01.02.2023: USD trapped in narrow range; outlook for USDX, USD/JPY, AUD/USD, NZD/USD
22.03.2023: Final rate hike? Wall Street awaits Powell’s comments with bated breath.
2023-03-22 19:32 UTC+3
22.03.2023: How Europe manages to put USD under pressure? Outlook for EUR/USD and GBP/USD
2023-03-22 15:17 UTC+3
22.03.2023: JPY wins luster with investors; USD unable to climb. USDX, USD/JPY, AUD/USD, NZD/USD
2023-03-22 14:47 UTC+3
22.03.2023: Fed rate decision takes focus. Outlook for oil, gold, RUB
2023-03-22 14:32 UTC+3
21.03.2023: Investors dispelling fears; risky assets gaining ground after sell-off.
2023-03-21 19:55 UTC+3
21.03.2023: USD to face sell-off?
2023-03-21 15:40 UTC+3
21.03.2023: USD breaks out of narrow range ahead of Fed meeting; USDX, USD/JPY, AUD/USD, NZD/USD
2023-03-21 15:33 UTC+3
21.03.2023: Recession fears return. Outlook for oil, gold, RUB
2023-03-21 15:20 UTC+3
20.03.2023: Wall Street still digesting turbulent weekend.
2023-03-20 19:28 UTC+3
20.03.2023: Banking crisis worries persist. Outlook for oil, gold, RUB
2023-03-20 17:31 UTC+3
20.03.2023: Investors prefer European currencies to USD.
2023-03-20 16:32 UTC+3
20.03.2023: USD bulls in control despite downward movement (USDX, USD/JPY, AUD/USD, NZD/USD)
2023-03-20 15:38 UTC+3
17.03.2023: Storm calms down but jitters still simmering.
2023-03-17 20:27 UTC+3
17.03.2023: USD declines amid increased risk appetite; outlook for USDX, USD/JPY, AUD/USD, NZD/USD
2023-03-17 16:10 UTC+3
17.03.2023: Markets expect fresh signs of recession in US.
2023-03-17 14:17 UTC+3
17.03.2023: ECB stokes recession fears. Outlook for oil, gold, RUB
2023-03-17 13:59 UTC+3
16.03.2023: Wall Street soothing its nerves after several volatile sessions.
2023-03-16 20:09 UTC+3
16.03.2023: Oil prices sink on banking fears. Outlook for oil, gold, RUB
2023-03-16 16:38 UTC+3
16.03.2023: How ECB may react to banking crisis?
2023-03-16 16:34 UTC+3
16.03.2023: Investors cast doubt on USD as safe-haven asset (USDX, USD/JPY, AUD/USD, NZD/USD)
2023-03-16 16:05 UTC+3
15.03.2023: Wall Street braces for market turbulence.
2023-03-15 21:09 UTC+3
Optimism on Wall Street significantly affected government bond yields and the US dollar. Today, the Fed will announce its rate decision. The US dollar index was rather volatile, moving in the range of 102.0-102.2.

Sharp price fluctuations in a very narrow corridor clearly indicate mixed market sentiment. Yesterday, the greenback fell to 102 due to weak data on wage growth and home prices.

In the Asian session, the US dollar index was trading at 102.1 against its main rivals. Its consolidation will last until the Fed’s rate decision. The regulator will announce it two hours before the end of the US session.

The dollar/yen pair is also hesitant to pick up a trajectory. As traders are cautious ahead of the Fed meeting, the pair looks weak. Its growth is not as impressive as it was on Monday and even Tuesday. Back then, the bullish sentiment was stronger.

At the start of the week, the media reported that Yuri Okina, the chairman of the Japan Research Institute, could become the first female deputy governor in BOJ history. She is the vocal opponent of the ultra-soft monetary policy. The yen climbed amid the likelihood of her appointment.

In its economic outlook for 2023, the International Monetary Fund called Japan the largest industrial manufacturer. Japan’s real GDP growth is projected at 1.8%, which is far ahead of other countries.

Yet, the yen failed to retain an upward movement. Its trajectory will largely depend on the Fed’s rate decision. Besides, it is sensitive to US Treasuries, which are now growing.

After a pullback from the weekly high, the yen is hovering near 130. It is trading in the range of 129.8-130.4. However, after the Fed meeting, dollar bulls may take advantage.

In the morning, they pushed the pair to 130.3. Overall, the sentiment is moderately bearish with 57% of traders out of 43% expecting the yen to climb. If so, yen bulls may quickly return the price to the support level of 129.5. In this case, the downtrend will prevail.

The Australian dollar, which usually rises along with Wall Street, has advanced today as well. It also gained momentum thanks to data from China. The Manufacturing PMI Index in January climbed markedly and exceeded forecasts.

Oil prices moved up as well amid the recovery of the Chinese economy. This is another bullish factor for commodity currencies. In the Asian session, the Aussie kept climbing. It reached 0.7083.

In Australia, the Consumer Price Index jumped to 7.8% in December. It means that inflation has not peaked yet. Nevertheless, analysts do not expect the RBA to change its stance.

The futures market shows that traders are counting on a 25 basis point rate hike. Therefore, the main driving force for the pair remains the greenback and its movements after the Fed meeting. The pair started the day with a moderate increase in the range of 0.7036-0.7086.

In New Zealand, inflation has already passed its peak. In addition, the labor market also remains stable. The unemployment rate amounted to 3.3%. It reinforced expectations that the Reserve Bank of New Zealand could raise the key rate less aggressively later this month.

The upward movement of the New Zealand dollar is somewhat limited today because of these prospects. However, in the morning, it advanced amid the same drivers as the Aussie did. The NZD/USD pair was moving in the price corridor of 0.6417-0.6452. It was trading at 0.6450.

00:00 Intro
01:47 USDX
02:36 USD/JPY
04:47 AUD/USD
06:12 NZD/USD


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Calendar and reviews
Trader’s calendar on March 20-22: What shapes USD more: banking crisis or Federal Reserve?
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Trader’s calendar on March 2-3: US economy losing momentum, but USD extending its growth.
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