FX Weekly Recap: September 23 – 27, 2024

Labour MPs are calling for a close to the “endless drama” of leadership speculation, as Downing Street begins a fightback against predictions of an imminent challenge to Keir Starmer. Some backbenchers warned that repeated briefings about how and when the prime minister could be toppled were putting off voters, who similarly had disliked the Conservatives’…

The Japanese yen has earned a reputation as one of the world’s most reliable safe-haven assets. When markets panic or economies wobble, investors rush toward the Japanese yen. Despite Japan’s low interest rates and decades of slow growth, the currency consistently strengthens during global uncertainty. This pattern raises an important question: why do traders trust…

EUR/USD’s gyrated lower last week but recovered ahead of 1.1662 support. Initial bias remains neutral this week first, and further rise is in favor. On the upside, sustained trading above 61.8% retracement of 1.2081 to 1.1408 at 1.1824 will pave the way to retest 1.2081 high. However, firm break of 1.1662 support will indicate the…

A bad example is contagious. Following Donald Trump telling the Fed what to do, European leaders began attacking the central bank. Emmanuel Macron said that the ECB should start thinking differently and adjust monetary policy. Inflation cannot be the only goal, we need to pay attention to economic growth and employment. Coupled with the dovish…

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