The OPEC+ production cuts and the expectations of more economic stimulus in China following the dismal inflation numbers, gave Crude Oil enough strength to break above the key resistance zone around the $75 level. After a brief rally, the price stalled and reversed as...
Eurozone June M3 money supply +0.6% vs +1.0% y/y expected
Prior +1.4%Broad money growth in the euro area is shrinking faster than expected and this just adds to more concerns surrounding a credit crunch impacting the economy. As the ECB seeks to tighten further, this is definitely a risk that they have to consider in the...
Switzerland July Credit Suisse investor sentiment -32.6 vs -30.8 prior
Prior -30.8Swiss investor sentiment declined further in July, as sentiment is pointing to a further downturn in the economy. Switzerland's main trading partners i.e. US and Eurozone are also seeing their prospects more muted and that is leading to a a decline in...
Dollar keeps more mixed, little changed so far on the day
Most dollar pairs are seeing light changes so far today and the greenback itself is seeing some mixed tones, as markets are keeping rather tentative awaiting the FOMC meeting decision. USD/JPY did move slightly lower from its highs in Asia, down from around 141.00 to...
GBPJPY Technical Analysis – A breakout of the range can lead to a big trade
The BoE surprised with a 50 bps rate hike at the last meeting given the hot employment and inflation reports. At the next meeting, the BoE was expected to hike by 50 bps again due to another beat in the wages data but expectations changed in favour of a 25 bps...
Japan official citing BOJ’s Ueda says long-term yields remain stable under YCC
BOJ to maintain accommodative monetary policy environment for firmsYen exchange rate against dollar slightly volatile partly due to interest rate differentialsThere is a bit of a dip in USD/JPY but they don't really seem to be tied to these comments, which are just...
France July consumer confidence 85 vs 86 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,...
Could the Fed Trigger a Deeper Retreat in Bitcoin & Ethereum? BTC/USD & ETH/USD Price Action
Bitcoin, BTC/USD, Ethereum, ETH/USD - Outlook:The upward pressure in Bitcoin appears to be fading in the very short term.ETH/USD continues to hold above a crucial support.What is the outlook and what are the key levels to watch in BTC/USD and ETH/USD? Recommended by...
USDCHF Technical Analysis – The bears are watching a key level
The miss in the US CPI saw the US Dollar being sold off hard across the board as the market expected the end of the rate hike cycle after the July meeting. The US data though kept on surprising to the upside and this has led the market to have a rethink. In fact, we...
Japan keeps overall view on the economy in July
The overall assessment on the economy was maintained as "recovering moderately" with consumption, capital expenditure and exports remaining firm. But the government now says that the assessment on current business conditions is "picking up", an improved view for the...
NAB now sees no RBA rate hike in August
That is now one of Australia's "big four" banks making a revision to their earlier call, in which they expected a 25 bps rate hike by the RBA next week. I reckon we might see more firms make a similar call to NAB here but it is rather borderline at the moment. In...
FX option expiries for 26 July 10am New York cut
There are a couple to take note of on the day, as highlighted in bold.They are both being for EUR/USD at 1.1025 and 1.1070-75. There might not be much technical significance to those levels but given recent price action and the fact that we have to wait on the FOMC...
Deutsche Bank expect European growth only a little above stagnation over next few quarters
On Tuesday the European Central Bank released its latest Bank Lending Survey. Deutsche Bank says its been keeping a close eye on lending standards for evidence of monetary policy lags. On the latest report:On the downside, the BLS showed the sharpest decline in demand...
Australian Treasurer Chalmers says there is a long way to go to beat inflation
<!--> --> Eamonn Sheridan Wednesday, 26/07/2023 | 03:10 GMT-0 26/07/2023 | 03:10 GMT-0 <!--> --> Australian Treasurer Chalmers speaking after the CPI data published earlier today:AUD - decline in inflation should be enough to keep the RBA on hold at...
ForexLive Asia-Pacific FX news wrap: Awaiting the Federal Open Market Committee (FOMC)
The Australian dollar was a mover on the session, marked lower after inflation data for Q2 2023 was released. The headline and one of the core measures (trimmed mean)came in lower than expected, and the annualised rate for the past six months to 2.6% were all positive...
FOMC preview – “JPMorgan’s Trading Desk Sees Fed ‘Hike and Pause’ Lifting Stocks”
Bloomberg convey the info in a note from JP Morgan on FOMC scenarios:An interest-rate hike plus statements suggesting policymakers will hold off at their next meeting could push the S&P 500 as much as 0.75% higherassigns a 65% probability for the central bank to...
IMF warns of upside risk to Japan inflation, urges BOJ to start preparing for tightening
The International Monetary Fund's chief economist Pierre-Olivier Gourinchas spoke on Tuesday, at a news conference held after the release of the IMF's updated World Economic Outlook report."Right now, the risk is probably on the upside, that maybe inflation pressures...
AUD – decline in inflation should be enough to keep the RBA on hold at their next meeting
The inflation data is here:And AUD response:Analyst responses are coming in, this rapid one via ING:Another decline in inflation should be enough to keep the Reserve Bank of Australia (RBA) on hold at their next meeting, but the helping hand from base effects will...
AUD/USD marked lower after better than expected (with a caveat) inflation data
The data post is here:Headline and trimmed mean core inflation both came in lower than expected while the weighted median core measure came in slightly above. the big caveat though was that services inflation, that the Reserve Bank of Australia is paying close...
Australian Q2 Headline CPI 0.8% q/q (vs. 1.0% expected)
Inflation data from Australia for the April - June quarter of 2023, along with June month CPI also:more to comeThe 'trimmed mean' is the preferred measure of underlying, or core, inflation.There is another core measure, the weighted median: 1.0% q/q vs. expected 1.1%...