Article by IG Chief Market Analyst Chris BeauchampFTSE 100, DAX 40, Dow Jones Charts and AnalysisFTSE 100 aiming to move above 7600The index managed to push its way above 7600 yesterday but was unable to hold these gains. A reversal below 7540 and the 50-day SMA...
The light optimism begins to fade in equities once again
S&P 500 futuresThings are starting to turn in the equities space now as the selling since the turn of the month continues to stay the course. The turnaround and late dip in Wall Street yesterday certainly did break a lot of the confidence after the US CPI report...
Chia July M2 money supply +10.7% vs +11.0% y/y expected
Prior +11.3%New yuan loans ¥345.9 billion vs ¥800.0 billion expectedPrior ¥3.05 trillionThe slowdown in broad money growth in China continues with new yuan loans also dipping after the huge surge at the end of Q2. Beijing has a tough task in trying to balance out...
Eurozone Inflation Outlook Remains Uncertain
Eurozone inflation may have come down again in July, but as the ECB flagged in its latest economic bulletin, the outlook for inflation remains highly uncertain, as does the outlook for growth. Wage growth remains high, and while longer inflation expectations have...
IEA lowers forecast for oil demand growth for next year
World oil demand hit a record 103 mil bpd in JuneAugust could yet see another peak in demand2024 global oil demand growth forecast revised down to 1 mil bpd (previously 1.15 mil bpd)If OPEC+ current targets are maintained, oil inventories could draw by 2.2 mil bpd in...
Market Update – August 11 – CPI figure results in a rollercoaster day, UK GDP beats, Yen tumbles
Let’s start with the data that just came out this morning: In the UK we had some nice surprises, with GDP (+0.2% q/q vs flat exp., +0.4% y/y vs +0.2% exp.), industrial and manufacturing production beating across the board. The Pound is up and the best performer...
AUD/USD Technical Outlook: Further Pain in Store for the Aussie Dollar?
AUDUSD PRICE, CHARTS AND ANALYSIS: Recommended by Zain Vawda Get Your Free AUD Forecast Get My Guide Most Read: The Reserve Bank of Australia: A Trader’s GuideAUD FUNDAMENTAL BACKDROP, CHINA CONCERNS GROWThe Australian Dollar is attempting to snap a three-day losing...
Tickmill Announces New ‘Trade More, Get More’ Rebate Promotion!
Tickmill, a leading multi-asset broker, introduced its latest rebate campaign, ‘Trade More, Get More’, to reward its clients for their loyalty and efforts. The promotion is designed to offer traders the possibility to make the most of Tickmill’s excellent trading...
FX option expiries for 11 August 10am New York cut
There are a couple to take note of on the day, as highlighted in bold.They are all pertaining to EUR/USD and lie between 1.0950 to 1.1000, so that is likely to keep price action more limited during the session before rolling off later today. It's a quiet on in markets...
Spain July final CPI +2.3% vs +2.3% y/y prelim
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,...
France July final CPI +4.3% vs +4.3% y/y prelim
Prior +4.5%HICP +5.1% vs +5.0% y/y prelimPrior +5.3%This just reaffirms that French inflation pressures are starting to cool but it is still well above the 2% desired target. We'll see if the trend can keep up in the months ahead but for now, the ECB can take heart in...
UK June monthly GDP +0.5% vs +0.2% m/m expected
Prior -0.1%The beat here is helping to carry the Q2 GDP figures as well and looking at the breakdown, services contributed 0.16%, production 0.25%, and construction 0.11% on the month. The improvement in the services sector is a positive at least, after having...
UK Q2 preliminary GDP +0.2% vs 0.0% q/q expected
Prior +0.1%GDP +0.4% vs +0.2% y/y expectedPrior +0.2%The pound is up slightly on the numbers here as the June monthly GDP beat is helping to feed into a more positive Q2 picture overall. As a whole, UK GDP is now estimated to be just 0.2% below its pre-pandemic level...
UK GDP on the agenda for today
Markets are settling down after the volatile movements amid the US CPI data yesterday. The bond market puked and that for me is the key takeaway move, with equities also failing to hold on to gains and reversing lower thereafter. Even if Wall Street did close...
Dollar keeps steady after yesterday’s rebound
And after all the anticipation and action yesterday, we're pretty much back to the drawing board again. The dollar weakened initially after the US CPI report but rebounded strongly and continues to sit in a good spot. USD/JPY in particular is one to note as it is...
Forexlive Asia-pacific FX news wrap 10 Aug: The NZD moves lower after weak PMI data
The end of the week saw little in the way of price action. With Japan on holiday, that certainly did not help the forex market either. The first part of the trading day has the AUD as the strongest of the major currencies, and the NZD as the weakest (see video on the...
How has the Fed pricing changed after the inflation numbers yesterday?
And that probably says a lot more than it should. Once again, the second key hurdle ahead of the FOMC meeting next month just serves to validate the current market pricing more than anything else. That being no more rate hikes for this year and a rate cut to come...
NZDUSD trades toa new low for the week and trades below the 50% midpoint
The NZDUSD is trading to a new low for the week and in doing so to the lowest level since the end of June/beginning of July. The price is also below the 50% midpoint of the move up from the 2022 low to the 2023 high at 0.6024. Stay below is more bearish.The next...
What are the charts telling us for the EURUSD, USDJPY and GBPUSD?
The FOREX markets are quiet in the Asia-Pacific session. Japan is on holiday contributing to the lackluster price action. Yesterday's US CPI data whipped traders around as well as the initial reaction was to the downside in the greenback, and then reversed back to the...
Reuters poll: ECB to hold deposit rate at 3.75% on September 14 say 37 of 70 economists
A poll of 70 economists done by Reuters shows:37 of 70 expect the ECB to hold the deposit rate at 3.75% on September 14In addition a slim majority see ECB deposit rate of 4.0% by the year-endSo near 50% for a hike in September, and near 50% for one more hike by the...