Matt Simpson, CFTe, MSTA
CityIndex
A snapshot view of last week's money flow and technical notes for the week ahead.
KEY EVENTS THIS WEEK:
AUD: Job Ads; Business OCnfidence; Home Loans; Consumer Sentiment; Employment
CAD: Building Permits; Housing Starts;
CHF: CPI; Retail Sales
CNY: Trade Balance; CPI; Industrial Production;
EUR: ECB Monthly bulletin; Trade Balance; Industrial Production
GBP: BoE Carney Speaks; Manufacturing Production; Inflation Hearings
JPY: BOJ Kuroda speaks; Core Machinery Orders;
NZD: Cash Rate; RBNZ press conference;
USD: Job Openings; FOMC Tarullo speaks; Employment; Core/Retail Sales; COnsumer Sentiment;
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Editors’ Picks
AUD/USD pressures as Fed officials hold firm on rate policy
The Australian Dollar is on the defensive against the US Dollar, as Friday’s Asian session commences. On Thursday, the antipodean clocked losses of 0.21% against its counterpart, driven by Fed officials emphasizing they’re in no rush to ease policy. The AUD/USD trades around 0.6419.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday during the early Asian session. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold price edges higher on risk-off mood hawkish Fed signals
Gold prices advanced late in the North American session on Thursday, underpinned by heightened geopolitical risks involving Iran and Israel. Federal Reserve officials delivered hawkish messages, triggering a jump in US Treasury yields, which boosted the Greenback.
Runes likely to have massive support after BRC-20 and Ordinals frenzy
With all eyes peeled on the halving, Bitcoin is the center of attention in the market. The pioneer cryptocurrency has had three narratives this year already, starting with the spot BTC exchange-traded funds, the recent all-time high of $73,777, and now the halving.
Billowing clouds of apprehension
Thursday marked the fifth consecutive session of decline for US stocks as optimism regarding multiple interest rate cuts by the Federal Reserve waned. The downturn in sentiment can be attributed to robust economic data releases, prompting traders to adjust their expectations for multiple rate cuts this year.