DailyFX Round Table: Central Bank Wrap-Up, Yen Crosses in Focus
- Review of this week’s central bank rate decisions - Outlook for the week ahead
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Hosted by Currency Strategists Michael Boutros, James Stanley & Christopher Vecchio, this week’s conversation revolves around recent central bank interest rate decisions from the Fed, BoE & BoJ.
-The USD is under pressure but is holding a key range heading into next week- We’ll be looking for the dust to settle with a break of this range to dictate our near-term directional bias.
-BoE- MPC shows a 5-3 spit giving GBP some legs into the close of the week. Cautiously constructive above 1.26 – Critical support at 1.2520/27.
-BoJ upgrades consumer spending expectations but rules out stimulus exit in the near-term. A review of the yen crosses heading into next week sees the possibility for further upside potential.
-Highlighting the economic docket next week is the RBNZ rate decision – Kiwi still holding below basic trendline resistance extending off the yearly highs.
Key Data Releases Next Week
Enjoy today’s webinar? Join Michael, James & Chris in their weekly strategy webinars.
Michael Boutros – Mondays at 8:30am ET
James Stanley – Tuesdays 1pm ET
Christopher Vecchio – Wednesdays at 7am ET
---Written by Michael Boutros, James Stanley & Christopher Vecchio, Currency Strategists with DailyFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.