Here is what you need to know on Friday, February 3: Following the highly volatile action witnessed on Wednesday and Thursday, markets seem to have turned cautious on the last trading day of the week. As investors await the January jobs report from … [Continue reading]
USD/JPY prints day low at 128.50 USD Index loses momentum, US NFP buzz
USD/JPY has dropped to near 128.50 as the USD Index is struggling to extend gains above 101.55. Subdued US corporate earnings have strengthened the risk-off market mood. US Secretary of State Antony Blinken to meet with Chinese President Xi Jinping … [Continue reading]
Gold Price Forecast: XAU/USD stares $1,900 as Fed rate pause rumors might offset post-US NFP
Gold price is eyeing more weakness to near $1,900.00 after an inventory distribution breakdown. Higher US labor cost data could shrug off Fed’s policy tightening pause rumors ahead. S&P500 has displayed a three-day winning streak despite further … [Continue reading]
SNB Jordan: Can’t exclude more interest-rate increases, ready to be active in FX markets
Swiss National Bank Chairman Thomas Jordan is crossing the wires and has stated the following: Key comments Price stability does not happen automatically. We are seeing no wage-price spiral in Switzerland. Inflationary pressure … [Continue reading]
GBP/JPY bounces off two-week low, remains heavily offered around 158.00 mark
GBP/JPY continues losing ground for the third straight day and drops to a two-week low. Expectations for a hawkish shift by the BoJ underpin the JPY and exert some pressure. The BoE’s dovish outlook weighs heavily on the GBP and contributes to the … [Continue reading]
EUR/USD: ECB’s current approach to support Euro – Commerzbank
The ECB prepared the market well for today’s rate meeting. Esther Reichelt, FX Analyst at Commerzbank, notes that the Euro is well positioned to strengthen against the US Dollar. Euro goes well prepared into the ECB meeting “A 50 bps rate hike … [Continue reading]
Asian Stock Market: Gains seem restrictive despite Fed’s smaller rate hike and subdued oil price
Asian stocks are mildly positive despite the upbeat market mood post-Fed’s less-hawkish policy. Thursday’s session is going to be super-duper volatile ahead as the interest rate decision by the ECB and the BoE. Chinese equities are likely to dance to … [Continue reading]
GBP/USD Price Analysis: Bulls eye a run to test the 1.24s resistance
GBP/USD bulls riding the whitewash of the Fed's dovish tilt and eye a break into the 1.24s. Resistance could be tough ahead and the bulls are not out of the woods yet. GBP/USD rallied overnight on US Dollar weakness following the Federal Reserve … [Continue reading]
AUD/USD turns positive, climbs above 0.7100 after Fed’s decision, as Powell speaks
AUD/USD snaps three days of losses as the Federal Reserve increased rates by 25 bps. Federal Reserve officials stated that more increases would be appropriate. US central bank policymakers decided that future rate hikes would be in 25 bps … [Continue reading]
US: ISM Manufacturing PMI declines to 47.4 in January vs. 48 expected
US ISM Manufacturing PMI fell more than expected in January. US Dollar Index stays in negative territory below 102.00. The economic activity in the US manufacturing sector continued to contract at an accelerating pace in January with the ISM … [Continue reading]