Euro rises with focus on ECB tightening path, Swiss Franc rises

* Euro rises, focus on rate hike bets

* Dollar takes a breather after recent gains

* Swiss Franc at multi-week highs after SNB hawkish turn

* Graphic: World FX rates Link

By Stefano Rebaudo

May 19 (Reuters) - The euro rose on Thursday as investors priced in the chance of an aggressive near-term tightening path by the European Central Bank, while the safe-haven dollar took a breather after significant gains in the previous sessions.

Money markets are currently pricing in around 105 basis points (bps) of ECB rate hikes from around 95 bps on Tuesday before ECB official Klaas Knot signalled a 50-basis-point rate increase was possible in July. ECBWATCH

U.S. money markets, meanwhile, are still discounting around 200 bps of Fed rate hikes by December 2022. FEDWATCH

Risk appetite in the currency market is fragile as stocks slid, tracking Wall Street's worst day since mid-2020, as warnings from some of the world's biggest retailers underscored just how hard inflation is biting.

However, some analysts have positive views about the global economy and risk currencies on expectations for an easing of restrictions in China.

More Shanghai residents were given the freedom to shop for groceries for the first time in nearly two months on Thursday as authorities set out more plans for exiting the city-wide COVID-19 lockdown more fully.

"We are relatively bullish on risk currencies against the U.S. dollar, including both the euro and sterling, as we think market concerns over global growth are excessive," said Matthew Ryan, senior market analyst at Ebury.

"We will see a significant rebound once we get to a stage where China begins materially unwinding its Covid restrictions," he added. "We think that the global economy will probably hold up slightly better than some economists expect this year."

The dollar index =USD , which tracks the greenback against six major peers, fell 0.3% to 103.5 after jumping 0.55% on Wednesday, ending a three-day losing streak.

"We argue that a turning point (for the U.S. dollar after recent gains) is close," George Saravelos, global head of foreign exchange at Deutsche Bank, said in a research note.

"Because we are now at a stage where a further deterioration in financial conditions undermines Fed tightening expectations, while there is still significantly more tightening to be priced in for the rest of the world, especially Europe," he added.

The euro was up 0.3% at 1.0488 against the dollar. EUR=EBS

The Swiss Franc rose 1% against the euro and the dollar after Swiss National Bank president Thomas Jordan signalled on Wednesday the SNB was ready to act if inflation pressures continue.

The SNB has so far stuck to its ultra-loose policy.

The Swiss Franc hit a 2-week high versus the greenback and a 3-week high against the single currency, respectively at 0.9751 and 1.0227. CHF=EBS EURCHF=

Japan's yen, which lost ground versus the dollar in March and April, has been rangebound recently.

It rose 0.4% to 127.6 JPY=EBS on Thursday.

On Tuesday, the Bank of Japan said it intended to stick with its dovish stance and maintain the current monetary stimulus to create sustainable increases in prices.

Ebury's Ryan sees a potential rebound in the yen, but it keeps a bearish view in the medium term due to the divergence of monetary policy between the Bank of Japan and the Fed.

"So long as concerns about inflation and a potential economic slowdown dominate the narrative, the yen could return as the favoured, or at least one of the favoured, safe-haven destinations among currency traders," he said.

Robust economic data fuelling expectations of monetary tightening in Australia and Canada

supported their currencies. AUD=EBS CAD=D4

Bitcoin BTC=BTSP fell about 1% and was last trading at $28,884. Ether ETH=BTSP rose 0.5% but still below $2,000.
Reporting by Stefano Rebaudo; Editing by Angus MacSwan

Avertissement : Les entités de XM Group proposent à notre plateforme de trading en ligne un service d'exécution uniquement, autorisant une personne à consulter et/ou à utiliser le contenu disponible sur ou via le site internet, qui n'a pas pour but de modifier ou d'élargir cette situation. De tels accès et utilisation sont toujours soumis aux : (i) Conditions générales ; (ii) Avertissements sur les risques et (iii) Avertissement complet. Un tel contenu n'est par conséquent fourni que pour information générale. En particulier, sachez que les contenus de notre plateforme de trading en ligne ne sont ni une sollicitation ni une offre de participation à toute transaction sur les marchés financiers. Le trading sur les marchés financiers implique un niveau significatif de risques pour votre capital.

Tout le matériel publié dans notre Centre de trading en ligne est destiné à des fins de formation / d'information uniquement et ne contient pas – et ne doit pas être considéré comme contenant – des conseils et recommandations en matière de finance, de fiscalité des investissements ou de trading, ou un enregistrement de nos prix de trading ou une offre, une sollicitation, une transaction à propos de tout instrument financier ou bien des promotions financières non sollicitées à votre égard.

Tout contenu tiers, de même que le contenu préparé par XM, tels que les opinions, actualités, études, analyses, prix, autres informations ou liens vers des sites tiers contenus sur ce site internet sont fournis "tels quels", comme commentaires généraux sur le marché et ne constituent pas des conseils en investissement. Dans la mesure où tout contenu est considéré comme de la recherche en investissement, vous devez noter et accepter que le contenu n'a pas été conçu ni préparé conformément aux exigences légales visant à promouvoir l'indépendance de la recherche en investissement et, en tant que tel, il serait considéré comme une communication marketing selon les lois et réglementations applicables. Veuillez vous assurer que vous avez lu et compris notre Avis sur la recherche en investissement non indépendante et notre avertissement sur les risques concernant les informations susdites, qui peuvent consultés ici.

Nous utilisons des cookies pour vous donner la meilleure expérience possible de notre site internet. En savoir plus ou modifier vos paramètres de cookies.

Avertissement sur les risques : votre capital est à risque. Les produits à effet de levier ne sont pas recommandés pour tous. Veuillez consulter notre Divulgation des risques