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Week Ahead: OPEC+, more inflation and manufacturing data

As a result of inflation and manufacturing data, fears started creeping into the markets of the dreaded “R” word – Recession.

Bank of Mexico hikes 75bps after higher inflation reading

Will USD/MXN continue lower? It may depend on whether the central bank decides to hike another 75bps at its August meeting!

US open: Stocks rise as recession fears are pushed aside for now

US stocks are rising despite recession fears lingering. The mood had improved even if the data hasn’t.

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Forex Friday: EUR, CHF, JPY

In this week’s edition, we discuss the euro amid recession worries and review the yen and franc after last week’s policy decisions from BoJ and SNB

June 24, 2022 01:41 PM

Forex correlation: how do currencies align with other assets?

How do forex pairs interact with each other – and with other asset classes such as commodities and equities? Find out in this piece.

June 24, 2022 09:42 AM

European Open: DAX sits at key support ahead of the German IFO report

We’re watching how the DAX holds up for today’s IFO report – given it saw ‘no signs of a recession’ in May and markets now fear a global recession.

Norges Bank surprises and hikes 50bps

Concerns of a rising inflation with a tight labor market were the reasons for the greater magnitude in the hike.

European Open: Volatile trade for yen pairs, PMI’s up next

The Japanese yen was broadly higher overnight on comments from a former FX and a report showing foreign investors fled the bond market last week.

Central banks current monetary policy - Where to next?

Major central banks around the world, except for the BOJ, are in tightening mode on the back of increasing inflation.

What’s driving the global markets right now?

Everything you need to know about the current economic and monetary policy environment, and what it all means for financial markets

European Open: Sentiment falters ahead of the open

US futures and Asian indices partially handed back some of yesterday’s gains and oil touched a 1-month low as yesterday’s optimism shows early signs of petering out.

USD/JPY trades to new 24-year highs! Will it keep going?

The next move for the USD/JPY may depend on Japan fx intervention, comments from Powell, Japan CPI, or an overbought RSI.

June 21, 2022 08:35 PM

Currency Pair of the Week: EUR/GBP

With ECB members on the wires this week trying to talk down fragmentation in the Eurozone, along with CPI from the UK, EUR/GBP could be volatile this week.

June 21, 2022 04:59 PM

UK CPI Preview

How hot was inflation in May?

US open: Stocks rebound as sentiment improves but recession risks remain

US stocks are set to open higher today, on the first day of trading after the long weekend and after the steep losses last week.

Key takeaways from todays RBA communique and what it means for the AUDUSD

Following last week's mega moves by central banks, the calendar this week allows central bankers to finetune some of those shifts, starting with a plethora of communique from the RBA this morning.

June 21, 2022 04:11 AM

FX: Aftershocks of central bank bonanza

Despite the macro calendar being light, it could be a busy week for FX markets

June 20, 2022 05:43 PM

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Commitment of traders report (COT): DXY net-long hits 5-year high

Traders aggressively increased their net-long exposure to the US dollar index (DXY) ahead of last week’s FOMC meeting.

Worse than expected US Manufacturing Production and Industrial Production top off a rough data week

Fed Chairman Powell said he does not see a spillover from the high inflation into the broader economy. Therefore, the Fed excepts to continue hiking rates.

Two trades to watch: Gold, EUR/USD

Gold falls ahead of Powell. EUR/USD falls towards 1.05 ahead of EZ inflation.

European Open: Volatile trade on the yen as the BOJ stand pat

There was some trepidation ahead of today’s BOJ meeting given the excitement of the FOMC and SNB this week, as evidenced by the yen’s volatile spike when the BOJ did nothing.

‘If’ the BOJ abandon YCC, hold onto your hats (USD/JPY)

The yen was stronger overnight as some began to speculate that the BOJ could alter (or abandon) their yield curve control target. We outline three potential scenarios.

June 17, 2022 12:58 AM

SNB surprises everyone and hikes 50bps! USD/CHF falls 300 pips

The central bank also said the franc is no longer overvalued; however, they stand ready to intervene in the fx market if necessary.

June 16, 2022 09:12 PM