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FOMC Preview: What to Expect and How Will it Impact the US Dollar?

The FOMC meeting today is highly anticipated due to uncertainty surrounding future US monetary policy. Markets expect a 25 bps rate cut today and a slower pace of easing in 2025 due to President-elect Trump's policies. The Fed's reverse repo rate may be adjusted, potentially impacting the US Dollar's strength. Most Read: Gold (XAU/USD) Traders Await Fed Meeting: Will Prices Rally or Fall? The FOMC meeting today is key as interest rate meetings tend to be from the US. However, today's meeting is

18-12-2024 05:17 GMT by Zain Vawda

Canadian dollar falls to 9-month line, US CPI next

The Canadian dollar continues to lose ground. In the North American session, USD/CAD is trading at 1.4315, up 0.48% at the time of writing.

17-12-2024 12:18 GMT by Kenneth Fisher

Gold (XAU/USD) Traders Await Fed Meeting: Will Prices Rally or Fall?

Gold prices have dropped due to increased US Treasury yields, profit-taking, and the anticipation of a less dovish Fed outlook for 2025. The upcoming Fed meeting and its economic projections, especially regarding rate cuts, will significantly impact gold prices. India's gold imports are expected to decline in December due to a lack of festivals and rising gold prices.

17-12-2024 11:44 GMT by Zain Vawda

Australian dollar slips on soft consumer confidence

The Australian dollar is down sharply on Tuesday. In the North American session, AUD/USD is trading at 0.6337, down 0.52% at the time of writing. Consumer confidence slides Australia's Westpac consumer confidence index declined by 2% in December, from 94.6 to 92.2.

17-12-2024 10:55 GMT by Kenneth Fisher

Pound steady after hot UK wage growth, CPI next

The British pound is showing little movement on Tuesday, after jumping 0.57% a day earlier. In the European session, GBP/USD is trading at 1.2698, up 0.13% on the day. UK wage growth higher than expected UK wage growth excluding bonuses climbed 5.2% y/y in the three months to October, up from an upwardly revised 4.4% in the previous period and well above the market estimate or 4.6%.

17-12-2024 07:31 GMT by Kenneth Fisher

EUR/USD drifting after Euro PMI reports

The euro is slightly higher on Monday. In the North American session, EUR/USD is trading at 1.0500, up 0.02% at the time of writing. Mixed PMI eurozone report There was mixed news from Eurozone PMIs today.

16-12-2024 11:29 GMT by Kenneth Fisher

BoJ Rate Hike in Focus: USD/JPY, GBP/JPY Technical Analysis

Markets are pricing in a less than 20% chance of a BoJ rate hike this Thursday, despite earlier expectations of a 70% probability. JPY weakness has resumed as rate hike expectations have fallen, potentially pushing the BoJ to act. USD/JPY shows strong bullish momentum, but a BoJ hike could lead to a significant decline. A surprise rate hike by the BoJ could strengthen the JPY significantly, with more room for gains against the GBP than the USD.

16-12-2024 09:29 GMT by Zain Vawda

Pound higher as Services PMI rises, job report next

The British pound has moved higher on Monday, after declining 1% last week. In the European session, GBP/USD is trading at 1.2747, up 0.30% on the day. UK Services improves, manufacturing slips The UK Services PMI rose to 51.4 in December, up from 50.8 in November, which was a 13-month low.

16-12-2024 07:07 GMT by Kenneth Fisher

Gold Technical: A less dovish Fed may reinforce a medium-term corrective decline

The proposed policies of Trumponomics 2.0 may ignite a further uptick in inflationary expectations in the US. Market-transacted inflationary expectations gauge, the 5-year and 10-year US breakeven inflation rates have been trending higher since September 2024. The Fed may switch its current dovish monetary policy to a “wait and see” pivot stance on 18 December FOMC. Watch the US$2,716 key medium-term resistance on Gold (XAU/USD).

16-12-2024 05:38 GMT by Kelvin Wong

Markets Weekly Outlook - Will Fed Rate Cut and BoJ Decision Spur Volatility?

Markets had a volatile week, with US 100 (Nasdaq 100) reaching new highs and a strong likelihood of a Fed rate cut next week. Major central bank meetings dominate the week ahead. The BoJ faces a tough decision on whether to raise interest rates, with recent data supporting a hike. The US Dollar Index (DXY) is at a crucial resistance level, and its performance may be influenced by the Fed's interest rate decision and outlook.

