StanleyC
He liked
USD/CHF Price Analysis: Rising in a channel
USD/CHF is trending higher within a rising channel. The trend is expected to continue to the next set of targets. A break below the lower channel line would be required to signal a reversal. USD/CHF is rallying in an ascending channel on the daily chart. It is in a short and medium-term uptrend whic
He liked
ECB's Cipollone: Seeing some signs of economic recovery
European Central Bank (ECB) Executive Board member Piero Cipollone said on Wednesday that they are seeing some signs of economic recovery in the Euro area, citing the latest PMI data. Cipollone said that they expect inflation to resume on its path toward 2% next year and reach the target in 2025. "I
He liked
AUD/USD rebounds from 0.6400 even Fed Powell delivers hawkish guidance
AUD/USD recovers from 0.6400 amid improved market sentiment. The Aussie Employment data will guide market expectations for RBA rate cuts. It is forecasted that Australian employers hired mere 7.2K workers in March. The AUD/USD pair finds a cushion near the round-level support of 0.6400 in Wednesday’
He liked
USD/JPY Price Analysis: Dominant uptrend continues
USD/JPY extends its uptrend into the 154.00s. It may be forming a Measured Move pattern with an end target of 156.11. RSI is overbought, however, warning a correction may be on the horizon. USD/JPY is trading in the upper 154.00s. It has formed what looks like a Measured Move price pattern composed
He liked
School me once: Student loan cancelation revisited
Summary New proposals from the Biden administration have brought student loan relief and its implications back into the macro discussion. In this report we (I) offer some context for student loans in the overarching category of household debt, (II) recap some of the high-level developments that have
He liked
Markets took Powell’s “Fed on hold” remarks very much in stride
Outlook Markets took Powell’s “Fed on hold” remarks very much in stride, since they had already come to the same conclusion. We get the Beige Book later today but it’s not likely to deliver anything new. Markets also waved off remarks from the IMF about US over-indebtedness, while appreciating the n
He liked
USD/CAD falls sharply to 1.3800 despite multiple tailwinds
USD/CAD slumps to 1.3800 even though the US Dollar exhibits strength. Investors see the BoC choosing the June meeting as their earliest point for pivoting to rate cuts. Oil prices weaken as Fed Powell’s hawkish guidance raises doubts over global economic outlook. The USD/CAD pair dipped to round-lev
He liked
Worst of both worlds: Are the risks of stagflation elevated?
Summary In this first report of a three-part series, we present a framework to characterize historical episodes of stagflation into mild, moderate or severe episodes. Iain Macleod coined the term "stagflation" during an address to the House of Commons in 1965: “We now have the worst of both worlds—n
He liked
The Dollar pauses after a climb
The US dollar is losing 0.2% since the start of the day on Wednesday against a basket of major currencies, signalling traders' eagerness to lock in some profits after a 2.5% rally over the previous seven days. Interestingly, dollar fatigue was evident shortly after Powell's admission that inflation
He liked
Silver Price Forecast: XAG/USD rallies to $28.60 with eyes on Middle East tensions
Silver price jumps higher to $28.60, driven by worsening geopolitical tensions. Israel’s response to Iran’s attack will escalate fears of Middle East tensions spreading beyond Gaza. US bond yields edge down despite Fed lean towards higher interest rates for a longer period. Silver price (XAG/USD) ad
He liked
ECB's Nagel: Price pressure in Eurozone could continue for some time
In an interview with WiWo on Wednesday, European Central Bank (ECB) policymaker and Bundesbank Chief Joachim Nagel said that price pressures in the Eurozone could continue for some time, per Reuters. "It's not completely clear if the inflation rate will reach 2% target next year and stay at this lev
He liked
France: Corporations show renewed interest in money market funds and term deposits
Annual flows of money market fund shares/units held by non-financial corporations (NFCs) in France were positive throughout 2023, having been negative from the second quarter of 2021 to the fourth quarter of 2022. This trend reversal was due most notably to the increase in key ECB interest rates on
He liked
U.S. Crude Oil Inventories Extend Recent Surge
Extending the surge seen over the past few weeks, crude oil inventories in the U.S. once again increased more than expected in the week ended April 12th, according to a report released by the Energy Information Administration on Wednesday. The report said crude oil inventories jumped by 2.7 million
He liked
Atlanta Fed Survey Finds Business Inflation Expectations Edged Down To 2.3% In April
Year-ahead inflation expectations among businesses in the southeast U.S. edged slightly lower in the month of April, according to the results of a survey released by the Federal Reserve Bank of Atlanta on Wednesday. The survey found that firms' year-ahead unit cost expectations slipped to 2.3 percen
He liked
AUD/USD advances against US Dollar on mixed US data, Aussie jobs up next
AUD/USD is buoyed by an improved risk sentiment and a sluggish US economic calendar. Wall Street opens higher, influencing currencies despite a slight increase in the US Dollar Index. Upcoming Australian employment data could impact AUD strength, with forecasts suggesting modest job growth. The Aust
Pull-up Update