The Japanese yen continues to rally. USD/JPY is trading at 148.86 in the European session, down 0.31% on the day at the time of writing.
02-08-2024 06:43 GMT
by Kenneth Fisher
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The Federal Reserve left interest rates unchanged, but the statement acknowledges a moderating job market and slightly elevated inflation, opening the door for a potential September rate cut.
The US Dollar initially weakened after the FOMC meeting but has since rebounded, supported by the 104.00 level.
USD/CAD faced resistance at 1.3850 and could potentially break higher if the US Dollar Index continues to strengthen. Will jobs data be the catalyst?
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01-08-2024 12:23 GMT
by Zain Vawda
The British pound has fallen sharply on Thursday. GBP/USD is trading at 1.2774 in the North American session, down 0.63% on the day.
01-08-2024 12:11 GMT
by Kenneth Fisher
The Australian dollar has edged lower on Wednesday. AUD/USD is trading at 0.6525 in the North American session, down 0.14% on the day.
31-07-2024 12:04 GMT
by Kenneth Fisher
The market anticipates a shift in the Fed's stance, with three rate cuts now expected in 2024 due to softening economic data.
A soft landing remains possible as the labor market cools and inflation shows signs of easing.
Technical analysis suggests GBP/USD is consolidating, EUR/USD maintains a bullish structure, and the Dollar Index (DXY) is at risk of a sharp decline.
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FOMC Preview: September Cut Most Likely
Marke
31-07-2024 10:03 GMT
by Zain Vawda
The Japanese yen continues to sparkle. USD/JPY is trading at 150.27 in the European session, down 1.62% on the day at the time of writing.
31-07-2024 08:37 GMT
by Kenneth Fisher
Gold and oil prices have surged due to rising tensions in the Middle East.
Gold with a trendline break as bulls eye $2480/oz, FOMC meeting next.
Brent crude oil found support around the 78.00 handle and is currently trading at 80.82 a barrel, with potential for further upside due to geopolitical risks.
31-07-2024 05:14 GMT
by Zain Vawda
BoJ hiked its overnight interest rate to 0.25% and announced its “Quantitative Tightening” plan, without much major surprises.
USD/JPY sold off but still hovering above its 151.70 key short-term support.
Cannot rule out the possibility of another minor mean reversion rebound in USD/JPY before a bearish impulsive down move sequence unfolds with next medium-term support supports coming in at 149.50 and 146.20/144.60.
This is a follow-up analysis of our prior report, “USD/JPY Technical: Potent
31-07-2024 03:50 GMT
by Kelvin Wong
The Australian dollar has edged lower on Tuesday. AUD/USD is trading at 0.6535 in the North American session, down 0.21% on the day.
Australian CPI expected to rise to 3.8%
Australia will release second-quarter CPI early Wednesday, with expectations that inflation is moving the wrong way.
30-07-2024 12:11 GMT
by Kenneth Fisher
The GBP/USD pair is currently experiencing a standoff between bulls and bears, with the pair clinging to support at the 1.2850 level.
The upcoming Federal Reserve and Bank of England policy meetings are adding to market uncertainty, with the odds of a BoE rate cut hovering around 58%.
UK Finance Minister Rachel Reeves has announced immediate spending cuts, citing the unsustainability of public finances.
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Cable has h
30-07-2024 06:10 GMT
by Zain Vawda
The Japanese yen has sparkled in the second half of July but has lost steam this week. USD/JPY is trading at 154.88 in the European session, up 0.57% on the day at the time of writing.
To hike or not to hike
The Bank of Japan meets early Wednesday and the markets aren’t sure what to expect.
30-07-2024 06:04 GMT
by Kenneth Fisher
OANDA Senior Market Analyst Kelvin Wong joins Jonny Hart to discuss this week's key economic data and events as well as the impact on global markets. Pivotal week peppered with major risk events; a trio of key central bank monetary policy outcomes (Fed FOMC, Bank of Japan, and Bank of England) and US non-farm payrolls data for July to wrap up the week.
30-07-2024 00:12 GMT
by Kelvin Wong
Bitcoin's price approached the $70,000 psychological mark but faced rejection.
Open interest in Bitcoin futures’ has reached a new all-time high, suggesting that investor demand for the world’s largest cryptocurrency is increasing.
29-07-2024 13:01 GMT
by Zain Vawda
The Australian dollar is back in negative territory today after ending a nasty skid on Friday. AUD/USD is trading at 0.6537 in the North American session, down 0.17% on the day.
29-07-2024 12:10 GMT
by Kenneth Fisher
The Japanese yen continues to show volatility but has closed right where it started over the past few sessions. USD/JPY is trading at 153.65 in the European session, up 0.04% on the day.
29-07-2024 06:17 GMT
by Kenneth Fisher
Last week's drop of 2.8% seen in the USD/JPY has almost reached a key support of 151.70.
An overstretched decline with high volatility on top of an oversold condition increases the odds of a mean reversion rebound scenario for USD/JPY.
Watch the potential upside trigger of 154.10 on the USD/JPY.
This is a follow-up analysis of our prior report, “USD/JPY: Another potential relief rally leg looms for JPY” published on 22 July 2024. Click here for a recap.
The price actions of the Japanese yen ha
29-07-2024 05:54 GMT
by Kelvin Wong
Global markets experienced a volatile week, influenced by a tech selloff, China growth concerns, and anticipation of central bank decisions and US earnings reports
Despite the volatility and tech led selloff, US equity funds saw inflows.
Central bank meetings, particularly the FOMC and BoJ, and US NFP data will be key drivers of market sentiment in the coming week.
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Week in Review: Sentiment Overshadows
26-07-2024 13:47 GMT
by Zain Vawda
The recent weakness seen in Gold (XAU/USD) is likely to be driven by US politics as the “Gold premium” has moved in synch with the betting odds of Republican nominee Trump winning the US Presidential Election.
The US Treasury market is likely to take a driver's seat now as the focus returns to the monetary policy guidance from the outcome of the US Fed FOMC meeting next Wednesday, 31 July.
26-07-2024 07:19 GMT
by Kelvin Wong
The Japanese yen has hit the brakes on this week’s impressive rally. USD/JPY is trading at 154.34 in the European session, up 0.30% on the day.
26-07-2024 04:49 GMT
by Kenneth Fisher
The euro is up slightly on Thursday. In the North American session, EUR/USD is trading at 1.0863, up 0.22% on the day at the time of writing.
German business climate slips to 5-month low
Germany continues to post weak data this week.
25-07-2024 11:51 GMT
by Kenneth Fisher