You need to be logged in to view this content.
Summary
With the year about to close and a US tightening later in the week seen as a certainty, dollar bulls are hoping for a gift or two from Aunt Yellen. That the Fed is going to begin normalizing is soon is a given, that we will have a Fed Funds hike on Wednesday is highly likely. But will the dollar really rally further should not be taken as a given. MacroEconomics 101 tells us that with a tightening we get to see a stronger currency. But when a decision has been widely read murphys law should be considered by traders. Any further movement from the greenback will likely now depend more on the pace of tightening that will be suggested and not the act itself. Join Mark de la Paz and explore the options that traders have for that last big bet.Latest Live Videos
Editors’ Picks
EUR/USD retreats toward 1.0850 on modest USD recovery
EUR/USD stays under modest bearish pressure and trades in negative territory at around 1.0850 after closing modestly lower on Thursday. In the absence of macroeconomic data releases, investors will continue to pay close attention to comments from Federal Reserve officials.
GBP/USD holds above 1.2650 following earlier decline
GBP/USD edges higher after falling to a daily low below 1.2650 in the European session on Friday. The US Dollar holds its ground following the selloff seen after April inflation data and makes it difficult for the pair to extend its rebound. Fed policymakers are scheduled to speak later in the day.
Gold climbs to multi-week highs above $2,400
Gold gathered bullish momentum and touched its highest level in nearly a month above $2,400. Although the benchmark 10-year US yield holds steady at around 4.4%, the cautious market stance supports XAU/USD heading into the weekend.
Chainlink social dominance hits six-month peak as LINK extends gains
-637336005550289133_XtraSmall.jpg)
Chainlink (LINK) social dominance increased sharply on Friday, exceeding levels seen in the past six months, along with the token’s price rally that started on Wednesday.
Week ahead: Flash PMIs, UK and Japan CPIs in focus – RBNZ to hold rates
After cool US CPI, attention shifts to UK and Japanese inflation. Flash PMIs will be watched too amid signs of a rebound in Europe. Fed to stay in the spotlight as plethora of speakers, minutes on tap.