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Jan US NFP: Making the Case for the Fed – Orbex Forex Trading Blog

Source Node: https://www.orbex.com/blog/en/2024/02/jan-us-nfp-making-the-case-for-the-fed
Time Stamp: February 1, 2024 8:41 AM - Modified On: February 1, 2024 - Published By:
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There is renewed attention on the upcoming NFP data release after the surprise move by the Fed on Wednesday. Though surprise really should be in quotes, since the FOMC essentially committed to doing what it said it would do all along. Fed Chair Jerome Powell’s more explicit ruling out of a rate hike for March was in line with projections he himself had made at the prior meeting. It could be argued that his comments were more definitive than would be expected. But as talked about in the preview to

BOE leaves bank rate unchanged at 5.25% as expected | Forexlive

Source Node: https://www.forexlive.com/centralbank/boe-leaves-bank-rate-unchanged-at-525-as-expected-20240201/
Time Stamp: February 1, 2024 7:00 AM - Modified On: February 1, 2024 - Published By:
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Prior 5.25%Bank rate vote 6-2-1 vs 8-1-0 expected (Haskel, Mann voted for 25 bps rate hike; Dhingra voted for 25 bps rate cut)Monetary policy will need to remain restrictive for sufficiently longPrepared to adjust monetary policy as warranted by economic data to return inflation to 2% target sustainablyLabour market has continued to ease, but remains tight by historical standardsGDP growth is expected to pick up graduallyRisks to inflation are more balancedRisks around modal CPI inflation projection are skewed to the upsideAlthough services price inflation and wage growth have fallen by

GBPUSD Technical Analysis – Key levels in play ahead of the BoE decision | Forexlive

Source Node: https://www.forexlive.com/technical-analysis/gbpusd-technical-analysis-key-levels-in-play-ahead-of-the-boe-decision-20240201/
Time Stamp: February 1, 2024 6:52 AM - Modified On: February 1, 2024 - Published By:
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USDThe Fed left interest rates unchanged as expected while dropping the tightening bias in the statement but adding a slight pushback against a March rate cut.Fed Chair Powell stressed that they want to see more evidence of inflation falling back to target and that a rate cut in March is not their base case. The latest US GDP beat expectations by a big margin.The US PCE came mostly in line with expectations with the Core 3-month and 6-month annualised rates falling below the Fed’s 2% target. The US Job Openings

Fed Holds, NFP Up Next – Orbex Forex Trading Blog

Source Node: https://www.orbex.com/blog/en/2024/02/fed-holds-nfp-up-next
Time Stamp: February 1, 2024 6:11 AM - Modified On: February 1, 2024 - Published By:
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OANDA Executive Goes Solo: Launches Market Mates Brand

Source Node: https://www.financemagnates.com//forex/oanda-executive-goes-solo-launches-market-mates-brand/
Time Stamp: February 1, 2024 5:42 AM - Modified On: February 1, 2024 - Published By:
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After 15 years of gaining experience in the FX/CFD industry, Sam Eder, Head of Emerging Markets at OANDA, has decided to leave the company to start his own business from scratch. He announced today (Thursday) that he has started working on the Market Mates project. Interestingly, this is not the first business venture that Eder will develop. Dedicated Forex cloud solutions with stable and fast cross-border connections capable of high-demand scenarios. Alibaba Cloud helps Forex traders to operate securely and globally. Click to know more! Eder's career in the financial

JPY carry trades downside pressure reinforced ex-post FOMC – MarketPulse

Source Node: https://www.marketpulse.com/forex/jpy-carry-trades-downside-pressure-reinforced-ex-post-fomc/kwong
Time Stamp: February 1, 2024 5:32 AM - Modified On: February 1, 2024 - Published By:
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The US Federal Reserve pushed back the first Fed funds rate cut and Fed Chair Powell indicated that the “highly anticipated” March rate cut is not the base case for now. The dovish Fed Pivot narrative is still alive as both the 2-year and 10-year Treasury yields continued to inch lower and closed near their session lows. The continuation of down-trending US Treasury yields put pressure on JPY carry trades indirectly; AUD/JPY is the worst performing among the G-10 currencies so far. This is a follow-up analysis of our prior

