FX

In his post-BoC policy announcement/Monetary Policy Report release press conference on Wednesday, Governor Tiff Macklem said that interest rates will have to go up to counter inflation. Canadians should expect a rising path of interest rates, given the BoC is committed to bringing inflation back to target.  Additional Remarks: “There is some uncertainty about how
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GBP/USD fades corrective pullback from three-week low, indecisive during Asia. France reissues legal threat to UK over fishing issues, EU’s Sefcovic ‘frustrated’ over Brexit deadlock. The UK eases covid-linked restrictions on international arrivals, PM Johnson awaits Tory reaction to ‘Partygate’. Fed, BOE both expected to turn hawkish but today is the FOMC day and hence
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The greenback slides against the Japanese yen, despite a mixed market mood. Some 8,500 American troops were put under high alert, attributed to the escalation of the Russia – Ukraine conflict. USD/JPY is upward biased despite breaking under the 50-DMA, though the longer time-frame ones remain under the spot price. In the North American session,
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USD/CHF remains sidelined around intraday high, defends two-week-old resistance break. Firmer Momentum line, sustained trading beyond 200-HMA favor buyers. Fortnight-long descending resistance line guards immediate upside moves. USD/CHF grinds higher around 0.9155, up 0.09% intraday heading into Tuesday’s European session. In doing so, the Swiss currency (CHF) pair holds onto the previous day’s upside break
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EUR/USD reverses Friday’s corrective pullback from two-week low. Yields consolidate the first negative weekly loss in five with eyes on Fed’s verdict, stock futures print mild gains. Russia-Ukraine fears, Omicron updates add to the watcher’s list, weigh on prices. Preliminary readings of January PMI, inflation data can act as buffers ahead of Wednesday’s FOMC. EUR/USD
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GBP/JPY dropped 0.7% on Friday, falling from above 155.00 to around 154.00. Risk-off flows and soft UK data weakened sterling while safe-haven demand and lower global bond yields strengthened the yen. GBP/JPY fell sharply on Friday and heavy downside in the global equity market and commodity space weighed on more risk-sensitive currencies such as sterling,
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Gold (XAU/USD) prices reverse the previous day’s pullback from the highest levels since late November during early Friday. In doing so, the yellow metal cheers consecutive third day of the downbeat US Treasury yields, as well as risk-off mood amid the market’s cautious sentiment ahead of next week’s Federal Open Market Committee (FOMC). The metal cheered
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Pound among top performers supported by UK CPI numbers. EUR/GBP extends slide, start looking at 0.8300. EUR/GBP extends slide and approaches 0The EUR/GBP broke to the downside and fell to 0.8312, reaching the lowest level since February 2020. It remains near the low, under pressure, looking at the 0.8300 area on the back of a
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