Dollar keeps FOMC power The US dollar, the world’s reserve currency, is heading for its best weekly trade in nine months buoyed by the FOMC’s hawkish turn, which bolstered the outlook for the US economy and put European currencies and commodities on the back seat. US stocks fall but tech sector holds resilient Global stock indices also retreated in fear of higher interest rates for US businesses in the next few years and on concerns other central banks could also [..]
· Fed shocks markets by forecasting much faster rate increases · Dollar storms higher, stocks retreat, gold cracks · Blockbuster data trim losses in aussie and kiwi, focus turns to BoJ FOMC signals two rate hikes in 2023 The Fed sent shock waves through financial markets yesterday after it signalled that rates will likely rise faster than previously expected and that a decision to wind down asset purchases may be just around the corner. The dot plot of interest rate [..]
· Fed likely to steer clear of any discussion about exiting cheap money · But it might pencil in a rate hike for 2023, lifting the dollar a little · Stocks cool after US retail sales disappoint, crude oil off to the races Too early to talk tapering Global markets will have their gaze locked on the Federal Reserve today, which concludes its meeting at 18:00 GMT. No policy changes are on the cards, so all the action will come [..]
· Dollar climbs as shorts hedge ahead of Fed meeting on Wednesday · Inflation fears subside overall – Biden infrastructure bill downsized? · Stocks hover near record highs, oil traders bet against Iran talks Investors shake off inflation blues Global markets seem to have concluded that this inflation episode will indeed fade soon. Despite US inflation printing 5% in annual terms last week, Treasury yields actually traded lower and various inflation expectation measures remain under pressure. The verdict is that [..]
The party in global stocks continues to rage, driven by a powerful combination of generous government spending and an ocean of liquidity by central banks. However, with the Fed thinking about taking its foot off the accelerator and the G7 nations agreeing on a minimum tax rate for big multinationals, the rally could come under fire. Even so, it’s difficult to envision anything more than a correction. Equities are still the only game in town. Stock market train keeps rolling [..]
The US 500 index (cash) managed to log two consecutive green weeks and remain close to its recent record highs despite its dull tone. With the price trading above its simple moving averages (SMAs), the RSI resuming its upward slope, and the MACD hovering above its red signal line, there is scope for more improvement. The bulls however, should claim the 4,244 peak in order to attract new buying interest towards the 4,300 and 4,400 psychological levels. On the flip [..]
· Dollar jumps, gold tanks after strong jobs data fuels hopes for NFP today · Tech stocks struggle for altitude amid Fed tapering and tax worries · Fed chief Powell speaks, Canadian employment data also due NFP buzz and ISM data revive the dollar The US dollar came back to life yesterday after some encouraging data releases revived concerns about an earlier withdrawal of Fed liquidity and forced traders to hedge some of their short bets on the reserve currency. [..]
· Fed says it will start selling corporate bonds, dollar yawns · Crude oil storms higher as traders bet against Iran deal · Markets quiet ahead of key data, but meme stocks strike back Fed to unwind corporate bond holdings The currency and equity markets remain frozen in a holding pattern, unable to break out even after the Fed announced it will start selling the corporate bonds it bought last year when the credit sector was in tatters. This serenity [..]
· Oil prices climb after OPEC signals nothing new · Dollar quiet, equities surrender gains but remain elevated · Loonie rides the oil wave, Turkish lira falls to new record lows OPEC kicks the can down the road Crude oil prices stormed higher yesterday to touch levels not seen since late 2018 after the world’s most powerful oil cartel did not signal any further increases to its production levels beyond July, as some feared. The producers apparently didn’t even discuss [..]
· Dollar drops in thin trading, turns gaze to ISM data and Fed speeches · OPEC meeting unlikely to roil markets, but Iranian negotiations might · Aussie unscathed by RBA, gold continues to rampage Greenback trades heavy The US dollar was the main mover in an otherwise quiet session on Monday, with American and British traders away on public holidays. There doesn’t seem to be an end to the dollar’s suffering. Inflation is heating up and yet the Fed remains [..]
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