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- Submitted Jul 13, 2021|From monetamarkets.com

NZD/USD has a lot to contend with right now. A much stronger than expected US inflation report is challenging the Fed’s view that rising price pressures are temporary. The headline number was the highest in 13 years while the core reading of 4.5% ...
- Submitted Jul 12, 2021|From monetamarkets.com

Sterling has been the third best performing major this month, a pretty decent performance with the JPY and CHF safe haven currencies taking top honours. This has seen some GBP pairs break to new highs, as the UK gears up for “freedom day” and a ...
- Submitted Jul 8, 2021|From monetamarkets.com|4 comments

The yen is on track to post its biggest daily rise this year as traders dump risky positions in currency markets in a broad-based unwinding of positions. Havens are bid and high-beta commodity currencies are severely underperforming. With US 10-year ...
- Submitted Jul 7, 2021|From monetamarkets.com

We wrote a few weeks ago about the bull flag in the swissie and how a breakout looked imminent after near-term consolidation. The end of last month saw the pair move to the upside beating the post-Fed highs at 0.9237/39. In fact, we made new cycle ...
- Submitted Jul 6, 2021|From monetamarkets.com

The loonie has barely benefitted from recent rising commodity as markets look through the current near-term price pressures and oil succumbs to some profit taking this afternoon. Hopes that an OPEC+ deal will materialise in due course may not alter ...
- Submitted Jul 5, 2021|From monetamarkets.com

Market expectations around the RBA meeting early tomorrow morning had shifted in recent weeks after several central banks turned more hawkish. Strong jobs data also helped validate these hopes with the economy recovering faster than the RBA ...
- Submitted Jun 29, 2021|From monetamarkets.com

The loonie is underperforming today along with its antipodean and commodity peers. However, oil prices are supportive and bond yields also should help underpin more gains in CAD as the global economic recovery continues. NZD/CAD has been in a ...
- Submitted Jun 28, 2021|From monetamarkets.com

JPY has been on a bit of a rollercoaster ride in the wake of the surprisingly hawkish recent Fed meeting. Driven by US bond yields, it is now at a crossroads as weaker yields at the long end of the curve have reversed. While USD/JPY hit a new high ...
- Submitted Jun 25, 2021|From monetamarkets.com

Gold has consolidated this week just above the recent lows after selling off dramatically on the hawkish Fed last week. There has been little positive reaction to the recent chorus of Fed speakers, similar to the dollar which is a key driver of the ...
- Submitted Jun 24, 2021|From monetamarkets.com|2 comments

USD/CHF broke out of the descending channel we had highlighted in the past, after the hawkish Fed meeting last week. Strong bullish momentum pushed the pair into overbought territory on the daily RSI and the upper Keltner channel. Prices have now ...
- Submitted Jun 23, 2021|From monetamarkets.com

Consensus expects the MPC to stand pat at the Bank of England meeting even if some are wanting the Old Lady to follow the Fed by increasing their hawkish rhetoric. Markets continue to see the first increase in rates to roughly 0.25% by the middle of ...
- Submitted Jun 18, 2021|From monetamarkets.com|1 comment

The commodity complex has suffered this week with a double cocktail of the hawkish FOMC meeting and reports that China is preparing measures to ease price pressures in industrial metals. With such overt intervention in commodity markets, CAD, AUD ...
- Submitted Jun 15, 2021|From monetamarkets.com

The kiwi has born most of the brunt of the positive dollar momentum being the worst performing major month-to-date and on a one-month basis by some distance. We get Q1 GDP data Thursday morning first thing which may consolidate the solid ...
- Submitted Jun 14, 2021|From monetamarkets.com

The more a currency pair tracks sideways, the more the breakout will be large and we get range expansion, often in line with the existing long-term trend. Cable is marginally weaker today with the UK’s four-week delay to the grand reopening ...
- Submitted Jun 11, 2021|From monetamarkets.com|1 comment

GBP/NZD has been in an uptrend since the spike low in mid-December at 1.8523. Since then, prices have been rising at a steady pace with a series of abbreviated higher highs and higher lows. Resistance has proved its worth from October of last year ...
- Submitted Jun 8, 2021|From monetamarkets.com

While there’s much talk of low volatility in FX and stock markets with measures of price movement (Implied Volatility) back below pre-Covid levels, two CHF pairs are moving today. EUR/CHF breaking down EUR/CHF has been stuck in two sideways ranges ...
- Submitted Jun 7, 2021|From monetamarkets.com|1 comment

While there is some concern over a possible postponement of the UK’s scheduled June 21 full reopening day, the market doesn’t appear to be that fussed with sterling pretty flat versus the euro today. Politicians are giving themselves as much time as ...