Standoff

18 June, 2015

Once again, the consensus for the first rate hike from the FOMC has slipped further into the distance as the Fed Chair gave a dovish tone at the post-FOMC meeting press conference. The first move remains conditional on further improvement in the labour market and when the Fed is “reasonably confident that inflation will move back to its 2% objective”. There was also an emphasis that the rate moves would be more gradual when they do come about. The dollar was weaker as a result, with EURUSD moving to the top of the recent range, with near-term resistance coming in at 1.1380/86 area. Cable took a turn for the better, making new highs for the year at 1.5851.

Once again, Greece is top of the agenda with Eurozone finance minister meeting to discuss the issue. There are no signs that any agreement or progress is going to be made, so if anything markets will be looking for signs of where we go from here with compromise and agreement not on the agenda. So overall markets have twin forces to contend with, with for the moment, is proving to be steady to softer for equities, with the softer dollar tone continuing in Asia, especially against the yen. Focus later on will be with the CPI data in the US, where core rate is seen holding steady at 1.8%, headline moving back into positive territory from -0.2%.


Source link  
USD Bounces From Month Low

Trump administration has presented its 2018 budget plan to Congress last evening. The budget plan calls to slash $3.6 trillion...

Dollar index hit a new low

The dollar index hit a new post presidential election low of 96.95 on Friday May 19th. EUR/USD hit a high of 1.1211...

USD Hit Post Election Low

To date the dollar index has almost given up all of the post presidential election rally...


BoE Expected to Keep Rates Steady

ECB Governor Draghi will make a speech in the Dutch Parliament at 12:00 BST today. It will be Draghi first speech...

Trump's Tax Reform Plan

US Treasury Secretary Mnuchin announced Trump’s tax reform plan in a press conference...

Corporate Earnings Lift US Stocks

Last week the US President Trump stated on twitter...


Market Concerns Eased

The first-round voting of the French presidential election was revealed on Sunday night...

Dollar Plunged on Trump Second Statement

The dollar index fell to a 2-week low of 99.91 in the early hours...

Markets Eye on the First Trump-Xi Meeting

US President Trump and Chinese president Xi Jinping, are scheduled to meet today at Trump’s Mar-a-Lago resort in Florida...

  


Share: