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Trade ideas thread - European session 13 March 2023

Started by forex4you, Mar 13, 2023, 11:00 am

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Trade ideas thread - European session 13 March 2023

<p style="" class="text-align-justify">With the SVB fallout looking to be contained, markets will slowly shift the focus back towards the Fed next week. It all comes down now as to whether policymakers feel comfortable enough to stay the course or if we might see them leave interest rates unchanged, so as to not stir the pot too quickly.</p><p style="" class="text-align-justify">That is essentially the next trade setup for the dollar and right now, markets are feeling rather torn. On Wednesday last week, odds of 50 bps rate hike stood at nearly 70%. Currently, odds of a 25 bps rate hike are sitting at roughly 85% only. That's a dramatic turn in terms of pricing, which is also strongly reflected in short-term bond yields.</p><p style="" class="text-align-justify">The trade conviction now is to go with what the Fed will do and considering how we're only a day into resolving the SVB situation (with the US CPI data coming up tomorrow as well), it's still a bit of a guessing game at best.</p><p style="" class="text-align-justify">Looking at the technicals, USD/JPY remains a standout after the rejection at the 200-day moving average last week. Meanwhile, gold is also one to watch as it runs into daily resistance from its 9 February high at $1,890. Otherwise, the equities recovery or the buy value, sell hysteria play might have been the only intraday approach.</p><p style="" class="text-align-justify">What are your views on the market right now? Share your thoughts/ideas with the ForexLive community here.</p>

                This article was written by Justin Low at

Source: Trade ideas thread - European session 13 March 2023
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