MUFG Research maintains a short AUD/JPY position in its trade of the week portfolio. MUFG targets 88.70 with a stop at 94.20. “We are maintaining our short AUD/JPY trade idea in anticipation that the JPY will continue to rebound and recent AUD gains are premature,” MUFG writes. For bank trade ideas, check out eFX Plus.
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Next week, not only gold investors but all the financial market participants are likely to exercise caution ahead of three key events: the Federal Reserve’s monetary policy decision due on the 14th, the European Central Bank’s Monetary policy decision due on the 15th, and Bank of England’s monetary policy decision due on 15th. In addition,
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The one-year oil curve fell into contango today as front-month prices continued to crumble. I think the focus on the curve structure is overdone, especially with uncertainty about China’s reopening timeline, but that likely kicked off a final press towards $70. Bidders just above $70 finally stepped in, some perhaps on hopes for an OPEC
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The economy is facing an outlook bleaker than a Welsh weather forecast, and few are rushing to buy risk assets. Here are a few tips for weathering unfavorable market conditions. Option #1: Save cash There’s no shame in sitting on the sidelines and saving cash or stablecoins. When bullish momentum returns, you will have plenty
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Trading in the markets was rather subdued last week. Canadian Dollar was an exception, as it was pressured by falling oil price and a dovish BoC hike. The Loonie just closed marginally higher against Yen, which was also soft. On the other hand, Swiss Franc was the best performer, followed by the resilient Aussie and
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SPX weekly It was a tough one for US equities this week and it ended on a soft note after a back-and-forth session. Today’s hot PPI number and better UMich sentiment raised some questions about whether Fed hikes are working enough to cool inflation and whether Powell could take a hawkish stand next week. I
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The US Michigan Consumer Confidence Index improved to 59.1 in December. The uncertainty surrounding the US Federal Reserve’s decision weighs on mood. EUR/USD eases following upbeat US data but holds above 1.0500. Despite a knee-jerk mid-week, the EUR/USD pair is comfortably trading above the 1.0500 threshold, seesawing around 1.0530 following the release of the December University
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