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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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European Open: EUR/USD stalls at resistance ahead of US inflation
EUR/USD has rallied as part of a 3-wave countertrend move, but with key inflation from the US on tap we’re watching prices around a key resistance cluster.
EUR/USD stalls at resistance ahead of US inflation
EUR/USD has rallied as part of a 3-wave countertrend move, but with key inflation from the US on tap we’re watching prices around a key resistance cluster.
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?”.
EUR/USD climbs on German CPI and BoE lead
The EUR/USD has today followed the GBP/USD higher.
Two trades to watch: DAX, USD/CAD
DAX falls as mood sours ahead of German inflation data. USD/CAD rises ahead of US, Cad GDP data.
European Open: Futures point higher, FTSE prints reversal at support
The FTSE 100 has produced a bullish hammer at the support level of a multi-month range, and futures point to a positive open for the index.
NZ business sentiment is less dire, RBNZ hint at rate cycle high
Business sentiment is not as pessimistic as it recently was, and RBNZ governor Orr described the central bank’s tightening cycle as ‘very mature’.
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%.
Gold shines as yields plunge on BoE intervention
BoE will temporarily carry out purchases of long-dated UK government bonds at an “urgent pace,” and on “whatever scale” necessary to restore orderly market conditions.
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.
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💥 Week Ahead: More CB intervention? Plus, RBA, RBNZ, OPEC+, and NFP #OPEC #OOTT #RBA #RBNZ #GBPUSD https://t.co/PrkfMzJTmv https://t.co/4RsLjOBmmw
7:27 PM − 30 Sep 2022
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!
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US open: Stocks rise snapping a 5-day losing run
Stocks rise as he market mood improves for now. USD eases lower.
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.
Two trades to watch: Gold, GBP/USD
Gold rises with Fed speakers & US data in focus. GBP/USD bounces from record low.
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...