US:The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.The US CPI last week came in line with expectations, so the market’s pricing remained...
ECB are done hiking, rate cuts seen in Q3 next year – poll
All 70 economists polled anticipate that the ECB is to hold the deposit rate unchanged at 4.00% until year-end. Meanwhile, 41 of 70 economists (~59%) see the ECB waiting until at least Q3 next year i.e. July at the earliest before taking the step to cut rates. Here...
Most Crucial Economic Events in the Second Half of 2023 – Part 1
With the global economy weakening, you may wonder what will impact capital markets in the second half of 2023. Will the U.S. Federal Reserve stop raising rates? What factors will influence dollar and gold prices? What will be the key themes of the year ahead? Several...
AUDUSD Technical Analysis – Still trading in a range
US:The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.The US CPI last week came in line with expectations, so the market’s pricing remained...
OECD raises global growth outlook for the year
2023 global growth forecast at 3.0% (previously 2.7%), 2024 at 2.7% (previously 2.9%)2023 US growth forecast at 2.2% (previously 1.6%), 2024 at 1.3% (previously 1.0%)2023 China growth forecast at 5.1% (previously 5.4%), 2024 at 4.6% (previously 5.1%)2023 Eurozone...
Eurozone August final CPI +5.2% vs +5.3% y/y prelim
Prior +5.3%Core CPI +5.3% vs +5.3% y/y prelimPrior +5.5%A slight revision to the headline figure but the positive news is that the core reading has toned down compared to July. That being said, at above 5%, it is still way too high for the ECB's liking. But we'll see...
One last rate hike for the BOE this week?
Just a month ago, we were still debating about 6% rates for the BOE outlook but all of a sudden now, markets are only seeing just a little over one more rate hike for the central bank. Here's a look at the change in the OIS market pricing:The odds of a 25 bps rate...
Xsolla Launches Mall, An Online Destination For Video Games
Xsolla, a global video game commerce company, has announced a new online destination called Xsolla Mall. This platform allows video games to host multiple landing pages where players can access exclusive in-game items, game discounts, and premium experiences directly...
USDCAD Technical Analysis – Key levels in sight
US:The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.The US CPI last week came in line with expectations, so the market’s pricing remained...
Eurozone July current account balance €20.9 billion vs €35.8 billion prior
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
CADJPY: Ahead of Canadian CPI
The CPI figures for Canada will be closely watched today, as predictions point to an increase. Headline inflation is forecast at 3.8% y/y, up from 3.3% y/y in July. If this happens, it will be the third consecutive month that the inflation rate has increased, reaching...
Oil to $100 next?
In a week where things are starting off rather quietly, oil continues to sizzle as we see WTI crude touch above $92 today. The unrelenting push higher now sees oil pushing closer towards the highs from October and early November last year, at around $93.25-73 next....
GBPUSD Technical Analysis – The pair is in a strong downtrend
US:The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.The US CPI last week came in line with expectations, so the market’s pricing remained...
FX option expiries for 19 September 10am New York cut
Similar to yesterday, there isn't anything significant on the expiries board for today as well. As such, trading sentiment will continue to be rather tied down as broader markets are waiting on the Fed decision tomorrow firstly before really committing to any moves on...
European equities a touch lower at the open today
Eurostoxx -0.2%Germany DAX -0.2%France CAC 40 -0.2%UK FTSE flatSpain IBEX -0.1%Italy FTSE MIB -0.2%Investors are still largely waiting on the main events coming up later this week before firming up their intentions. US futures are also lightly changed after the more...
ECB’s Villeroy: We will maintain interest rates at 4% for a sufficiently long time
"The medicine is beginning to work"Current ECB rates are at a good level, better to be patient nowOnce inflation is back to around 2%, rates can fall againOr so he says. We'll see how tolerant they can be when economic conditions continue to worsen at the current pace...
EURUSD Technical Analysis – “Sell on rallies” mode
US:The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.The US CPI last week came in line with expectations, so the market’s pricing remained...
Switzerland August trade balance CHF 4.05 billion vs CHF 3.13 billion prior
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
A light one on the agenda today in Europe
Major currencies are little changed on the day and are likely to keep that way considering that we are still stuck in this waiting game. In the equities space, US futures are also lightly changed so that isn't helping with the mood while Treasuries are also seemingly...
The waiting game continues…
It's looking just as lifeless as it was yesterday ahead of European morning trade. EUR/USD is sitting in a 15 pips range so far today and the largest one is USD/JPY, with just a measly 30 pips range. And the latter is only seen up 0.1% to 147.75 currently, so that...