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Day: June 13, 2018
June 132018
EUR/USD Crashes Following FOMC Hike, Surges Afterwards
EUR/USD tumbled today after the Federal Open Market Committee hiked its main interest rate and updated its economic projections, predicting four hikes in total this year. Yet, surprisingly, the currency pair has recovered extremely quickly and is now trading far above the opening level. PPI rose 0.5% in May, seasonally adjusted, beating the average forecast of 0.3% and the previous month’s increase of 0.1%. (Event A on the chart.) US […]
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June 132018
US Dollar Gains as FOMC Hikes Rates, Outlines Plans for Two More in 2018
Talking Points: – FOMC raises benchmark interest rate to range of 1.75-2.00%, as was expected by markets. – Fed funds price in an 81% chance of a 25-bps rate hike in September, and odds for December increased from 51% to 57% as Fed Chair Powell’s press conference got under way. – US Dollar produces bullush […]
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June 132018
US Dollar Rips and Dips as the Fed Hikes, Pledges Two More in 2018
Talking Points: – The Federal Reserve hiked rates at today’s rate decision for the second time in 2018, and the seventh such hike since this rising rate cycle began in December, 2015. The Fed also forecasted an additional two rate hikes in 2018, and while this drove an initial move of USD-strength, prices quickly pulled […]
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June 132018
Sterling Pound Trades Lower on UK Inflation Data, Later Recovers
The Sterling pound today traded lower against the US dollar following the release of the UK Consumer Price Index report for May in the early European session. The GBP/USD currency pair later rallied higher from the mid-European session into the North American session as the US dollar weakened against the pound. The GBP/USD currency pair initially declined from an opening high of 1.3375 to a low of 1.3307 before rallying to a new high of 1.3383 in the American session. […]
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June 132018
USDCAD Bulls Look to Revisit 2018 Highs on Hawkish Fed
CAD Analysis and Talking Points Hawkish Fed Could See USDCAD at 2018 Highs Widening US-Canadian Bond Spreads Calls for Softer CAD See our Q2 CAD forecast to learn what will drive the currency through the quarter. Is 4 the Magic Number? Today will see the release of the FOMC meeting where it is near enough […]
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June 132018
Bitcoin, Ethereum, Ripple Charts in a Bear Grip | Webinar
Cryptocurrency News and Talking Points – $70 billion wiped off the market capitalization. – Lack of any significant rebound points to lower prices. IG Client Sentimentshows how clients are currently positioned in a wide range of cryptocurrencies and how positioning has changed over the last week – and positioning looks highly stretched. Bitcoin (BTC), Ethereum […]
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June 132018
US AM Digest: GBP Remains Pressured as Inflation Sticks at 1yr Low, USD Muted Ahead of FOMC
US Market Snapshot via IG: DJIA 0.05%, Nasdaq 100 0.1%, S&P 500 0.05% Major Headlines UK Inflation remains at 1yr low of 2.4% President Trump states oil prices are too high Markets await FOMC decision GBP: Inflation in the UK remained at 2.4% in May, below expectations of 2.5%. As such, this has led to […]
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June 132018
EUR/USD Crashes Following FOMC Hike, Surges Afterwards
EUR/USD tumbled today after the Federal Open Market Committee hiked its main interest rate and updated its economic projections, predicting four hikes in total this year. Yet, surprisingly, the currency pair has recovered extremely quickly and is now trading far above the opening level. PPI rose 0.5% in May, seasonally adjusted, beating the average forecast of 0.3% and the previous month’s increase of 0.1%. (Event A on the chart.) US […]
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June 132018
Swiss Franc Firm Despite Disappointing PPI
The Swiss franc rose versus some of its most-traded counterparts, though not against the rather strong euro, even as the growth of the Producer Price Index trailed market expectations. The Federal Statistical Office reported that the PPI rose 0.2% in May from the previous month. That is compared to the predicted increase of 0.3% and the 0.4% gain registered in April. The report cited the following reason for the increase of the index: The rise is due in particular to higher […]
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June 132018
Australian Dollar Gains As Consumer Sentiment Improves
The Australian dollar rose against most of its major rivals, though not against the euro, after Australia’s consumer sentiment improved. The gains were limited, though, as the central bank’s head confirmed that an interest rate hike is unlikely in the near future. The Westpac Melbourne Institute Index of Consumer Sentiment rose 0.3% in June from May. The increase followed the 0.6% drop in the previous month. The report commented on the result: The consumer mood […]
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