EUR/USD Turns to the ECB after its First Profitable Month of 2024
The pair comes from its first profitable month of the year, but now looks to Thursday’s pivotal ECB decision, as the central bank could slash rates after ten hikes
Page 7 of 88
The pair comes from its first profitable month of the year, but now looks to Thursday’s pivotal ECB decision, as the central bank could slash rates after ten hikes
Japan’s Ministry of Finance confirmed Friday its first currency intervention since 2022, after the yen plunged to a 34-year low in April. Between April 26 and May 29, Japan spent 9.7885 trillion yen ($62.25 billion) on intervention, coinciding with a sharp yen rebound. The yen hit 160.03 against the U.S. dollar on April 29, prompting speculation of intervention, and strengthened over 2% shortly after. Analysts estimated the initial intervention at…
The pair dropped to the lowest since August 2022, as the ECB is widely expected to cut rates next week, whereas the case for a BoE June pivot has become harder
The PCE is the Federal reserve’s preferred measure of inflation, and the April number is due for release on Friday. It will influence market participants’ views on the central bank’s monetary policy path.
The pair has made a strong start to the week, but monetary policy dynamics are unfavorable, while markets brace for incoming inflation reports from both sides of the Atlantic
Canadian CPI moderated according to today’s data, helping the pair’s bounce from critical support levels, as it strengthens the case for a BoC pivot
The pair rebounds after the pullback from its four-decade highs and the speculated FX intervention, with investors now looking forward to Wednesday’s US CPI inflation
The Japanese yen hit a 34-year low against the dollar on Monday before rebounding, amidst speculation of official intervention. Thin trading in Japan due to Shōwa Day saw the USD/JPY swiftly rise, reaching its weakest level against the dollar since 1990. This year, the USD/JPY has gained around 12%, driven by widening bond yield differentials. While US 2-year Treasury yields rose by 75 basis points to 5%, Japan's 2-year bond…
The pair hit the highest levels since late-1986 after Friday’s BoJ policy decision and hot US inflation, but slides from the peak, sparking speculation around possible intervention from Japanese authorities
The pair drops after the European Central Bank laid the groundwork for upcoming rate cuts, while pricing for a Fed move is pushed beyond summer following the hot CPI report
US inflation accelerated according to Wednesday’s data, which raise the bar for a Fed pivot, while the Bank of Canada opened the door to a June cut
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.