XM does not provide services to residents of the United States of America.

Market Preview

Market Comment – Fed’s Waller fuels the dollar, yen intervention warnings intensify

Posted on March 28, 2024 at 9:34 am GMT

Fed Gov. Waller says no rush to lower rates June rate cut probability declines, dollar gains Yen recovers on stronger intervention warnings Wall Street and gold trade north Dollar gains as Waller signals patience The US dollar finished Wednesday slightly higher against all but one of its major peers and continues to trade on the front foot on Thursday as well. The only currency versus which it lost ground yesterday was the Japanese yen. The greenback started the day on [..]

Market Comment – Yen sinks to intervention ‘danger zone’

Posted on March 27, 2024 at 9:43 am GMT

Yen slips to new 34-year low, drawing stronger intervention threats Swiss franc loses ground too, dollar rebounds after solid US data Gold steady near record highs, chipmakers weigh on stock markets Yen hits the danger zone Currency traders are dusting off their FX intervention playbooks after the Japanese yen briefly fell to its lowest levels since 1990 against the dollar, drawing fierce warnings from officials in Tokyo that they could step in to defend the currency. Dollar/yen is currently flirting [..]

Market Comment – Yen stabilizes as Japan ramps up intervention warning

Posted on March 26, 2024 at 9:45 am GMT

Threats of FX intervention help yen to stabilize near three-decade lows Dollar and stocks take a step back, Bitcoin jumps in anticipation of halving Shortage of liquidity could be an important market theme this week Yen on intervention watch Authorities in Japan issued another round of warnings to defend the sinking yen, which fell towards its lowest levels in three decades last week, even after the Bank of Japan raised interest rates out of negative territory. Finance minister Suzuki said [..]

post-image

Market Comment – Dollar eases from highs as intervention warning props up yen

Posted on March 25, 2024 at 10:22 am GMT

Intervention threat spurs mild rebound in yen after top currency official’s warning Yuan also rebounds, triggering broader retreat in US dollar Stock market rally cools amid quieter week before Easter break, core PCE eyed Yen firmer after fresh verbal intervention The Japanese yen edged higher on Monday, starting the holiday-shortened week on a steadier note, following a 3.5% slide on the back of the Bank of Japan’s dovish rate hike last week. Whilst the BoJ’s historic exit from negative rates [..]

Market Comment – Stocks at fresh records even as dollar bounces back

Posted on March 22, 2024 at 10:38 am GMT

Wall Street leads rally in equity markets, fuelled by rate cut optimism But US dollar stages surprise rebound amid US exceptionalism Pound slides on BoE’s dovish tilt, yen steadies, PBOC loosens grip on yuan Equities buoyed as easing expectations gather pace Shares on Wall Street are headed for strong weekly gains following the conclusion of the March central bank meetings that cemented rate cut expectations for 2024. After the European Central Bank paved the way for lower rates at the [..]

Market Comment – Dollar tumbles as Fed still sees three rate cuts this year

Posted on March 21, 2024 at 9:16 am GMT

Fed’s updated dot plot continues to suggest three rate cuts in 2024 Dollar tumbles across the board, June cut probability rises Pound traders lock gaze on BoE, SNB cuts interest rates S&P 500, Dow Jones and gold hit new record highs Dollar falls on dovish Fed The US dollar tumbled across the board on Wednesday after the Fed’s new projections revealed that officials are still expecting three quarter-point rate cuts in 2024. The greenback has been in a recovery mode [..]

Market Comment – Dollar rises as Fed enters spotlight, yen plummets

Posted on March 20, 2024 at 8:56 am GMT

US dollar gains as traders brace for hawkish Fed Yen tumbles despite BoJ’s historic decision Loonie slides on cooler than expected Canadian inflation Wall Street gains ahead of Fed, oil extends advance Will the Fed revise its dot plot higher? The US dollar traded higher against its major counterparts yesterday, gaining the most versus the yen, the kiwi and the loonie in that order. The greenback continued trading on the front foot today as well. The buying of the dollar [..]

Market Comment – BoJ hikes, scraps yield curve control, but yen slumps

Posted on March 19, 2024 at 10:08 am GMT

BoJ ends negative rates and yield curve control in historic move But yen can’t catch a break as Ueda signals ongoing accommodative stance Aussie also under pressure as RBA tones down tightening bias Dollar resumes climb before Fed comes into the limelight BoJ ditches most stimulus-era policies As had been widely speculated, the Bank of Japan announced an end to eight years of negative interest rates and sharply scaled back its asset purchases after its policy meeting on Tuesday, in [..]

post-image

Market Comment – Yen stays on the backfoot despite BoJ rate hike speculation

Posted on March 18, 2024 at 10:28 am GMT

Wage data drives up bets of BoJ rate hike on Tuesday but yen not convinced Weaker yen boosts Nikkei but inflation worries weigh on Wall Street ahead of Fed Dollar steady in calm start to a very busy week but oil unsettled by geopolitics All eyes on BoJ decision as yen slips Intensifying speculation about a potential historic rate hike by the Bank of Japan is dominating the start of the week where the Federal Reserve, as well as central [..]

Market Comment – Dollar recovers, equities stall after US data releases

Posted on March 15, 2024 at 9:35 am GMT

Dollar stages comeback as US data fuels speculation of fewer Fed cuts Stocks and Bitcoin take a step back, oil climbs after Ukraine drone attacks Yen traders play the guessing game ahead of next week’s rate decision Dollar gets excited after US data The US dollar came back swinging this week, after a series of inflation surprises fueled speculation that the Fed will signal a slower pace of rate cuts when it meets next week. Retail sales disappointed yesterday, but [..]

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.