
The G20 summit took place in Bali, Indonesia, on November 2022…
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This Wednesday, the US Fed announces the interest rate and the monetary policy report.
In terms of the rate itself, no change is expected until the year 2023 – the rate will be held steady at 0.25%. The question is what happens in 2023. In this regard, there are two camps: optimists (they maintain that there are grounds to plan for rate hike in 2023) and “cautionists” (they abstain from affirming that there is certainty to increase the rate).
What are the factors in favor of the US economic optimism?
In fact, that’s the only fundamental factor, and it’s pretty inconclusive as “strong” is a very relative quality prone to change quickly with time. Largely, it is based on the same optimism that see a rate hike as the most likely scenario in 2023.
What are the factors against the US economic optimism?
Therefore, it is, basically, optimism (hopes) against realism (facts and figures). As the US Fed’s Chair Jerome Power is known for clinging to the latter, most observers believe that the coming Fed’s announcement is not going to provide much new information or interpretation of the US economic status - therefore, no major change of perspective is expected.
In such a neutral atmosphere, any subtle tone in the Fed’s commentary may move the USD in either direction. For example, the USD has been strong on the JPY lately, and hawkish outlook will support that strength lifting it to 109.50 and above. Alternatively, a dovish stance may bring it down to lower supports such as 108.00.
The G20 summit took place in Bali, Indonesia, on November 2022…
The deafening news shocked the whole world yesterday: the British Queen Elizabeth II died peacefully at the age of 96…
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
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