The Japanese Yen fails to capitalize on its modest intraday gains amid BoJ rate hike uncertainty. Reduced bets for aggressive Fed rate cuts revive the USD demand and lend support to USD/JPY. Intervention fears and geopolitical risks could help limit any further losses for the safe-haven JPY. The Japanese Yen (JPY) surrenders a major part…
Christine Lagarde, President of the European Central Bank (ECB), explains the ECB’s decision to lower the benchmark interest rate by 25 basis points at the October policy meeting and responds to questions from the press. ECB press conference key quotes “Incoming data suggest that activity is weaker than expected.” “Investment is expanding only slowly.” “Recent…
EUR/USD shed another fifth of a percent on Tuesday. ECB Bank Survey results trimmed bullish Euro potential. ECB broadly expected to deliver another 25 bps rate cut this week. EUR/USD fell further into the bearish side on Tuesday, declining one-fifth of one percent and slipping below the 200-day Exponential Moving Average (EMA). Price action closed…
EUR/GBP struggles for a firm near-term direction as traders keenly await the ECB on Thursday. The ECB is expected to lower interest rates again amid easing inflation and economic slowdown. Bets for an aggressive BoE policy easing undermine the GBP and act as a headwind for the cross. The EUR/GBP cross extends its sideways consolidative…
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Friday that Fed officials are finally beginning to catch up with the broader market’s view that the time has come for movement from the US central bank on policy rates, but downplayed discussion of a larger opening cut in September. Key highlights The job…
The People’s Bank of China, the Chinese central bank, said in a statement released on Thursday that they will stick with a supportive monetary stance.” Additional takeaways Will step up counter-cyclical adjustments. Will strengthen financial support to the real economy. Will study new policy measures, strengthen coordination and cooperation of macro policies. Will support the…
Gold prices jump over 1% after Fed Chair Powell hints at upcoming rate cuts, expressing confidence in inflation nearing the 2% target. The US Dollar Index (DXY) falls 0.82% to 100.68, as Powell’s remarks push traders to bet on a 50 bps rate cut in September. US 10-year Treasury yields drop five basis points to…
EUR/USD floundered on Wednesday as markets remain tepid. Investors taking a breather after a rough rebalancing late last week. Despite breaking higher in recent days, Fiber bids run out of steam. EUR/USD paddled in a tight circle on Wednesday, churning just above the 1.0900 handle as Fiber traders take a breather from recent volatility sparked…
EUR/USD bumps back over 1.0900 after bad US NFP print. Broad-market concerns of a US slowdown jumped on Friday. Coming up next week: US ISM Manufacturing PMI, EU Retail Sales EUR/USD caught a ride higher on Friday after the Greenback got pummeled following a bad data beat in US Nonfarm Payroll (NFP) figures. Market fears…