Share: This month in the G10 space, the Dollar is only stronger against the Yen. Economists at ING analyze the USD outlook. DXY can probably edge down to the 102.00 area In the short term, the Dollar may well stay soft against most currencies except the Japanese Yen, with the Bank of Japan remaining resolutely
The Federal Reserve this week was a bit more hawkish by keeping interest rates steady at 5.00-5.25 but raising their projected terminal rate by 50 basis points in the Dot Plot. The FOMC decided to take a pause in this meeting to gather additional economic data before deciding on a possible interest rate hike in
In case you missed it: BNP Paribas now sees the terminal rate at 4.00%, up from its previous forecast of 3.75%, and that view is also shared by UniCredit as they also lift their peak rate forecast for the ECB to 4.00% as well. In terms of market pricing, roughly 40 bps more worth of
Gold prices traded in the red on Friday but managed to trade off two-month lows following a fall in the dollar index to levels below 103. MCX August gold futures were trading at Rs 59,330 per 10 grams, down Rs 25 or 0.04% while July silver futures rose Rs 192 per kg or 0.27% to
Fed clearly delivered a hawkish hold overnight, signaling that two more rate hikes are underway. However, market participants appear skeptical about the Fed’s aggressive posture. According to Fed funds futures, markets are still projecting interest rate to peak at 5.25-5.00%, anticipating just one more 25-basis point rate hike in July. Moreover, there’s over 60% chance
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A United States federal judge is reportedly weighing a proposal to split former FTX CEO Sam Bankman-Fried’s (SBF) criminal charges into two trials following a filing from prosecutors. According to a June 15 report from the Wall Street Journal, Judge Lewis Kaplan of the Southern District of New York was considering whether to dismiss or
Share: The Swiss Franc is on the march but a correction is eyed for. USD/CHF bulls are lurking in what could be a support area for the coming sessions. The Swiss Franc rallied in tandem with the Euro on Thursday which made a fresh four-week high against the US Dollar after the European Central Bank lifted interest
EURUSD tests the topside swing area. The EURUSD has extended to yet another new high end and the process is testing the next target swing area between 1.0933 and 1.0942. I outlined this level in the earlier post/video (see video here). The area was a solid floor gone back in time before breaking on May
US May retail sales (headline) CIBC reviews today’s US retail sales report and notes that the overall picture is of a consumer that’s slowly decelerating. They note that real control group sales are still 3.9% above the pre-pandemic trendline and that leaves “excesses to be drained”. I wonder if the boost in housing prices doesn’t
Gold price plunged Rs 550 to Rs 59,700 per 10 gram in the national capital on Thursday amid weak global trends, according to HDFC Securities. The precious metal had ended at Rs 60,250 per 10 gram in the previous trade. Silver also tumbled Rs 900 to Rs 72,600 per kilogram. “Gold extended its fall in
Euro is making notable gains following ECB’s decision to increase interest rates by a widely anticipated 25bps. The real kicker, however, is the significant upward revision of core inflation forecasts for both the current and following years, pushing the common currency up across the board. Swiss Franc capitalized on Euro’s rally, securing its spot as
Share: European Central Bank is widely expected to raise key rates by 25 bps on Thursday. Will the ECB hint at a potential September rate hike pause? Euro braces for wild action on the ECB decision and President Lagarde’s presser. European Central Bank (ECB) is set to announce another rate hike on June 15, Wednesday,
There is a little bit of this and a little bit of that in the Fed Chair comments and in the markets: In the forex, the major indices saw the dollar spike higher and then retrace. The US yields moved higher and came back off. The US stocks fell and recovered. EURUSD: The EURUSD moved
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Bullion prices fell sharply in the opening trade on Thursday on a stronger Dollar Index and the Federal Reserve’s assertions that the Central Bank could go for two more rate hikes by the end of this year. The Fed commentary strengthened the greenback and led to slippages in the price of gold and silver. MCX