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Fed’s Powell: My own forecasts are similar to the committee’s forecasts

June 22, 2023

We expect the labor market to gradually cool Also expect inflation to move down this year Repeats that strong majority of committee believes two more …

Technical Analysis

USDCHF bounces higher today. Back above 100 hour MA with 200 hour MA looming on topside

June 22, 2023

The Swiss National Bank (SNB) was in play today as they raised interest rates to 1.75% from 1.5% in response to medium-term inflation increases. The …

Cryptocurrency

Bitcoin eases back below $30,000 after custodian deal sours

June 22, 2023

Some modest selling has crept into bitcoin, bringing the price back below $30,000 after BitGo revealed that it terminated a merger deal with rival custody …

Technical Analysis

USDJPY breaks to a new high. Above 61.8% of move down from the 2022 high.

June 22, 2023

USDJPY extends above retracement level The USDJPY has continued its run to the upside getting above the 61.8% retracement of the move down from the …

Central Banks

Goldman Sachs now sees 50 bps Bank of England hike in August

June 22, 2023

The calls continue to roll in with bank after bank seeing higher rates. Goldman Sachs is now leading the calls for 50 bps in August, …

Technical Analysis

USDCAD sniffs the 50% midpoint of the move up from October 2021 low

June 22, 2023

The USDCAD moved to a new low going back to September 2022, and in the process sniffed the 50% midpoint of the move up from …

Central Banks

Fed’s Powell: We have not seen much progress in the way of services inflation

June 22, 2023

A strong majority of FOMC feels there is a little further to go with rate hikes We kept rates on hold to give ourselves more …

Technical Analysis

AUDUSD buyers and sellers battle it out between technical support and resistance

June 22, 2023

The AUDUSD is having a down, and up, and back down trading day today. The “ups” have been finding resistance against its 200-hour moving average …

Central Banks

JP Morgan now sees two further Bank of England rate hikes

June 22, 2023

The market is pricing in 6.00% or 6.25% so this isn’t exactly a hawkish forecast, but the direction of change is the important change. Surely …

Central Banks

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 …