USD/JPY: The current general bias for USDJPY on the H4 chart is bearish. Overnight, USDJPY experienced increased volatility due to the FOMC news release at 2am New York time, with price closing under the 1st Read more…
China Caixin PMI Services dropped from 49.3 to 48.4 in October, below expectation of 49.2. PMI Composite dropped from 48.5 to 48.3. Both were the lowest readings since May. Wang Zhe, Senior Economist at Caixin Read more…
RBNZ Governor Adrian Orr told a parliamentary committee that the central bank has “laser-like focus” on bringing inflation down to target. Yet, he admitted that, “the (inflationary) shocks still arriving through the global economy are Read more…
US stocks initially jumped after Fed hinted in the statement that pace of tightening could slow ahead. But sentiment reversed after Fed chair Jerome Powell indicated that slower pace of hikes might come soon, Fed Read more…
Key Highlights Bitcoin price climbed above $20,000 but struggled near $21,000. It broke a key bearish trend line with resistance near $19,370 on the 4-hours chart. The price could resume upside if it clears the Read more…
Fed Review: Another Hawkish 75bp Hike – We Now Expect 50bp also in February Fed hiked rates by 75bp as broadly expected. Powell delivered a hawkish message, emphasizing the need to tighten financial conditions further. Read more…
Summary The FOMC raised its target range for the federal funds rate by 75 bps today, which was widely expected. Today’s statement was very similar to the one that was released after the last meeting Read more…
The Fed hiked rates by 75bps to bring the Fed Funds rate to the 3.75%-4.00% range, as expected. For a complete rundown and FOMC recap, see my colleague Matt Weller’s article here. Why was it Read more…
As we noted in our FOMC meeting preview report, the market had a 75bps interest rate hike priced in for weeks, and not surprisingly, that’s exactly what the central bank delivered. Therefore, we haven’t seen Read more…
EURJPY reversed from multi-year resistance level 148.00 Likely to fall to support level 144.00 EURJPY currency pair recently reversed down from the multi-year resistance level 148.00 (which stopped the sharp uptrend in 2014), standing above Read more…