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USDJPY:  dips to test 100 hour Moving average before FOMC

USDJPY: dips to test 100 hour Moving average before FOMC

Information is not investment advice

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Fibonacci Levels

 XAU/USD: Gold facing a further consolidation above 23.6% retracement area. Bulls have returned recently.

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Ichimoku Kinko Hyo

EUR/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.

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US Market View

U.S. stocks are seen opening mixed Wednesday, in tight trading ranges ahead of the Federal Reserve’s latest pronouncement of its view of the country’s economic outlook.

The Federal Reserve's latest two-day policy meeting concludes later Wednesday, and the central bank is expected to keep interest rates and monthly bond purchases unchanged at current levels. Federal Reserve concludes its two-day policy meeting, seen as a crucial get together for future market direction, and thus limiting Wall Street activity. Crude pushes higher again, U.K. inflation climbs above target, while Presidents Biden and Putin meet in Geneva. Here's what's moving markets on Wednesday, June 16th. Federal Reserve Chair Jerome Powell and his colleagues have been pretty insistent over the last few months that any inflationary pressures would prove to be transitory, and the central bank would keep its ultra-easy monetary policies in place until the economic recovery was firmly entrenched.

However, with U.S. inflation rising faster than expected and the economy forecast to grow at its quickest pace in decades this year, questions have started being asked over whether the Fed should continue to keep its benchmark short-term interest rate near zero and leave unchanged a massive bond-buying program put in place to stem the economic fallout from the pandemic.

 

U.S. President Joe Biden and Russian President Vladimir Putin are set to meet in Geneva later Wednesday, with expectations low for any breakthroughs in their first meeting since Biden took office.

Relationships between the two sides have plummeted over the last few years, following Russia's 2014 annexation of Crimea from Ukraine, its 2015 intervention in Syria and U.S. charges - denied by Moscow - of its meddling in the 2016 election that brought Donald Trump to the White House. Biden calling Putin a "killer" in an interview earlier this year won’t have helped.

Crude oil prices pushed higher again Wednesday, with Brent, the international benchmark, recording its fifth consecutive gain as falling stockpiles and a recovery in demand boosted sentiment.

USA Key Point

  • US housing starts and Canadian CPI kick off Fed day.
  • ECB's Makhlouf: Too early to discuss end of PEPP now.
  • Canada May CPI +3.6% vs +3.5% y/y expecte.
  • The NZD is the strongest an the CHF is the weakest.
  • US May housing starts 1572K vs 1630K estimate.
  • US housing starts and Canadian CPI kick off Fed day.
  • ECB's Makhlouf: Too early to discuss end of PEPP now.

 

 

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It’s Time to Look at New Zealand

Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.

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