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Articles
FX Analysis – AUDUSD and Gold get a boost, JPY spikes on possible intervention.
AUDUSD AUD saw gains to come within a whisker of the key 0.64 level, after hawkish leaning commentary from RBA Assistant Governor Kohler, who noted the decline in inflation is more gradual than previously thought. The Aussie also helped by a weaker USD and improved risk sentiment. The 0.64 level will be key in the near term as the mid-point of A...
November 14, 2023Read More >Charts to watch in the week ahead – AUDUSD, USDOLLAR, GBPUSD
Last week’s action in the FX markets was shaped by a pushback by the Fed chair Jerome Powell and assorted other Fed members on markets pricing in a less hawkish Fed going forward. What was seen as a dovish FOMC and a big miss in NFP the week before saw traders piling back into risk assets with traders hoping for a less aggressive Fed, it seemed p...
November 13, 2023Read More >FX Analysis – USDJPY, and GOLD reaction after a surge in the Dollar
USD rallied strongly in Thursday’s session after a quiet start following dismal demand for US 30 year-treasuries at a scheduled bond auction, seeing yields surge and taking the USD with them. The push higher was later given an extra boost by Fed Chair Powell’s hawkish statements during a panel organized by the IMF. In a scheduled panel chat ...
November 10, 2023Read More >Global market recap: Asian-Pacific futures edge up after Wall Street’s decline.
The Asian-Pacific financial markets are bracing for a potentially modest opening on Friday, undeterred by the negative performance witnessed in US indices the previous night. This downturn was spurred by remarks from Federal Reserve Chief Jerome Powell, who suggested that existing interest rates might not be restrictive enough. Powell's comments tr...
November 10, 2023Read More >Li Auto beats Q3 expectations
Li Auto Inc. (NASDAQ: LI) released Q3 results before the market open in the US on Thursday. Let’s take a look at how the Chinese company performed. Company overview Founded: 2015 Headquarters: Beijing, China Number of employees: 19,396 (2022) Industry: Automotive Key people: Li Xiang (Chairman and CEO), Yanan Shen (President),...
November 10, 2023Read More >Disney results announced – the stock is up in the after-hours
The Walt Disney Company (NYSE: DIS) reported its fourth quarter and full fiscal year 2023 results ending September 30, 2023, after the market close in the US on Wednesday. Company overview Founded: October 16, 1923 Headquarters: Team Disney Building, Walt Disney Studios, Burbank, California, United States Number of employees: 220,000 ...
November 9, 2023Read More >XAUUSD Analysis – Further Downside in Gold possible as Risk Premium unwinds
Golds safe haven status was reaffirmed as markets opened on the 9th of October to the news of conflict in the Middle East, this saw XAUUSD go on an impressive run, rallying almost 10%, breaking the psychological 2000 USD an ounce level and hitting 6-month highs. This week we have seen some of that risk premium unwind as reduced haven flows and p...
November 9, 2023Read More >FX Analysis – AUDUSD stutters after RBA and weak Chinese data, USDJPY back above 150 testing the BoJ
AUDUSD dropped in Tuesday’s session with AUD being weighed on post-RBA decision, as the less hawkish RBA guidance outweighed the widely anticipated 25bps hike to 4.35%. Though the market reaction was a little curious given the small changes to the accompanying statement hardly made it dovish. The RBA changed its forward guidance to say "whether f...
November 8, 2023Read More >Uber results have arrived
Uber Technologies Inc. (NYSE: UBER) released its latest earnings results before the market open in the US on Tuesday. Let’s see how it performed in Q3. Company overview Founded: March 2009 Headquarters: San Francisco, California, United States Number of employees: 32,800 (2022) Industry: Transportation, food delivery Key peopl...
November 8, 2023Read More >Apple’s after-hours earnings blip dents otherwise positive sentiment.
US markets bounded higher on “do no harm” data, with broad based gains across all major indices and continued positive earnings, with November starting off particularly well and hopes building that we will break a three-month losing streak for US equities. It has been a fraught week for investor nerves, with a plethora of potentially signif...
November 3, 2023Read More >Fed Pauses, Markets Rally: But What’s Next?
As expected, there was no change in the U.S. interest rate, with the decision to keep rates at 5.5% having been previously telegraphed and already priced in. As is always the case, markets dissected the statement and the subsequent press conference by Fed Chairman Jerome Powell to look for clues about what future Fed direction may or may not be. ...
November 2, 2023Read More >Markets Watch the Fed Decision Tonight – But Will We Stray from the Current Path?
After the BOJ's action yesterday, the ramp-up of earnings season, treasury auctions, and a flurry of data over the next few days—including U.S. jobs data—market attention will briefly focus on the U.S. interest rate decision this evening. Chairman Jerome Powell and the Fed members will conclude their two-day meeting today and release the la...
November 1, 2023Read More >Fed Interest Rate Decision – How might this move the markets?
It’s that time again, the looming US FOMC meeting is upon us. Once again, investors and analysts are confident that they know the result. With the rate currently at 5.50%, markets have priced in a hold, with the CME FedWatch Tool giving it a 99.6% probability of the second consecutive hold for the Fed. Let’s explore that 0.4% chance that ...
November 1, 2023Read More >Will any BOJ intervention really have an impact on continued JPY weakness?
With the USD/JPY sitting at historic highs and touching the psychologically important level of 150 at the end of last week, markets are waiting to see if there is likely to be any intervention today from the Bank of Japan (BOJ). Today, we see their two-day policy meeting concluding, culminating in their interest rate decision and, more importantly,...
October 31, 2023Read More >Three Key Things Markets Will Be Watching This Week
As major indices continue to look weak and test key technical levels, ongoing market sentiment is difficult to judge, with several crucial information points coming up over the next few days. #1 The Fed Rate Decision The Federal Reserve's narrative remains hawkish in terms of medium-term interest rates. Friday's PCE data did little to calm fe...
October 30, 2023Read More >
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