Review Brokers
No Result
View All Result
Monday, September 25, 2023
  • Login
  • Home
    • Forex Advertising
    • Economic Calendar
    • Contact Us
  • Forex Brokers
    • Best Broker 2023
  • Education
    • Forex Trading Strategies
    • Forex Trading Indicators
    • Forex/CFDs/Cryptos News
    • Promotional Content
  • Forex Promotions
    • Best Promotions
    • Affiliate Program
    • Forex No Deposit Bonus
    • Forex Demo Contest
    • Forex Rebate (Cashback)
    • Forex Live Contest
    • Forex Deposit Bonus
    • Other Promotions
  • Expert Advisors
    • Expert Advisors Price
  • Rebate Service
    • Terms and Conditions of Rebate Services
  • Home
    • Forex Advertising
    • Economic Calendar
    • Contact Us
  • Forex Brokers
    • Best Broker 2023
  • Education
    • Forex Trading Strategies
    • Forex Trading Indicators
    • Forex/CFDs/Cryptos News
    • Promotional Content
  • Forex Promotions
    • Best Promotions
    • Affiliate Program
    • Forex No Deposit Bonus
    • Forex Demo Contest
    • Forex Rebate (Cashback)
    • Forex Live Contest
    • Forex Deposit Bonus
    • Other Promotions
  • Expert Advisors
    • Expert Advisors Price
  • Rebate Service
    • Terms and Conditions of Rebate Services
No Result
View All Result
Review Brokers
No Result
View All Result

FX daily: Finding a way out of gas inflation

Admin by Admin
September 9, 2022
in Forex/CFDs/Cryptos News
0
FXcurrencies
0
SHARES
0
VIEWS

(ING Global Economics Team)

The ECB tried to come up with a bold move, while in the US the market is bracing for a 75bp Fed hike. The main focus today will be the EU energy ministers’ meeting to discuss an EU-wide solution to gas price capping. This could be a key message not only for the gas market price but also for the euro and CEE region.

USD: Markets cementing 75bp hike view

Any market reaction to Fed Chair Jerome Powell’s comments yesterday got caught in the mix with ECB headlines, but – as noted by James Knightley here – there was nothing suggesting a shift from the current hawkish stance. Markets are cementing their view that the Fed will hike by 75bp (71bp is already priced in), also thanks to a larger-than-expected decline in weekly jobless claims yesterday. This should continue to offer a supportive undercurrent to the dollar, and DXY should remain around recent highs.

Today, the focus will be on some more Fed speakers: Charles Evans (generally a dovish voice), Christopher Waller (a hawk) and Esther George. After yesterday’s comments by Powell, we doubt we’ll see much market impact from today’s speakers. The US data calendar is rather light.

Elsewhere in North America, Canada’s jobs figures for August will be released today, and the key question is whether we’ll see a positive headline read after two months of employment losses. Some robust numbers may help CAD marginally by pushing markets to price in 75bp worth of tightening by year-end, which is currently our call. However, external factors continue to be in the driving seat for the loonie, and a sustained decline below 1.3000 in USD/CAD may be a bit premature given risk sentiment instability.

EUR: Hawkish ECB provides little support

EUR/USD price action after a hawkish ECB session yesterday proved very underwhelming. Short-dated yields moved in the euro’s favour, but to no avail for the currency. In addition, when asked about the weak euro, President Christine Lagarde had little to say beyond the ECB being attentive. As we have been discussing recently, it seems growth differentials and the international investment environment are dominating the FX environment right now – neither of which are supporting the euro.

For today there will be much focus on the meeting of EU energy ministers. On the agenda to be discussed are price caps for Russian oil and gas, a levy on electricity suppliers, mandatory scaling back of electricity consumption, and liquidity support for utility companies.

This meeting may prove bearish for the euro for a number of reasons. For example, reaching an agreement on gas price caps, gas sharing and electricity levies look to be difficult and may be delayed. Mandatory electricity reduction could spark what the Belgium PM calls de-industrialisation and social unrest. There is also the risk that if Russian oil and gas caps are approved, Russia could immediately suspend the remaining oil and gas shipments coming into the EU.

With the Fed remaining hawkish, expect EUR/USD to stay offered in a broad 0.9900-1.0100 range.

