Forex
USD/JPY fell to 158.40 on Thursday as investors assessed both nations' central bank decisions. On the one hand, there was the Federal Reserve's (Fed) decision to hold rates steady, with Chair Jerome Powell claiming that higher energy prices will push up overall inflation.
Forex
AUD/USD trades around 0.7050 on Thursday, up 0.34% on the day, supported by the resilience of the Australian Dollar (AUD) following the release of Australia’s employment data.
Commodities
The March FOMC created a vacuum in Markets, pulling down Equity Indexes, Cryptos, Metals and general sentiment. Explore reactions from this morning's Post-FOMC Market bloodshed.
Forex
Scotiabank strategists Shaun Osborne and Eric Theoret note the Canadian Dollar (CAD) is quiet against the Dollar, lagging most G10 peers as yield spreads move in favor of the USD after the Fed and Bank of Canada (BoC) meetings.
Forex
GBP/USD trades around 1.3300 on Thursday at the time of writing, up 0.28% on the day, supported by a mildly positive market reaction to the Bank of England (BoE) monetary policy decision.
The Bank of England kept rates unchanged at 3.75% as war in the Middle East and rising energy prices cloud the inflation outlook and complicate the path for UK monetary policy.
Commodities
Gold (XAU/USD) has fallen sharply to its lowest level since early February, hovering around $4,680, pressured by a strong US Dollar (USD).
Commodities
Middle East tensions cause European markets to slide as gas and oil prices soar. Central banks like the ECB and BoE are now expected to implement rate hikes to combat energy-driven inflation, abandoning prior rate cut forecasts. The report also details FX market reactions and provides technical analysis on the FTSE 100.
Forex
EUR/JPY trades around 182.70 on Thursday at the time of writing, down 0.23% on the day, as markets digest comments from the Bank of Japan (BoJ) governor and await the European Central Bank (ECB) decision.
Forex
TD Securities strategists Alex Loo and Prashant Newnaha warn that JPY intervention risks are elevated as USD/JPY trades near 160, close to its 2024 high before Ministry of Finance action.
