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With FX markets being pushed and pulled by market participants betting on when the major central banks are going to start cutting rates (or not) FX traders have some important risk events that will influence those expectations to negotiate this week. CPI and retail sales headline in the US, Aussie traders have the January Jobs report and for Sterli...
USD saw gains on Thursday with the US Dollar index (DXY) pushing above 104 before again finding resistance at the 100-day SMA. A rise in UST yields after a better than expected jobless claims figures. In data ahead Dollar traders will be focussing on the US CPI revisions. EUR was mostly flat vs the Dollar with EURUSD trading down to 1.0750 b...
USD drifted lower in Tuesday’s session, the US dollar index retracing a good chunk of Mondays gains. Regional bank fears were at the fore, with NYCB continuing its steep decline in an otherwise quiet session news wise. This saw the haven of bonds bid, sending yields lower and dragging the USD down with them. DXY dipping back below its 100 Day SMA...
USD was bid in Mondays session with the US Dollar Index following US treasury yields higher after hawkish comments from Fed Chair Powell over the weekend where he pushed back on market pricing of rate cuts starting in March. A beat in the ISM Services PMI data also supporting DXY as rate cut odds in March dropped down to around 17% from the 35% cha...
USD started the session weaker with the US dollar index (DXY) hitting a low of 102.94, as it was weighed on by dovish economic data, with misses in ADP employment and Employment Cost Index. This turned around dramatically after what was seen as a hawkish result out of the FOMC where the Fed left rates unchanged as expected but pushed back on the ma...
USD was flat on Tuesday with the US dollar index (DXY) trading either side of the 200-day SMA and 50% Fib level at 103.50. FX traders turning their attention to the pivotal FOMC rate decision on Wednesday followed by the non-farm employment report on Friday. A better than expected JOLTS job opening report lending some support early in the session t...
FX traders have a bumper week of major economic announcements to navigate, with markets in a holding pattern awaiting the pivotal January Federal Reserve meeting, adding to that a Bank of England policy meeting, CPI readings out of Australia and Europe topped off by the US non-farm employment report. The Charts to Watch: AUDUSD – Aussie CPI...
USD was ultimately lower on Wednesday after a rollercoaster of a session. Broad risk-on sentiment early on saw the Dollar Index (DXY) plummet to hit a low of 102.77 until strong S&P Global Flash PMIs coupled with souring risk sentiment after a dismal US 5yr auction saw a sharp turn-around. DXY retaking the 103 handle at session end, with the 50...
USD tracked higher with yields in Tuesday’s session with the Dollar Index (DXY) hitting a high of 103.820, setting a new YTD high and breaking through the key technical levels of the 200-day SMA as well as a 50% Fib resistance level. DXY saw initial weakness in the European morning which emanated from APAC hours amid a firmer post-BoJ Yen but rev...
Markets enter the new week with risk-on firmly the narrative with all three major US indexes hitting all-time highs last week. In FX markets, the positive market sentiment has seen the march higher in the US Dollar hit resistance and cyclical currencies AUD, NZD and GBP bounce. Ahead this week, traders have a slew of risk events to navigate with...
A hotter than expected CPI reading out of the UK along with a beat in US retail sales saw global markets turn risk off as rates markets hawkishly re-priced chances of cuts coming from Central Banks. The unwinding of priced in Fed cuts saw a spike in treasury yields and the USD bid, with DXY hitting a high of 103.69 after the December US retail s...
FX traders come into the new week with an uptick in tier one economic releases to look forward to after a very slow start to the year volatility-wise. Australian and US employment figures, UK CPI and US retail sales look to headline from Tuesday onwards (Monday is a US public holiday) The Charts to watch: AUDUSD AUDUSD has struggled to fin...
USD was ultimately flat in a choppy session on Thursday after hotter-than-expected US CPI data. The US Dollar Index (DXY) hitting briefly breeching the resistance at 102.63 to hit a high of 102.76. This proved to be another false breakout of this level with DXY gradually retracing for the rest of the session to unchanged levels. JPY outperfo...
USD saw weakness in Wednesday’s session with a risk on equity market and only a marginal move higher in yields weighing on the Greenback ahead of today’s key US CPI report. There was little in the way of major US data releases but some hawkish leaning comments late in the session from the Fed’s Williams stemmed losses. The US Dollar Index (DX...
Global markets chopped about in Tuesday’s session with no key data released with traders seemingly waiting on the sidelines for US CPI and a slew of bank earnings later in the week. Gold – XAUUSD XAUUSD rallied in Tuesdays APAC session testing the 2040 USD an ounce resistance level before a sharp drop as Europe opened saw drop to a low of...