GBP: Sterling remains fragile

The UK Gilt market found little to sink its teeth into yesterday regarding the energy support package. Details were scarce in terms of the size of the package – probably around £150bn – and how it is to be funded. At least some of that funding looks set to go through the Gilt market – meaning that the 10-year Gilt-Bund spread can widen out to the 200bp area. That’s a sterling negative.

Cable risks sinking back to the 1.1410 low. Given the challenges in continental Europe, EUR/GBP may trade close, but not break resistance at 0.8720.

CEE: Negative drivers recede into the background

Friday’s calendar for the region is completely empty, but the market will still absorb the echoes of the ECB and National Bank of Poland (NBP) and the surprisingly low inflation in Hungary. In addition, today’s EU energy ministers’ meeting could bring new news about gas prices. A dovish NBP Governor’s press conference and the Hungarian inflation number knocked rates lower again while EUR/USD is lower. So, all in all, everything points to weaker FX in the region, while the result is the strongest levels since mid-August.

Our belief is that this is due to another drop in gas prices, which has become the main driver of the region these days. Purely based on this relationship, we could see further appreciation, especially for the Polish zloty towards 4.680 and the Czech koruna towards 24.450 per euro. In addition, today’s EU meeting could bring a further drop in gas prices and additional support for the CEE. However, nothing changes the previous arguments for weaker FX and the narrow influence of gas prices should not last forever. Thus, in the short term, the region may benefit from this relationship, but in the long term, we believe it should trade higher.

Read USDCAD loses shine below July’s peak [Video]

Post Views: 334

Related posts:

USGDPQQWhy isn’t the US officially in a recession? BOEBank of England: Four scenarios for markets this Thursday MarketNewsPolicy support indispensable for China’s economic and financial recovery FXStreetWTI Oil – USDCAD Forecast OrbexUSD claws back losses XMGroupEURUSD continues to trade within tight boundaries, gold stays within bearish channel BitcoinHas US inflation peaked? Five things to know in Bitcoin this week MarketNewsUS ready to sign Iran nuclear deal?
Tags: Forex/CFDs/Cryptos Newshawkish ECB sessionPresident Christine Lagardethe meeting of EU energy ministersUK Gilt market
30 USD No Deposit Bonus 30 USD No Deposit Bonus 30 USD No Deposit Bonus
Previous Post

Tradeo | Up To 50% Trading Commission Discounts

Next Post

USDCAD loses shine below July’s peak [Video]

Admin

Admin

Related Posts

ForexNews
Forex/CFDs/Cryptos News

Economic Headwinds in Europe: Exploring the Lower Trading Figures

July 25, 2023
EUR-USD
Forex/CFDs/Cryptos News

EUR/USD Forecast: Turbulent Times Ahead for the Euro

July 17, 2023
FXcurrencies
Forex/CFDs/Cryptos News

Mastering Murrey Math Lines for Trading USD/JPY and USD/CAD

April 19, 2023
oil
Forex/CFDs/Cryptos News

Navigating the Turbulent Waters of Commodity Markets: Higher Prices and Weaker Margins

April 19, 2023
oil
Forex/CFDs/Cryptos News

Energy Prices Spark Inflation Surge in the US: Expert Analysis

April 17, 2023
Gold
Forex/CFDs/Cryptos News

Gold Forecast: Will it Reach $2040 Again and What are the Risks Involved?

September 11, 2023
Load More
Next Post
FXcurrencies

USDCAD loses shine below July’s peak [Video]

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

No Result
View All Result
ADVERTISEMENT
  • Trending
  • Comments
  • Latest
PrimeXBT

PrimeXBT | Step2earn Contest (06.06.22)

May 31, 2022
FBS

FBS | $100 Quick Start Bonus

February 21, 2023
PrimeXBT

PrimeXBT | TradinatoR Contest (27.06.22)

June 6, 2022
xtrade

XTrade | Xmas Season Bonus (26.12.21)

May 24, 2022
CMC Markets

What Is Bitcoin?

52
forexknowledge

What is Forex?

32
Tiomarkets

MT4 vs MT5: What trading platform to choose?

31
CMC Markets

What Is Ethereum?

