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GBP/USD : sellers eye key support on break below 1.4000 after the FOMC
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver continuous to stand below 38.2% retracement area. There is an indecision between bulls and bears.
EU Market View
. European shares pulled back from record highs on Thursday, tracking overnight declines on Wall Street after the Federal Reserve surprised investors by indicating it could start tapering its massive stimulus sooner than expected. he dollar rose in early European trade Thursday, climbing to levels not seen for around two months after the Federal Reserve surprised markets with a hawkish turn, bringing forward its timetable for raising interest rates to 2023. The U.S. Federal Reserve concluded its latest two-day policy meeting on Wednesday, and surprised no one by maintaining the current levels of interest rates and monthly bond purchases. However, the jolt came when new projections saw 11 of 18 central bank policy makers plan for two interest rate increases of 25 basis points in 2023, a year earlier than expected, and a sharp change from the previous meeting when none of these officials were looking for hikes during that year.
With inflation soaring and the economy recovering quickly from the stresses brought about by the pandemic, the market had been expecting the Fed to discuss a timetable for reining in its massive bond-buying program. But this hawkish turn surprised. A more extreme reaction could lay ahead if signs appear of stronger-than-expected inflation and other factors that could push the Fed to taper faster than anticipated, some market participants said. Powell said policymakers are not facing a situation where they are "behind the curve."
It is still premature and unnecessary to discuss the end of the European Central Bank's emergency bond purchases, ECB chief economist Philip Lane said on Thursday, adding a lot of data is still missing before an important policy meeting in September.
Crude oil prices fell on Thursday as the U.S. dollar strengthened after the Federal Reserve signaled it might raise interest rates faster than expected, but losses were limited
EU Key Point
- UK economy may be near pre-pandemic output levels.
- SNB's Jordan: Anchored inflation expectations speak for loose policy.
- SNB leaves policy rate unchanged at -0.75%, as expected.
- USD/CAD looks to come up for air after Fed's hawkish tilt.
- EUR/USD extends fall to two-month lows on post-FOMC hangover.
- ECB's Lane: It is premature to talk about end of PEPP.
- Germany reports 1,330 new coronavirus cases, 105 deaths in latest update today.
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