Japan’s PM Kishida is to submit his candidate for Bank of Japan Governor to parliament next week. Will the new incumbent normalize current ultra-dovish policy?
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Wednesday, 8 February 2023
British Pound (GBP) Forecast: Cable Shaped by USD Factors
GBP/USD is at the mercy of the Fed and U.S. centric information as markets reprice their rate expectations higher weighing negatively on the pound.
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Tuesday, 7 February 2023
Crude Oli Hold the High Ground on US Dollar Weakness. Will WTI go Higher?
The Crude oil price maintained overnight gains after the US Dollar slid on the interpretation that Fed Chair Powell wasn’t hawkish enough. Inventory data and supply chains also lifted WTI.
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Gold Price Hangs Tough as US Dollar Dominates Proceedings. Where to for XAU/USD?
The gold price has mostly ignored the turmoil of US Dollar movements upending other markets this week as the Federal Reserve’s rate path provides the impetus for volatility.
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Dow Bulls Have Another Chance, Dollar Needs a New Foothold to Keep Climbing
Did Powell cap interest rate expectations and in turn revive the Dow and other risk benchmarks? More likely, fed rate expectations fueled by last week’s strong data run has likely find a natural equilibrium; but that means risk trends and the Dollar need a new guiding fundamental light to render tentative breaks into viable trends.
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Gold Prices Remain Weak, US Treasury Yields Test Multi-Week Highs
US Treasury yields have re-priced sharply higher after last Friday’s NFP report and this has left gold vulnerable to further losses in the short term.
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Brent Crude Oil Taking Advantage of Weaker USD, IEA Outlook & Supply Interruptions
Brent crude oil opens the European session on the front foot but markets are wary in anticipation of Fed Chair Jerome Powell’s speech later today.
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Monday, 6 February 2023
US Dollar Bumped by Hawkish Fed and the RBA Joins the Rate Hike Party. Higher USD?
The US Dollar gave up some ground today after reclaiming the ascendency with the Federal Reserve picking up the hawkish message ahead of Powell’s speech today. Where to for DXY (USD) Index?
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Australian Dollar Jumps Post RBA Hike of 0.25% as Expected. Where to for AUD/USD?
The Australian Dollar skipped north after the RBA raised the cash rate target by 25 basis points to 3.35% as the central bank tries to rein in eye watering inflation. Will AUD/USD go higher?
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Dollar Extends Rally for a Few Key Breaks, S&P 500 Throttles its Descent
The strong trends of risk aversion and Dollar recovery at the end of last week have survived the weekend. EURUSD and USDJPY won significant technical progress as the market’s Fed rate forecast has jumped, but how far can this momentum carry? Meanwhile, will meme stock volatility unsettle the S&P 500 and core market?
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Dollar Advance and Uneven Risk Trends Amplify USDMXN, USDHKD, USDINR and USDTRY
There has been a notable swoon in risk-leaning assets that has also provided some predictable lift to the US Dollar. Combined, these forces have created some unique pressure on some of the more pressurized emerging market currencies. We look at the Dollar cross with the Mexican Peso, Hong Kong Dollar, Indian Rupee and Turkish Lira.
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Bank of Japan (BoJ) - Foreign Exchange Market Intervention
As interest rate differentials widen between Japan and other major economies, the Japanese Yen continues to weaken.
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How to Learn Technical Analysis with DailyFX
Getting started in technical analysis can seem daunting but understanding the basics will build a solid foundation. Learn more...
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EUR/USD Forecast: No Let Up for Euro Post-NFP, What Fed Pivot?
EUR/USD bears have capitalized on fading Fed pivot bets but have a lot to look forward to this week from both ECB and Fed officials.
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Sunday, 5 February 2023
US Dollar Blazes Higher on Solid Data as Geopolitics Play Out. Where to for USD?
The US Dollar jumped back in the driver’s seat after jobs data unveiled an economy that remains robust despite the Federal Reserve hiking rates. Will the DXY (USD) Index go higher?
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Australian Dollar Tanks as US Dollar Roars Back to Life Ahead of RBA. Lower AUD/USD?
The Australian Dollar ran out of puff after making a seven-month high last week before the US Dollar regained traction and claimed the ascendency. Where to for AUD/USD?
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Markets Week Ahead: Nasdaq 100, Dow Jones, US Dollar, Gold, Jerome Powell, RBA
The Nasdaq 100 and Dow Jones reversed lower after a blowout jobs report last week. The US Dollar rallied at the expense of gold. All eyes turn to Fedspeak, the RBA rate decision and Canadian employment figures.
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Friday, 3 February 2023
Dow’s Skepticism Anchors Nasdaq Volatility, Dollar Charged by NFPs and Rate Forecasts
What matters more to the markets: that the US economy looks less at risk of a recession or that the Fed will be able to fulfill its rate hike forecast? The volatile reaction to this past week’s rate decisions, NFPs and US growth data leaves the markets evaluating what trends lie ahead.
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Breaking News - US NFPs Surge to 517k vs 185k Expectations, Unemployment Rate Falls to 3.4%
The US jobs market enjoyed a red hot January with 517k new jobs added, with job growth widespread.
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Central Bank Recap: Crucial Takeaways from the FED, BoE and ECB
Find out what major developments took place in a week consisting of three major central bank meetings and what it means for markets going forward
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ECB Leaves Rates Unchanged, Rate Cut Looms, EUR/USD Steady Ahead of Press Conference
The European Central Bank left all three official rates unchanged as expected. Traders are now focusing on the press conference for any clue...
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The Nikkei 225 has bounced at important long-term support and staged a modest turnaround. However, its down-channel endures and will need to...
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AUD prices remain hesitant ahead of the FOMC announcement later today. US PPI will also contribute to recent economic data. from DailyFX -...