29
JustMarkets-Grab a Risk-Free $30 Welcome Bonus in Forex Trading

JustMarkets – Grab a Risk-Free $30 Welcome Bonus in Forex Trading

September 25, 2023
Boost Your Profits with OctaFX 50% Bonus Offer

Boost Your Profits with OctaFX 50% Bonus Offer

September 25, 2023
XM Group - How to Claim $30 Forex Welcome Bonus

XM Group – How to Claim $30 Forex Welcome Bonus

September 24, 2023
RoboForex How to Claim $30 as a Forex Welcome Bonus

RoboForex Free Welcome Bonus: How to Claim $30 as a Forex Welcome Bonus

September 22, 2023

Advertisement

exness

fbs

XM



octafx

icmarkets

XM

Recent Posts

  • JustMarkets – Grab a Risk-Free $30 Welcome Bonus in Forex Trading
  • Boost Your Profits with OctaFX 50% Bonus Offer
  • XM Group – How to Claim $30 Forex Welcome Bonus
  • RoboForex Free Welcome Bonus: How to Claim $30 as a Forex Welcome Bonus
  • Winning Gold Trading Strategies

Connect to ReviewBrokers

facebook twitter telegram
liveinternet liveinternet
Review Brokers

ReviewBrokers Information

Address: Ho Chi Minh City, Vietnam, 70000

Contact us:
– Skype: fxvnpro
– Email:

admin@reviewbrokers.com

reviewbrokers.net@gmail.com

Payment methods:
– Webmoney
– Perfect Money
– Paypal
– Skrill
– Neteller
– Bank Wire
– Bitcoin

Categories

  • Affiliate Program (63)
  • Best Promotions (42)
  • Broker Listing (7)
  • Education (95)
  • Expert Advisors (2)
  • Forex Demo Contest (38)
  • Forex Deposit Bonus (239)
  • Forex Live Contest (53)
  • Forex No Deposit Bonus (28)
  • Forex Rebate (Cashback) (64)
  • Forex Trading Indicators (26)
  • Forex Trading Strategies (15)
  • Forex/CFDs/Cryptos News (963)
  • Other Promotions (51)
  • Promotional Content (14)

Disclaimer

Any promotions, reviews, and other information in the website are just for the information purpose only.

There is no invitation or encouragement to invest in the Financial Market such as CFDs, Forex, Binary Options, Indices, Cryptocurrencies and so on. We disclaim liability for any loss resulting from the use of information contained on this website.

The published comments are private opinions or feedback of the users. ReviewBrokers is not responsible for any information on the website.

Recent Posts

  • JustMarkets – Grab a Risk-Free $30 Welcome Bonus in Forex Trading
  • Boost Your Profits with OctaFX 50% Bonus Offer
  • XM Group – How to Claim $30 Forex Welcome Bonus
  • RoboForex Free Welcome Bonus: How to Claim $30 as a Forex Welcome Bonus
  • Winning Gold Trading Strategies
  • Top Forex Brokers with No Deposit Bonuses
  • FBS Global Roadshow: Nurturing Global Trading Communities Worldwide
  • What is a No Deposit Forex Bonus and How to Get It
  • Maximize Profits with Free Forex Trading Bots
  • How to Start Making Money with Forex Trading for Beginners
  • Trading Forex with No Deposit Bonus
  • Orbit Global FX | August Month Offer For Traders

Risk warning

Please be aware of your investment into trading markets which is high risk and not suitable for everyone.

© 2013 - 2023 Review Brokers - Forex Brokers Review - Rebates Service - Expert Advisors Signals - Forex Promotions & News.

No Result
View All Result
  • Home
    • Binary Options Brokers
    • Forex Advertising
    • Best Brokers 2022
    • Economic Calendar
    • Contact Us
  • Expert Advisors
    • Expert Advisors Price
  • Forex Brokers
  • Education
    • Forex/CFDs/Cryptos News
    • Promotional Content
  • Forex Promotions
    • Best Promotions
    • Forex No Deposit Bonus
    • Forex Demo Contest
    • Forex Rebate (Cashback)
    • Affiliate Program
    • Forex Deposit Bonus
    • Forex Live Contest
    • Other Promotions

© 2013 - 2023 Review Brokers - Forex Brokers Review - Rebates Service - Expert Advisors Signals - Forex Promotions & News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Warning: array_sum() expects parameter 1 to be array, null given in /home/betbonus/reviewbrokers.net/wp-content/plugins/jnews-social-share/class.jnews-social-background-process.php on line 111