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GBP is the strongest and the AUD is the weakest before FOMC
Information is not investment advice
Ichimoku Kinko Hyo
AUD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAU/USD: Gold facing a further weakness the last hours and trading near a full retracement area. Gold remains weak before the important FOMC decision.
US Market View
U.S. stocks are seen mixed in tight trading ranges Wednesday, with the Federal Reserve set to conclude its two-day meeting later in the session. The central bank is expected to keep rates unchanged and its $120 billion pace of monthly bond purchases on hold. Of more interest will be its updated economic predictionsand its predicted path of interest rate movements going forward. In addition, the Fed will likely say whether it's extending a key exemption on bank capital requirements that could have far-reaching consequences for the bond market.
Rises in Treasury yields caused largely by bets the central bank will have no option but to step up bond buying as the pace of inflation is set to accelerate have been a key factor influencing the movement in stocks in recent weeks, specifically the tech sector, with higher rates forcing a shift into value stocks from growth.
Oil prices weakened Wednesday, after the warned that global demand won’t return to pre-pandemic levels until 2023, and growth will be subdued thereafter.
USA Key Point
- Treasury yields continue to climb ahead of the Fed.
- Japan reportedly making final preparations to end Tokyo state of emergency.
- Treasury yields nudge a little higher, but it will all come down to the Fed today.
- GBP/USD Price Analysis: Struggles to find acceptance above 100-hour SMA.
- EUR/GBP to break below the key 0.8520 support.
- AUD/USD trades in lower half of weekly range below 0.7750, eyes on FOMC.
- Euro area annual Core CPI remains steady at 1.1% as expected.
- USD/JPY: Positive phase could end below 108.50.
- Merkel's party slides in poll as anger grows over virus management.
- Korea: No Reason To Stop AstraZeneca Vaccine
- EURUSD stays below its 200-hour MA.
- US Housing starts for February 1421M vs 1560M than estimate.
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus