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FOMC Meeting Analysis: DXY Unchanged Amidst Fed Powell’s Most Milquetoast Manifesto Yet

With few changes to the policy statement and little in the way of notable developments in the press conference, markets are consolidating.

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November 1, 2023 03:01 PM

Dollar analysis: FOMC and key data puts greenback in sharp focus

The resilience of US data we have seen over the past couple of weeks hasn’t led to any further appreciation in interest rate expectations, keeping the dollar in an overall holding pattern with a slight bullish tilt, especially against the weaker currencies like the JPY and EUR. But the likes of the AUD and previously CHF have shown some resilience, perhaps suggesting that most of the positivity may be priced in for the greenback.

November 1, 2023 12:29 PM
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FOMC, BOJ and BOE on tap: The Week Ahead – 27/10/2023

We have a busy calendar with what would usually be ‘red flag’ days, including central bank meetings with the FOMC, BOJ and BOE. There’s a reasonable chance we’ll see no action across all three, but the bigger response for global markets could be if the BOJ widen or abandon their yield curve control (YCC).

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October 26, 2023 08:20 PM

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AUD/USD, ASX 200 headwinds to persist with ‘higher for longer’ Fed rates: Asian Open

At the most basic level the Fed delivered what was expected; another policy pause with the potential for further hikes. The opening paragraph tipped noted an economy which is “expanding at a solid pace” with a slower but “strong” job growth and elevated inflation. There’s nothing remotely dovish there. And then we look at the numbers…

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September 20, 2023 05:42 PM

US Dollar Analysis: Fed's Hawkish Hike Boosts Buck

The US dollar rises as the Fed still expects another rate hike and only two rate cuts next year

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September 20, 2023 02:23 PM
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Euro to dollar analysis: EUR/USD short term levels to watch for FOMC

The EUR/USD and other dollar pairs will be in sharp focus for FX traders as the attention turns to the upcoming Fed decision in a few hours’ time. No rate hike is expected, but the market is pricing in about even odds of another rate increase before the year is out.

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September 20, 2023 11:23 AM

GBP/USD outlook: Inflation and central bank meetings take center stage – BoE Preview

The GBP/USD will come into sharp focus over the next couple days, with two pivotal events on the horizon: the FOMC and BoE rate decisions. Additionally, traders are anticipating the release of UK CPI and retail sales data, as well as global PMI figures this week. These developments collectively have the potential to shape the near-term GBP/USD outlook. UK CPI could sway BoE decision, with the UK central bank likely to mimic ECB's dovish hike. Meanwhile, the FOMC is likely to go for a hawkish hold.

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September 19, 2023 09:00 AM
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GBP/USD Outlook: BoE and FOMC meetings make Cable Currency Pair of the Week

The GBP/USD is in focus ahead of this week’s key events: FOMC and BoE rate decisions. We also have UK CPI and retail sales, as well as global PMI figures to look forward to this week. The BoE is likely to deliver a final 25 bps hike, while FOMC is seen holding policy unchanged. The GBP/USD could be heading to low 1.20s in this busy week.

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September 18, 2023 08:00 AM

FOMC, BOE, BOJ meetings, CPIs and flash PMIs: The Week Ahead – 15/09/2023

Whilst the Fed are expected to hold rates steady in September, next week’s FOMC meeting also includes the quarterly staff projections. And changes to dot plot or CPI estimates can be as good as a hike where market reactions are concerned. The odds of another BOE are next week are not as high as they were, which makes the preceding inflation report paramount to expectations for their next decision. And whilst the BOJ are unlikely to act, that is no reason to drop your guard given their tendency to surprise once in a while. We also have flash PMIs for major regions and inflation data to mull over.

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September 17, 2023 12:54 AM
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EUR/USD outlook: ECB in dovish hike ahead of more central bank action next week

Prior to today’s ECB meeting, there was a bit of uncertainty whether the ECB would hike or not, with markets pricing in a 65% implied probability of a 25-bps hike. In the end, it went ahead with the rate hike, lifting the main refinancing rate to 4.50% from 4.25% previously. But the euro nonetheless fell sharply. This is because the ECB strongly indicated that we have reached a terminal interest rate...

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September 14, 2023 09:30 AM
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Key CPI reports for UK and CA, China data and FOMC minutes: The Week Ahead

It may be the middle of the US summer, but economic data keeps coming thick and fast. A defiantly strong set of economic data from the UK piles the pressure on the Bank of England (BOE) to keep tightening, and makes next week's Consumer Price Index (CPI) report as relevant as ever.

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August 13, 2023 12:50 AM
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Fed Meeting Instant Analysis: USD/JPY Slips as Fed Flips Fully Data Dependent

USD/JPY edges lower after Fed Chair Powell emphasizes patience...

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Euro to US dollar analysis: EUR/USD in focus with FOMC, ECB rate decisions looming

First up, the Fed will take centre stage later today, when it will most likely – almost certainly – deliver what everyone expects, a 25-basis point rate hike. The dollar’s reaction will depend entirely on the FOMC’s hints about the next meeting in September. Meanwhile, the ECB is also facing a dilemma of whether to pre-commit to another hike in September.

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July 26, 2023 08:37 AM
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USD/JPY drifts to support ahead of FOMC: Asian Open – 26th July 2023

USD/JPY might remain range-bound heading into the FOMC meeting, at which point it is down to how hawkish (or not) the Fed are as to how strong the USD will likely be.

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July 25, 2023 07:00 PM

EUR/USD, USD/JPY Analysis: Currencies tread water ahead of today's FOMC meeting

Like most markets, EUR/USD and USD/JPY are in holding patterns ahead of today’s FOMC meeting, where traders will seek clues over how long rates will remain elevated.

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FOMC, USD Majors, Gold, S&P 500 & Nasdaq Weekly Technical Outlook

Sr. Technical Strategist Michael Boutros highlights setups he's tracking into the FOMC this week. The targets & invalidation levels that matter on the technical charts.

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The Week Ahead: US Inflation, FOMC, ECB and BOJ meetings in focus

Three mighty central banks release their monetary policy decisions next week, starting with the FOMC meeting on Wednesday. But Tuesday’s inflation report could also carry some clout as it has the potential to move the needle between an anticipated pause to an undesired hike if it surprises too much to the upside.

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June 8, 2023 11:12 PM
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US dollar analysis: Fed threads the needle, still sees no cuts

Powell appears to be threading the needle between leaving the door open for additional rate hikes while remaining responsive to the current banking stresses.

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May 3, 2023 03:31 PM
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EUR/USD forecast: monthly low in place ahead of Fed and ECB?

It remains to be seen if EUR/USD will register the monthly low during the first week of May to largely mirror the price action from last month.

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By : David Song
May 2, 2023 02:44 PM

US dollar analysis: Fed poised to hike, but will it be the last?

Ahead of the Fed, the US dollar has generally fallen vs. the euro this year, but there are signs EUR/USD may be losing its bullish momentum after a failed breakout to 1-year highs.

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May 1, 2023 12:53 PM
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USD/JPY rate outlook vulnerable to dovish Fed rate hike

The Federal Reserve interest rate decision may keep USD/JPY afloat as the central bank is expected to deliver another 25bp rate hike.

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By : David Song
April 28, 2023 02:08 PM
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Gold price forecast: XAU/USD outlook hinges on Fed rate decision

The price of gold may face range bound conditions ahead of the Fed interest rate decision as it bounces back from the weekly low ($1974).

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By : David Song
April 27, 2023 03:08 PM