DXY daily Synopsis: Despite its historical strength and the ‘USD smile’ framework, the USD’s recent subdued performance has left market observers questioning the continued applicability of this model. Credit Agricole delves into the factors affecting the USD’s momentum and highlights the potential paths for the currency moving forward. Key Takeaways: Synchronized G10 Rates and Yields:
Share: Gold price extends upside as Israel prepares to attack Hamas group. Fed Chair Powell supported neutral interest rates amid higher US bond yields. 10-year US Treasury yields jump above 4.9% amid unsustainable Congress budget deficits. Gold price (XAU/USD) rose sharply as Middle East tensions kept escalating and the Federal Reserve (Fed) Chair
It has been a negative week for the major US stock indices, as rates moving higher, geopolitical tension, and dysfunction in Washington. That dynamic does not seem to be going away anytime soon. However next week we get a slew of corporate earnings with something for everyone. A total of 4 of the “Magnificent 7”
USD/JPY ANALYSIS & TALKING POINTS Moderating Japanese inflation keeps JPY on offer heading into next week. US inflation, GDP and durable goods under the spotlight this week. Bearish divergence conflicts with ascending triangle pattern on daily chart. Supercharge your trading prowess with an in-depth analysis of the Japanese Yen outlook, offering insights from both fundamental
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Share: The USD and risk sentiment are the biggest factors driving CAD. Economists at TD Securities analyze Loonie’s outlook. Fading USD/CAD rallies ahead of 1.38 The direction of the broad USD and risk sentiment will dictate the price action of the Canadian Dollar in the near term. We like leaning against the recent
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What happens to the deficit when the economy turns? I know some of this is long-term infrastructure spending but if the bond market is signalling problematic deficits, some tough choices are going to have to be made. Sept deficit $171B vs -$78.6B expected Sept 2022 deficit $430B The deficit in the 2023 fiscal year was
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Share: The Greenback lost substantially on Thursday after Powell did not bring anything new to the table. A very light data calendar on Friday offers room for traders to digest past week events. The US Dollar Index strengthened somewhat on Friday amid escalating tensions in the Middle East. The US Dollar (USD) lost
