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Careful what you wish for
We come into Friday with investors getting everything they could have wanted with respect to what they’d like to see to force the Fed into taking a friendlier policy track. This week’s inflation data out of the US came in soft and this latest US initial jobless claims ran up to the highest level in […]
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Three concerns about the risk on run
The main takeaway this week is the market once again repricing Fed expectations on the back of a welcome round of softer inflation data. The hope is that all of this will translate to more investor friendly monetary policy. Audio Update Technical highlights EURUSD Constructive outlook improves GBPUSD Readying for next big push higher USDJPY […]
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Market responds aggressively to US inflation data
It comes as no surprise to see the market reaction to Tuesday’s round of softer than expected US inflation data. As we’ve highlighted many times throughout the year, investors are looking for any and every excuse to pressure the Federal Reserve into reconsidering its higher for longer policy stance in favor of a more investor […]
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Market waiting to take cues from US inflation data
We’d best describe markets as being in a state of consolidation in the early week. The currency market has perhaps been a little more cautious than the stocks market, but overall, nothing much to write home about. Audio Update Technical highlights EURUSD Trying to put in recovery GBPUSD Strong support into 1.2000 USDJPY Eyes fresh […]
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The disconnect between currencies and stocks
We come into the new week contending with a disconnect in financial markets. On the one side, currency traders continue to worry about the Fed’s ongoing commitment to higher for longer policy, which has left the US Dollar in the driver’s seat. Audio Update Technical highlights EURUSD Trying to put in recovery GBPUSD Strong support […]
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Investors let down by good news
The market simply can’t get away from its efforts to try and force a more accommodative Fed narrative at every turn. But what’s different in 2023 versus years earlier, is that this is a Fed that now refuses to bend to the will of the market. Audio Update Technical highlights EURUSD Trying to put in […]