ICYMI – Former Treas Sec Summers urged the Fed to refrain from signaling its next move
The Federal Open Market Committee (FOMC) meeting is Wednesday: statement is due Wednesday February 1 at 2pm US ET (1900 GMT) with Powell’s presser following a half hour, later. Earlier: — ICYMI, Former US Treasury Secretary Lawrence Summers spoke with Bloomberg (gated). “I don’t think it’s a time to be committing to rate hikes, given […]
Bitcoin and Crypto Currencies on the Move
Crypto currencies are off to a great start in the new year, with nano Bitcoin gapping upward in a strong bull trend. Boris Ilyevsky, Head of Coinbase Derivates Exchange, discusses why he thinks “Crypto winter” could be behind us, with respect to recent events surrounding non-regulated Crypto entities and highly anticipated regulatory frameworks from Capitol […]
Bond bears quietly plot their move against the BOJ again
<p style="" class="text-align-justify">Just when you thought the BOJ could afford some time to breathe a little easier, it looks like it may barely last over a week. Talk of the central bank perhaps <a href="https://www.forexlive.com/centralbank/ex-boj-official-says-bank-likely-to-begin-phasing-out-extraordinary-measures-by-sepoct-20230125/" target="_blank" rel="follow">looking to begin normalising policy</a> later this year and a lack of pushback on that from Kishida earlier <a […]
Gains through low 1.09s to revive bull move for a push on to 1.1000/50 – Scotiabank
EUR/USD keeps its range below the 1.09 level. A move above here will revive bullish momentum, economists at Scotiabank report. Firm support on modest dips to the low/mid-1.08s “EUR/USD is holding a solid-looking bull trend on the daily chart and is backed by supportive trend strength oscillators across the short, medium and longer-term DMIs. This […]
Decline to persist on a move below 391 – SocGen
EUR/HUF’s correction is set to extend if 391 gives way, analysts at Société Générale report. 404 must be reclaimed to negate the break “The HUF is outperforming in CEE4 this year, and the thawing of relations with the EU means the currency could stay in demand.” “EUR/HUF recently confirmed a Head and Shoulders pattern and […]
XAU/USD bulls move in ahead of key events and pending Federal Reserve
Gold price runs higher within the consolidation and towards recent bull cycle highs. Gold price will now depend on key United States economic events ahead. The Federal Reserve is looming and all will be revealed at the start of February. Gold price has been a touch higher at the start of the week, digging into […]
USDJPY dips to a new low. Lower inflation from Michigan helps that move to the downside.
USDJPY falls below the 61.8% retracement Looking at the daily chart, the price has moved below the 61.8% retracement of the move up from the 2022 low and trades at the lowest level going back to early June 2022. That level comes in at 128.16. The low price reached 127.55. The current price trades at […]
Room for the Euro to extend the move higher – MUFG
Analysts at MUFG Bank have a bullish outlook for the EUR/CHF cross, considering it could benefit from a further scaling back of fears over recession in the Eurozone. Key quotes: “After trading within a narrow range between 0.9800 and 0.9950 throughout most of Q4, the pair has broken higher in recent days as it first […]
Fed’s Next Move & Expert Tip to Trade the Rate Hike
We have the FED decision next week which will tell us about how the central bank thinks the economy is doing. There will be lots of developments. Let’s understand how this can affect the markets. Chris Pulver is a full-time trader and Senior Currency Strategist at Market Traders Institute. Check out Chris’ brand new trading […]