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Summary:

  • Noord stream 1 gas pipeline to begin maintenance.
  • Gains for the GBP suggest that the currency has been holding some political risk premium.
  • AUD/JPY bullish.
  • USD/JPY

Read next: Pound Sterling Offered Support After News That Boris Johnson Is Set To Step Down (EUR/GBP, GBP/USD), FED FOMC Meeting Minutes (EUR/USD), Japan’s Upper House Elections (USD/JPY) 

Sell-off sentiment for the Euro continues

The market is reflecting bearish signals for this currency pair. The sell-off sentiment for the Euro is showing no sign of stopping going into the weekend, the woes around the Euro continue to stack up, with latest concerns becoming stronger around the repairing of the Noord Stream gas pipeline. The pipeline has been labelled a risk to both the EU economy and the German economy should Russia cut the gas flow or undersupply. In addition, the Fed’s FOMC meeting minutes for June reiterated the Fed’s commitment to aggressively hiking interest rates despite risk of slow econ

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ECB Offering The Euro Support (EUR/USD), Strengthening Of The Renminbi Supporting The EUR and GBP, SNB Turns Hawkish (EUR/CHF) - Good Morning Forex!

Rebecca Duthie Rebecca Duthie 23.05.2022 10:29
Summary: ECB offering support to the EUR, whilst easing lockdowns in China aids in the weakening US Dollar. Euro and GBP are likely to strengthen with the Renminbi. SNB and ECB hawkishness offers support to their respective currencies. GBP/CAD Read next: US Dollar Is Likely To Experience Volatility In The Coming Weeks (EUR/USD), UK Retail Data Exceeds Market Expectations (EUR/GBP), SNB Turns Hawkish Causing the CHF To Rally (EUR/CHF) - Good Morning Forex!  Easing lockdowns in China dragging down the US Dollar Market sentiment for this currency pair is reflecting bullish signals. On Monday the European Central Bank (ECB) announced that it is likely that July would be the starting period for raising interest rates. At the same time, the easing of lockdowns in China has aided in weakening the US Dollar. The trading week is full of US events along with some European Central Bank events, all of which will be watched closely. EUR/USD Price Chart Euro and GBP both showing signs of strengthening Market sentiment for this currency pair is reflecting mixed signals. The prospect of the Chinese Renminbi rebounding is likely to have a positive impact on the value of both the Pound Sterling and the Euro. In addition the market believes that the Bank of England (BoE) is likely to continue raising interest rates in the coming months along with the increased likelihood of the European Central Bank (ECB) raising the interest rates. EUR/GBP Price Chart SNB and ECB hawkishness caused mixed sentiment for this currency pair. On Thursday last week the president of the Swiss National Bank (SNB) said that they were ready to act on the rising inflation, the hawkishness of the SNB caused the Swiss Franc to rally. The potential hawkishness of the European Central Bank (ECB) is also causing the Euro to strengthen, leaving the market sentiment for this currency pair showing mixed signals. EUR/CHF Price Chart GBP rallies against the CAD The strengthening of the GBP against the CAD throughout last week has come in the wake of increasing UK government bond yields. The strengthening came in the wake of the release of UK employment data, inflation and retail data all which support further increases in the UK government bond yields. GBP/CAD Price Chart Read next: (FTSE) FTSE 100 Rallies In Response To Positive Economic Data, US Dollar Expected To See More Volatility  Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
Serious liquidity crisis? According to Franklin Templeton, a massive, but unlikely deposit flight from Credit Suisse would have to happen

ECB Interest Rate Announcement Due Tomorrow Offers Euro Support (EUR/USD, EUR/GBP), JPY Facing Negative Outlook (USD/JPY), Potential For A Hawkish SNB Offers CHF Support (USD/CHF)

Rebecca Duthie Rebecca Duthie 08.06.2022 16:22
Summary: Markets are becoming more optimistic around hopes of a more hawkish European Central Bank (ECB). Firmer oil prices adding to downward pressure on JPY. Strong market expectations of a more hawkish Swiss National Bank (SNB). Read next: DOW 30 Turbulent In The Wake Of Targets (TGT) Profit Warning, Japanese Yen Suffering From BoJ Monetary Easing  Euro holds steady The market is reflecting mixed signals for this currency pair. The markets are becoming more optimistic around hopes of a more hawkish European Central Bank (ECB) tomorrow after adding a couple more basis points to the yearly forecasts. There has been talk of a 50bps hike in July and rumors of a possible hike on Thursday, it is likely that the market could see a change in ECB tone which has allowed the Euro to remain resilient against the US Dollar. On Wednesday, the market opened with strong economic Q1 data for the eurozone. The euro did not react instantly to the release of this data, likely due to its delay. EUR/USD Price Chart Anticipation of ECBs announcement offers Euro support The market is reflecting mixed signals for this currency pair. The Euro has gained against the pound sterling ahead of the market awaiting the European Central Banks (ECB) interest rate announcement, which is due tomorrow. Earlier in the trading week the pound sterling rallied in response to the news of Boris Johnssons vote of no confidence. If the ECB announces an interest rate hike in July, the pound sterling currency could be under pressure against the Euro. EUR/GBP Price Chart Negative outlook for Japanese Yen is likely to continue The market is reflecting bullish signals for this currency pair. In addition to the Bank of Japan (BoJ) continuing its monetary easing, firmer oil prices have added to the downward pressure on the Japanese Yen and both of these factors will continue to add to the negative outlook for the safe-haven currency. USD/JPY Price Chart CHF holding its position in the market The market is reflecting bullish signals for this currency pair. The Swiss Franc has recovered against the US Dollar in comparison to the lows experienced in mid-May when the US Dollar was at its strongest, the recovery comes in the wake of market expectations of a more hawkish Swiss National Bank (SNB). the expectations come from indications from policy makers that the SNB will increase its interest rates for the first time since the 2008 financial crisis. USD/CHF Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com
Rising U.S. Treasury Bond Yields Have Helped The USD/JPY Bulls