GBP/USD Forecast: Powell Dims March Rate Cut Prospects

Source Node: https://www.forexcrunch.com/blog/2024/02/01/gbp-usd-forecast-powell-dims-march-rate-cut-prospects/
Time Stamp: February 1, 2024 4:07 AM - Modified On: February 1, 2024 - Published By:
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Powell challenged market expectations, shattering hopes for an early Fed rate cut in March. Investors were eagerly awaiting the BoE policy meeting later today. The pound remains one of the best performers against the dollar this year in the G10. The GBP/USD forecast revealed a bearish outlook as the pound lost its strength, succumbing to the relentless rally of the dollar. The FOMC policy meeting the day before saw Powell challenging market expectations, shattering hopes for an early Fed rate cut in March. Moreover, investors were eagerly awaiting the BoE

Intraday Analysis – CAD Choppy Recovery – Orbex Forex Trading Blog

Source Node: https://www.orbex.com/blog/en/2024/02/intraday-analysis-cad-choppy-recovery
Time Stamp: February 1, 2024 2:38 AM - Modified On: February 1, 2024 - Published By:
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The Canadian dollar recouped losses after hitting a firm double top. The pair recovered to the downside on the chart as the 1.3400 level was tested. A break above the previous resistance of 1.3460 could ease some pressure, but ideally, the supply zone needs to be cleared between 1.3490 and 1.3520 to turn things around. A break below 1.3380 could continue the bear rally, with January’s swing low at 1.3320 a critical support as the RSI drops into oversold territory. The New Zealand dollar entered another consolidation zone as prices

Market Insights Podcast – Fed leaves interest rates on hold for now – MarketPulse

Source Node: https://www.marketpulse.com/forex/usd/market-insights-podcast-fed-leaves-interest-rates-on-hold-for-now/cerlam
Time Stamp: January 31, 2024 6:24 PM - Modified On: January 31, 2024 - Published By:
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OANDA Senior Market Analyst Craig Erlam joins Jonny Hart and Trader Nick to discuss the Federal Reserve interest rate decision and what it means over the coming months. Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex,

EUR/USD gives up gains after soft German CPI – MarketPulse

Source Node: https://www.marketpulse.com/news-events/central-banks/eur-usd-gives-up-gains-after-soft-german-cpi/kfisher
Time Stamp: January 31, 2024 11:30 AM - Modified On: January 31, 2024 - Published By:
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EUR/USD showed little movement earlier but that changed after German CPI was softer than expected. The euro gained 0.40% in the aftermath of the inflation report but has given back about half of those gains. In the North American session, EUR/USD is trading at 1.0857, up 0.11%. German CPI falls to 2.9% Germany’s inflation rate dropped to 2.9% y/y in January, down sharply from 3.7% in December and just below the market estimate of 3.0%. The reading, a preliminary estimate, was the lowest rate since June 2021. The drop was

Gold – Will the Fed hint at a March cut or just leave the door slightly ajar? – MarketPulse

Source Node: https://www.marketpulse.com/gold/gold-will-the-fed-hint-at-a-march-hike-or-just-leave-the-door-slightly-ajar/cerlam
Time Stamp: January 31, 2024 9:53 AM - Modified On: January 31, 2024 - Published By:
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Fed statement and press conference key Will they hint at a rate cut in March? Gold hovering between $2,000 and $2,500 It’s been a relatively slow start to trading on Wednesday which isn’t surprising considering what’s to come later in the day. On another day, earnings from Alphabet and Microsoft may have dictated sentiment in the broader markets but as it is, investors are more focused on events in Washington, so tech aside markets are relatively flat. There’s a very good reason why this is the case. Stock markets have

BOE Rate Decision: Vote Focused – Orbex Forex Trading Blog

Source Node: https://www.orbex.com/blog/en/2024/01/boe-rate-decision-vote-focused
Time Stamp: January 31, 2024 6:25 AM - Modified On: January 31, 2024 - Published By:
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The main focus for the upcoming BOE rate decision will be potential interpretations for future actions. The consensus among economists is universal that the BOE will keep policy unchanged. But there is considerable debate as to when it will move to an easing stance, and any comment in that direction will get extra scrutinized. Like with other major central banks, there is a difference between what the BOE says it plans to do, what economists think it will do, and what the market is pricing in. At the last meeting,