The US dollar is slightly weaker across the board today with more significant declines against the Aussie and the Kiwi. The dip comes after a solid rally going into the New York close. the greenback was supported by a change in perceptions of where the federal funds peak might be. Overnight saw four Fed speakers...Read More

The Australian Dollar bumped high after the RBA raised its cash rate target to 3.35% from 3.10%, a total of 325 basis points has been added since the first hike in May 2022. It has since retraced most of the gains. It seems that the re-acceleration of CPI has caused some concern at the top...Read More

The Australian Dollar collapsed on Friday after blistering US non-farm payrolls (NFP) data lifted the US Dollar. The statistics revealed a US labour force that is running hot, and the market was forced to recalibrate expectations for the peak in the Federal Reserve’s rate hike cycle. 517k jobs were added in January according to the...Read More

As we look ahead to a new trading week, what is the background mood of the market? An argument can be made by the bulls who point to the general progress made by benchmarks like the Nasdaq 100 over the entirety of this past week – a general push to four-month highs – with justification...Read More

Crude oil has had a torrid week so far with wider market movements overshadowing the optimism of China re-joining the global economy. The Federal Reserve, the European Central Bank (ECB) and the Bank of England (BoE) all tightened monetary policy in the last few days. While stocks have broadly rallied, black gold has struggled to...Read More

The US Dollar is under the pump today even though the Federal Open Market Committee (FOMC) hiked the target rate by 25 basis points (bp) as widely anticipated. While the move is unequivocally a tightening of policy, it was in the post-meeting press conference that the message appeared to get somewhat jumbled when Fed Chair...Read More

Gold had a look lower at the US$ 1,900 handle in the US session but quickly recovered back above US$ 1,925. At the same time, the DXY Index, a benchmark measure of the US Dollar, moved to higher ground before collapsing into the New York close. Wall Street had a stellar session on hopes that...Read More

USD/JPY SHORT-TERM TECHNICAL FORECAST – NEUTRAL The Japanese yen’s rally against the US dollar appears to have stalled in recent days as the market looks for further cues from the upcoming US Federal Reserve Open Market Committee meeting. While the market widely expects the Fed to hike rates by 25 basis points to 4.5%-4.75% on...Read More

Crude oil has steadied to start the week as China returns from the Lunar New Year holidays and ahead of the Federal Open Market Committee (FOMC) meeting on Wednesday. Both the WTI and Brent futures contracts took a beating on Friday as fears of a recession in the US seem to have undermined confidence that...Read More

The British pound prepares itself for a stacked week ahead that include both Bank of England (BoE) and Federal Reserve interest rate decisions respectively (see economic calendar below). The BoE has hinted at yet another 50bps hike which is confirmed by money market pricing as seen in the table below. While this is largely priced...Read More