US CPI Inflation Acceleration Likely To See Hawkish Fed Retaliation (EUR/USD), On Thursday The Market Expects The BoE Monetary Policy Decision (EUR/GBP)

Rebecca Duthie Rebecca Duthie 13.06.2022 14:42
Summary: High US CPI inflation is likely to cause the Fed to retaliate, offering USD support. The market is reflecting mixed market signals for the EUR/GBP currency pair. Sharp decline in the value of the JPY sparks BoJ response. Read next: US CPI Data Due On Friday Offers USD Support (EUR/USD, USD/JPY, USD/CHF), Pound Sterling Rallies Against Euro Due To The ECB Press Conference Ambiguity (EUR/GBP)  EUR/USD Bearish as the market expects a hawkish Fed The market is reflecting bearish signals for this currency pair. The Euro to US Dollar exchange rate fell heavily during last week's trading week in the wake of a toxic combination of international and domestic headwinds and could likely remain under pressure in the coming days if the Fed and US bond yields continue to wear down global investor sentiment. The high US CPI inflation rate indicates that inflation is showing no signs of peaking, the Federal reserve is likely to continue on its hawkish path of tightening monetary policy, which is offering the USD support. EUR/USD Price Chart Hawkish BoE could offer GBP support The market is reflecting mixed market signals for this currency pair. On Thursday the Bank of England (BoE) is due to make a monetary policy decision, if the Bank adopts a more hawkish tone, the pound sterling could strengthen against the EUR. However, economists don't expect a large increase in interest rates and the BoE has been pushing back from hawkish market expectations for its interest rate to reach either 2% or more by year end. EUR/GBP Price Chart BoJ may be ready to step in to save the JPY The market is reflecting bullish signals for this currency pair. On Friday the Bank of Japan (BoJ) made a joint government statement which echoed the concerns over the yen’s sharp decline, which indicated that the BoJ may be ready to respond appropriately. In his latest address to parliament, Kuroda stated, "The yen's recent sharp declines are negative for Japan's economy and therefore undesirable, as they make it hard for companies to set business plans". USD/JPY Price Chart AUD/JPY currency pair The market is reflecting bullish market sentiment for this currency pair. The sharp weakening of the Japanese Yen has caused the BoJ to hint plans of stepping in to save the safe-haven currency. AUD/JPY Price Chart Sources: finance.yahoo.com, dailyfx.com, poundsterlinglive.com  
Britain's Rishi Sunak And EU's Ursula Von Der Leyen Will Meet Today To Finalize The Northern Ireland Drama

Euro Sell-off Sentiment Continues Into The Weekend (EUR/USD), UK PM Boris Johnson’s Resignation Offers GBP Support (EUR/GBP), Dovish BoJ Continues (AUD/JPY, USD/JPY)

Rebecca Duthie Rebecca Duthie 08.07.2022 12:36
Summary: Noord stream 1 gas pipeline to begin maintenance. Gains for the GBP suggest that the currency has been holding some political risk premium. AUD/JPY bullish. USD/JPY Read next: Pound Sterling Offered Support After News That Boris Johnson Is Set To Step Down (EUR/GBP, GBP/USD), FED FOMC Meeting Minutes (EUR/USD), Japan’s Upper House Elections (USD/JPY)  Sell-off sentiment for the Euro continues The market is reflecting bearish signals for this currency pair. The sell-off sentiment for the Euro is showing no sign of stopping going into the weekend, the woes around the Euro continue to stack up, with latest concerns becoming stronger around the repairing of the Noord Stream gas pipeline. The pipeline has been labelled a risk to both the EU economy and the German economy should Russia cut the gas flow or undersupply. In addition, the Fed’s FOMC meeting minutes for June reiterated the Fed’s commitment to aggressively hiking interest rates despite risk of slow economic growth. EUR/USD Price Chart Boris Johnson stepping down offers GBP support The market is reflecting bearish signals for this currency pair. The EUR/GBP pair fell by around 1% on Thursday in the wake of UK Prime Minister Boris Johnson’s resignation announcement; he will remain in power until a replacement is found. The pound sterling gains suggest indication that the currency has been holding some political risk premium that looks to have converted to a certain extent. Euro currency risk remains a domino effect of many events. EUR/GBP Price Chart Dovish BoJ continues The market is reflecting bullish signals for this currency pair. The border weakness of the Japanese Yen has been felt. The Monetary of the Ministry of Finance (MoF) in Japan and by extension includes the Bank of Japan (BoJ), is going in the complete opposite direction to other global central banks (with the exception of the People’s Bank of China. The BoJ recently committed to extending their yield curve control program (YCC) and are close to holding 50% of all Japanese government bonds (JGBs) on issue. The Reserve Bank of Australia (RBA), on the other hand, has committed to aggressive monetary policy tightening, offering the AUD support. AUD/JPY Price Chart USD/JPY Bullish The market is reflecting bullish signals for this currency pair. The Japanese Yen has been facing weakness across the board as the Bank of Japan (BoJ) continues to adopt dovish monetary policy and the Federal Reserve adopts the opposite approach and continues on with their aggressive monetary policy. The US Dollar continues to strengthen. USD/JPY Price Chart Sources: finance.yahoo.com, poundsterlinglive.com, dailyfx.com

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