Tag Archives: Matt Weller

GBPAUD: Bulls in Control Ahead of “Super Thursday” Shenanigans

Matt Weller

As my colleague Kathleen Brooks noted yesterday in her in-depth preview, today is a major day for the British pound (see “Bank of England: Binge Watching the Bank’s Next Move”). In addition to the monetary policy meeting itself, the Bank of England will also release the minutes from its previous meeting and most importantly of all, its Quarterly Inflation Report, which outlines the policymakers’ longer-term views on the economy and monetary policy. It’s no exaggeration to say that the information revealed during “Super Thursday” could impact trade in sterling not just for the day or week, but for months to come. more…

USDCHF: Four-Decade Low in US Jobless Claims Could Overcome Bearish Technicals

Matt Weller

Last week, we highlighted a confluence of key resistance levels in the .9600-50 zone on USDCHF (See “USDCHF: Two Swiss-Cheese Style Holes on the Way to Parity” for more). As anticipated, the pair edged up into that area and has since turned lower to fall over 100 pips from the high set earlier this week. Now, the question on traders’ minds is “Where will the pair head next?” more…

NZDUSD Traders Crying Over Spilt Milk, Could .6400 Be Next?

Matt Weller

If I had told you Tuesday that China’s quarterly GDP would beat expectations, backed up by strong growth in Industrial Production and Retail Sales, you would logically expect NZDUSD to be trading higher. After all, China is New Zealand’s second-largest trading partner behind Australia, which is itself heavily dependent on growth in the world’s largest economy. Unfortunately, this simplified analysis ignores one critical factor: the price of milk. more…

FOMC Minutes: A Prescient Fed, For Once

Matt Weller

“There are decades where nothing happens; and there are weeks where decades happen.”
– Vladamir Lenin

The Federal Reserve’s June monetary policy meeting was only three weeks ago, but in today’s fast-paced markets, it feels like it was at least a decade ago for short-term. If you recall, the US central bank shifted its interest rate expectations (the so-called “dot chart”) lower, but the median Fed official still expected two interest rate increases this year, likely in September and December. more…