13-12-2024 11:42 GMT by Zain Vawda

AUD/USD: Surviving at the 0.6360 key support (for now) but the long-term trend remains bearish

RBA has shifted to a less hawkish monetary policy stance. The interest rate swaps market has started to price in a higher chance of the first RBA interest rate cut to come in February 2025. The 2-year and 10-year yield spreads between Australian government sovereign bonds and US Treasuries continued to narrow. Growing risk for AUD/USD to stage a major bearish breakdown below 0.6360. This is a follow-up analysis of our prior report “AUD/USD: “Trump Trade” overshadowed a cautiously hawkish RBA, a

13-12-2024 03:51 GMT by Kelvin Wong

EUR/USD, GBP/USD Technical Outlook: Price Action Setups to Watch

The ECB implemented a 25bps rate cut, with some policymakers favoring a larger 50bps cut, and signaled potential for further cuts in the upcoming meetings. The BoE is expected to hold rates at its next meeting, and market participants are watching for indications of fewer rate cuts in 2025. EUR/USD is struggling to maintain levels above 1.0500, and GBP/USD faces potential downside below 1.2654. Most Read: Brent Crude – Oil Prices Rise Despite Largest OPEC Forecast Cuts of 2024 EUR/USD and Cable

12-12-2024 15:55 GMT by Zain Vawda

Swiss National Bank cuts by half-point, Swissy dips

The Swiss franc is down on Thursday following the Swiss National Bank rate announcement. In the North American session, USD/CHF is trading at 0.8880, up 0.43% 80on the day at the time of writing. Swiss National Bank chops by 50 basis points Today's Swiss National Bank meeting was live, with the market uncertain as whether the SNB would cut rates by 25 or 50 basis points.

12-12-2024 10:23 GMT by Kenneth Fisher

Brent Crude - Oil Prices Rise Despite Largest OPEC Forecast Cuts of 2024

Oil prices rose despite OPEC downgrading its 2024 and 2025 global oil demand growth forecasts. The downgrade is attributed to China's slower demand and the rise of electric vehicles. The EU and US are considering further sanctions on Russia's oil trade, underpinning prices. Most Read: USD/CHF edges up ahead of SNB rate decision Oil prices continued its steady move higher on Wednesday, up around 1.27% at the time of writing.

11-12-2024 12:27 GMT by Zain Vawda

USD/CHF edges up ahead of SNB rate decision

The Swiss franc is slightly lower on Wednesday. In the European session, USD/CHF is trading at 0.8845, up 0.19% on the day. Swiss National Bank cut looms, but how much? 'Tis the season of central bank decisions, with four major central banks making rate announcements this week.

11-12-2024 11:49 GMT by Kenneth Fisher

USD/CAD steady ahead of BoC rate decision

The Canadian dollar is drifting on Wednesday, ahead of the Bank of Canada rate decision later today. In the European session, USD/CAD is trading at 1.4181, up 0.10% at the time of writing. BoC expected to slash rates by 50 basis points The Bank of Canada is widely expected to end the year on a bang with a dramatic 50-bp cut at today's rate meeting. The markets have priced in a 50-bp cut at 90%, so it would be a massive surprise if the BoC opts for a modest cut of 25 basis points.

11-12-2024 07:27 GMT by Kenneth Fisher

US Inflation and the Dollar Index (DXY) : A Pre-CPI Analysis

The upcoming US CPI data release on December 11th is a key event for markets, as it could influence the Fed's decision on interest rates at its December 18th meeting. While a rate cut is widely expected, a higher-than-forecast CPI print could raise questions about the Fed's path forward. The US Dollar has strengthened recently, partly due to positive economic data and a risk-off sentiment in markets. Can the Dollar continue its rise? Most Read: Gold (XAU/USD) Eyes $2,700 as Fed Rate Cut Looms,

11-12-2024 03:54 GMT by Zain Vawda

German inflation rises, euro edges higher

The euro is slightly higher on Tuesday. In the European session, EUR/USD is trading at 1.0528, down 0.23% at the time of writing. German inflation climbs to 2.2% Germany, the largest economy in the eurozone, remains a shadow of what was once the undisputed locomotive of Europe.

10-12-2024 08:15 GMT by Kenneth Fisher

AUD/USD rises after RBA holds rates

The Australian dollar continues to show strong movement and is down sharply on Tuesday. In the European session, AUD/USD is trading at 0.6400, down 0.61% at the time of writing. RBA maintains cash rate There was no surprise as the Reserve Bank of Australia stayed on the sidelines and maintained the cash rate at 4.35%.

10-12-2024 05:44 GMT by Kenneth Fisher

Gold (XAU/USD) Eyes $2,700 as Fed Rate Cut Looms, Geopolitics in Focus

Gold prices are being supported by a shift in Chinese monetary policy, and geopolitical developments. China has resumed gold purchases after a six-month pause. From a technical perspective, gold is currently caught between support at $2650 and resistance at $2700. A break above $2700 could signal further upside potential.

10-12-2024 05:39 GMT by Zain Vawda

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