Week ahead – RBNZ meets, trade talks resume, and more Brexit in store

Posted on March 22, 2019 at 2:31 pm GMT

After a hectic week that saw the Fed officially abandon its rate-hike plans for this year and several developments in the Brexit saga, things could quiet down a little. The only major central bank to meet next week will be the Reserve Bank of New Zealand (RBNZ), while in the political arena, all eyes will remain on the UK as another Brexit vote could be held in Parliament. On the trade front, high-level talks will resume in Beijing. Brexit squarely [..]

European Open Preview – Dollar roars back; euro crumbles on soft PMIs

Posted on March 22, 2019 at 8:52 am GMT

Dollar recoups Fed losses as other currencies soften Stocks climb amid renewed trade optimism Pound trims losses as EU offers short extension Euro plunges after Germany’s manufacturing PMI signals more pain ahead Dollar roars back, recoups Fed losses The US dollar staged a remarkable comeback on Thursday, advancing against a basket of six major currencies to recoup all the losses it recorded following the Fed meeting, even without any positive US catalyst or news. What is particularly striking, is that [..]

European Open Preview – Dollar reels as Fed abandons hikes; BoE decides

Posted on March 21, 2019 at 8:52 am GMT

Fed ‘dot plot’ shows no hikes in 2019, dollar crumbles Sterling dives as May requests short extension; BoE meeting and EU summit today SNB remains on hold, reiterates readiness to intervene in FX market Dollar plunges as Fed abandons rate hike plans – easing bets grow The Fed meeting wasn’t short of surprises. There was no change in policy, as expected, but the officials revised down their rate projections in the famous ‘dot plot’ quite significantly, to the point that [..]

Technical Analysis – USDJPY tumbles below rising channel; creates 1-month low

Posted on March 21, 2019 at 7:40 am GMT

USDJPY is looking strongly bearish in the short-term after plunging below its daily simple moving averages (SMAs) on Wednesday. The price found significant obstacle near the 200-SMA, dropping beneath the ascending channel to challenge the 23.6% Fibonacci retracement level of the upleg from 104.64 to 112.10, around 110.40. Prices hit a one-month low of 110.40 and the technical indicators are all pointing to further negative momentum in the near term. The RSI indicator has slipped below the 50 level with aggressive mode and is currently approaching [..]

European Open Preview – Fed ‘dots’ to steal the show; pound retreats

Posted on March 20, 2019 at 8:45 am GMT

Fed decision at 18:00 GMT today; new rate projections to dictate market reaction Stocks pause rally as trade uncertainty reigns in Sterling inches down amid reports May will ask for short Brexit extension Fed ‘dots’ to steal the show The main event today will be the Fed policy decision at 18:00 GMT, which will be followed by a press conference from Chair Powell. No change in policy is expected, so all eyes will be on the updated forecasts for the [..]


Fed to clarify how patient it could get with rate hikes – Forex News Preview

Posted on March 19, 2019 at 12:44 pm GMT

The Federal Open Market Committee (FOMC) has two main things to clarify at the end of its two-day policy meeting on Wednesday at 1800 GMT. First is the course of rate hikes that the central bank hinted it will pause until later this year. Then is the size of the balance sheet and particularly policymakers’ willingness to continue winding down asset holdings at a time when risks to the global economy are skewed to the downside. New economic projections released on the same day could reflect the [..]

European Open Preview – Long Brexit extension looms; dollar retreats as Fed casts shadow

Posted on March 19, 2019 at 8:48 am GMT

Pound drops as Brexit angst deepens, but prospect of long extension offers ray of hope Growing Fed rate cut expectations support risky assets, weigh on dollar Crude oil continues to march higher UK House speaker vetoes third Brexit vote – long extension in scope UK politics made headlines yet again on Monday after the Speaker of the House of Commons, John Bercow, ruled out allowing the government to bring its Brexit deal to Parliament for a third time unless it [..]

European Open Preview – Dollar softens as Fed meeting looms; stocks climb

Posted on March 18, 2019 at 9:11 am GMT

US stocks rally to six-month highs but perhaps on option expiries – implying some cause for caution Dollar retreats in a quiet session; looks to Fed meeting on Wednesday Sterling catches its breath ahead of potentially decisive week US equities cruise to six-month highs on ‘quad witching’ In an otherwise quiet session, US stock markets rallied on Friday, with the benchmark S&P 500 (+0.50%) index breaking above a critical resistance zone around 2,820 that capped several rallies in recent months, [..]

Week ahead – Fed, BoE, and SNB policy meetings highlight a packed agenda

Posted on March 15, 2019 at 1:18 pm GMT

Traders will be glued to their screens next week amid a barrage of crucial events, ranging from a highly-anticipated Fed policy meeting to even more Brexit votes in the British Parliament. At the same time, almost every major economy will see the release of data that could be decisive for their respective currencies, particularly considering the synchronized shift by central banks towards a more ‘cautious’ stance lately. Fed decides: All eyes on the new ‘dots’ Arguably the main event in [..]

European Open Preview – UK to seek Brexit delay but pound down as third meaningful vote looms

Posted on March 15, 2019 at 9:14 am GMT

Sterling retreats lower despite Parliament voting to extend Article 50 as investors eye EU summit and third meaningful vote next week Risk sentiment boosted by “substantive progress” in US-China trade talks but disappointment that there will be no March summit Gold back above $1300 after North Korea says may suspend denuclearisation talks with US Pound fails to resume rally after MPs vote to delay Brexit British lawmakers on Thursday voted to extend the Article 50 process as expected, which, together [..]

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