Expected SARB Hike Comes to Fruition at 4%, USD/ZAR Subdued
The MPC has unsurprisingly decided to increase the repo rate by 25bps from 3.75% to 4%. USD/ZAR reaction muted after markets priced in rate hike.
GDP Growth Surpassed Expectations Despite Omicron
GDP's annual growth rate is 6.9% for Q4 of 2021 despite the surge of Omicron, beating median 5.5% estimates.
DAX Technical Outlook Hinges on Big-picture Support, CAC Less So
The DAX is coming off a test of a major support and will need to hold if a topping scenario isn't to be validated; the CAC is holding up better.
EUR/USD Hit After Fed Hawkish Confirmation
EUR/USD continued its earlier decline after Fed hawkish confirmation yesterday. The pair now highlights some major lows around 1.10 and possibly lower.
Post-FOMC Market Latest: S&P 500, FTSE 100 Rebound, USD Remains Bid, Gold Slides
Financial markets are pulling back most of the post-FOMC sell-off with risk markets back in favor. The US dollar remains bid ahead of today's US Q4 GDP release.
EUR/JPY IG Client Sentiment: Our data shows traders are now net-long EUR/JPY for the first time since Dec 22, 2021 when EUR/JPY traded near 129.26.
Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger EUR/JPY-bearish contrarian trading bias.
US Dollar Price Action: Hawkish Powell and Potential Month-End USD Buying
Uber Hawkish Powell and Watch Out For Possible USD Month-End Rebalancing Flows
British Pound Falls, US Dollar Soars on Fed. Will Boris Johnson Issues Drag GBP/USD?
The British Pound has slid lower again today as the Fed delivered on expectations, lifting the US Dollar. Will GBP/USD continue lower?
Crude Oil Prices Near 7-Year High on Ukraine Standoff, Falling Cushing Stockpiles
WTI crude oil prices are hovering at 7-year highs on Thursday as investors mull rising Russia-Ukraine tensions amid a tight market. The EIA reported a decent drop in Cushing inventories,…
Gold Price Crumbles After Hawkish Fed Boosted US Dollar. Where to for XAU/USD?
Gold fell back into a trend channel after the Federal Reserve signalled ceasing asset purchases and hiking rates at their March meeting. Will XAU/USD go lower?