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A little bit of this and that for the ECB today

A little bit of this and that for the ECB today

The slightest of beats in the quarterly GDP reading for Q2 will at least provide the ECB some comfort, even as growth conditions are seen slowing down significantly. It is still a positive estimate and it is one that they can use to keep the spin of things if they...

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Eurozone Q2 preliminary GDP +0.3% vs +0.2% q/q expected

Eurozone Q2 preliminary GDP +0.3% vs +0.2% q/q expected

Prior -0.1%GDP +0.6% vs +0.5% y/y expectedPrior +1.0%The slight beat is at least a welcoming number for the ECB but the outlook is still very much uncertain. Dark clouds are circling the euro area economy to start Q3 and if they do signify a stronger downturn in the...

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AUD/USD higher on the day but buyers have more work to do

AUD/USD higher on the day but buyers have more work to do

The aussie and kiwi are sitting higher today, helped out by China stimulus news and a rally in Asian stocks. European indices were more tepid early on but are also turning the corner now with US futures also paring earlier losses to be flat on the day. That is seeing...

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UK June mortgage approvals 54.66k vs 49.00k expected

UK June mortgage approvals 54.66k vs 49.00k expected

Prior 50.52k; revised to 51.14kNet consumer credit £1.7 billion vs £1.3 billion expectedPrior £1.1 billionOf note, the net borrowing of consumer credit by individuals rose to its highest since April 2018. The breakdown shows that the borrowing on credit cards remained...

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Italy Q2 preliminary GDP -0.3% vs 0.0% q/q expected

Italy Q2 preliminary GDP -0.3% vs 0.0% q/q expected

Prior +0.6%That's a miss on estimates and is not a good look for the Italian economy, with Q3 struggles set to intensify. If the PMI data in Europe shows no signs of improvement in the next two months, we could be staring at a technical recession in Italy.MoneyMaker...

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GBP Price Forecast: Pound Readies for BoE

GBP Price Forecast: Pound Readies for BoE

POUND STERLING ANALYSIS & TALKING POINTSBoE expected to hike by 25bps this week.Key EZ and US economic data scheduled with eurozone flash GDO and core inflation in focus today.Current momentum favors neither bulls nor bears. Recommended by Warren Venketas Get Your...

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FX option expiries for 31 July 10am New York cut

FX option expiries for 31 July 10am New York cut

There are just a couple to take note of, as highlighted in bold.The first being for EUR/USD at 1.1000, so that could keep price action a little more sticky just in and around the figure level during the session ahead. The pair is observing a narrow range so far today,...

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European equities keep a touch lower at the open today

European equities keep a touch lower at the open today

Eurostoxx -0.1%Germany DAX -0.2%France CAC 40 -0.1%UK FTSE -0.1%Spain IBEX -0.2%It's just a marginal dent as compared to the gains from last week and this month in particular for European stocks. US futures are also just marginally lower with S&P 500 futures down...

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Market Outlook for the Week of 31 July – 4 August

Market Outlook for the Week of 31 July – 4 August

The past week was eventful, marked by the Fed raising interest rates by 25bps, as expected. The post-meeting comments stressed a data-dependent approach to future decisions but avoided more details about future hikes. On Friday, the BoJ kept monetary policy unchanged...

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Trade ideas thread – European session 31 July 2023

Trade ideas thread – European session 31 July 2023

And just like that, we're at the end of yet another month. After all the action last week, let's see how major currencies have performed as of today with the dollar used as a benchmark:EUR +0.9%JPY +1.6%GBP +1.2%CHF +2.6%CAD +0.1%AUD +0.3%NZD +0.9%If you discount the...

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