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USD/JPY outlook hinges on continued US interest rate recalibration
The Japanese yen continues to dance to the tune of US interest rate expectations and broader risk sentiment, meaning events that may influence either of those areas should be the focus for USD/JPY traders this week.
U.S. Dollar Post-CPI: EUR/USD, GBP/USD, USD/JPY, XAU/USD (Gold)
The U.S. Dollar broke out and set another fresh 2024 high this morning as the currency continues to claw back Q4 losses.
EUR/USD weekly reversal signals potential directional shift
US economic exceptionalism is back. US bond yields are rising as Fed rate cut bets are slashed. For an economic block with so much pessimism factored into the outlook, it’s a backdrop in which EUR/USD should be getting battered. But it’s not.
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FOMC Meeting Recap: Fed Chair Powell Deems March Rate Cut "Unlikely," Boosting Buck Toward YTD Highs
Powell pushes back against market pricing for a March rate hike - what's next for the Fed?
US Dollar Forecast: USD/JPY Bull Flag Under Threat with Fed on Tap
USD/JPY appears to be negating a bull-flag formation as it tumbles to a fresh weekly low (146.07).
Gold analysis: Yields slide on weak data, but FOMC poses key risk
Following the release of disappointing US data and company earnings, we saw bond yields take a nosedive ahead of the FOMC policy decision later in the day.
USDJPY, U.S. Rates on Watch as We Begin Busy Week for U.S. Markets
Wednesday brings the first FOMC rate decision of 2024 along with the U.S. Treasury departments Quarterly Refunding Announcement. And then Friday brings NFP so the week will remain busy for FX markets, and probably Treasury markets, too.
Risks for crude oil and gold skewing higher as geopolitical tensions build
Geopolitical risks in the Middle East and the US interest rate outlook will be two of the dominant market themes traders will be grappling with this week, creating the potential for renewed volatility in the likes of crude oil and gold.
Nasdaq reaches new record high, a week ahead of FOMC: The Week Ahead
Love it or loathe it, the rally on US indices has been impressive. Traders seem to be focussed on lower yields, slightly reduced bets of multiple Fed cuts and any other morsel of what can be repackaged as ‘good news’. But can it withstand incoming GDP figures, a PCE inflation report and an FOMC meeting without a wobble?
AUD/USD eyes breakout post FOMC, USD/JPY to break 200-day MA? Asian Open
The Fed gave markets what they wanted for Christmas by signalling that rate cuts are likely coming in 2024. And that places AUD/USD and USD/JPY on notice for breakouts.
Fed Meeting Recap: FOMC Sends Doves (And Gold) Flying
It appears clear that the next change to interest rates will be a rate cut, and the question now is when exactly the Fed’s easing cycle will begin.
Dollar analysis: USD/JPY, GBP/USD and Gold among FOMC trades to watch
No one is expecting any further tightening from the Fed ahead of the FOMC’s last policy decision of the year. Market pricing of 125 basis point rate cuts in 2024 will be put to the test today and judging by the Fed’s cautious approach to things, there is a good chance Powell and co will push back against those expectations at today’s meeting.
USD/JPY, Gold: Risk for US dollar, Treasury yields skewed higher unless CPI comes in cool
The US macro calendar is full of risk events this week with the Fed rate decision, US CPI and Two long bond auctions arriving over the next few days. Gold and USD/JPY are two markets particularly sensitive to shifts in US interest rates.
US CPI, FOMC, BOE, ECB and SNB on tap: The Week Ahead
Four major central banks meeting next week including the FOMC, ECB, BOE and SNB. While no changes are expected, traders want to know who may be the first to cut rates.
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.
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.
Canadian Dollar Technical Analysis: USD/CAD Breakout Ahead of FOMC, NFP
USD/CAD put in a strong breakout last week and price ran to a key zone of resistance. The question now is whether bulls can continue to drive and US and Canadian employment numbers are on the calendar for this Friday.
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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).
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…
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
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.
AUD/USD Forecast: Fed Interest Rate Decision in Focus
The Fed rate decision may do little to curb the recent advance in AUD/USD as the central bank is expected to retain the current policy.
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.