Two trades to watch: EUR/GBP, Nasdaq
EUR/GBP awaits Rishi Sunak’s announcement. Nasdaq looks to US GDP and jobless claims data.
FOMC minutes confirm 50bps hikes in June and July (USD/JPY, GBP/USD)
Whilst the FOMC minutes helped lift the dollar and Wall Street on the day, but we’re not convinced the dollar low is in just yet.
EUR/USD’s near-term bullish channel intact amidst ECB hawkishness
Recent comments from ECB policymakers suggest that “gap” between interest rates on the two sides of the Atlantic will be smaller than expected...
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European Open: Futures higher, NZD/JPY eyes break of 83 post-RBNZ
RBNZ came out swinging again with a 50-bps hike and upgraded forecast for the speed and level of their cash rate.
Bird flies after RBNZ hawkish hike - NZDUSD
The Reserve Bank of New Zealand has today raised the Official Cash Rate by 50 basis points to 2.00%, a follow up to its 50bp rate hike in April. While this was widely expected, a surprise came as the RBNZ revised the OCR terminal rate to 3.9% in June 2023 from its earlier 3.35% forecast.
Poor housing data sends USD/JPY lower
Weaker US housing data sent the markets into risk-off mode, dragging USD/JPY lower with it.
Lagarde comments, poor UK PMIs give EUR/GBP a lift
Hawkish comments from ECB President Christine Lagarde and weaker PMI data from the UK have helped push EUR/GBP back towards recent highs.
US open: Stocks fall as Snap sounds a warning
After yesterday’s rebound US futures are falling. A profit warning from Snap hit shares of social media companies. The Nasdaq is leading the charge lower.
Two trades to watch: FTSE, EUR/USD
FTSE falls as growth fears weigh, PMIs due. EUR/USD extends gains, PMI data up next
RBNZ preview and what comes next for the NZDUSD?
The Reserve Bank of New Zealand is widely expected to raise the Official Cash Rate by another 50 basis points to 2.00% at its meeting tomorrow. The real focus will be on the accompanying Monetary Policy Statement (MPS), which will provide updated inflation forecasts and OCR track changes.
Christine Lagarde gives a boost to EUR/USD
With Christine Lagarde laying the groundwork for upcoming ECB rate hikes, EUR/USD has continued its recent bid higher.
Currency Pair of the Week: NZD/USD
This week, the RBNZ will take its turn at hiking rates and discussing its outlook on inflation.
Two trades to watch: DAX, GBP/USD
DAX rises ahead of German IFO business climate data, GBP/USD rises ahead of BoE’s Bailey.
Commitment of traders report (COT): CHF bears begin to capitulate
Whilst the COT report shows us traders were their most bearish on CHF futures in 6-months, recent events and price action suggest some of those bears have closed out.
Week Ahead: RBNZ, PMIs, and more Consumer Retail Earnings
Last week saw stock indices, the US dollar, and earnings tumble as fears of recession and stagflation gripped the markets.
Is the manufacturing sector telling us something?
Are these large drops in the manufacturing data indicative of a slowdown ahead in the rest of the economy?
Forex Friday: Dollar halts 6-week winning streak
In this week’s edition, we discuss why the month of May hasn’t gone to plan for dollar bulls
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European Open: EUR/USD eyes break of 1.06, potential bull flag on gold
The dollar is on track to break a 6-week winning streak, and the euro and gold may present a couple of opportunities around that theme.
Are SNB being ‘franc’ about a potential hike?
Comments from SNB’s president suggest the central bank might be closer to hiking rates sooner than some expect.
After most of the data for the week, GBP/USD advancing
GBP/USD has been moving higher this week as a result of the strong labor market in the UK and the high inflation readings.
European Open: Bears eye the DAX after it fumbles its breakout
We were hopeful that DAX could break trend resistance, yet the turn in sentiment shows it was not yet to be. For now, at least.
USD/ZAR near key technical level ahead of SARB
If the SARB raises rates less than expected or if the statement is less hawkish than expected, the pair may break higher.
Canadian inflation remains excessively high. What does it mean for USD/CAD?
The Canadian CPI print confirmed what the markets had already expected: that inflation continues to rise and will force the BOC to raise rates further.