In the morning kickstart technical view of the EURUSD, USDJPY and GBPUSD, the US dollar is moving higher.EURUSD: The EURUSD is training to the lowest level since July 6 and in the has moved into a swing area between 1.0833 and 1.08485. That area is a key barometer for...
Bonds sellers emerge again in a troubling sign
US 10y yield -10 minsThe bond sellers have showed up again. Yields were lower early with 10s trading at 4.22% but they've risen 5 bps from there and are now nearly flat on the day.This dynamic is increasingly problematic as both stocks and bonds sell off. There's no...
Weekly Market Recap (14-18 August)
Monday:New Zealand Services PMI for July plunges into contraction to the lowest level since January 2022:47.8 vs. 50.1 prior (revised from 49.6).New Zealand Services PMITuesday:Japan Preliminary Q2 GDP beat expectations, but the deflator has also jumped...
Canada July PPI -2.7% y/y vs -5.5% prior
Prior was -5.5%Producer prices m/m +0.4% vs -0.6% priorRaw materials price index -11.1% y/y vs -19.7% priorRaw materials price index+3.5% m/m vs -1.5% priorPPI rose after three months of declines. Prices for energy and petroleum products rose 4.1% month over month, a...
Light economic calendar greets North American traders but plenty to mull
All eyes are on China at the moment as efforts to revive the economy appear to be floundering and the market is losing faith. That's led to risk aversion with S&P 500 futures down 25 points despite Treasury yields down 5-7 bps.In terms of economic data, nothing is...
The JPY is the strongest and the GBP is the weakest as the North American trading begins
The strongest to the weakest of the major currenciesThe JPY is the strongest and the GBP is the weakest as the North American trading begins. The USD is mostly higher (down only versus the JPY) with most of the games coming versus the GBP (+0.31%), CHF (+0.31%) and...
ForexLive European FX news wrap: Yields heavy, risk tones slump
Headlines:Markets:JPY leads, GBP lags on the dayEuropean equities lower; S&P 500 futures down 0.5%US 10-year yields down 5.7 bps to 4.223%Gold up 0.2% to $1,892.90WTI crude down 0.5% to $79.98Bitcoin down 4.2% to $26,479It all started with bonds being more bid as...
Trouble begins to brew for stocks again
Equities are extending losses on the session now with US futures continuing to dribble lower. S&P 500 futures are now down 0.4% with Nasdaq futures down 0.7% and Dow futures down 0.3% on the day.S&P 500 futuresOn the surface, with bond yields tracking lower...
Treasury yields feel heavy towards the end of the week
It looked like the bond market rout was going to extend at some point yesterday but the bulls are putting up quite a bit of fight at the first key test. 10-year Treasury yields hit 4.30%, which is a critical juncture on the charts, and so far that level is holding.In...
USDJPY Technical Analysis – The confirmation of the breakout is key
The Fed is waiting for the totality of the data to be released before deciding what to do at their September meeting. As of now, the data supports the soft-landing narrative as the disinflation in the core measures continues but the strength in the labour market and...
Stock Indices Hit by More China Property Woes
Article by IG Senior Market Analyst Axel RudolphFTSE 100, CAC 40, Nasdaq 100 Analysis and ChartsFTSE 100 drops further as UK retail sales fall by more than expectedThe rout in the FTSE 100 is ongoing as UK retail sales dropped by 1.2% month-on-month in July, worse...
NZDUSD Technical Analysis – The bearish bias is still intact
The Fed is waiting for the totality of the data to be released before deciding what to do at their September meeting. As of now, the data supports the soft-landing narrative as the disinflation in the core measures continues but the strength in the labour market and...
US futures nudge lower on the session
Bear in mind that the selling does tend to intensify in US trading as it has been the case since last week. But already we are seeing some cautious tones in Europe today, with S&P 500 futures and Dow futures both down 0.2% and Nasdaq futures down 0.3%. That is...
Eurozone July final CPI +5.3% vs +5.3% y/y prelim
Prior +5.5%Core CPI +5.5% vs +5.5% y/y prelimPrior +5.5%No changes to the initial estimates and core inflation sticking at 5.5% will make it tricky for the ECB to spin the narrative for a pause in September. But policymakers will interpret it however they wish to and...
AUDUSD Technical Analysis – Watch these levels for further downside
AUDUSD 4 hourThe Fed is waiting for the totality of the data to be released before deciding what to do at their September meeting. As of now, the data supports the soft-landing narrative as the disinflation in the core measures continues but the strength in the labour...
Dollar keeps more mixed so far on the day
The heavier bond yields today isn't quite affecting the dollar so much yet in European morning trade. It's a quiet start for the greenback as it holds more mixed against the major currencies bloc for now.EUR/USD is little changed at 1.0870 levels, stuck in a 28 pips...
Gold hopes to snap losing streak this week but the technical picture remains poor
Gold has fallen in each of the last four days this week and looks set for a fourth straight weekly decline as well. It's not been pretty for gold prices since the middle of last month, upon testing resistance around $1,983. Since then, we've seen price fall back below...
EURUSD Technical Analysis – The pair remains in a “sell on rallies” mode
The Fed is waiting for the totality of the data to be released before deciding what to do at their September meeting. As of now, the data supports the soft-landing narrative as the disinflation in the core measures continues but the strength in the labour market and...
European equities lower at the open today
Eurostoxx -0.4%Germany DAX -0.5%France CAC 40 -0.5%UK FTSE -0.5%Spain IBEX -0.2%The only bright spot is that US futures are keeping flattish and little changed as we get things underway here in Europe. That said, we have seen the heavy selling only hit later on in the...
FX option expiries for 18 August 10am New York cut
There are a couple to take note of on the day, as highlighted in bold.The first being ones for EUR/USD at 1.0850 and 1.0900. Those are likely to keep price action more contained on the session, before rolling off later today. This comes as the downside momentum...