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AUD/USD Price Analysis: Uptrend probably resuming
AUD/USD is probably resuming its short-term uptrend after completing a correction. A break above 0.6624 would help confirm the bullish case. AUD/USD may have formed a Measured Move with a final target at around 0.6690. AUD/USD is trading in the 0.6590s on Thursday after finding support from the 50 S
Bank of England closing in on rate cuts
Summary The Bank of England (BoE) held its policy rate at 5.25% at today's monetary policy announcement, but offered a dovish outlook that suggests rate cuts are now approaching. The BoE said restrictive monetary policy is weighing on activity in the real economy, is leading to a looser labor market
BoE gives FTSE 100 a boost, but there is still a long way to go
The Bank of England’s latest Monetary Policy Report gave a much-needed positive boost to the UK’s economic outlook. Growth was revised higher, while inflation was revised lower. Although the BOE did not confirm that a rate cut would come in June, the Governor Andrew Bailey sounded more comfortable w
USD/JPY grinds higher on US exceptionalism, weak Japanese data
USD/JPY pushes relentlessly higher as market forces overcome intervention attempts. The US Dollar is strengthening across the board as interest rates in the US diverge from the global trend. Weak Japanese wage data puts a dent in BoJ plan to hike interest rates to prop up the Yen. USD/JPY is trading
BoE has spoken, attention will turn to next week’s CPI and the ECB
Outlook We get the usual jobless claims today, ho hum. Now that the Bank of England has spoken, attention will turn to next week’s CPI (May 15th) and the ECB. The FT has commented several times about how inflation in the US differs from inflation in the eurozone. The IMF takes the stance “… virtuall
Bank of England inches one step closer to a summer rate cut
The Bank of England is undoubtedly turning more optimistic, but it’s keeping its options open amid some uncertainty surrounding the near-term inflation numbers. We still narrowly expect the first rate cut in August. The Bank of England has kept rates on hold, but that's soon to change The Bank of En
BoE’s Goldilocks monetary policy report
The Bank of England kept rates on hold on Thursday, however, the interesting part of this meeting was the release of the second Monetary Policy Report of the year. As expected, growth was revised higher, while inflation was revised sharply lower for the UK. The BOE no longer sees UK inflation with a
Japanese Yen lower after BoJ Minutes
The Japanese yen has posted a three-day slide and is in negative territory on Thursday. USD/JPY has risen 0.26% on the day and is trading at 155.93 at the time of writing. Is the BoJ turning hawkish? The Bank of Japan released its Summary of Opinions from its April 26th meeting earlier today. The me
The Dollar inches higher again yesterday and overnight
The Dollar inches higher again yesterday and overnight. Replenishing the Oil Reserves? Good Day... And a Tub Thumpin' Thursday to one and all! Well, my beloved Cardinals didn't lose yesterday... They didn't play! As the game was rained out, as dangerous storms ripped through St. Louis yesterday. I w
Forex trading long on AUD/USD, Gold in symmetrical pennant [Video]
Last time we warned you about the RBA Interest Rate Decision. There was no change but price action moved reflecting a temporarily stronger AUD. Why? AUD went stronger based on higher-than-expected inflation figures. So, from the technical side, we can see opportunities. On EURAUD, for example, price
Silver Price Analysis: Silver is now probably in an uptrend
Silver price has probably reversed its short-term downtrend and begun a new uptrend. It has broken above the May 7 highs – a key sign the short-term trend has reversed. The possibility now exists for the precious metal to rise back up towards the $30.00 mark. Silver (XAG/USD) price might well have c
EUR/USD weakens on firm ECB rate-cut bets, firm US Dollar
EUR/USD falls sharply to 1.0730 as the US Dollar recovers on the Fed’s hawkish interest-rate guidance. Fed’s Collins joins Kashkari to support keeping interest rates steady for a longer period. The ECB is expected to deliver three rate cuts this year. EUR/USD extends its losing spell for the third t
USD/CAD Price Analysis: Stays on sidelines above 1.3700
USD/CAD grinds between firm US Dollar and recovery in the Oil price. Oil recovers on sharp drawdown in US oil stockpiles. The Canadian Dollar will be guided by the Employment data for April. The USD/CAD pair consolidates in a tight range above the round-level support of 1.3700 in Thursday’s European
Like there’s no tomorrow: Unpacking consumer credit
Summary The recent run-up in revolving debt combined with the much higher financing costs raises doubts about the ability of credit to continue to make up for the shortfall between modest real income growth and aspirational spending. Is there a way to feel better about the consumer credit situation?
Pull-up Update
