At the ECB Council, Market Sentiment Shifts Towards Interest Rate Hike Pause, Leading to Euro Selling – Confirmation Expected in Today’s ECB President’s Speech
This week brings a lot of market-moving events, including the US FOMC, the Bank of England, Switzerland and Turkey, China’s policy rate, and the Bank of Japan announcing their policy interest rates among major countries. However, until Wednesday’s US FOMC meeting, there’s a lack of major events. Traders are beginning the week with a wait-and-see […]
Euro Weakens as Market Perceives ECB Rate Hike Pause; Confirmation Expected in Today’s ECB President Speech
During yesterday’s ECB Governing Council meeting, the market was divided between expectations of a rate hike and no change in interest rates. In the end, the ECB chose to implement its tenth consecutive rate hike. However, the ECB did not provide indications of further rate hikes, leaving an impression in the market that interest rates […]
Euro Weakens as ECB Raises Key Interest Rates
The ECB has increased its key interest rates by 25 basis points. Initially, there was a surge in the Euro as the market had been evenly split between expectations of a rate hike and no change. However, the Euro’s strength was short-lived, and it quickly turned into a selling spree. In the ECB staff’s outlook, […]
The ECB Governing Council: Rate Hike or Status Quo, with a Watchful Eye on US Retail Sales and PPI
The international markets ahead are brimming with significant events. Of particular importance to the Euro exchange rate is the ECB Governing Council’s announcement regarding monetary policy. Currently, the expectations for a status quo decision and a 25-basis-point rate hike are quite evenly balanced. Economist predictions seem to slightly favor the status quo camp. On the […]
Dollar Buying, Tokyo Market Led by AUD Selling, Euro Focus in European Session with Numerous Speeches
The Tokyo market is generally characterized by dollar buying pressure. With the rise in US bond yields, USD/JPY has climbed from around 146.40 to near 147 yen. Another significant move was observed in AUD/USD, which dropped from around 0.6460 to near 0.6380. Factors such as the deterioration of China’s Caixin PMI and the Reserve Bank […]
Focus on the ECB Governing Council today, what is the timing between the FOMC and the Bank of Japan?
Today’s focus is on the ECB Governing Council meeting, and the market is closely watching its outcome. Regarding the policy interest rate, there is a consensus in the market for a 25 basis point rate hike. However, there is a slightly toned-down outlook for a rate hike in September. Even the hawkish members have […]
US FOMC, ECB, Bank of Japan Monetary Policy Announcement next week
This week has seen a strengthening in USD, but the reasons behind its rally are questionable. There seems to be a correction in the market after a continuous 6-day USD decline until last week. Various factors are influencing the market sentiment. For USDJPY, BOJ Governor Kuroda’s reaffirmation of the easing stance cooled down the YCC […]
Total +40,522 USD/week. US Dollar will make a big move in a week! Focus on daily economic indicators. Forex Top Team FX Weekly Forecast from July 3, 2023
Total trading from June 26 to July 1 resulted in a gain of +40,522 USD. The week started with a move towards a stronger yen after Finance Minister Kanda made statements suggesting a curb on yen depreciation. This led to selling of the USD/JPY pair, but contrary to expectations, the trend pushed it into the […]
Many messages from major central banks today, an opportunity for either a pause or acceleration in the yen’s depreciation.
Today, the focus is on the final day of the ECB Forum. Market attention is on the panel discussion featuring Bank of Japan Governor Kuroda, Fed Chair Powell, Bank of England Governor Bailey, and ECB President Lagarde, which starts at 10:30 PM Japan time. Prior to that, ECB Vice President De Guindos, BOE Chief Economist […]
JPY on the brink of a widening US-Japan interest rate gap, but what about the ECB Council meeting?
The Japanese yen has weakened in the Tokyo market following the passage of yesterday’s US Federal Open Market Committee (FOMC) meeting. USD/JPY has reached the 141 yen level, which raises concerns about the government’s warning against excessive yen weakness. The FOMC meeting resulted in no change in policy interest rates as expected, but the indication […]