rates. AUD/USD appears to be defending the […]
The RBA Expected hike 25bp
The RBA Expected hike 25bp The Reserve Bank of Australia are expected to hike their overnight cash rate by 25bp, which would see the OCR at a 10-year high of 3.6%. We noted in their February meeting that the statement has a hawkish tone, and that the wording suggested at least two more hikes are […]
The Week Head:- BOJ, RBA and BOC Meetings
The Week Head:- BOJ, RBA and BOC Meetings An exciting week for markets, with three major currency central banks announcing their monetary policy decisions and a Nonfarm payroll report. The RBA’s meeting on Tuesday is the most likely to be the live one, but don’t write off the BOJ’s ability of surprising market at Governor […]
NZD/CHF Wave Analysis
NZD/CHF Wave Analysis NZDCHF reversed from support level 0.5750 Likely to rise to resistance level 0.5830 NZDCHF recently reversed up from the key support level 0.5750. The support level 0.5750 coincided with the 50% Fibonacci correction of the previous upward ABC correction from the start of October. NZDCHF can be expected to rise further […]
RBNZ Monetary Policy Statement Feb 2023
RBNZ Monetary Policy Statement Feb 2023 The Reserve Bank raised the official Cash Rate by 50 basis points to 4.75%, and maintained its projection of a 5.5% peak in the coming months. There was almost no change to the projected OCR track compared to the November policy statement. The OCR is still expected to peak […]
European Flash PMI’s and Canada Inflation Report
European Flash PMI’s and Canada Inflation Report Australia’s ASX 200 index fell by -12.7 points and currently trades at 7,338.80 Japan’s Nikkei 225 index has fallen by -37.31 points and currently trades at 27,494.63 Hong Kong’s Hang Seng index has fallen by -207.23 points and currently trades at 20,679.73 China’s A50 Index has fallen by […]
EUR/USD Recovery Attempt Could Face Hurdles
EUR/USD Recovery Attempt Could Face Hurdles EUR/USD traded as low as 1.0612 and is currently correcting losses. A key bearish trend line is forming with resistance near 1.0685. GBP/USD is struggling below the 1.2120 resistance zone. Gold price is attempting an upside break above the $1,840 resistance. The Euro remained in a bearish zone below […]
Powell Continues to be “Less Hawkish”
Powell Continues to be “Less Hawkish” Fed Chairman Powell continued with his less hawkish commentary today. He started by noting once again that the disinflationary process has started, but it will be bumpy. He also noted that it will be a long process. As a result, the US Dollar initially sold off while stocks moved […]
25bp Hawkish Hike from the RBA
25bp Hawkish Hike from the RBA The RBA hiked the cash rate target by 25 basis points to 3.35% Underlying inflation was above expectations to 6.9% Strong domestic demand is adding to the inflationary pressures CPI is expected to decline this year due to global factors and slower growth in domestic demand Medium-term inflation expectations […]
RBA Expected to Hike by 25bps
RBA Expected to Hike by 25bps The RBA are expected to rise interest rates by 25 bp to 3.35% tomorrow, which would take rates to their highest level since September 2012. If so, it would be their fourth consecutive 25bp hike and ninth back-to-back hike this cycle – which is their most aggressive in history. […]
FOMC Hikes Rates and Signals More to Come
FOMC Hikes Rates and Signals More to Come As universally expected, the FOMC raised its target range for the federal funds rate by 25 bps at the conclusion of its policy meeting today. But the tightening cycle likely is not over yet as the FOMC noted that it “anticipates that ongoing increases in the target […]
Australian Dollar Bright Start in 2023
Australian Dollar Bright Start in 2023 The Australia dollar has started 2023 strongly, rising above 70 cents to highs since August. A softer USD and improved China sentiment have been key. This week’s highlights include Australia’s jobs data, the Bank of Japan decision and US retail sales. The SUD has risen about 1.6 cents or […]
Gold & silver Struggle Despite Weak US dollar
Gold & silver Struggle Despite Weak US dollar Gold came off its earlier highs while silver turned a touch lower in what has been a quietish day. The US dollar fell further lower, extending it sharp losses from Friday when weak ISM data raised speculation that the Fed will be forced to cut interest rates […]
Decent US Data ahead of Payrolls | Xtreamforex
Decent US Data ahead of Payrolls | Xtreamforex Today brings this week’s most important data releases both from the Euro area and the US. In Euro area, flash inflation print for December will be released. Individual country data released thus far suggest that while headline inflation probably continued to decline in December, underlying price pressures […]
Japanese Yen Steady Ahead of CPI
Japanese Yen Steady Ahead of CPI The Japanese yen has edged higher on Thursday. In the European session, USD/JPY is trading at 132.09, down 0.27%. The dust has settled after Tuesday’s dramatic events, when the yen shot up 3.7%. This followed the Bank of Japan’s shocking announcement that it would widen its yield curve control […]