Dollar retains gains on back of Powell’s speech; euro higher post ECB

Dollar retains gains on back of Powell’s speech; euro higher post ECB
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Dollar retains gains on back of Powell’s speech; euro higher post ECB
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AUDUSD jumped to two-week high (0.7116) in early Wednesday’s trading following release of Australian CPI data. Inflation remained elevated and unchanged in January compared to previous month (3.8%; Core 3.4% – the highest in 16 months) beating forecasts (3.3%; Core 3.7%) and boosting bets for another rate hike, after the RBA raised interest rates by…
The Japanese Yen has seen significant volatility in recent weeks, influenced by factors like US Dollar recovery and mixed Japanese economic data. USD/JPY shows potential for retesting the 150.00 level, with resistance at 146.37 and support around 143.60. EUR/JPY mirrors USD/JPY’s movements, with resistance at 163.50 and the potential for a 200-pip rally if it…
We expect the Federal Reserve to maintain its monetary policy unchanged next week, in line with broad consensus and market pricing. The Fed will not publish updated projections, so the focus is strictly on Powell’s remarks. We do not expect new guidance on the reserve management purchases or other balance sheet considerations. We maintain our…
The EUR/USD pair has struggled to find footing, trading below the $1.06 and vulnerable to further losses. Tuesday has been hit by latest escalation in Russia’s war against Ukraine, something which has also weighed on European shares. Meanwhile, the dollar has maintained its gains against most currencies except the safe-haven Japanese yen, which rose along…
XRP has started the new year on a positive note, now ranking third on market capitalization. The cross-border payment-focused cryptocurrency has now overtaken Tether’s USDT to become the third-largest cryptocurrency with a market cap of more than $141 billion. This achievement follows a significant rally driven by favorable market conditions, increased investor interest, and shifting…
The Japanese Yen attracts some flows amid fears of a possible government intervention. The BoJ rate-hike uncertainty and the risk-on mood could cap gains for the safe-haven JPY. The emergence of some USD dip-buying could further offers some support to USD/JPY. The Japanese Yen (JPY) reverses a modest Asian session dip and looks to build…