The GBP/JPY is down in the week, 0.02% amongst a risk aversion environment. Russia/Ukraine news headlines dominate the trading session, safe-haven peers advance. GBP/JPY Weekly Outlook: From a weekly chart, it faces a wall of resistance around 158.00. GBP/JPY Daily Outlook: Neutral-upwards above 155.30, otherwise neutral. The GBP/JPY eyes to end the week flat in
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Senior Economist at UOB Group Alvin Liew comments on the recent publication of the FOMC Minutes of the January event. Key Takeaways “The Jan FOMC minutes noted that most participants thought it was warranted the Federal Reserve should hike the Fed Funds Target Rate (FFTR) at a faster pace this time compared to 2015 due
USD/CAD is sensing resistance near 1.2715 as WTI prices consolidate. The risk-off impulse in the market is not favouring the DXY. Oil prices seesaw between the US-Iranian nuclear deal and the Russia and Ukraine tussle. The USD/CAD pair is hovering in the vicinity of 1.2700 with a high of 1.2714 recently printed as West Texas Intermediate (WTI),
NATO Secretary-General Jens Stoltenberg said on Thursday that the defensive alliance is concerned that Russia is trying to stage a pretext for an invasion of Ukraine, according to Reuters. Stoltenberg continued that NATO has intelligence that Russia is trying to stage a false-flag operation and reiterated that NATO nations remain concerned that they have not
AUD/USD prints three-day uptrend while poking weekly high on mixed Aussie jobs data. Australia Employment Change rose past forecasts, Unemployment Rate met expectations in January. Risk appetite remains fragile over Russia, Fed concerns, yields, equities drop of late. Second-tier US data will decorate calendar but qualitative catalysts are the key to watch for clear direction.
European Central Bank Governing Council member and Latvian Central Bank Governor Martins Kazaks said on Wednesday that an interest rate hike this year is “quite likely”. Kazaks said he recommends a careful, phased policy adjustment and said that money market bets, which attribute some possibility to a first ECB rate hike by the end of H1
“The US Federal Reserve will kick off its tightening cycle in March with a 25-basis-point interest rate rise,” said the latest Reuters poll of economists. The survey results, however, also mentioned, “But a growing minority say it will opt for a more aggressive half-point move to tamp down inflation,” Key quotes Now that the economy
Nvidia shares are trading higher in anticipation of earnings on Wednesday. NVDA stock is likely also benefitting from a reduction in geo-political tensions. Nvidia stock seeks to regain bullish momentum despite 2022 struggle Nvidia shares were a top performer for holders in 2021, but 2022 has not been as kind so far. This trend is not stock
Japans Gross Domestic Product preliminary for the fourth quarter arrived 2021 +1.3% QoQ vs. expected 1.4%. The markets are instead fixated on geopolitics so the data had no effect on the price of the yen. The probabilities of an imminent attack on Ukraine were higher on Monday after President Volodymyr Zelenskiy urged Ukrainians to fly the country’s flags from
TSLA drops nearly 5% on Friday as macro factors in charge. All EV stocks LCID, Chinese names suffer the same fate. Tesla once again is targetting its 200-day moving average. Tesla (TSLA) followed many EV names (all, if we are correct) lower on Friday as macro factors took charge over equity markets. The dominant theme so far
USD/CAD snaps two-day uptrend, justifies bearish candlestick formation. Downbeat Momentum line, short-term bearish chart pattern also keeps sellers hopeful. 100-SMA, channel’s support lure bears, bulls need validation from January’s top. USD/CAD consolidates recent gains inside a bearish channel formation, stepping back from the resistance line to 1.2730 during Monday’s Asian session. In doing so, the
WTI has ebbed back to the low $93.00s after spiking to the $94.60s on reports a Russian invasion of Ukraine is imminent. US National Security Advisor Sullivan pushed back against an earlier report that the admin thought Russia would invade next week. If Russia does attack next week as US press reported, many traders would
The S&P 500, the Dow Jones, and the Nasdaq Composite fell between 1.43% and 3.07%. Ukraine/Russia conflict escalation points towards a Russia’n invasion as reported by US press, confirmed by the US Security Advisor. Market sentiment was dismal, as safe-haven flows like gold, the USD, and the yen dominated the end of the week. Western
The USD/JPY is barely flat during the day, as market mood conditions remain mixed. US Treasury yields advance, led by the 10-year above the 2% mark. USD/JPY bias is tilted upwards as USD buyers attack 116.00, followed by the YTD high. The USD/JPY barely falls during the North American session, following Thursday’s volatile trading day,
As a result of the last European Central Bank meeting, analysts at Rabobank revised EUR/USD forecasts to the upside. Now they expect the pair to drop to 1.11 by mid-year down from their previous target of 1.10 Key Quotes: “We have moderated our EUR/USD forecasts in light of the hawkish pivot at the ECB’s February
AUD/USD witnessed heavy selling on Friday and moved further away from a three-week high. Rising bets for a 50 bps Fed rate hike continued underpinning the USD and exerted pressure. The risk-off mood also contributed to driving flows away from the perceived riskier aussie. The AUD/USD pair recovered a few pips from the daily low
Raising the European Central Bank’s main interest rate now would not bring down record-high eurozone inflation and only hurt the economy, ECB President Christine Lagarde said in an interview published on Friday. Key quotes Raising rates would not solve any of current problems. Highly unlikely that oil price will continue climbing at 2020-2022 pace. Confident
NYSE:BABA gained 3.77% during Wednesday’s trading session. Softbank has denied rumors that it is selling its stake in AliBaba. AliBaba is teaming up with Salesforce.com for its new Social Commerce project. NYSE:BABA bounced back to positive territory for the year on Wednesday, as the Chinese eCommerce and tech giant shrugged off Monday’s sell off. Shares