Last week the US CPI report missed across the board and led to a strong rally in GBPUSD as the market priced out the more hawkish path for the Fed and now expects the July hike to be the last one. The resilient labour market and the rising consumer sentiment has also...
Markets stick with the more tepid mood so far on the session
The euro's early gains have been pared with EUR/USD now flat at 1.1235 and the dollar is little changed overall once again. The Japanese yen is still slightly higher, with USD/JPY down 0.3% to 138.28 and that owes a to the slightly lower Treasury yields on the...
ECB’s Knot: Rate hikes beyond July possible but not certain
It loos like core inflation has plateauedWe need to hike rates in JulyOptimistic to see inflation reaching 2% in 2024There is still lots of data due between now and SeptemberKnot is a perennial hawk but he's not really pushing the issue on September just yet. I would...
FX option expiries for 18 July 10am New York cut
There is just one to take note of for the day, as highlighted in bold.That being for AUD/USD at 0.6850, although it doesn't hold much of a pull I would argue. The level doesn't really have any technical significance but might just be a spot that could see price action...
EUR/USD inches higher as buyers get a little impatient
The pair is up 0.3% now to 1.1270 at the highs for the day, with the dollar keeping slightly lower across the board. The gains are now starting to run into the 61.8 Fib retracement level of the swing lower from 2021 to 2022, seen at around 1.1274:EUR/USD weekly chartI...
European equities open little changed to start the day
Eurostoxx flatGermany DAX -0.1%France CAC 40 flatUK FTSE flatSpain IBEX +0.1%This speaks to broader market sentiment, in the sense that traders and investors are likely waiting on the US retail sales data before firming up any convictions on the day. In FX, the dollar...
S&P 500 Outlook Over Next 1-2 Months: Broadening Participation Points to Further Gains
S&P 500 Index, SPX - Price Outlook:83% of the members in the S&P 500 index are above their respective 10-week moving average.MACD of 84% of the members in the S&P 500 index are above zero.What does it mean for the index’s trend? Discover what kind of forex...
Deutsche Bank cuts China full year GDP growth forecast to 5.3% from 6.0% previously
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,...
USDCAD Technical Analysis – Focus on US Retail Sales
The miss in the US CPI report last week has led to a broad US Dollar weakness as the market anticipated one last hike at the July FOMC meeting. The falling inflation, strong labour market and rising consumer sentiment have also strengthened the soft-landing narrative...
Trade ideas thread – European session 18 July 2023
Not much has changed since yesterday except that stocks are continuing to keep the upside run going, with tech stocks carrying much of that weight. The AI boom continues and are we due for a breakout year especially if the Fed pivot is looking to come true in 2H...
No major economic releases coming up in Europe today
It's a bare calendar day in Europe and that will keep the market focus on the struggling dollar, as we gear towards the US retail sales data. The greenback is lightly lower across the board today, as sellers are hoping to extend the downside momentum from last...
China announces some measures to bolster use of consumer goods and services
There is a total of 11 measures set out by Chinese authorities, in trying to boost consumption of household consumer goods and services. The measures will include encouraging companies to develop online platforms for the provision of such services, a promotion for...
Dollar stays in a tough spot so far to start the week
The greenback is lightly lower today and looks to be setting up for another drop ahead of the retail sales report. The technicals continue to do the talking, and they are very much similar to the situation yesterday here:We might be in for a quieter session in Europe,...
BlackRock has named the Saudi Aramco CEO to its board
Reuters has the info of the appointment of Amin Nasser, the chief of the world's largest oil company Saudi Aramco to the board of the world's top asset manager, BlackRock. as an independent directorReuters says: His expertise in the Middle East will fill the gap left...
ICYMI – RBA Gov. Lowe said lifting productivity growth a greater challenge than inflation
Reserve Bank of Australia Governor Lowe spoke at the G20 finance meeting in India, alongside Australian Treasurer Chalmers.On inflation and productivity:The reality that most of us face is that productivity growth has slowed down in most of our economiesIt means lower...
ForexLive Asia-Pacific FX news wrap: Awaiting US retail sales data later
The Reserve Bank of Australia kept August rate hike bubbling today with the release of the July meeting minutes. The Bank said the case for a July rate hike was strong, but was pipped by a stronger case for on hold. AUD/USD had traded a little higher, mainly due tdue...
Australian Treasurer Chalmers says it remains to be seen if more rate hikes are needed
Australian Treasurer Chalmers remarks:remains to be seen if more rate hikes are neededinflation is moderating but is still a major concernChina's economic slow down a concern for AustraliaAustralian Australian Treasurer Jim Chalmers doesn't look like thisMoneyMaker FX...
China planner approved 91 fixed-asset investment projects worth total of CNY 700bn in H1
Statement from an official of the National Development and Reform Commission of the People's Republic of China (NDRC),m the 'state planner':approved 91 fixed-asset investment projects worth total of CNY 700bn in H1persistent economic recovery faces risks and...
Moodys: For Japanese banks, a rise in interest rates would bring more benefits than risks
Analysts at Moody's rating agency say that for Japanese banks, a rise in interest rates would bring more benefits than riskshigher interest rates would spur a rise in bond yields and mark-to-market losses on investment in debt securities for Japanese banks----The Bank...
Canadian June CPI data due today – is it just a placeholder?
The June inflation data from Canada follows only days after the latest move from the Bank of Canada:Scoita is not expecting a lot from the event:Canada will update CPI inflation for the month of June on Tuesday. This one is probably just a placeholder that may spark...