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Could a 50-bps Fed hike (inadvertently) weigh on sentiment? AUD/JPY
As daunting as a 75-bps hike may seem, it could be argued that if they didn’t hike so aggressively today then they’re still not doing enough to fight inflation.
RBOB Gasoline Futures have strong positive correlation with AUD/JPY!
if one does not have access to RBOB, a highly correlated yen pair is another option for traders
European Open: The RBA opt for a nifty 50, USD/JPY breaks 132
The RBA didn’t hold back and opted for a 50-bps hike at today’s meeting, which is a first since February 2000.
European Open: Futures point higher, AUD/JPY probes key resistance
European index futures have opened higher, suggesting sentiment remains buoyant after Friday’s rally. And that could bode well for a potential breakout on AUD/JPY.
Soured sentiment keeps AUD/JPY on the ropes
Concerns that the US is headed for stagflation weighed on sentiment yesterday, which has placed AUD/JPY back onto our bearish watchlist.
European Open: Bruised equity bulls look to US CPI for a reprieve
Given US indices are holding support levels after the latest selloff, a soft inflation print could be the catalyst to lift equities from their lows.
Asian Open: Keep an eye on AUD/JPY with sentiment on the back ropes
It was a volatile session for investors overnight which saw US indices trade sharply lower, with AUD/JPY showing the potential for a swing high.
The yen, FX intervention and the BOJ’s yield curve control
The yen has been a key focal point for momentum traders during its sharp depreciation, to the extent it could risk a BOJ intervention or cancellation of their YCC target.
Asian Open: IMF slash global growth forecasts, gold enters correction
Citing Western sanction on Russia and ‘higher for longer inflation”, the IMF cut global growth by -0.8 percentage points for 2022.
Asian Open: Germany reconsider Russian oil embargo
Germany’s defence minister called for fresh discussions with the EU on banning Russian gas imports.
Two trades to watch: Oil, AUD/JPY
WTI oil falls as Shanghai enters lockdown. AUDJPY surges after dovish BoJ, Australian infrastructure spend.
Asian Open: Equities rally and oil plunges on hopes of fresh supply
Oil prices continued to grip sentiment (but this time to the advantage of equity traders) after UAE said they would support a production increase.
Asian Open: Powell on board with a March hike, AUD/JPY taps YTD high
The Fed Chair told the House Financial Services Committee overnight he is on board with a 25 bps hike in two weeks.
European Open: Safe havens rise on (dubious) reports of military action
A Russian-backed news agency reported that Ukraine’s forces opened fire in Donbas, sending safe-havens higher and equity futures lower. Markets turned lower.
Asian Open: Wall Street rallies as troops head back to the barracks
Risk appetite rebounded overnight on Russia’s claim that some troops are rebasing, even though this claim has been met with scepticism.
Yikes for hikes if the Fed move faster than expected
What began as ‘just another ripper inflation print’ quickly turned into panic of an emergency hike from the Fed. But just how realistic is that?
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- Weaker business growth for Europe, fears of an #energycrisis and a surprise German trade deficit drove sentiment swiftly lower. - #EURUSD fell to a 20-year low, #USD up against G10 #FX - #Oil prices fell as much as -14% (closed ~ -9%) - European indices also lower https://t.co/uzrKf4pFQx
9:29 PM − 05 Jul 2022
Asian Open: Sentiment lifted, AUD/JPY hints at bullish trend reversal
A lift in sentiment and weaker yen allowed several yen pairs break key levels yesterday, with AUD/JPY being one of the best performers on the day.
Asian Open: Lagarde cools the euro, AU business confidence at 11:30
The euro’s rally was stopped in its tracks as ECB president Christine Lagarde tried to walk back her moment of hawkishness at last week’s meeting.
S&P 500 risk-on means higher levels for yen pairs!
Will yen pairs move higher if stocks continue to move higher? Based on the daily correlation between the S&P 500 and yen pairs, it seems likely!
Risk-off returns as Moderna CEO makes glum prediction
An article in the Financial Times triggered a fresh round of selling before the European open, as Moderna’s CEO predicts vaccines will be less effective.
Rise of new Covid variant sparks risk-off trade in Asia
Rise of new Covid variant sparks risk-off trade in Asia
Asian Open: Fed Chair Announcement Pushed Back
Whilst Joe Biden did not announce his decision for the Fed Chair “within four days”, a Whitehouse spokesman says it will be announced before Thanksgiving on Thursday.
Asian Open: The Yen is Back in Fashion as Inflation Knocks Sentiment
Yields, equities were lower whilst gold and the yen were higher during a risk-off session as inflationary forces concerned investors once again.