Sterling finds itself under tremendous selling pressure following release of lower-than-anticipated headline and core CPI readings from the UK. This development is seen as a favorable turn of events for BoE policymakers, solidifying the anticipation that the rate hike expected to be announced tomorrow may be the last in the current cycle. On the heels
Share: The Euro reverses Tuesday’s losses vs. the US Dollar. Stocks in Europe kicked off Wednesday’s session with decent gains. EUR/USD remains bid below the 1.0700 hurdle. The USD Index (DXY) treads water in the low 105.00s so far. The Fed is expected to keep rates unchanged at its event. Usual weekly MBA Mortgage Applications
Cryptocurrency miners have a new voice in Washington with the launch of the Digital Power Network (DPN), a new coalition affiliated with the Chamber of Digital Commerce. The network is off to a promising start, with many of the United States’ biggest miners on board. The DPN is the first affiliate of the Chamber, and
The FOMC is expected to keep rates unchanged tomorrow when they meet. As such, traders will be looking for clues for a more hawkish unchanged policy or a more dovish unchanged policy. There are a lot of balls in the air including sticky inflation, but core inflation is starting to calm down. Strikes are popping
The FOMC rate decision is “one sleep away” and less than 24-hours away. The decision will take place at 2 p.m. The expectation is for no change in the target range of 5.25% to 5.5%. The question that traders will be answering is “Will the no change be more hawkish or dovish or balanced?”. That
Gold prices hit two-week highs on Tuesday, with the U.S. dollar losing its grip on six-month highs scaled last week, with attention focused on the Federal Reserve’s two-day policy meeting that begins later in the day. FUNDAMENTALS Spot gold was steady at $1,932.79 per ounce by 0058 GMT, having hit its highest since Sept. 5
Canadian Dollar’s rally gathers additional momentum during early US session, buoyed by data that depicted faster re-acceleration in Canadian inflation than anticipated. It is noteworthy that the surge in headline inflation figure was chiefly influenced by escalating gasoline prices, yet inflation excluding gasoline did not decelerate as BoC would love to see. This scenario is
Share: Gold price hit a two-week high at $1937.35 before retreating to $1931.77, down 0.06%. US 10-year Treasury bond yield reaches a 16-year high at 4.367%, weighing on gold. Investors keenly await the Federal Reserve’s ‘dot plots’ and updated economic projections for rate hike clues. Gold price retreats after hitting a two-week high at $1937.35
US: The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. The US CPI last week came in line with expectations, so the market’s pricing remained roughly the same. The labour market displayed signs
Just a month ago, we were still debating about 6% rates for the BOE outlook but all of a sudden now, markets are only seeing just a little over one more rate hike for the central bank. Here’s a look at the change in the OIS market pricing: The odds of a 25 bps rate
Copper prices edged lower in Asian trading on Tuesday, as the overall mood was subdued ahead of interest rate decisions by central banks this week, with the U.S. Federal Reserve set to begin its two-day policy meeting later in the day. Concerns that faltering post-pandemic economic rebound in China, the world’s top metals consumer, could
Asian markets manifested mild risk-off sentiments today, with Nikkei weighing down the broader region. As Japanese investors made their way back from an extended holiday weekend, notable sell-off in chip stocks took place. This reaction was prompted by reports that Taiwan’s premier chipmaker, TSMC, had requested its major vendors to postpone deliveries. Adding to the
Share: AUD/USD has staged an initial bounce after probing multi-month descending line near 0.6360. 0.6525 is first hurdle, analysts at Société Générale report. Failure to reclaim 0.6525 can trigger new selling AUD/USD has recently formed an interim support at 0.6360 as it touched the line connecting lows of March and May. An initial bounce is
Hester Peirce, one of five commissioners with the United States Securities and Exchange Commission (SEC) and an outspoken proponent of crypto, has urged lawmakers and regulators for clarity on digital assets. Speaking to Cointelegraph at the Permissionless II conference in Austin, Texas on Sept. 11, Peirce said she wouldn’t have expected the SEC to be
AUDUSD retests 100 hour moving average In a earlier post/video, I spoke to the 200 hour moving average and the 50% midpoint of the September trading range near the 0.6415 level as a key downside target that would need to be broken to increase the bearish bias. It was not broken. In fact they price
A note from Citigroup commodity analysts via CNBC (gated). Analysts at the bank say Oil prices may head toward $100 “for a short while”, citing output cuts and geopolitical tensions. But that level is not sustainable and the price is likely to drop into the end of the year: “The Saudi appetite to withhold oil
Gold exchange-traded funds (ETFs) attracted Rs 1,028 crore in August, making it the highest inflow in 16 months, amid continued hikes in interest rates in the US, which led to a slowing down in growth rate there. With this, the year-to-date inflow in the category has reached more than Rs 1,400 crore, data with the
In today’s rather subdued trading sessions, most of the movements in the financial markets are limited. European indexes are somewhat in red, albeit with contained losses for the time being. Meanwhile, yields in US and Europe have experienced a minor increase. In the currency sphere, Sterling is mildly weaker, closely followed by Dollar and Euro.