Forex Market News
The US Dollar Index getting ready for Friday’s NFP!
The DXY is moving to the 50% retracement level of the September 28th highs to the lows of October 4th. Unless there is a surprise in the markets before then, DXY is likely to sit near these levels until the data is released.
Mexico CPI due out tomorrow, but does it matter?
Banxico has been hiking rates at the same pace as the Fed since the beginning of summer, most recently with a 75bps rate hike last week.
The US dollar index (DXY) hints at a swing low ahead of NFP
After a 5-day correction, the US dollar index is showing signs of stability above a key support zone.
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Polish Central Bank keeps rates unchanged; Will more Central Banks pivot?
After pivots by the RBA and the National Bank of Poland, questions are swirling over which central bank will be the next to pivot?
GBP/USD off lows following another bruising session
The slide was more of a dollar-rebound story rather than about the pound, although the cable was among the weakest of the majors
OPEC+ agrees to a 2,000,000bpd cut!
How much higher will Brent Crude go? It may depend of the size of the energy crisis that is brewing throughout Europe, as well as the extend to any type of price cap placed on Russian oil.
Could the Non-Farm Payrolls print be…….BAD?
If the NFP print is weaker than expected, there will be a lot of talk about the Fed "pivot", and markets may see the current trends in stocks and the US Dollar continue!
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Technical Tuesday: Gold, EUR/USD and S&P 500
In this week’s edition, we are getting technical on the 10-year US bond yields, gold, EUR/USD and S&P 500.
Two trades to watch: EUR/USD, GBP/USD
EUR/USD holds over 0.98 amid an upbeat mood. GBP/USD extends gains after Chancellor’s U-turn.
OPEC+ Preview: Will 1,000,000 bpd cut it?
If OPEC+ cuts 1,000,000bpd, be careful of a “buy the rumor, sell the fact” trade.
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Currency pair of the week: AUD/USD
With the RBA meeting on Tuesday and Non-Farm Payrolls from the US on Friday, AUD/USD could be volatile this week.
Week Ahead: More CB intervention? Plus, RBA, RBNZ, OPEC+, and NFP
Markets will be waiting on pin and needles this week to see which central bank may be the next to intervene.
US Core PCE follows EU CPI higher
Markets are pricing in a 75bps rate hike for both central banks. However, the meetings not until the end of October and there is still a lot of data which can change rate hike expectations
Forex Friday: It is all about the pound
In this week’s edition, we discuss the pound’s extreme volatility amid the BoE’s intervention and government’s questionable policy response to soaring cost of living crisis in the UK.
China ready to intervene in USD/CNH; Tells banks to prepare
After the BOJ and the BOE intervened in the markets, traders are asking “Who’s next?”.
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Gilts gone wild!
The yield on the 30-year Gilt has moved from a high on the day of 5.092% down to a low of 3.869%.
BOE folds and intervenes in bond markets; GBP/JPY in 410 pip range
With the BOE and the BOJ intervening over the last week, GBP/JPY has been extremely volatile, trading in a range from 164.44 down to 148.79 over that same timeframe.
GBP/USD: BoE intervention unlikely to help pound
BoE is attempting to soothe investor nerves after they were spooked by last week’s mini budget.
The yuan hits a 14-year low and sends USD/CNH above 7.2000
Another day, another big level gives way for global markets. And that has seen the yuan weaken to 7.2 against the US dollar, a level not seen since 2008.
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