Some of the orders I place go
Federal Reserve Bank of Cleveland President Loretta Mester told the Financial Times that she didn’t think that the Federal Reserve was near a pause in interest rate rises. Mester noted that she would need to see several more good inflation reports and more https://trans4mind.com/counterpoint/index-finance-business/dotbig-reviews-based-on-comments.html signs of moderation. European Central Bank President Christine Lagarde testified before the Committee on Economic and Monetary Affairs of the European Parliament. She reiterated that interest rates will remain their main tool for fighting inflation.
- Even so, concerns surrounding easy rate hikes from the US Federal Reserve allowed the pair buyers to remain hopeful ahead of crucial data and events.
- Will be closely monitoring higher frequency data such as spending data, and the next CPI report to determine the move in February.
- Currently trading just above the $1,760 level, the XAU/USD is now looking to build on last week’s goodish bounce from the $1,725 region amid the emergence of fresh US Dollar selling.
- While the core HICP data that excludes oil and food prices is seen unchanged at 5%.
- Also negative for the AUD/USD pair could be the downbeat China data publishing this weekend.
- Reserve Bank of New Zealand Karen Silk, Assistant Governor, expressed her view on the economic, inflation and monetary policy outlook in her sp…
The Riksbank meets on Thursday and the decision to raise by 75bps or 100bps could have implications for the next direction in EUR/SEK. As if 75bp was not enough, the RBNZ came out swinging by increasing their terminal rate much higher than we anticipated. Some of the orders I place go against my natural inclination in a market.
USD/JPY rises in subdued trading
On the United Kingdom front, investors are shifting their focus towards the first major foreign policy speech from UK Prime Minister Rishi Sunak, which he plans to deliver on Monday in London’s financial district. In the last week, the UK’s key activity numbers marked downbeat performance for November and keep the Bank of England struggling for clear directions even as hawks expect more rate hikes. Reserve Bank of New Zealand Karen Silk, Assistant Governor, expressed her view on the economic, inflation and monetary policy outlook in her sp… Iraq teases more output ahead of OPEC+ meeting, EU-G7 discusses oil price cap on Russian energy exports. WTI crude oil drops to the fresh low of 2022 as bears poked $73.90 amid a broad risk-aversion wave, as well as fears of increasing supply and less dem…
According to the estimates, the US economy has added 200k fresh jobs in the labor market, lower than the prior release of 239k. Chatters over a slowdown in the current rate hike pace by the Federal Reserve have gone rooftop. Whatever the decision the Federal Reserve will take in the December monetary policy on interest https://www.forex.com/ rates, the risk-sensitive assets have enjoyed a ball. Intensifying protests by individuals against anti-Covid lockdown measures by the Chinese authorities to curtail infections have dampened the risk-appetite theme. This has led to a sheer decline in the risk-sensitive currencies but has supported the US Dollar.
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Back to the euro area, the increasing speculation of a potential recession in the bloc emerges as an important domestic headwind facing the euro in the short-term horizon. The EUR/GBP is rising sharply on Monday, boosted by a stronger Euro across the board. On the Fed speaking side, ahead of the blackout Forex period, for the December meeting, Williams, Bullard, Cook, Bowman, Logan, Barr, Evans, and Powell will speak during the week. Of late, the Cleveland Federal Reserve President Loretta Mester stated that she does not believe that the Fed is close to a pause on tightening, reiterating its hawkish stance.
Against that crude oil prices could revisit the key $70.00 mark per barrel sooner rather than later. Even Forex so, the broad risk-aversion wave, due to the Covid fears, seems to keep the pair buyers hopeful.