Talking-Forex.com
Talking-Forex.com
Thursday’s session was a continuation of the USD sell off which has gathered significant momentum as expectations of a Fed rate this year fade. The market probability is less than 50% for one 25bp move this year, and having priced in four at the start of January, this shift has caused the USD index to fall from 99.63 to 96.26 in this week alone. Losses in USD/JPY stopped shy of 117.00 in North American trade Wednesday, but after a brief recovery, we returned through the figure, but stalled ahead of 116.50. EUR/USD gains have been just as strong, following the 1.1000 breach with strong gains into the mid 1.1200’s, though as in most cases, some consolidation in play now. CAD is the exception, holding close to the 1.3635 highs against the USD as WTI has pushed through $33.0. A big day for GBP, with the BoE vote split moving back to 9-0 for unchanged rates. This was tempered by governor Carney reiterating the next rate move is up, and after a brief hit down to the low 1.4500’s, Cable returned to post fresh recent highs to 1.4668/70. EUR/GBP broke up to .7700, but was quickly knocked back. Pre China New Year gains in the CNH saw the spread over CNY wiped out – both rates below 6.5700. In EM, strong gains in BRL, but Oil related pairs lagging.
The information within this website has been prepared and issued by Talking Forex on the basis of publicly available information and other sources believed to be reliable. Whilst all reasonable care is taken to ensure that the facts stated are accurate, neither Talking Forex nor any director, officer or employee shall in any way be responsible for its contents. This document is intended to provide clients with information and should not be construed as an offer or solicitation to buy or sell securities.You may cancel your service at any time, just contact us from the FAQ/support page quoting your registration email address and we will cancel your subscription as of the next billing cycle or refund your trial deposit.
Recommended Content
Editors’ Picks
EUR/USD turns negative near 1.0760
The sudden bout of strength in the Greenback sponsored the resurgence of the selling pressure in the risk complex, dragging EUR/USD to the area of daily lows near 1.0760.
GBP/USD comes under pressure and challenges 1.2500
GBP/USD now rapidly loses momentum and gives away initial gains, returning to the 1.2500 region on the back of the strong comeback of the US Dollar.
Gold retreats from highs on stronger Dollar, yields
XAU/USD trims part of its initial advance in response to the jump in the Dollar's buying interest and the re-emergence of the upside pressure in US yields.
XRP tests support at $0.50 as Ripple joins alliance to work on blockchain recovery
XRP trades around $0.5174 early on Friday, wiping out gains from earlier in the week, as Ripple announced it has joined an alliance to support digital asset recovery alongside Hedera and the Algorand Foundation.
Week ahead – US inflation numbers to shake Fed rate cut bets
Fed rate-cut speculators rest hopes on US inflation data. After dovish BoE, pound traders turn to UK job numbers. Will a strong labor market convince the RBA to hike? More Chinese data on tap amid signs of slow Q2 start.