I wrote about the rapid shift in investor sentiment last week and now Barron's is out with a bullish cover. That's the kind of thing that makes me wonder if we're about to top out.In addition, a big part of last week's rally in stocks was short covering, which was...
The AUD is the strongest and the CHF is the weakest as the North American session begins
The strongest to the weakest of the major currenciesAs the U.S. markets gear up for the new trading week, the AUD is the strongest of the major currencies while the CHF is the weakest. The USD is trading mixed/to lower to start the trading week. The week will be...
ForexLive European FX news wrap: Dollar marginally lower as markets gear up for big week
Headlines:Markets:AUD leads, GBP lags on the dayEuropean equities slightly higher; S&P 500 futures up 0.3%US 10-year yields up 0.8 bps to 3.753%Gold up 0.1% to $1,962.44WTI crude down 2.4% to $68.50Bitcoin down 1.9% to $25,953It was a quiet session as markets get...
Bitcoin remains in a downtrend
Market pictureAccording to CoinMarketCap, the total capitalisation of the crypto market fell 7.6% over the week to $1.06 trillion, close to lows not seen since almost mid-March. Adding to the market's nervousness was a sharp sell-off in altcoins in light of the SEC's...
USD/CAD takes a look below key trendline support to start the week
USD/CAD daily chartThe pair has heavily respected the key trendline support (white line) from the November and early February lows over the past few months. But sellers are looking to make a play now in pushing below that as we get into what will be a blockbuster week...
Gold at a tricky junction
After touching the $2075 area for the third time since 2020, Gold started to correct and currently trades at $1960, a 5.70% drop from the highs. In the past 2 weeks, support in the $1940 area has held but rebounds have been capped around the $1975 area. The highly...
Betting Against the Odds: Understanding the Unpredictability of Federal Reserve Rate Hikes
Complacency Could Spell Danger. But Also OPPORTUNITY.The Unpredictability of the Federal ReserveThe world of finance is fraught with surprises, and a significant source of these surprises often emanates from the U.S. Federal Reserve. Its decision-making process,...
AUD/USD marches on towards April, May highs
AUD/USD daily chartAUD/USD is up another 0.5% today with the dollar slipping a little in European trading at the moment. If the gains hold, it will mark 8 out of the last 9 days that the pair has posted an advance. That's a solid run on the part of buyers, that sees...
Market Outlook for the Week of 12-16 June
We have a busy week ahead with several key economic events and announcements from central banks.On Tuesday, in the United States the focus will be on the release of the CPI data. In the United Kingdom, BoE Governor Andrew Bailey will address the House of Lords...
Weekly Market Outlook (12-16 June)
UPCOMING EVENTS:Tuesday: UK Jobs, US CPI.Wednesday: US PPI, FOMC Policy Announcement. Thursday: PBOC MLF, ECB Policy Announcement, US Retail Sales, US Jobless Claims.Friday: BoJ Policy Announcement, University of Michigan Consumer Sentiment.Tuesday: The UK...
Equities creep higher to start the session
S&P 500 futures are now up 16 points, or 0.4%, on the day as equities are pushing gains a little to start European morning trade. Regional indices are also gaining added ground after the more positive open, with the DAX now up 1.0% and CAC 40 up 0.8% on the...
SNB total sight deposits w.e. 9 June CHF 509.8 bn vs CHF 519.0 bn prior
Domestic sight deposits CHF 498.3 bn vs CHF 504.5 bn priorThat's the lowest level in Swiss sight deposits since July 2016 as conditions have reverted back to how it was before the whole Credit Suisse fiasco. Here's the look over the past three months:MoneyMaker FX EA...
FX option expiries for 12 June 10am New York cut
There might not be any significant expiries for today but it is a big week and there will be some major ones on the board to be wary of in the days ahead.In particular, keep an eye out for the ones in EUR/USD, especially on Friday, with there being a host of large...
European equities kick start the day on more positive footing
Eurostoxx +0.5%Germany DAX +0.6%France CAC 40 +0.6%UK FTSE +0.3%Spain IBEX +0.5%This follows from the marginal gains by Wall Street at the end of last week, and also a slightly more optimistic start this week - at least for tech stocks. S&P 500 futures are up 0.2%...
BOE’s Haskel: Further rate hikes cannot be ruled out
Important that we lean against the risks of inflation momentumMonitoring indicators of inflation momentum and persistence closelyThe BOE will be meeting next week and currently, a 25 bps rate hike is roughly 83% priced in according to the OIS market.MoneyMaker FX EA...
Plus500 Enhances its OTC Trading Platform with Addition of BAIGUI
Plus500 (LON:PLUS), the leading global multi-asset fintech group, recently added the BITA Artificial Intelligence US Giants Index (BAIGUI) to its array of financial instruments available to customers. Expanding Plus500’s spectrum of sector indices, BAIGUI enhances the...
Trade ideas thread – European session 12 June 2023
It's shaping up to be a quiet day and there might not be much in it until we get to the US CPI data tomorrow at the very least. There are some interesting technical setups in play though, so let's take a look in preparation of the main events this week.USD/CAD holding...
A near empty calendar day coming up in Europe
Major currencies aren't doing a whole lot on the day and it is likely to stay that way until we get to US trading at least. The dollar was a little pressured towards the end of last week but it hasn't really broken down just yet - at least from a technical...
Central banks in the spotlight this week
Given that the ECB is set to raise interest rates by 25 bps and the BOJ is not likely to produce any surprises, the main focus will be on the Fed instead. And it doesn't come any bigger than a debate on whether policymakers will "skip" a meeting or push through with...
Steady as she goes to start the new week
The main focus this week is on central banks as we will have the Fed, ECB, and BOJ all lined up in the days ahead. Not only that, there will be a slew of major economic data on the cards as well but none of which is on the agenda today. As such, we might be in for...