FOMC will be cautious in reading too much into the magnitude of January’s NFP – Wells Fargo
The data published on Friday by the US Bureau of Labor Statistics (BLS) showed that Nonfarm Payrolls rose by 517K in January, well above market consensus. The numbers triggered a rally of the US dollar. Analysts at Wells Fargo point out that there is still plenty of additional economic data between now and the March […]
Market Spotlight: EURUSD Balloons on FOMC – ECB Up Next
Fed – ECB Divergence GrowingEURUSD exploded higher in response to the FOMC yesterday. With the Fed having pivoted further, opting for a .25% hike, there is now growing divergence between the Fed and the ECB. The Fed is now widely expected to bring its tightening operations to a close by the summer while the ECB […]
Market Spotlight: Bullish EURUSD Opportunities into FOMC
Upside Risks for EURUSDLooking across markets for the best opportunities ahead of the Fed today, EURUSD looks like a solid setup for a long should USD weaken on the back of the meeting. If the Fed delivers a smaller .25% hike as expected and also scales back its rates outlook for the remainder of the […]
US Dollar Slammed Post FOMC as Markets Test Fed Resolve. Where to for USD?
The US Dollar slide has continued after the New York close post the Fed hiking rates and Powell putting a dovish tilt in the mindset of the market. How low will USD go? US Dollar, DXY Index, USD, Fed, FOMC, Powell, Disinflation – Talking Points The US Dollar has been vanquished by the markets slant […]
FOMC responses – inflation still high, more +25bp hikes ahead,
A couple of analyst snippets in response to Wednessday’s Federal Open Market Committee (FOMC) and Powell. BMO: there are more tightening moves to be realized this cycle still too soon to look for the Fed to shift to an on-hold stance inflation … eased somewhat, but remains elevated the phrase “pace of future increases” transitioned […]
FOMC Hikes Rates 25 bps As Expected, Leaves Open Further Hike Expectations
FOMC, Dollar, S&P 500, ECB and BOE Rate Decision Talking Points: The Federal Reserve hiked its benchmark rate 25bps to a range of 4.50 – 4.75 percent The US benchmark is higher than its principal global counterparts, but that advantage has been previously priced in In the policy statement that accompanied the decision, the group […]
USD/JPY refreshes daily low on weaker US ADP report, focus remains on FOMC
USD/JPY turns lower for the second straight day and is pressured by a combination of factors. Bets for smaller Fed rate hikes, sliding US bond yields, weaker US ADP report weigh on the USD. The cautious market mood benefits the safe-haven JPY and contributes to the modest downall. The downside seems cushioned as the focus […]
1.2300 Handle Holds Firm as Markets Take a Breather Before the FOMC Meeting
GBP/USD PRICE, CHARTS and ANALYSIS: Recommended by Zain Vawda Download the Updated Q1 Forecast for the US Dollar Most Read: GBP/USD Technical Outlook: Short-term Range Intact GBP/USD FUNDAMENTAL BACKDROP Cable failed to recover any ground surrendered to the greenback yesterday, as sideways price action dominated the Asian and early European sessions. Yesterday’s selloff in GBP/USD […]
EUR/USD adds to recent gains and retargets 1.0900, FOMC eyed
EUR/USD adds to Tuesday’s advance and approaches 1.0900. EMU Flash inflation Rate, Unemployment Rate next of note in the bloc. The FOMC event, ISM Manufacturing take centre stage later in the session. The European currency keeps the optimism unchanged for the second session in a row and lifts EUR/USD back to the vicinity of the […]
ForexLive Asia-Pacific FX news wrap: Awaiting the Federal Open Market Committee (FOMC)
Major forex rates traded in limited ranges during the session here with traders awaiting the Federal Reserve statement and Powell’s following news conference. ICYMI, previews posted already: News flow of any relevance was basically absent. We did get some data flow though. The New Zealand labour market report for Q4 2022 (official NZ jobs data […]