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Cable traders will remember today for a LONG time. The UK government’s announcement of a “mini” budget cutting taxes and capping energy bills has spooked international investors, leading to a surge in UK gilt yields and driving GBP/USD down to its lowest levels since 1985. While we’re still a long way from GBP/USD parity, today’s […]
Week Ahead: Central Bank Fallout, More Pain for the Pound, and Inflation Data Skip to content:
Weekly Economic & Financial Commentary. Shot Across the Bow, Japan Intervenes Against Surging Dollar Skip to content:
GBP/USD. Sterling Falls to New Multi-year Low after Disappointing Data Skip to content:
It was certainly a day to remember for the Japanese yen on Thursday. USD/JPY traded in a stunning 550-point range, as the yen fell sharply before reversing directions and closing the day up over 1 percent. Things have calmed down today, as USD/JPY is trading quietly at 142.37. Japan’s currency intervention sends yen flying The […]
Key Highlights: USD/JPY started a downside correction from the 145.90 high. It broke a major bullish trend line at 143.75 on the 4-hour chart. Gold price is still consolidating below the $1,700 resistance zone. The US Manufacturing PMI could decline from 51.5 to 51.1 in Sep 2022 (Preliminary). USD/JPY Technical Analysis: The US Dollar remained […]
After a week in which a dozen central banks around the world either tightened policy or resorted to currency intervention, the focus is now on the economy. Just how much of the move was priced in, and how much will economic growth be impacted going forward. So far, tightening has contributed to a stronger dollar, […]
US Dollar Index Reaches Highest Level Since June 2002 ahead of the Fed Skip to content:
CHFJPY lost almost 2.0% within two hours during Thursday’s European trading hours, plunging to a two-week low of 143.92 before edging slightly higher. The technical oscillators followed the price sharply lower, with the RSI sliding below its 50 neutral threshold and the MACD easing below its red signal line. The bullish market structure, however, remained […]
FOMC Hikes Policy Rate by 75 Basis Points, Signals Many More to Come Skip to content:
