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US Dollar May Rebound As FOMC Minutes Fade From View
The Fed Minutes seemed to pour a bit of cold water on the likelihood that a hike will materialize in March, although the priced-in probability of one didn’t budge from the 34 percent reflected in Fed Funds futures ahead of the release.
USD/JPY Inverse H&S Takes Shape Above 112.50; FOMC Minutes On Tap
The Japanese Yen outperforms its major counterparts, with the decline in USD/JPY largely accompanied by a pullback in the global benchmark equity indices.
USD/JPY, Gold Price Action Diverging From USD-Strength Theme
The early part of this week has seen price action re-drive up to resistance just ahead of the release of the Fed’s meeting minutes: And this could give the appearance that the USD trend-of-strength is ready for resumption.
DXY Looks To FOMC Minutes For More Evidence Of Impending Rate Hike
The US Dollar is on strong footing again this morning as lingering political risks in Europe and disappointing data out of the UK have kept the greenback in a favorable light among market participants.
US Dollar Pulls Back Vs. Yield-Sensitive FX As FOMC Minutes Loom
Currency markets have put in a mixed performance heading into Wednesday morning in European trade. The US Dollar is trading lower against particularly rates-sensitive alternatives at both ends of the policy spectrum.
Gold Price Chart Hints At Topping, Hawkish FOMC Minutes May Help
Gold prices bounced sharply higher finishing yesterday’s session little-changed having fallen nearly 1%. The metal recovered as the US Dollar retreated alongside Treasury bond yields, boosting the appeal of non-interest-bearing and anti-fiat assets.
Resilient Core Retail Sales To Curb Canadian Dollar Weakness
Even though Canada Retail Sales are projected to hold flat in December, a pickup in core spending may curb the near-term rebound in USD/CAD keeping the exchange rate within a narrow range as it highlights an improved outlook for growth and inflation.
Crude Prices Flirt With Key Resistance- 2017 Opening Range Intact
Crude prices are once again probing a critical resistance range tested earlier this year at 54.74- 55- this region is defined the 78.6% retracement of the decline off the 2015 high & the 61.8% extension of the advance off the 2016 low.
USD/CAD Constructive Above 1.3070 Ahead Of Canada Retail Sales
USD/CAD responded yet again to the June trendline support last week (5th time) with the rebound now eyeing near-term resistance targets.
EUR/USD Losses Favored On RSI Trigger; Fed Mulls March Rate-Hike
EUR/USD quickly approaches the monthly low (1.0521), with the pair at risk for further losses especially as the RSI flashes a bearish trigger, with former trendline support now acting as resistance.
Dollar Tests A Key Resistance Level As EUR/USD Sits On Support
One area where a recent up-tick in USD-strength has shown up is against the Euro. The January pull-back in the strong-Dollar theme ran EUR/USD higher by almost 500 pips. But as strength returned in February, EUR/USD began to fall.
DXY Aims For Monthly Highs As Fed March Hike Odds Increase
With the US economy at "full employment" and signs that inflation pressures are pushing through the Fed’s +2.0% medium-term target, Federal Reserve officials have publicly left the door open for a rate move in March.
US Dollar May Rise On Fed-Speak, Pound At Risk On Carney Comments
The US Dollar outperformed in overnight trade as markets looked on to a busy week of Fed commentary that may boost near-term rate hike speculation. Recent remarks from central bank officials including Chair Yellen have struck a hawkish tone.
Crude Oil Prices Look To IP Conference As Deadlock Continues
The WTI contract has been stuck in a narrow congestion range, with ATR-measured volatility down to the lowest level since mid-2004, as traders weigh up OPEC’s supply cut deal against swelling swing supply.
China’s Market News: The PBOC Revises Yuan Reference Rate Mechanism
The PBOC has reduced the reference period of Yuan trading against basket currencies since Feb. 20.
FX Markets Wait On UK GDP, Euro-Zone Inflation, And FOMC Minutes
The minutes from the Federal Reserve’s first meeting of the year will likely showcase the cautious optimism US policy officials have over their ability to normalize rates further this year.
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