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FXCM’s USDOLLAR tracked US yields lower following yesterday’s FOMC rate announcement and press conference. Fed chair Powell stated that the Fed “could afford to be patient” due to its interest rate increases to date. It also was clear that the Fed is data dependent choosing not “to provide a lot of forward guidance.” The next meeting is some time away on 20 September. The Fed will have seen two CPI…
Watch today’s US Open for insights China’s economic support pledge, the Fed’s upcoming policy decision, Big Tech earnings and more
After its best week of the year, the pair trades with caution today ahead of key policy decisions by the central banks of the US and Japan
Watch today’s US Open for insights on the quarterly results from Tesla and Netflix, the soft CPI report from the United Kingdom and more
Watch today’s US Open for insights on the latest disappointing data from China, upcoming UK inflation release and highly anticipated earnings from Tesla and Netflix and more
The pair loses some momentum, but sustains its bullish bias after its best week of 2023, which was fueled by the soft CPI inflation report from the United States
Watch today’s US Open for insights on the soft US CPI inflation report that brings the US Dollar down, the watershed pause by the central bank of New Zealand and more
Earlier in the week we tracked the USDOLLAR’s symmetrical triangle pattern, noting that the lower boundary was being tested. FXCM’s USDOLLAR basket has now broken down out of the pattern, close to the apex of the triangle. In conjunction the weekly RSI has dipped below 50, which is on the bearish side of the oscillator. The longer the RSI maintains this position, the greater the likelihood of further downside pressure…
The pair extends its gains to new 2023 highs, after both core and headline US CPI eased significantly in June, which weighs on the greenback as it may constrain the Fed’s aggressiveness
The RBNZ kept rates unchanged after twelve consecutive increases, in watershed moment for a central bank that has been at the forefront of monetary tightening
Watch today’s US Open for commentary on UK’s strong wage growth that keeps pressure on the BoE, China’s deflation concerns, key upcoming events and more
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