The Fed is waiting for the totality of the data to be released before deciding what to do at their September meeting. As of now, the data supports the soft-landing narrative as the disinflation in the core measures continues but the strength in the labour market and...
Stock Indices Hit by More China Property Woes
Article by IG Senior Market Analyst Axel RudolphFTSE 100, CAC 40, Nasdaq 100 Analysis and ChartsFTSE 100 drops further as UK retail sales fall by more than expectedThe rout in the FTSE 100 is ongoing as UK retail sales dropped by 1.2% month-on-month in July, worse...
NZDUSD Technical Analysis – The bearish bias is still intact
The Fed is waiting for the totality of the data to be released before deciding what to do at their September meeting. As of now, the data supports the soft-landing narrative as the disinflation in the core measures continues but the strength in the labour market and...
US futures nudge lower on the session
Bear in mind that the selling does tend to intensify in US trading as it has been the case since last week. But already we are seeing some cautious tones in Europe today, with S&P 500 futures and Dow futures both down 0.2% and Nasdaq futures down 0.3%. That is...
Eurozone July final CPI +5.3% vs +5.3% y/y prelim
Prior +5.5%Core CPI +5.5% vs +5.5% y/y prelimPrior +5.5%No changes to the initial estimates and core inflation sticking at 5.5% will make it tricky for the ECB to spin the narrative for a pause in September. But policymakers will interpret it however they wish to and...
AUDUSD Technical Analysis – Watch these levels for further downside
AUDUSD 4 hourThe Fed is waiting for the totality of the data to be released before deciding what to do at their September meeting. As of now, the data supports the soft-landing narrative as the disinflation in the core measures continues but the strength in the labour...
Dollar keeps more mixed so far on the day
The heavier bond yields today isn't quite affecting the dollar so much yet in European morning trade. It's a quiet start for the greenback as it holds more mixed against the major currencies bloc for now.EUR/USD is little changed at 1.0870 levels, stuck in a 28 pips...
Gold hopes to snap losing streak this week but the technical picture remains poor
Gold has fallen in each of the last four days this week and looks set for a fourth straight weekly decline as well. It's not been pretty for gold prices since the middle of last month, upon testing resistance around $1,983. Since then, we've seen price fall back below...
EURUSD Technical Analysis – The pair remains in a “sell on rallies” mode
The Fed is waiting for the totality of the data to be released before deciding what to do at their September meeting. As of now, the data supports the soft-landing narrative as the disinflation in the core measures continues but the strength in the labour market and...
European equities lower at the open today
Eurostoxx -0.4%Germany DAX -0.5%France CAC 40 -0.5%UK FTSE -0.5%Spain IBEX -0.2%The only bright spot is that US futures are keeping flattish and little changed as we get things underway here in Europe. That said, we have seen the heavy selling only hit later on in the...
FX option expiries for 18 August 10am New York cut
There are a couple to take note of on the day, as highlighted in bold.The first being ones for EUR/USD at 1.0850 and 1.0900. Those are likely to keep price action more contained on the session, before rolling off later today. This comes as the downside momentum...
USDCAD Technical Analysis – The breakout of the trendline is a bullish sign
The Fed is waiting for the totality of the data to be released before deciding what to do at their September meeting. As of now, the data supports the soft-landing narrative as the disinflation in the core measures continues but the strength in the labour market and...
UK July retail sales -1.2% vs -0.5% m/m expected
Prior +0.7%; revised to +0.6%Retail sales -3.2% vs -2.1% y/y expectedPrior -1.0%; revised to -1.6%Retail sales (ex autos, fuel) -1.4% vs -0.7% m/m expectedPrior +0.8%; revised to +0.7%Retail sales (ex autos, fuel) -3.4% vs -2.2% y/y expectedPrior -0.9%; revised to...
USD/JPY eyes back-to-back down days as upside momentum stalls
USD/JPY daily chartIt has been a good run for the pair since the beginning of last week but it seems like the upside momentum is running out of steam now. As Treasury yields hit a bit of a wall, we are also seeing USD/JPY drop off a little today. The pair is down 0.3%...
Bond bulls make a bit of a stand for now
10-year yields in the US clipped the 4.30% mark yesterday but are pushing back lower by nearly 6 bps to 4.249% currently. The former is a key line in the sand for the bond market at the moment and so far, the bulls are making a bit of a stand. But against the...
RBNZ Assistant Governor Silk says slowdown in China, easing global growth a risk
Reserve Bank of New Zealand Assistant Governor Karen Silk spoke with Reuters in an interview. Said that there were "definitely reasons to be concerned" about the weakness in China's economyconsumer spending downhigh debt in the property sectorthe levers China had used...
Forecast for two 15bp rate cuts to come from the People’s Bank of China on Monday
I posted earlier on the Loan Prime Rate setting coming up from the People's Bank of China on Monday:This via ING, expecting 15 cuts to both the 1- and 5-year LPR:The People's Bank of China (PBoC) surprised the market on Tuesday with an unexpected cut to its one-year...
ForexLive Asia-Pacific FX news wrap: USD loses some ground
The dribble lower for US yields was a factor weighing on the US dollar in Asia trade today. Major FX rose against the dollar pretty much across the board. Even the yen added to its Thursday gains, albeit not by too much. China was one again a focus. The People’s Bank...
People’s Bank of China is expected to cut loan rates next week
Earlier this week we had rate cuts from the People's Bank of China:Coming up on Monday August 21 we get the Loan Prime Rate setting from the People's Bank of China, this'll happen around 0115 GMT, which is 9.15 pm Eastern Time Sunday US time. The MLF rate is a...
ECB’s Lane will be speaking Friday, 18 August 2023 on Inflation – live link
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