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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.
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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?”.
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.
Shorting the pound: how to short sell the British pound
Shorting the pound is a strategy that makes profit if the price of the British pound falls. To short the pound, you want to enter the trade as close to resistance level as possible. Find out more about short selling the pound.
US Housing Prices drop for 3rd consecutive month
Perhaps watching USD/JPY could give a clue as to where mortgage rates may be headed next!
Technical Tuesday: Nasdaq, WTI, GOLD and USD/CNH
In this week’s edition, we are getting technical on the Nasdaq, WTI, gold and USD/CNH.
ECB members working the wires today to try and prop up Euro
The ECB must have been excited when it saw its currency rising vs the Pound
Currency pair of the week: GBP/USD
Will the new budget from PM Liz Truss “break the economy” or will it help everyday citizens as she says it will?
EUR/USD due for a corrective bounce?
Prospects of some coordinated central bank action and the lack of fresh news may encourage short-side profit-taking...
USD/JPY: What’s next after government intervention for yen?
Can the yen fall more despite the government’s efforts?
The pound is sent into the ground during thin Asian trade
The combination of the UK’s mini-budget and general flight to the US dollar has sent the pound broadly lower and GBP/USD to a new record low.
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GBP/USD freefall: Where will it stop?
The 1985 low in the 1.0500 area could beckon in due time, but given the deeply oversold reading on the 14-day RSI, we would expect a short-covering bounce before then...
Gold falls below $1650 as US Dollar soars
Recession fears are causing both GBP/USD and EUR/USD to move lower. As a result, the US Dollar is moving higher. This leaves traders nervous to buy the dip in Gold as it moves to its lowest level since April 2020.
SNB hikes 75bps, but Franc’s not satisfied
The SNB hiked rates by 75bps today. However, the inconspicuous comments by the central bank left EUR/CHF weary as to if there are more to come.
Bank of England hikes rates by 50bps; More to come?
Despite a rate hike by the BOE of 50bps, GBP/USD is near 37-year lows. Why? Because the Fed hiked rates by 75bps yesterday and said that more rate hikes are on the way.
USD/JPY dives but is government intervention effective?
Is the BoJ undoing the government’s attempt to shore up the yen?
FOMC as expected; markets extremely volatile during presser.
As for other central bank meetings: within the next 20 hours markets will hear from the BOJ, SNB, Norges Bank, BOE, and SARB.