Fed: To Taper or Not to Taper?
di SwissquoteThe IMF’s annual report for Switzerland sent the franc to its four-month lows against the Euro. Several key topics gathered attention.
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Traders’ Indecisive Ahead of the Fed
The Nikkei soared again after the BOJ meeting however elsewhere other indices were rather more reserved in anticipation of an update on the state of play by Bernanke.
Central banks in focus as markets await Bernanke
Once again we saw US stocks make new record highs after fairly dovish comments from Fed Presidents Bullard and Dudley played down the prospects of any form of tapering of asset purchases in the near term.
USD/JPY Erases Losses as Amari Retracts Yen Comments
The US Dollar is the top performer once again as Asian traders happily lapped up the world’s reserve currency following the Monday bank holiday. By Christopher Vecchio, Currency Analyst
Price & Time: The Unfolding Cycle in the Euro
GBP/USD broke below the 78.6% retracement of the April to May advance to trade to its lowest level in almost two months. By Kristian Kerr, Sr. Currency Strategist
Sterling Weaker on April CPI, Euro on HoldThe FX markets remain on hold ahead of FOMC Chair Bernanke’s testimony due tomorrow.
Europe set to open lower ahead of UK inflation dataGBPUSD – we got a similarly strong rebound on the cable yesterday though the daily candle wasn’t anywhere near as conclusive.
USD and Stock Continue to RallyCurrently the recent economic data (including stronger than expected GDP) from the US has been supportive of the Fed easing policy.
US Data Continues To Tick the Right BoxesWith US equities marching to new record highs, traders across Asian markets today did not need a second invitation to jump aboard the buying bandwagon.
FTSE set to open near to its highest levels since January 2000EURGBP – the trend line resistance at 0.8500 from the March highs at 0.8795 as well as the 200 week MA continues to cap the euro.
Greenback Still in DemandReleased this morning, Euro gave little reaction to 7% drop in construction output over the last year, while the Turkey’s upgrade to investment grade by Moody’s triggered an impressive TRY unwind to our surprise.
AUD Still Can’t Take a TrickThe Australian Dollar seemingly can’t take a trick at the moment with the latest fall today being technically driven after key stop levels were taken out.
Stimulus concerns set to put Europe on the back footGBPUSD – yesterday’s brief break below the 1.5200 level keeps the pressure on for a move towards the April lows at 1.5030.
Euro: EZ Posts Record Trade Surplus- ECB Can Only Buy TimeThe Euro bounced back from an overnight low of 1.2845 as the monetary union posted a record trade surplus of EUR 18.7B in March.
USD in the SpotlightThe trader will focus on the April CPI figures and the US jobless claims scheduled in the afternoon.
Europe set to open lower despite encouraging Japanese GDPGBPUSD – yesterday’s brief break below the 1.5200 level keeps the pressure on for a move towards the April lows at 1.5030.
Euro Hit by Poor Growth, Sterling MutedThe European markets kick-started the day, but to the downside on the unsatisfactory growth figures printed this morning.
USD and US Equities Striding in the Same DirectionThe Australian Dollar continues to languish below parity amid the recent trend of US Dollar strength and commodity price weakness.
European GDP set to contract furtherSeemingly able to shake off the EU malaise in its first quarter numbers the UK economy was able to grow 0.3% at the start of the year.
Markets Focus on USDReleased this morning, the better-than-expected industrial production data gathered limited enthusiasm in Europe.