S&P 500 futures have pretty much more than halved losses now, being down just 0.4% after having been down a little over 1% earlier in the session.It's been a gradual recovery after a dip in the opening hour of European morning trade. Dip buyers are certainly...
US MBA mortgage applications w.e. 28 July -3.0% vs -1.8% prior
Prior -1.8%Market index 200.7 vs 206.9 priorPurchase index 154.1 vs 159.2 priorRefinance index 433.6 vs 444.5 prior30-year mortgage rate 6.93% vs 6.87% priorUS mortgage applications slumped further in the past week as both purchases and refinancing activity declined...
What is priced in ahead of the BOE policy decision tomorrow?
As inflation continues to be a problem and wages data remain strong, the BOE will have not have much of a choice but to raise the bank rate by another 25 bps this week. The decision tomorrow is pretty much a given but the question will be how much more does the...
AUDUSD Technical Analysis – The bears are looking to sell the rally
The Fed raised rates by 25 bps as expected and kept everything unchanged. Fed Chair Powell didn’t hint to anything and just reaffirmed their data dependency keeping all the options on the table. The data since the FOMC meeting has been support the soft-landing...
AUD/USD at lowest in two months as sellers look to retest lows for the year
AUD/USD daily chartThat marks the lowest level for the pair since 2 June with the latest drop looking to take out the end-June and July low near 0.6600. The fall today owes to a softer risk mood mostly amid safety flows but it has been coming since the middle of last...
USDCAD Technical Analysis – Bullish bias intact but watch out for a pullback
The Fed hiked interest rates by 25 bps as expected and kept everything else unchanged. Fed Chair Powell just reaffirmed their data dependency and kept all the options on the table. The economic data since the FOMC meeting has been supporting the soft-landing narrative...
Equities selloff gathers pace in European morning trade
Here's the latest snapshot:Eurostoxx -1.6%Germany DAX -1.6%France CAC 40 -1.4%UK FTSE -1.8%S&P 500 futures -1.0%Nasdaq futures -1.3%Dow futures -0.8%It's a risk-off wave in markets at the moment and a bid in bonds is also lending to a bid in the Japanese yen....
AUD Price Forecast: US Ratings Downgrade Burns Pro-Growth Aussie
AUD/USD & AUD/NZD ANALYSIS & TALKING POINTSRatings downgrade favors low risk USD.ADP employment change in focus today.Double top neckline breach on daily AUD/USD. Recommended by Warren Venketas Get Your Free AUD Forecast Get My Guide AUSTRALIAN DOLLAR...
GBPUSD Technical Analysis – Key support zone for the Bulls
The Fed hiked interest rates by 25 bps as expected and left everything. Fed Chair Powell didn’t offer any hint on the next move and just reaffirmed their data dependency, keeping all the options on the table. The economic data since the FOMC meeting has been...
USD/JPY pushed lower amid safety flows for now
Most dollar pairs are little changed but USD/JPY is keeping lower today as we are seeing a bid in bonds take place after Fitch cut US' credit rating from AAA to AA+ earlier. That is leading to a slightly more risk-off mood in markets with equities being beaten down...
Switzerland July manufacturing PMI 38.5 vs 44.0 expected
Prior 44.9That's an extremely poor reading as Swiss manufacturing activity slumped heavily to start Q3. The reading is the lowest since April 2009 as production fell sharply alongside purchasing volume. That comes despite a fall in purchase prices and shorter delivery...
Market Update – August 2 – U.S. rating downgraded at Fitch
US stock futures fell Tuesday night after Fitch downgraded the US’s long-term rating to AA+ from AAA Tuesday night, citing ”an erosion of governance and expected fiscal deterioration over the next three years”. The agency called out brinksmanship in...
FX option expiries for 2 August 10am New York cut
There aren't any significant expiries to take note of on the day. As such, trading sentiment will continue to revolve around the risk mood and more so now after the news that Fitch has cut US' credit rating from AAA to AA+. The flight to safety play will be the thing...
달라지는 세법! 세금 줄이는 방법!
https://www.youtube.com/watch?v=DK59abRehFQ 앞으로는 변경된 세금에 대해 잘 모르면 정말 큰 손해를 보게 될 것 같습니다. 반대로 조금만 안다면 돈을 꽤 많이 벌 수도 있겠죠? 오늘은 정부에서 발표한 여러 가지 세법개정안 중에서 일반 국민들의 일상 생활에 직접적인 영향을 주는 중요한 내용들만 골라서 설명드립니다. #세금 #바뀌는정책 #장려금 MoneyMaker FX EA Trading...
European equities marked lower at the open after US credit rating downgrade
Eurostoxx -1.2%Germany DAX -1.2%France CAC 40 -1.2%UK FTSE -0.9%Spain IBEX -1.2%It is a pretty bad open for European indices and the mood isn't helped by a further drop in US futures in the last hour. S&P 500 futures are now down 28 points, or 0.6%, on the day....
Switzerland Q3 consumer confidence -27.1 vs -29.7 prior
Prior -29.7; revised to -29.6There is a decent uptick in the Swiss consumer climate as expectations on the economy in the year ahead improved slightly. However, high prices continue to squeeze households and the above reading is still a far cry from its long-term...
EURUSD Technical Analysis – Last line of defence for the Bulls
Last week, the Fed hiked by 25 bps as widely expected and left everything unchanged. Fed Chair Powell in the press conference just reaffirmed their data dependency and kept all the options on the table. The economic data since the FOMC meeting has been supporting the...
Trade ideas thread – European session 2 August 2023
The big news so far today is that Fitch moved to cut US' credit rating from AAA to AA+ here. It's one for the record books as the last time this happened was 12 years ago. The natural reaction seems to be one of fear with stocks being marked down, but I shared some...
BOJ’s Uchida says may step in before 10-year yields hit 1%, depending on speed of the move
Not thinking of raising 1% cap for 10-year yields target for nowThis is already quite a high ceilingI think the headline was already implied when they did announce it last week but he is just making it clear. As mentioned then, it's all about figuring out the BOJ's...
BOJ’s Uchida: Decision to make YCC flexible not a move towards ending ultra loose policy
If economy, prices remain roughly unchanged, don't expect rates to rise sharplyBOJ will curb excessive rise in long-term ratesDoes not want to comment on day-to-day FX movesBut it is very important for exchange rate to move stably, reflecting fundamentalsThis builds...