> US initial jobless claims 237K vs 250K est. The Continuing claims 1.729M vs 1.723M est. Weekly US initial jobless claims and continuing claims <!--> --> <!--> Initial jobless claimsPrior week 248K. Revised to 249KFor the week ending July 8, initial...
US June PPI final demand 0.1% vs 0.4% expected. Ex food and energy 2.4% vs 2.6% expected.
Ppi YoY is at lowest level since December 2020Prior month, 1.1%PPI MoM 0.1% vs 0.2% estimate, after a -0.4% decline in May (was -0.3%) and a 0.1% increase in April.The index for final demand increased by 0.1% on an annual basis vs 0.4% estimate.The rise in June's...
ForexLive European FX news wrap: The dollar selling continues
Dollar technicals:Headlines:Markets:AUD leads, JPY lags on the dayEuropean equities higher; S&P 500 futures up 0.3%US 10-year yields down 3.7 bps to 3.824%Gold up 0.1% to $1,959.73WTI crude up 0.2% to $75.86Bitcoin up 0.7% to $30,558We are getting a continuation...
ECB accounts: Members generally concurred interest rates had reached restrictive territory
Members considered that there were both upside and downside risks to the inflation outlookIt was argued that market participants would be surprised by the upward revision of inflationThis could trigger a repricing of the forward curveMembers broadly concurred that...
SEC calls for a special rebalancing
Now that five stocks – Microsoft, Apple, Nvidia, Amazon and Tesla – have reached a combined 43.8% weight in the Nasdaq100 Index, a technical issue has arisen. Such a percentage is very close to being against a US Securities and Exchange Commission (SEC)...
UK parliament says government strategy on China risk is ‘completely inadequate’
The government strategy deployed is 'completely inadequate'There is too much focus on short-term economics rather than long-term risksBeijing has taken advantage of that, targeting the UK and its interest 'prolifically and aggressively'China has successfully...
NZD/USD takes aim at April and May highs on latest jump higher
The dollar is breaking down across the board and one of the main beneficiaries today is the kiwi. A better risk mood is also helping as NZD/USD is up 0.9% to 0.6350 levels despite the RBNZ keeping interest rates unchanged yesterday.NZD/USD daily chartThe jump higher...
AUD/USD eyes June high next on dollar breakdown
That comes after the softer US CPI data yesterday and with equities sentiment also bolstered by it and tech stocks, we are seeing the aussie and kiwi lead gains in trading today. AUD/USD is up 0.8% to 0.6830-40 levels currently as buyers are eyeing the June high near...
Eurozone May industrial production +0.2% vs +0.3% m/m 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,...
USD/CHF falls through the floor, what’s next?
USD/CHF weekly chartThe dollar destruction this week is also being exemplified in USD/CHF price action, as the pair falls through 0.8800 and breaks the 2021 low of 0.8757 over the past few sessions. That is now taking price to its lowest levels since January 2015,...
USD/JPY drop looks set to continue, key downside levels come into focus
With a technical breakdown in the dollar across multiple charts, this was one of the first few that set it off. The profit-taking initially near 145.00 helped to keep a limit on dollar appetite before a plunge lower took hold and we got a drop below 140.00...
GBP/USD looks to solidify breakout move on the week
GBP/USD weekly chartThey are getting help from the added dollar selling this week, with the greenback now stumbling all across the board after the softer US CPI data yesterday. GBP/USD is now up 0.5% today to 1.3050 levels and a hold above the 1.3000 mark will give...
EUR/USD extends gains as the dollar resigns to its next leg lower
The dollar is finding itself caught in a bad spot all across the board and EUR/USD is one of the main culprits. The pair broke above its April and May highs around 1.1075-95 yesterday and buyers are keeping that run going today.EUR/USD weekly chartThe dollar was...
Kava 14 Accelerates Cosmos Ecosystem Expansion
Kava, a Layer-1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos has launched the Kava 14 upgrade. This upgrade deploys 'internal bridge' technology to seamlessly convert native Cosmos assets to and from Ethereum’s...
Market Update – July 13 – Optimism Prevails
The USDIndex was the only real casualty of the day, especially after the BoC’s expected 25 bp increase and expectations for ECB and BoE tightening. The cooler than projected CPI propelled bonds sharply higher as the markets perceived the upcoming 25 bp rate hike...
Japan top currency diplomat Kanda says closely watching FX market moves
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,...
ECB’s Visco: We are not very far from the peak in interest rates
> Central Banks > ECB's Visco: We are not very far from the peak in interest rates Central Banks Remarks by ECB policymaker, Ignazio Visco <!--> --> Justin Low Thursday, 13/07/2023 | 07:38 GMT-0 13/07/2023 | 07:38 GMT-0 <!--> --> ,...
FX option expiries for 13 July 10am New York cut
There is just one to take note of for the day, as highlighted in bold.And even so, it isn't of too much impact I would say as it pertains to AUD/USD at the 0.6800 mark. The level doesn't hold any technical significance so there isn't much of a pull factor especially...
France June final CPI +4.5% vs +4.5% y/y prelim
HICP +5.3% vs +5.3% y/y prelimNo change to the initial estimates as French annual inflation does show further signs of easing, though the ECB will still feel vindicated to tighten policy further later this month as core inflation remains high in the euro...
UK May monthly GDP -0.1% vs -0.3% m/m expected
Prior +0.2%GDP 0.0% vs -0.1% 3m/3m expectedPrior +0.1%UK GDP marginally declined in the month of May with the details showing no growth in the services sector, followed by a 0.01% drop in construction and 0.08% fall in production during the month. Compared to...