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Fed’s Bowman: Additional hikes will be needed

June 22, 2023

Federal Reserve board governor Michelle Bowman opening remarks at a Cleveland Fed conference on “Communities thriving in a challenging economy”. Additional policy rate increases will …

Technical Analysis

The USDJPY keeps bouncing off the 100 hour MA.

June 22, 2023

The USDJPY moved down to retest the 100-hour moving out for the 3rd 4th and 5th time over the last 3 trading days. Each of …

Technical Analysis

GBPUSD buyers had their shot above the 100 hour MA after BOE hike, but they missed.

June 22, 2023

The BOE surprised with a 50 basis point hike (25 basis points expected), and the GBPUSD spiked higher on the news. However, the move above …

Central Banks

BOE’s Bailey: We are not signalling what will come next on rates

June 22, 2023

We are not signalling what will come next on rates We are not seeking to precipitate a recession It was absolutely imperative that the BOE …

Technical Analysis

EURUSD extends higher today but backs off after break of 1.1000 fails

June 22, 2023

The EURUSD moved above the 1.1000 level and the swing high from early May (May 10 to be exact) at 1.1006. The high price it …

Technical Analysis

The NZD is the strongest and the JPY is the weakest as the NA session begins

June 22, 2023

As the North American session begins, the NZD is the strongest and the JPY is the weakest. The USD is mixed ahead of the Fed …

Central Banks

ECB’s Nagel: Tight labor market could result in persistent inflationary pressures

June 22, 2023

Rates have not peaked and eventual peak must be held for an extended period until inflation is broken Once we’ve reached peak rates or near-peak …

Central Banks

BOE surprises with 50 bps rate hike, bringing bank rate to 5.00%

June 22, 2023

Prior 4.50% Bank rate vote 7-2 vs 7-2 expected (Dhingra, Tenreyro voted to keep rates at 4.50%) Continuing to monitor closely the impact of the …

Sentiment

France 40 IG Client Sentiment: Our data shows traders are now net-long France 40 for the first time since Jun 02, 2023 when France 40 traded near 7,273.40.

June 22, 2023

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger France 40-bearish contrarian …

Central Banks

SNB’s Jordan: The view that policy would be better by not tightening today is false

June 22, 2023

Most likely we will have to tighten monetary policy again But we can also take a more gradual approach A gradual approach is appropriate at …

Central Banks

SNB’s Jordan: We cannot rule out further monetary policy tightening

June 22, 2023

Monetary tightening has strengthened Swiss franc Still, underlying inflation pressure has risen further There is a danger inflation may become entrenched above 2% Inflation caused …