All Articles Tagged - FOMC

US Open Note – Dollar slips as NFP report is mixed

Posted on July 2, 2021 at 1:04 pm GMT

Dollar dives after NFP report; unemployment rate advances to 5.9% The US payrolls figure has stolen the attention of traders today as has taken the markets by surprise. The dollar lost some ground after the publication of the non-farm payrolls report, falling near 111.30 against the yen after a strong bullish start towards 111.70 earlier in the day. The US dollar index is moving lower after it topped at 92.74 during the release, while S&P 500, Nasdaq 100 futures and Dow Jones are recording new [..]

US Open Note – Dollar continues to move north after ADP release

Posted on June 30, 2021 at 1:03 pm GMT

The dollar held on to recent gains as virus concerns arose in a market already on edge before the NFP report on Friday that is considered as critical to the Federal Reserve’s monetary policy outlook. Any clues about labor market strength might put more worries on the Fed to move faster on interest rate hikes, potentially lifting the dollar, while data that falls short of expectations could put the currency at risk. In June, private businesses in the US recruited 692,000 workers, down from 978 [..]

US Open Note – Markets are calm ahead of data exposure later this week

Posted on June 28, 2021 at 12:41 pm GMT

Dollar flirts with 111 yen; euro retreats near $1.19 as greenback gains ground It’s been a quiet start to the week as the greenback is trying to improve its long-term structure with all the attention turning on the NFP report on Friday. The dollar is heading north just below 111.00 versus the Japanese yen, while the dollar index is finding a restrictive support at the 20-day simple moving average (SMA) near 91.50. The euro is holding near $1.19 for the fourth day in a row but [..]

US Open Note – Fed decision in spotlight; dollar rises near 109 yen

Posted on April 28, 2021 at 1:11 pm GMT

FOMC meeting in focus; dollar heads higher The major highlight of the day is the Federal Reserve’s policy announcement at 18:00 GMT. Policymakers will likely recognize the fast economic recovery from the pandemic as the progressing vaccination program brightens the outlook for the economy. Despite that, the central bank is expected to keep interest rates steady within the target range of 0-0.25% and its monthly bond purchases stable at $120 billion. Following the Bank of Canada’s bond tapering announcement, investors will be eaerly waiting to hear whether the Fed is also planning [..]

Asian Session – Dollar gains against yen after weak Japan trade data

Posted on February 20, 2017 at 6:38 am GMT

Trading was subdued in a quiet Asian session. The US dollar index was little changed but the US currency was slightly firmer, after a mixed performance last week. Disappointing trade data out of Japan weighed on the yen. Japan’s trade deficit was wider-than-expected in January. The 1.09 trillion-yen deficit was the first in five months and was more than the 629.3 billion expected. The dollar index traded at 100.94, while a weaker yen helped the dollar recoup earlier losses to [..]

Week Ahead – FOMC and RBA minutes in focus; UK GDP, PMI data due

Posted on February 17, 2017 at 2:48 pm GMT

The economic calendar for the upcoming week is relatively quieter following a busy flow of data releases this week. The FOMC minutes and Fed speakers will attract the market’s attention, while PMI data and the second estimate of fourth quarter GDP for the UK will most probably be noteworthy economic reports to look at. UK GDP in focus First up next week will be the UK’s Rightmove House Price index due on Monday. It will be a good indication [..]

FX Daily Outlook| 16-12-16

Posted on December 16, 2016 at 9:18 am GMT

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FX Daily Outlook| 15-12-16

Posted on December 15, 2016 at 1:38 pm GMT

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Asian Session – Dollar extends rally to fresh 10-month high against yen after Fed hikes rates

Posted on December 15, 2016 at 7:52 am GMT

The US dollar surged to a 10-month high against the yen as markets reacted to the news that the Federal Reserve raised interest rates and revised its forecast for next year’s pace of rate hikes. The Fed’s move indicated its confidence in the US economy and its belief that labour market conditions are tightening. The FOMC decided to lift the Fed funds rate by 25 basis points to a range of 0.5 to 0.75 percent after a two-day meeting and [..]

Forex News – Dollar breaks above 117 yen as Fed raises rates, ups outlook

Posted on December 14, 2016 at 9:50 pm GMT

The US Federal Reserve announced a hike of 25 bps in its benchmark rate at its policy meeting today, in a decision that was widely anticipated by financial markets. The move is the first increase in 2016 and the first since last December’s historic decision to raise rates for the first time since the financial crisis. Federal Open Market Committee (FOMC) members were unanimous in voting in favour of raising the federal funds rate to a target range of 0.50-0.75% [..]

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