Do not see a situation where we would need to revisit plan for July decision

“The European Central Bank (ECB) will not revisit its decision to raise interest rates by 25 basis points at its July 21 meeting,” said ECB Chief Economist Philip Lane on Monday per Reuters. Additional comments Negative rates are no longer appropriate for the bloc, but the exit will be done in two steps, first by … Read more

Central bank does not target specific spread levels for indebted countries

European Central Bank (ECB) does not target specific spread levels for indebted countries, the central bank policymaker Martins Kazaks told Reuters on Monday. Additional quotes “But we try to ensure proper transmission.” “Difficult to see rise in spreads as driven by changes in fundamentals.” “Investors shouldn’t get carried away with rate hike bets.” “Would support … Read more

GBP/JPY lacks momentum strength around 165.00, UK PMIs, BOE policymakers eyed

GBP/JPY struggles for clear directions after the first weekly loss in five. Japan’s economic assessment, Kuroda’s comments fail to impress sellers amid in action at the bond markets. UK fundamentals keep bears hopeful amid fears of economic slowdown. BOE’s Haskel, Mann could be eyed for intraday directions, UK PMIs are the key. GBP/JPY remains directionless … Read more

Yields poke weekly low, stock futures print mild gains as traders await Fed’s Powell

Market sentiment remains divided amid central banks’ moves, growth fears. US Treasury yields remain pressured for the third consecutive day. S&P 500 Futures, Euro Stoxx 50 Futures consolidated recent losses. Fed’s bi-annual monetary policy report, Powell’s speech will be crucial for fresh directions. Global markets remain dicey as central banks flex muscles to battle inflation. … Read more

Gold Price looks set to test $1,800 ahead of Fed’s Powell

Gold Price reverses from a three-month-old resistance line, sellers attack 200-DMA. Technical hurdle joins US dollar rebound to weigh on prices. Fed’s bi-annual Monetary Policy Report, Powell’s report will be crucial for fresh impulse. Gold Price (XAUUSD) extends pullback from a short-term key resistance line as sellers attack the 200-DMA heading into Friday’s European session. … Read more

S&P 500 Futures stay firmer even as US Treasury yields struggle to keep post-Fed losses

Global traders take a breather after Fed-inspired volatility recedes amid a lack of major data/events. S&P 500 Futures defend the latest gains in hopes of overcoming the inflation/growth fears. US Treasury yields fail to stretch post-Fed declines as traders eye more central banks to join the hawkish line. Market sentiment dwindles during early Thursday, after … Read more

EUR/USD marches towards 1.0500 as ECB announces unscheduled meeting, Fed eyed

EUR/USD takes the bids to refresh intraday high, extend previous day’s rebound from monthly low. ECB unveils a surprise meeting to discuss current market conditions. Yields stay pressured, stock futures fade recent gains ahead of the key central bank meetings. ECB may try to compensate for previous failures to please hawks, Fed’s 75 bp rate … Read more

Dip-buying supports Asia, China outperforms on firmer economic data

Asian equities are attracting dip-buyers on a rebound in the positive market sentiment. Chinese stocks are extremely positive on upbeat economic data. The Fed is highly expected to announce a 75 bps rate hike in its monetary policy meeting. Markets in the Asian domain are attracting some bids at dips as the US Treasury yields … Read more

USD/JPY retreats from multi-year high to 135.00 as markets brace for Fed

USD/JPY stays pressured around intraday low after reversing from the highest levels since 1998. Softer yields, upbeat Japan data adds strength to the pullback. BOJ vs. Fed play becomes crucial for near-term directions, risk catalysts, US Retail Sales may also entertain traders. USD/JPY keeps the early Asian session losses as sellers flirt with the intraday … Read more