Forex

The EUR/USD is trading with a neutral bias on Thursday, but retains a bearish outlook, especially after the Fed endorses an ultra-hawkish monetary policy tightening roadmap.

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/JPY-bearish contrarian trading bias.

The Japanese Yen is surging as the Ministry of Finance intervenes to support the currency.

The US Dollar has had a big week so far and it isn’t over yet as price action is still absorbing the plethora of data that’s come into the picture.

Cable went into panic mode from Friday into last night; worst may be in and sets up potential top-side trade.

U.S. continue to trend lower and the trend needs to accelerate into a capitulation at some point for a bottom to be put in.

The Bank of England unpredictably raised rates by 50bps to 2.25% after an aggressive Fed yesterday.

Gold remains close to 29-month lows as the prospect of more interest rate rises leaves non-yielding assets vulnerable.

The Japanese Yen is whipping around in early trade against the US dollar as talk permeates the market of official currency intervention.

The Swiss National Bank (SNB) raised interest rates by more than expected today and reiterated that rates could be raised further to ensure price stability.