Yesterday, the Nasdaq Composite continued to rally as the geopolitical risk decreased given the lack of a ground offence in Gaza and the release of some hostages at the start of the week. Moreover, the US PMIs showed a balanced economy as both the manufacturing and...
ForexLive European FX news wrap: Dollar steady, aussie gives back CPI gains
Headlines:Markets:USD leads, NZD lags on the dayEuropean equities mixed; S&P 500 futures down 0.3%US 10-year yields up 1.9 bps to 4.859%Gold up 0.2% to $1,973.24WTI crude flat at $83.69Bitcoin up 1.0% to $34,253It was a slower session today as traders didn't have...
TON Foundation and Mantle Network Form Strategic Alliance
Today, The Open Network Foundation (TON Foundation) has announced a strategic alliance with Mantle Network, a leading Ethereum Virtual Machine (EVM) Layer 2 solutions provider. This agreement positions Mantle Network as a principal ally to TON Foundation towards more...
New Client Funds Protection: Tickmill Secures $1M Client Fund Insurance with Lloyd’s
Tickmill, the renowned multi-asset broker, has reinforced its commitment to client security by securing an insurance policy for client funds. The broker partnered with Lloyd’s and obtained comprehensive insurance coverage for its clients' funds, providing a safety net...
Copper Technical Analysis – The bulls are eyeing the top trendline
The copper market remains in a tight spot. The Chinese data continues to improve amid more support from the Chinese officials while the future outlook of the global economy is weakening given the tighter financial conditions and some early cracks in the labour...
US MBA mortgage applications w.e. 20 October -1.0% vs -6.9% prior
Prior -6.9%Market index 165.2 vs 166.9 priorPurchase index 127.0 vs 129.8 priorRefinance index 354.0 vs 347.6 prior30-year mortgage rate 7.90% vs 7.70% priorYikes, the average rate of the most popular US home loan is now up to near 8% - the highest since September...
Dollar keeps the advance from yesterday going
The greenback managed to reestablish itself in trading yesterday, with the euro softening after a weak set of PMI data. The run is continuing today as equities are looking troubled while Treasury yields are also slightly higher. 10-year yields are up 2.8 bps to 4.867%...
WTI Crude Oil Technical Analysis – Watch what happens around this key support
Crude Oil prices remained supported in the past two weeks as the geopolitical risk in the Middle East stayed high around the Israel-Hamas war and possibility of a larger conflict comprising other Arab countries, especially Iran. We’ve been seeing a clear pattern of...
Japan reportedly eyes one-year income, resident tax cuts from June next year
This just rebuffs other ongoing reports on the matter, with the government said to be considering an income tax cut of ¥40,000 and cash handouts of ¥70,000 to low-income and elderly households. All of this is part of measures by the government to reduce the burden of...
Market Update – October 25 – Stocks in Red; Dollar recovers
Investors cheered the approval of a trillion-yuan sovereign issue as a harbinger of stimulus, while the Chinese government unveiled new support plans that include issuing additional sovereign debt and lifting the budget deficit ratio to finance fresh measures. Hong...
Australian dollar surrenders gains from stronger CPI data earlier
Evidently, not even improved odds of a RBA rate hike can turn the tide in negative sentiment in the aussie currently. AUD/USD was up to a high near 0.6400 in Asia but has turned flat now to 0.6357 and erasing all of the jump after the CPI data earlier today.AUD/USD 5...
GBPJPY Technical Analysis – Key levels in play
UKThe BoE kept interest rates unchanged at the last meeting. The central bank is leaning towards keeping interest rates “higher for longer”, although it kept a door open for further tightening if inflationary pressures were to be more persistent. The latest employment...
Eurozone September M3 money supply -1.2% vs -1.7% y/y expected
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,...
Germany October Ifo business climate index 86.9 vs 85.9 expected
Prior 85.7; revised to 85.8Current conditions 89.2 vs 88.5 expectedPrior 88.7Expectations 84.7 vs 83.3 expectedPrior 82.9; revised to 83.1Those are decent beats on estimates across the board for the latest Ifo business survey. However, business sentiment is just seen...
Switzerland October Credit Suisse investor sentiment -37.8 vs -27.6 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,...
IMF’s Georgieva: Inflation is still high
That requires interest rates to remain high, throwing more cold water on growthInternational cooperation truly a matter of the highest priorityThe costs of fragmentation are very significantThat's the dream for central banks but as we have come to find out, it is much...
Bitcoin consolidates gains after ETF ticker fiasco
Bitcoin (BTC/USD) daily chartIt has been quite the week so far for Bitcoin, after it surged past the $30,000 mark and took more or less one shot to clip the $35,000 mark. Since then, gains have been capped but not after a bit of a fiasco with the ETF ticker on the...
USDJPY Technical Analysis – Waiting for a breakout
USThe Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts projected in 2024.Fed Chair...
European equities off to a sluggish start at the open today
Eurostoxx -0.4%Germany DAX -0.1%France CAC 40 -0.5%UK FTSE -0.1%Spain IBEX -0.6%Italy FTSE MIB -0.5%This comes as S&P 500 futures are also marked down by 0.4%, although it is largely tech shares that are weighing on sentiment. Nasdaq futures are down 0.6% but Dow...
Aussie the only notable mover as we get into European morning trade
AUD/USD is up 0.3% on the day to 0.6375 but is off its earlier highs near 0.6400. The aussie is the only notable mover so far, climbing after the stronger Australian CPI data here. That is seeing traders price in higher odds of a RBA rate hike next month, with it...