Daily Update and Forecast – Post-FOMC, BoE and OPEC in focus
Wednesday FOMC statement included a $15 billion monthly cut from its current quantitative easing programs starting this month. Nothing out of the ordinary was noticed. Coming up today is its counterpart in the UK and of course, the OPEC+ meeting. What did FOMC conclude? On Wednesday, the Fed Reserve was hawkish about the US economy […]
FOMC Preview and USD Analysis- Will the Fed quicken the dollar rise with a big taper?
It’s a big day for the US markets. It’s a big day for the dollar. The US monetary policymakers will reveal the pace of their asset tapering, the current status of inflation and when it could start hiking rates. Meanwhile, the dollar remains upbeat as the index stays firm above 94. During and after the […]
European Session Outlook – Risk-on sentiment retreats ahead of ECB
Ahead of the ECB later today, the risk-on sentiment is retreating this week albeit in a corrective manner. Thus, the return to risk-on might happen before the end of the week. S&P 500 is down by 40 points but currently rejecting further push below 4500. In the bond market, the US 10-Yr is retreating today […]
US CPI Preview – how inflation report could drive the Dollar and EURUSD
The dollar stays firm ahead of the US inflation reports coming later today. The index is close to breaking toward its highest level in over four months. However, the rally is squeezing around a key resistance level. The dollar continues to dominate its peers, gaining the edge from the recent tapering comments from Fed members. […]
Technical Analysis: Oil falls below major resistance, how deep could it go?
So far in August, WTI has shed over 7% after hitting a strong resistance level around $77. How further downside should traders expect? It’s a popular fact that the world runs on energy thus the black commodity (oil) reflects the global economic growth. Since Covid, we have seen a new face of the oil market. […]
US Markets Analysis – DXY, S&P 500 and Treasury Yield Forecast
Thursday’s US inflation report increased investors’ appetite for risk as the call for tapering was doused at least before next week’s FOMC report. The US 10-year treasury yield quickly collapsed to its lowest in three months while Wallstreet turned green. However, the dollar remains indecisive, hovering around a solid range. The world’s largest economy has […]
NFP Preview and Forecast – How US Jobs could influence Major FX
The US Bureau of Labour Statistics will release the May job reports later today. Meanwhile, the dollar has been in a bright mood after some encouraging data on Thursday prior to today’s event. Employment reports in Canada are expected at the same time. So, it’s expected to be another volatile day in the Forex market. […]
NFP Day: What does the job data mean for the dollar?
Risk appetite is higher in the second half of the week. The equities markets continue the recoveries from the recent slump as the dollar fails to impress ahead of the US job reports. Market Wrap Dollar and Equities Safe havens are subdued again with the dollar leading the pack. The greenback is set to close […]
FOMC maintains strict support citing sharp but uneven recovery – what next for dollar?
The FOMC on Wednesday kept the federal fund rate unchanged at 0-0.25%. Its refusal to taper the current asset purchase values drag the dollar lower and pushed S&P 500 to a fresh record high. Fed went dovish, no taper yet until targets are met The Fed Chair Powell said although the economy is recovering at […]
USDCAD Forecast Ahead of BoC Monetary Policy Reports
All eyes will be on the Bank of Canada today as the market expects the country’s interest rate unchanged at 0.25%. Will the bank cut down its bond purchases or wait again? The Canadian Dollar is plummeting against other major currencies in April. Even against the weak dollar, CAD is down so far in April […]