WTI crude oil daily chartIt's certainly an impressive run as oil has come up strong after rallying since July, now rising to its best levels since November last year.WTI crude in particular has been sustaining around its 200-week moving average from March to June and...
Bitcoin Technical Analysis – The bulls are eyeing the 31K level
Bitcoin continues to surprise as it remains resilient to many headwinds. Yesterday we even saw a big rally after some banking woes, which resembled the bullish reaction following the regional banking crisis seen in March. Looks like Bitcoin is the go-to asset in case...
Equities continue to hold steady so far on the day
Here's a snapshot of things at the moment:Eurostoxx +1.3%Germany DAX +1.1%France CAC 40 +1.3%UK FTSE +0.8%S&P 500 futures +0.2%Nasdaq futures +0.3%Dow futures +0.2%In part, there is some element to catching up to the dip buying in Wall Street yesterday. But there...
Copper Technical Analysis – The sellers remain in control
Copper continues to be tightly correlated with what happens in China. In fact, we saw strong rallies following news of more policy support from the Chinese authorities, but the lack of strong actions weighed on Copper as the bulls keep on get disappointed. Yesterday,...
China considering talks with Japan at ASEAN meeting after Aso visit to Taiwan – report
The big hoo-ha here is that Japan's ruling Liberal Democratic Party vice president, Taro Aso, made a visit to Taiwan and made mention that "the most important thing now is to make sure that war doesn't break out in the Taiwan Strait". China is upset with the whole...
WTI Crude Oil Technical Analysis – This resistance is key
Crude Oil has been rallying strongly in the past month as the prospects of more economic stimulus from China, the resilience of other advanced economies and the production cuts gave the black gold a tailwind to reach the $83 level. In fact, recently we got a promise...
Market Update – August 9 – Defensive Stock Markets
Treasuries put in a good day, finding a solid bid as poor Chinese trade data elevated fears over global growth again. Also, there was weakness in the regional banking sector after Moody’s downgraded 10 small and medium sized banks. Fedspeak supported too after...
FX option expiries for 9 August 10am New York cut
There is just one to take note of, as highlighted in bold.That being a large set of expiries for USD/JPY at 143.00, and that is likely to keep price action in and around that level before rolling off later today. There aren't any other major drivers and with a lack of...
British Pound (GBP) Latest: EUR/GBP and GBP/NZD Outlooks
EUR/GBP and GBP/NZD OutlooksGBP/NZD continue to grind higher.EUR/GBP sitting in the middle of a multi-month range. Recommended by Nick Cawley Get Your Free GBP Forecast Get My Guide Sterling pairs have been quiet of late after the recent BoE meeting. On Friday the...
Dollar mildly softer on the day but still holding its ground this week
It's one of those summer days in Europe as markets are keeping quiet but the dollar is mildly softer across the board. It isn't much in the context of trading ranges this week and it is likely to keep that way until we get to the US CPI report tomorrow.But at least...
GBPJPY Technical Analysis – The market needs more data to pick a direction
The BoE hiked by 25 bps as expected as the UK CPI missed expectations across the board and UK employment report showed a mixed picture with both the unemployment rate and wage growth higher. The central bank seemed to be leaning more on the less hawkish side as a key...
European equities kick start the day on a more positive footing
Eurostoxx +1.1%Germany DAX +0.9%France CAC 40 +1.3%UK FTSE +0.8%Spain IBEX +0.8%A good start for European stocks but this comes after the strong dip buying in Wall Street yesterday. The overall mood is also keeping steadier today with S&P 500 futures seen up 0.15%...
USDCHF Technical Analysis – Watch these levels ahead of the US CPI
Last week, the NFP missed expectations for a second time in a row and the previous numbers were all revised lower. This was seen as a disappointment as the labour market seems to be a touch weaker than previously expected. Nevertheless, the unemployment rate fell once...
Trade ideas thread – European session 9 August 2023
Stocks were once again dealt a setback yesterday but it could've been worse. Some late dip buying helped to salvage losses in Wall Street but that still makes it five out of six days now that equities have ended on the wrong side in August. It is a bit of a check amid...
China woes remain the big risk for markets
As the focus stays on central banks and their policy decisions, it is easy to forget that while things are holding up well in the US, the risks of a hard landing seem rather far away. But if there is one thing that markets should not underestimate, it is the influence...
A rather bare calendar day coming up in Europe today
We are seeing steadier tones across the board for the most part, with some pushing and pulling in dollar pairs so far this week. It's just that time of the year and that is not leaving traders with much to work with before we get to the main event tomorrow.Dollar...
White House reportedly to detail plans restricting some US investments in China
This pertains to US investments in sensitive technology in China, with the aim being to prevent capital and expertise from helping to develop technologies that could support China's military modernisation. The source said that the long-awaited executive order is...
Forexlive Asia-pacific FX news wrap 8 Aug: China CPI/PPI both fall into negative territory
China's CPI and PPI fell into negative territory YoY for the first time since the 2020. China's Consumer Price Index (CPI) for July experienced a year-on-year decrease of -0.3%. However, there was a slight increase of +0.2% compared to June, Interestingly, this...
Steady tones as we look towards European trading
The only notable headlines so far today is from China once again, with the PBOC fixing the yuan much stronger and then stepping in to defend the currency after. Adding to that is more bad news on the economic front as not only is China now suffering from rather dead...
S&P: It is possible, but not certain, that Australia economy can manage a soft landing
S&P on Australia:It is possible, but not certain, that the Australian economy can manage a "soft landing" with inflation decreasing to the RBA’s target range.The key risk is that inflation in Australia is more sticky than expected and the RBA has to hike interest...