The United States Federal Reserve announced on Wednesday a interest rate hike of 25 basis pointsyes, as expected. The rates have been raised to 0.50% from 0.25% previously, reaching its highest level since early March 2020. Federal Reserve Statement Indicators of economic activity and employment have continued to strengthen. Job creation has been strong in […]
Tag: Fed
USD/CAD dips and breaks below 1.2750 ahead of FOMC decision
The Loonie advanced 0.30% against the dollar amid increased risk appetite. Discussions between Russia and Ukraine would continue, although the fighting continues. Canadian inflation is approaching the 6% threshold, while US retail sales are moderating. The USD/CAD falls for the second day in a row in the week, ahead of the FOMC monetary policy decision […]
USD/JPY just below 118.50 before FOMC
USD/JPY continues to move higher and, just below 118.50, is on track for an eighth straight day in the green. The pair is targeting a break above late 2016/early 2017 highs at 118.60. Markets are willing to take a risk ahead of the Fed’s announcement amid signs of progress in Russia-Ukraine peace talks. The upward […]
US dollar index remains under pressure near 98.50 ahead of FOMC
DXY extends weekly decline to 98.50/45 zone. US retail sales expanded 0.3% mom in February. The Fed is forecast to hike rates by 25 bps later on Wednesday. The US dollar index (DXY), which measures the dollar against a set of its main rivals, remains bearish at 98.50 on Wednesday. US dollar index offered before […]
USD/JPY remains confined to a range near multi-year highs, pending FOMC
USD/JPY was seen to consolidate its recent strong gains to the highest level since January 2017. Strong intraday USD selling capped the uptrend amid extreme overbought conditions. Risk appetite undermined the JPY as a safe haven and provided support amid elevated US bond yields. The market’s focus remains glued to the outcome of a two-day […]
GBP/USD hovering below 1.3100 focus remains on FOMC/BoE
GBP/USD rises, hovering just below 1.3100 amid better risk appetite ahead of the FOMC and BoE meetings. Russo-Ukrainian rhetoric has been a bit more constructive, lifting sentiment, and US retail sales data was weak. While caution ahead of the Fed policy announcement is likely to prevent the pair from pushing above 1.3100 and open the […]
AUD/USD maintains strong gains near 0.7250, moves little after US retail sales
AUD/USD gained strong traction on Wednesday and recovered further from a two-week low. Risk appetite undermined the safe-haven USD and benefited the perceived riskier Aussie. Softer US retail sales data failed to impress USD bulls or provide any impetus to the pair. The market’s focus remains glued to the outcome of the two-day FOMC monetary […]
USD/JPY consolidates in range near multi-year highs before FOMC
USD/JPY is trading in a tight range near a multi-year high during the European session. The appearance of some selling around the USD forces the bulls in the pair to take a breather after the strong rise. A combination of factors continue to lend some support as the focus remains on the Fed. The pair […]
AUD/USD extends recovery from two-week lows and rises above 0.7230
AUD/USD advanced for the second day in a row on Wednesday amid modest US dollar weakness. Risk appetite weighs on the safe haven USD and benefits the higher perceived risk AUD. High US bond yields should cap losses around the USD and cap the pair ahead of the FOMC decision. The pair AUD/USD extends its […]
Upbeat sentiment ahead of major Fed rate decision
This is what you need to know to trade today Wednesday March 16: Risk-appetite money flows dominate financial markets early on Wednesday as investors hope for a diplomatic solution to the crisis between Russia and Ukraine, and the US dollar remains on the defensive. Retail sales and import price index data will be released during […]
