FOREX FED decided to keep the interest rates unchanged at 5.25-5.50% and the dot plot sticks to projection of 3 rate cuts in 2024, against the market fear of indications of maybe 2 rate cuts. Dollar Index is falling towards 103-102.50 while Euro is up sharply above 1.09 and could head towards immediate resistance at Read More
SGX Nifty Premarket
FOREX European flash Consumer confidence data and Lagarde’s speech is due today ahead of the FED meeting and Chair Powell’s speech later during the day. Markets could witness volatility through this week. Dollar Index and Euro tested 104.05 and 1.0835 before reversing while EURJPY and USDJPY have risen sharply post the BOJ meeting outcome yesterday Read More
FOREX Dollar Index and Euro are headed towards 104 and 1.0850/1.08 respectively while EURJPY and USDJPY could soon test 163/164 and 149.50/150 before halting. The BOJ and RBA meetings would be important to watch today. Market consensus expects BoJ to exit away from the negative interest rate policy today. Aussie and Pound are nearing towards Read More
FOREX Most central bank policy meetings are lined up this week with the RBA and BOJ tomorrow, PBOC and FOMC on Wednesday followed by SNB and BOE on Thursday. While the market expects the central banks to keep rates steady, we may look for an indication on possible rate cuts in the coming quarter keeping Read More
FOREX The Dollar Index could be bullish towards 104 while Euro is headed towards 1.0850-1.08. USDCNY is rising towards 7.20. EURJPY is holding below 162 and USDJPY seems to be stable above 148 with scope for a rise towards 149/150. Aussie and Pound have fallen sharply contrary to our expectation of further rise towards 0.67/68 Read More
FOREX The Dollar Index could be bullish towards 104 while Euro is headed towards 1.0850-1.08. USDCNY is rising towards 7.20. EURJPY is holding below 162 and USDJPY seems to be stable above 148 with scope for a rise towards 149/150. Aussie and Pound have fallen sharply contrary to our expectation of further rise towards 0.67/68 Read More
FOREX The Dollar Index could bounce back towards 103.50 if the interim support holds around the current levels while Euro below 1.10 looks bearish towards 1.08 in the near term. USDCNY is rising towards the upper end of its 7.18-7.20 range which can hold for the near term. EURJPY and USDJPY tested our targets of Read More
FOREX The currencies seem to show some stability today. The Dollar Index may trade within 102-103.50 region for some time while Euro is falling towards the lower end of its 1.10-1.0850/1.08 range and needs a break above 1.10 to turn further bullish in the medium term. USDCNY is back within its old range of 7.18-7.20. Read More
FOREX Slight recovery seen in most currencies after the sharp movement seen over the last two sessions. Dollar Index below 103 looks bearish to 101 in the near term while Euro needs to break past 1.10 to rise further in the near term else could fall into a range of 1.10-1.0850/1.08. USDCNY has broken below Read More
FOREX Expected volatility was seen in the FX markets after the US NFP released on Friday, taking the Dollar Index towards 102 and Euro towards 1.10. Now, it must be seen if resistance at 1.10 holds on Euro and support at 102 holds on the Dollar Index for the near term. USDCNY continues to remain Read More