UK CPI, Rates, FOMC, BOJ, US Yields | Trade Zone with Joe Jeffriess
Thanks for checking out this week’s wrap-up.
In this week’s video, we have focused on a selection of major markets breaking down their week charts. We have reviewed the current price action, including support and resistance levels, to look out for.
Another decent week for volatility, with the FOMC sending the USD to new weekly highs. The Fed held rates but kept the door open for another rise. Risk majors had a mixed week, with the GBP taking a dive after the BOE cut rates and CPI dropped. Canadian CPI beat expectations, and the USDCAD had a whippy week, with oil also testing new monthly highs before falling.
The BOJ held rates today and didn’t make any significant changes to bond-buying, which was mainly expected. Their position on policy did the JPY no favours as it was sold. Silver has been in demand late in the week, with buyers very active today.
The ASX and most stock indexes were punished this week as US yields popped. The ten-year and two-year jumped to levels not seen for several years. The ASX was dumped on Thursday, and we will be watching the yield situation in today’s US session with interest.
This week’s wrap video
Have a great weekend.
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