Page 82 of 96
The Turkish lira dropped to record lows against the dollar after its central bank lowered its repo rate by 100bps to 14% yesterday. This is despite an inflation rate that has surged in 2021 to above 17%. Moreover, the inflation rate has ticked up in recent months after the bizarre implementation of monetary policy, which flies in the face of traditional economic theory. The weekly chart below displays the capitulation…
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
The Bank of England (BoE) decided to raise interest rates for the first time since the pandemic, in the face of surging inflation
The pair saw a surge in volatility during yesterday’s Fed monetary policy decision, but ended the day higher and today it extends gains with an eye on the ECB
Read the daily market update as we head towards the European open, to get some of the latest developments, main market moves and upcoming events
As we head into the next tightening cycle, it is informative to consider the relationship between the dollar and gold. To this end, below is the weekly relative strength chart of FXCM's USDOLLAR basket and our XAUUSD instrument. The chart has a cyclical component to it. Between 2011-2013, the ratio formed a base or accumulation pattern (first green rectangle). When this completed, the greenback appreciated against the precious metal in…
UK inflation surge, generated volatility and put pressure on the pair, with market participants awaiting Thursday’s monetary policy decisions by the central banks of England and Europe
The dollar's momentum has slowed as we head towards the FOMC statement release tomorrow (15 December) at 7:00 pm GMT. This is to be expected, as the tone of the statement will be a key focal point for market participants. However, December has been a less volatile month for the greenback. At the time of writing the December range of FXCM's USDOLLAR basket is only about 35% of November's range.…
The pair extends yesterday’s losses since broader sentiment was cautious overnight, but finds support as we head towards the open of European markets
The pair starts the week on the back foot, as the US Dollar attracts flows, following Friday’s negative reaction the US inflation figures
The week starts on the back foot, as fresh Omicron warning in the UK weigh on the Pound, following Friday’s US CPI-fueled rebound
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.