US Dollar struggles to capitalize on upbeat data ahead of PCE inflation
Here is what you need to know on Friday, January 27: The US Dollar Index managed to post small daily gains on Thursday following the robust macroeconomic data releases from the US but seems to be struggling to gather further bullish momentum early Friday. The benchmark 10-year US Treasury bond yield holds steady above 3.5% […]
USD/JPY slides below 130.00 as upbeat Tokyo CPI pleases BoJ hawks ahead of Fed’s preferred inflation
USD/JPY takes offers to refresh intraday low, fades bounce off weekly bottom. Firmer prints of Tokyo CPI for January renews hawkish concerns over BoJ and weigh on Yen prices. Mixed concerns surrounding Fed’s next move, hopes of BoJ’s hawkish turn also please USD/JPY bears. Fed’s preferred inflation gauge eyed for clear directions ahead of next […]
Dollar Tight Range to Be Tested by GDP and Fed’s Preferred Inflation Read
S&P 500, US Dollar, Earnings, BOC and FOMC Rate Decision Talking Points: The Market Perspective: S&P 500 Eminis Bearish Below 3,900; USDJPY Bullish Above 132.00 The S&P 500 continues to exhibit serious intraday volatility this past session with a sizable gap lower to undermine Monday’s breakout…only to fully retrace the move back into range We […]
Australian dollar rallies on red-hot inflation, Asia FX muted By Investing.com
© Reuters. By Ambar Warrick Investing.com — The Australian dollar rallied to a five-month high on Wednesday after fourth-quarter consumer inflation read higher than expected, while most Asian currencies moved little as fears of a global recession offset optimism over a potential economic recovery in China. The jumped nearly 1% to 0.7115 against the dollar, […]
Market Update – January 25 – Asian markets return to hot AUD & NZD Inflation
Many Asian markets back (China & Taiwan remain closed all week) and higher today, NYSE suffered tech meltdown (250+ stocks paused trading on Open) US Stocks mixed following a raft of uninspiring Earnings. #MSFT had its weakest quarterly sales growth in 6-yrs but EPS beat. -0.22% on the day & -1.02% after hours. PMI data […]
USD/JPY traces sluggish yields above 130.00 as Yen traders await BoJ Summary, US GDP and Fed
USD/JPY prints mild gains after reversing from weekly top the previous day. Yields remain sidelined as traders await more clarity on growth prospects, Fed moves. US PMIs were mixed but downbeat equities and higher prints of inflation data elsewhere allowed yields/USD to defend Yen buyers. Light calendar ahead of US GDP, FOMC restricts immediate moves. […]
USD/CAD struggles to extend recovery above 1.3380 ahead of BoC policy
USD/CAD is facing stiff resistance in surpassing the 1.3380 hurdle as the focus shifts to BoC policy. BoC Governor is expected to hike interest rates further by 25 bps to 4.5%. A sell-off in S&P500 futures is portraying caution in the market mood. The USD/CAD pair is facing barricades in paddling above the immediate resistance […]
“Soft landing” is the new “transitory inflation” – “markets look vulnerable”
BNP Paribas saying its way too early to dismiss recession fears (Deutsche Bank says the same, more to come from them below). BNP: “Soft landing” has been the catchphrase of a still-young 2023. But we think it will go out the window in the same fashion as “transitory inflation” did in 2022. As growth slows […]
EUR/USD sees recovery to near 1.0900 as ECB to continue rate hikes beyond summer
EUR/USD is eyeing to recapture the 1.0900 resistance as ECB might not pause policy tightening beyond summer. The Euro is delighted with bullish bets for CY2023 as the ECB will continue to raise interest rates further. According to the consensus, investors should brace for a contraction in the US GDP for the fourth quarter of […]
Sticky Australian inflation data may add steam to the rally – ING
AUD/USD broke decisively above 0.7000 yesterday. Australian Consumer Price Index data for the fourth quarter could fuel the rally if figures come out sticky, economists at ING. AUD/NZD may retest the recent 1.0950 highs soon “Tonight’s fourth-quarter CPI data in Australia will be key, as evidence of sticky inflation may force a hawkish repricing across […]