In a day that will be centred around the Fed’s deliberations this evening, and above all the quarterly economic projections, the new dot plot and Jerome Powell’s press conference, we start with China where the PBoC just now left its benchmark rates unchanged, with the one-year and five-year loan prime rates at 3.45% and 4.2%
US: The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting. Fed Chair Powell reaffirmed their data dependency and kept all the options on the table. The US CPI last week came in line with expectations, so the market’s pricing remained roughly the same. The labour market displayed signs
Australian Dollar, AUD/USD, Technical Analysis, Retail Trader Positioning – IGCS Update Australian Dollar cautiously climbing in recent days Retail traders have been slowly boosting bearish bets Is this a sign that AUD/USD may continue higher next? Recommended by Daniel Dubrovsky Get Your Free AUD Forecast The Australian Dollar has been pushing cautiously higher in recent
POUND STERLING TALKING POINTS UK CPI misses but PPI beat could be troublesome down the line. Little change in BoE forecasts for tomorrow, 25bps hike expected. GBP/USD arrives into oversold territory on RSI. Recommended by Warren Venketas Get Your Free GBP Forecast GBP/USD FUNDAMENTAL BACKDROP The UK CPI release missed on both headline and core
© Reuters. U.S. dollar banknotes are displayed in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic/Illustration/File Photo By Brigid Riley TOKYO (Reuters) – The dollar remained firm against a basket of peers on Wednesday ahead of a much-anticipated rate decision by the Federal Reserve later in the day, while the yen continued to hang close
Share: The index trades within a tight range just above 105.00. The FOMC meeting will take centre stage later in the session. The Fed is expected to keep rates unchanged on Wednesday. The greenback attempts some consolidative move in the low 105.00s when measured by the USD Index (DXY) ahead of the opening
US Dollar Scenarios Ahead of FOMC – Price Setups: The US dollar’s short-term uptrend remains intact ahead of the FOMC meeting. The Fed is highly likely to keep rates unchanged. The Statement of Economic Projection could be particular interest. How is the greenback likely to react? Recommended by Manish Jaradi Trading Forex News: The Strategy
It is fully possible that Tokyo will conduct intervention in case the yen weakens further Amid a weakening yen, BOJ may have no choice but to normalise monetary policy That includes exiting negative rates and ending yield curve control He also says that markets shouldn’t take things lightly and think that a threat of intervention
Crude Oil, WTI, Bearish Engulfing – Technical Update: Crude oil prices turned lower over the past 24 hours Bearish Engulfing candlestick pattern now in focus Watch rising trendline, RSI divergence on 4-hour Recommended by Daniel Dubrovsky Get Your Free Oil Forecast Daily Chart WTI crude oil prices might be showing early signs of topping that
Further de-risking took hold of Wall Street overnight, as the usual caution persisted in the lead-up to the Federal Open Market Committee (FOMC) meeting, albeit with some paring of losses into the latter half of the session. Treasury yields resumed their ascent to retest their multi-year highs, seemingly reflecting increased positioning for a hawkish-pause scenario
