Fundamental view: The British pound has shown a rally during the course of the week but gave back a lot of the gains on Friday and was trading at 1.3800 level at week closing. The risk event will be the Bank of England MPR, where the central bank is expected to upgrade its economic projections with a [...]
Fundamental view: Gold markets initially tried to rally during the course of the week but then pulled back again as they cannot seem to pick up enough momentum to continue going higher. TD Securities said in a note that “While the global market is readying for an inflation overshoot, gold is underperforming.” “Institutional outflows continue [...]
Fundamental view: The Australian dollar initially tried to rally during the course of the week but gave back the gains to close above 0.7600 level. The US Federal Reserve had a monetary policy meeting this week, and some analyst referred it as a dovish meeting, it was just like the usual wait-and-see. Fed Chair Powell balanced a [...]
Fundamental view: USD traded strongly against the yen the course of the week, to pierce the ¥109 level. This is probably not about the US dollar, but because of the Japanese yen as it is getting hammered by several different currencies right now. In Japan, the BOJ has kept monetary policy unchanged as universally anticipated. [...]
