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AUD/USD daily chartThis carries over from yesterday's post here and all the points made then are still very much in play in trading today. The pair is still looking poised to take a run at the April and May highs, with the daily resistance region around 0.6793-00 one...
Last week there was a lot of chatter about the US500 finally rising >20% from the October lows. A 20% price rise is the very definition of a bull market, just as a 20% fall is a bear market. All analysts have pointed this out and the race has also been on to...
Lower Treasury yields and higher equities are also part of the story, as the dollar moves lower in European morning trade. As mentioned earlier here, these markets are all going to be intertwined as we get to the US CPI data later and it is already showing. EUR/USD is...
The recent positive surprise in the non-farm payrolls (NFP) data, followed by concerning factors such as a higher unemployment rate and reduced average weekly hours, has had a detrimental impact on the USD. Market sentiment has shifted towards a less optimistic...
Prior -34.8Economic sentiment -8.5 vs -13.1 expectedPrior -10.7That's a miss on the headline estimate but at least the outlook reading is seen improving slightly, beating expectations of a further deterioration. ZEW notes that experts still do not anticipate an...
Chancer, one of the most exciting new Web3 projects of 2023 has officially launched its crypto presale today, 13th June. The project aims to disrupt the betting industry by removing the ‘house’ from the picture and putting the markets firmly back in the hands of the...
The latest news on job numbers was a mixed bag. While the non-farm payrolls (NFP) beat expectations, we also saw a rise in unemployment and a decrease in average weekly hours. These not-so-great details caused the USD to lose some strength as the market started to...
Prior +12.4%New yuan loans ¥1,360.0 billion vs ¥1,600.0 trillion expectedPrior ¥718.8 billionChina's broad money growth continues to slow further as credit conditions tighten and that will put pressure on Beijing to push forward with more stimulus. New loans are still...
Already a tradition in the financial industry, the UF AWARDS have set the benchmark for excellence. Crowning the merits of some of the most industrious B2B and B2C market players around the world, the awards confer nominees trustworthiness and validation. Establishing...
The package is said to include at least a dozen stimulus measures, encompassing interest rate cuts to support the property sector as well as spur domestic demand. It is reported that a key part of the proposed package is to support the real estate market but the plan...
Prior +4.1%HICP +2.9% vs +2.9% y/y prelimPrior +3.8%The final readings match up with initial estimates but the good news here is that core annual inflation is seen dropping from 6.6% in April to 6.1% in May at least. While still at a relatively high number, it perhaps...
GBP/USD 5 mins chartI outlined some of the details earlier here as to why the report was a rather hawkish one. Essentially, it just bolsters confidence that labour market conditions are holding up despite the economic troubles.There was a bit of a scare last month as...
Prior -135k; revised to 7kApril ILO unemployment rate 3.8% vs 4.0% expectedPrior 3.9%April employment change 250k vs 162k expectedPrior 182kApril average weekly earnings +6.5% vs +6.1% 3m/y expectedPrior +5.8%; revised to +6.1%April average weekly earnings (ex bonus)...
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,...
It's all about the reaction to the US CPI data today and how that will set markets up ahead of the Fed decision tomorrow. Traders are pricing in roughly 80% odds of no change to the Fed funds rate at the moment, so will the inflation numbers vindicate that argument?...
There are a couple to take note of, as highlighted in bold.That being for EUR/USD but they are mostly smaller expiries that sum up to be a decent sized one at the 1.0750-60 and 1.0790-00 levels. And given the fact that the trading focus will largely be on the reaction...
The dollar is marginally lower on the day as market moves to start the week has been relatively minor and choppy. Equities are in a good spot though as the S&P 500 climbed by nearly 1% yesterday, closing the day at its highest levels since April last year. That is...
US CPI year-on-year (%)The April reading last month came in at 4.9% with the core annual estimate coming in 5.3%. This time around, the former is expected to drop to 4.1% in May with the latter falling to 5.3%. That comes despite expectations of a rise in the monthly...
Bank of Spain´s governor, and hence a European Central Bank monetary policy maker on the Bank's Governing Council, Pablo Hernández de Cos is speaking on 13 June 2023:will take part in the “45 años de la Economía Española 1978-2023” event to celebrate the 45th...
ING produce a handy 'chet sheet' ahead of each European Central Bank meeting:ING preview, in brief:expect the ECB to deliver a 25bp rate hike this week and signal more to come. Rates markets are already priced for this outcome, and softening economic data dents the...