Week Ahead

The Economic Week Ahead

Andria Pichidi Analysis

Well, the Fed finally pulled the trigger last week, not on another rate hike but rather the October launch date for quantitative tightening, and the sky didn’t fall. The message remained clear, however, that the majority at the Fed expect to hike once more this year and again three times in 2018 until they reach a lower “new normalization” level …

USDJPY

The Round of Strong US Data is ignored?

Andria Pichidi Analysis

U.S. initial jobless claims fell 23k to 259k in the week ended Sep 16, after tumbling 16k to 282k in the September 9 week (revised from 284k). The 4-week moving average moved up to 268.75k from 262.75k (revised from 263.25k). Continuing claims surged 44k to 1,980k in the September 9 week following the prior week’s 15k drop to 1,936k (revised …

GBPJPY

Yen consolidates into FED and BOJ announcements

Andria Pichidi Analysis

Yen has settled to a consolidation mode against US dollar after rallying quite strongly over the last week amid a risk-on backdrop in global financial markets, which the yen tends to correlate inversely to, and as markets anticipate the Fed and BoJ policy announcements, due today and tomorrow, respectively. The Fed is widely anticipated to announce the start of a …

EURNZD

EURNZD – Trying to recover?

Andria Pichidi Analysis 0 Comments

The EURNZD tries to recover today the losses seen last week, since it manages to hold above the low of the day at 1.6274. This upwards tick has been forced from Eurozone Aug HICP inflation this morning which confirmed at 1.5% y/y, up from 1.3% y/y in the previous month and in line with the preliminary number. Core inflation was …

Week Ahead

The Economic Week Ahead

Andria Pichidi Analysis 0 Comments

Signs of rising price pressures, including a resurgence in oil, are bringing central banks back into play, and the markets are responding. The pound was given extra rocket by a BoE dove Vlieghe who turned hawkish, saying that a hike could come “as early as in the coming months.” This was notable as Vlieghe has been one of the most …

UK100

UK100 at 5-months lows

Andria Pichidi Analysis 0 Comments

In yesterday’s post on UK100, I wrote : ”A Long Entry was taken once the first 30M Bullish candles seen at 7327.5. Targets for hourly, 4-hour and Daily timeframe have been set based on ATR (14) at 7340.00(H1), 7350.00(H4), and 7360.00(H4), while the Daily on was set at the mid of the Fluctuation seen since August 11 which is at …

UK100

BoE – Next in November

Andria Pichidi Analysis 0 Comments

The BoE left the repo rate at 0.25% and QE programs unchanged, as had been widely expected but while giving its firmest guidance in a decade that a rate hike is in the pipeline. The repo vote was 7-2, with MPC members Saunders and McCafferty both reprising their August votes for a 25 bp hike in the repo rate to …

USDCHF

SNB leaves rates unchanged – Swiss holds mid 0.96s

Andria Pichidi Analysis 0 Comments

SNB leaves rates unchanged tweaks language on CHF. The Swiss central bank left overall policy setting unchanged, with the Libor target range confirmed at. The statement said negative interest rates and the SNB’s willingness to “intervene in FX market as necessary” “remain essential in order to reduce the attractiveness of the Swiss franc investment and thus ease pressure on the …

NZDCAD

NZDCAD – Hourly Resistance at 0.8870

Andria Pichidi Analysis 0 Comments

The NZDCAD rallied up around 100 pips during European Open and therefore it lifted up to 0.8868 from 0.8738 lows today. In the last 6 hourly session however, pair faces an intraday resistance at 200-period SMA, which is ta 0.8870, with pound and kiwi be the strongest currencies for the day. The bigger picture though, is that the NZDCAD’s downtrend, …

GOLD

Gold breaks 1330.00 level

Andria Pichidi Analysis 0 Comments

Gold closed yesterday below 1330.00 level and it is currently traded below that,since it is under some pressure following moderate dollar strength this morning. Hence it is back on September 1st levels. Risk-on conditions have weighed as well, as N. Korea refrained from any missile or nuke tests over the weekend, and as hurricane Irma runs out of gas and …