Articles
Chile Industrial Production (YoY) fell from previous 2.5% to 1.7% in December
200126 January 31, 2022 21:02 FXStreet Market News
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Money Markets pricing 10 bps ECB rate hike by sept and over 25 bps by Dec
200124 January 31, 2022 20:49 Forexlive Latest News Market News
Euro Zone Money Markets Now Price In More Than Full Probability Of 10 Bps ECB Rate Hike By September And Over 25 Bps Of Hikes By December
In line with this hawkish repricing, Germany’s 10-year yield extends rise, now up 6 bps on day in biggest daily rise since Dec 8
~ I can’t see it happening myself. Markets seem to be overpricing Fed, BoE and ECB rate hike cycles.
Full Article
EUR/GBP to decline below the 0.83 level on a hawkish BoE rate hike – SocGen
200123 January 31, 2022 20:49 FXStreet Market News
EUR/GBP remains on the back foot for the fifth consecutive day. Economists at Société Générale expect the pair to finally have a crack at 0.8300 this week as the Bank of England (BoE) is set to raise rates by 25bp.
Sterling to rally on a BoE rate hike
“We don’t think the BoE will disappoint and this time will play a straight bat on Thursday. A 25p rate increase looks like done deal. Markets only discount 20bp so if the bank does hike, sterling should rally.”
“A hawkish hike – including ending the reinvestment of maturing Gilts – could set EUR/GBP on course for a decline below 0.8300. Support below the figure is situated at 0.8282/77 before 0.8218 (50% Fibo retracement of 0.9500-0.6936).”
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GBP/USD surrenders a major part of its intraday gains, retreats back to 1.3400 mark
200122 January 31, 2022 20:49 FXStreet Market News
- A combination of supporting factors assisted GBP/USD to gain positive traction on Monday.
- The UK political drama held bulls from placing aggressive bets and capped gains for the pair.
- Investors now look forward to the US economic docket for some short-term trading impetus.
The GBP/USD pair surrendered a major part of its intraday gains and was last seen hovering near the lower end of its daily trading range, just above the 1.3400 mark.
A combination of supporting factors assisted the GBP/USD pair to gain positive traction for the second successive day on Monday and recover further from over one-month low touched last week. The US dollar witnessed some profit-taking from a one-and-half year high amid the continued flattening of the US Treasury yield curve.
Hawkish comments by Atlanta Fed President Raphael Bostic over the weekend bolstered bets of aggressive policy tightening by the Fed and dampened future growth expectations. This is playing out in the money markets, where the spread between two and ten-year US government bonds fell below 59 bps for the first time since early November.
On the other hand, expectations that the Bank of England will hike interest rates at its meeting on Thursday underpinned sterling and provided an additional boost to the GBP/USD pair. Bulls, however, seemed reluctant ahead of the report into alleged lockdown-busting parties at Downing Street, expected to be released later today.
Apart from this, traders on Monday will take cues from the US economic docket – featuring the release of the Chicago PMI. This, along with the US bond yields, will influence the USD price dynamics. Apart from this, the UK political developments should allow traders to grab some short-term opportunities around the GBP/USD pair.
Technical levels to watch
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Brazil Nominal Budget Balance came in at -54.249B, below expectations (-31.434B) in December
200121 January 31, 2022 20:45 FXStreet Market News
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If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Brazil Primary Budget Surplus below forecasts (18.152B) in December: Actual (0.123B)
200120 January 31, 2022 20:45 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
USD/KRW to grind higher higher gradually towards May 2020 peak of 1237/1245 – SocGen
200118 January 31, 2022 20:12 FXStreet Market News
USD/KRW has broken out above the consolidation since October pointing towards continuation in the uptrend. Economists at Société Générale expect the pair to advance towards the May 2020 high at 1237/1245.
Short-term support located at 1196
“Daily MACD is anchored within positive territory which denotes upward momentum is still prevalent.”
“The pair is likely to head higher gradually towards projections of 1217 and 1227. May 2020 peak of 1237/1245 could be next significant hurdle.”
“Short-term supports are located at 1196 and the low formed earlier this month at 1185.”
Full Article
AUD/USD: Failure to hold 0.6990 to result in continuation of downtrend towards 0.6770 – SocGen
200117 January 31, 2022 20:12 FXStreet Market News
AUD/USD returns above 0.70 helped by risk-on mood. However, economics at Société Générale expect the aussie to suffer a deeper slump to the 0.6770 mark.
Key support for AUD/USD next at 0.6770
“An initial bounce is under way however signals of a meaningful up move are still not visible.”
“Failure to hold 0.6990 can result in continuation of downtrend towards next objectives at 0.6910 and 0.6770, the 50% retracement from 2020.”
“Immediate upside is likely to remain contained at 0.7130/0.7150.”
Full Article
India Infrastructure Output (YoY) came in at 3.8%, below expectations (8.8%) in December
200116 January 31, 2022 20:05 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
South Africa Trade Balance (in Rands) declined to 30.14B in December from previous 35.83B
200115 January 31, 2022 20:02 FXStreet Market News
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
EUR/USD Price Analysis: Upside looks corrective only
200114 January 31, 2022 20:02 FXStreet Market News
- EUR/USD adds to Friday’s small gains and revisits 1.1180.
- A breach of YTD low at 1.1121 should target 1.1100/1.1000.
EUR/USD stages a decent come back following last week’s fresh lows in the 1.1120 region (January 28), an area las visited in the summer of 2020.
So far, the ongoing strength is deemed as corrective only. That said, further downside appears likely and could extend to the round levels at 1.1100 and 1.1000 once the pair clears the so far 2022 low.
Extra losses in the pair remains well on the cards as long as it remains capped by the 4-month resistance line, today in the 1.1330/25 band.
In the longer run, the negative outlook is seen unchanged below the key 200-day SMA at 1.1690.
EUR/USD daily chart
