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USD/JPY Carves Bullish Series Ahead Of NFP On Hawkish Fed Rhetoric
USD/JPY may continue to retrace the decline from earlier this year as a growing number of Fed officials highlight a hawkish outlook for monetary policy, with U.S. Non-Farm Payrolls projected to increase another 190K in February.
How Much More Run For Record US Equities, Dollar On Fed Certainty?
US equities have charged to record highs while the Dollar has extended its restrained but steady approach amid certainty of a March Fed hike. These will be convictions difficult to sustain amid NFPs, trade policy debate and Brexit votes next week.
Oil’s Market Structure Shows Limited Downside, Charts Appear Bullish
The fundamental picture that supports the Oil market appears to be firing on all cylinders. On Friday afternoon, Fed Vice Chair Stanley Fischer said in a speech, “Almost no indicator has come in badly in the last three months.”
Gold Prices Remain In Bull Trend Despite 2nd Down Week In 10
For only the second time in ten weeks, gold prices finished the week lower. The biggest development of the past week driving gold lower was the Fed’s interest rate expectations.
Yuan To Take Clues From New Yuan Loans, NFP
The USD/CNH broke above a key level of resistance at 6.8845 on Friday, driven by the Dollar advance following an increased odds in Fed rate hike. The offshore pair also climbed above the PBOC’s guided level.
Equity Indices (S&P 500, DAX, FTSE 100) Look To Maintain Bullish Underpinnings
At the start of last week markets were quiet until U.S. President Donald Trump gave a speech to congress Tuesday evening, providing stocks with a shot in the arm on Wednesday. Most major global indices delivered impressive performances.
RBA, ECB, NFP To Drive Next Week’s Price Action
Next week brings a series of important events to markets, with the both Australian and European Central Banks hosting rate decisions; and on Friday of next week – we get what’s looking to be a pivotal Non-Farm Payrolls report.
Lackluster ISM Services To Tame USD Strength; All Eyes On Yellen
The ISM Non-Manufacturing survey may spark a lackluster market reaction as the index is anticipated to hold steady at 56.5 in February, but a positive development may heighten the bullish sentiment surrounding the U.S. dollar.
EUR/USD Carves Bearish Series Amid Growing Bets For Fed Rate-Hike
The failed attempt to break out of the descending channel keeps the near-term outlook for EUR/USD tilted to the downside, with the pair at risk of extending the recent series of lower highs & lows.
Dollar Surge Continues As Spotlight Moves To Potential March Hike
The Federal Reserve was persistently hawkish through the first half of February, but this did little to bring back the prior strength that had driven the Greenback-higher in a historic move after the U.S. Elections.
USD/CAD Tests 1.3360 Hurdle Even As BoC Warns Of Stronger 4Q GDP
With Canada’s growth rate projected to increase an annualized 2.0% in the last three-months of last year, a slowdown in economic activity may fuel the near-term advance in the USD/CAD as it encourages the BoC to tame interest rate expectations.
Gold Prices Narrowly Avoid Breakdown As Fed Rate Hike Bets Swell
Gold prices rebounded from session lows put in amid the return of the “Trump trade” as the PCE gauge of US inflation – the Fed’s favored price growth measure – undershot expectations.
Dollar’s Bullish Price Action To Fresh Highs; USD/JPY Leads The Way
Last night’s non-State of the Union address appears to be well-received by markets, at least thus far. As Donald Trump worked further into his Joint Address to the Union, US Equity Futures and the U.S. Dollar were both propelling-higher
Crude Oil Prices May Struggle To Rise As Inventories Swell
Crude oil prices remain stuck in a narrow range, dithering after completing a bullish Triangle chart formation. A daily close above the 55.21-65 area (January 3 high, 38.2% Fibonacci expansion) targets the 50% level at 57.18.
US Dollar Gains, Yen Falls As Trump Trade Finds New Life
The US Dollar edged fractionally lower from intraday highs as Trump spoke only to find a floor and erase much of the drawdown in the minutes after the address concluded.
Brexit Briefing: GBP/USD Needs Government Clarity Next Month
The uncertainty over Brexit negotiations needs clearing up as soon as possible but it is not the only worry for British businesses going forward, according to a new report from the British Chambers of Commerce.
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