All Articles Tagged - FOMC

US Open Note – Dollar remains stable after CPI and before FOMC Minutes

Posted on October 13, 2021 at 1:11 pm GMT

US CPI data jumps to 13-year high; dollar still firm The main event today was the release of the US CPI data ahead of the FOMC minutes later in the session. The annual inflation rate increased to a 13-year high of 5.4%, up from 5.3% in August and beyond market estimates of 5.3%. Consumer prices increased by 0.4% monthly, slightly exceeding predictions of 0.3%. The dollar seems to be keeping its recent gains. USD/JPY is holding below the 34-month high of 113.70. However, the euro is recouping some losses, trading near $1.1565, after [..]

US Open Note – Greenback still in positive mode as US government shutdown averted

Posted on September 30, 2021 at 1:10 pm GMT

Dollar completes green days; initial jobless claims and GDP published The dollar is still in a surging mode, with dollar index being in positive green for the fifth day in a row, hitting fresh one-year highs of 94.50. Also, dollar/yen is completing a new 20-month high at 112.07. Euro/dollar is hovering near the 20-month trough of 1.1567, posting aggressive losses in the last days. Finally, cable found support near $1.34 and is returning north. US futures are pointing for a positive open [..]

US Open Note – Dollar gains notable ground; oil continues the rise

Posted on September 27, 2021 at 12:44 pm GMT

Euro eases further after German elections The current week begins with traders’ attention on the German election results, but it serves as a reminder that politics is in full swing this week. The results of the German federal election showed that the centre-left SDP party won a small plurality, as expected. The government negotiations are expected to go until Christmas, according to some estimates. As a result, Merkel may keep her job as Chancellor for a few more months. The [..]

US Open Note – Dollar back to gains at the end of the week

Posted on September 17, 2021 at 12:38 pm GMT

Dollar/yen back above 110.00 Prior to the weekend, the dollar is holding onto its recently gained ground, with dollar/yen approaching the 110.00 psychological number. Moreover, the dollar index is currently trading at 92.78, remaining above the 50-day simple moving average (SMA). Euro/dollar is showing some positive movement today, holding near 1.1780. US futures are pointing to a positive open. Headline retail sales in the US were projected to decrease -0.7% m/m but instead gained 0.75% m/m, compared to a revised -1.8% in July. UK retail sales drive pound lower The British pound declined below $1.3800 as retail [..]

US Open Note – Markets calm down ahead of Jackson Hole

Posted on August 25, 2021 at 12:53 pm GMT

FOMC meeting and Jackson Hole attract attention There have been several confusing messages leading up to the summit (27 August). The Fed’s vice chair, Clarida, hinted at an early taper when he stated that rates could rise as early as 2022. In the US, the number of covid cases and deaths is on the rise. Especially after Kaplan’s comments on Friday, investors are increasingly focused on this factor in the run-up to the FOMC. This Thursday, the Federal Reserve’s annual Jackson Hole Symposium gets underway, and it [..]

US Open Note – FX markets head south; stocks continue to drop

Posted on August 20, 2021 at 12:57 pm GMT

Dollar index rises slightly Watered-down expectations heading into Jackson Hole next week reveal more about the economy than the Fed’s plans to taper. If the Fed does not announce a taper soon, the fear is that they will not have the opportunity to do so if the US virus situation does not get better in the coming months. The US dollar index is surging to a new nine-month high of 93.67 today, posting the fifth consecutive green day. The greenback is flattening against the Japanese [..]

US Open Note – FOMC minutes next on the radar; greenback steady

Posted on August 18, 2021 at 1:13 pm GMT

Dollar awaits FOMC minutes for notable move The major highlight of the day is expected to be the FOMC minutes announcement. In the run up to the Jackson Hole Symposium next week, the minutes from the July 27-28 meeting will be of considerable interest. Investors are anticipating to see a highly hawkish tone in the minutes. A hawkish change is likely to occur in the September Dot Plots, with median launch expectations for a rate hike moving to 2022. The [..]

US Open Note – US retail sales released with minor impact on dollar; kiwi tumbles

Posted on August 17, 2021 at 1:06 pm GMT

US retail sales miss is mild hit to dollar The recovery in the US dollar after Friday’s sell-off is continuing today, with only a minor market reaction after the retail sales release. Retail sales in the US rose by 1.1% m/m in July versus -0.3% that was the forecast and from an upwardly revised 0.7% in the previous month. The US dollar index is up two days in a row and has nearly retraced half of its previous day’s loss. Dollar/yen is recouping some of the losses of the previous days, trading above 109.00. US [..]

US Open Note – Yen surges due to risk-off factors; oil plunges

Posted on August 16, 2021 at 12:44 pm GMT

Dollar marginally up; Stocks ease The market is beginning the week on a cautious note. The US dollar index is ticking marginally up after a strong negative session, while US futures are suggesting a negative open after the S&P 500 and Dow Jones completed new record highs on Friday. Euro/dollar failed to surpass the 1.1800 psychological level on Friday and is moving lower, while pound/dollar is hovering around 1.3870. Yen shines; commodity currencies fall The yen has risen sharply because of several risk-off factors, all [..]

US Open Note – Dollar is marginally down; euro shines

Posted on August 13, 2021 at 12:32 pm GMT

Dollar eases before Fed releases minutes next week The dollar is dropping from four-month highs as traders are waiting next week for more clues about the Federal Reserve plans for how and when it will unravel its massive stimulus program. After scaling a high of 93.13 earlier in the week, the dollar index has been lingering around 92.95 since Wednesday, when it was driven down by CPI data. Dollar/yen is creating the third consecutive red day after the climb to 110.80. The euro rebounded against the greenback even after yesterday’s [..]

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