Prior -56.5Outlook -14.7 vs -10.5 expectedPrior -8.5The mood is darkening in the German economy as sentiment continues to deteriorate as seen in the ZEW survey. The economic climate for the months ahead is also seen falling further to its lowest since December last...
How Much Money Do You Need to Trade?
Trading in financial markets can be an exciting and potentially lucrative endeavor. However, one common question that arises is: How much money do you need to trade? The answer to this question depends on various factors, including your trading goals, risk tolerance,...
Gold hopeful in latest upside push today
The yellow metal has struggled in the last two months as price corrects lower but have we found a bottom? The $1,900 mark is where the downside momentum seems to be stalling, with price also hanging on at the 61.8 Fib retracement level at around $1,904:Gold (XAU/USD)...
AUD/USD continues to struggle for upside momentum, for now at least
AUD/USD daily chartA stronger yuan and a better risk mood yesterday doesn't seem to be enough to spark a stronger rebound in AUD/USD, after having bounced off the 0.6600 level twice now in the past few weeks.While the dollar is struggling, the aussie is unable to...
European equities hold higher at the open today
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,...
GBPUSD Technical Analysis – US CPI in Focus
The US NFP last Friday has finally missed expectations for the first time after 14 consecutive beats. The other details in the report though were almost all good and the average hourly earnings ticked higher, which is not what the Fed would want to see. In fact, the...
ECB’s Villeroy: We are close to the peak of interest rates
Once we hit the peak, we will need to stay at that level for a whileWe are starting to have good news on inflationInflation will continue to decline and will be back at 2% by 2025We've heard this all before. In other words, they are still leaving the door open for...
Cable resumes upside push after jobs data
GBP/USD daily chartThe pound is taking heart from the UK labour market report earlier here, with cable now moving up from 1.2870 to 1.2905 on the day. The softness in the dollar is also part of the reason but the latest push in the last 15-20 minutes is definitely...
UK June payrolls change -9k vs 23k prior
Prior 23k; revised to 20kMay ILO unemployment rate 4.0% vs 3.8% expectedPrior 3.8%May employment change 102k vs 125k expectedPrior 250kMay average weekly earnings +6.9% vs +6.8% 3m/y expectedPrior +6.5%; revised to +6.7%May average weekly earnings (ex bonus) +7.3% vs...
Germany June final CPI +6.4% vs +6.4% 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,...
Trade ideas thread – European session 11 July 2023
Are we headed towards the next leg lower in the dollar? Well, there's certainly an argument to be made with EUR/USD testing waters above 1.1000 again and GBP/USD moving up to near 1.2900 - its highest levels since April last year. The former has key resistance at the...
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FX option expiries for 11 July 10am New York cut
There aren't any significant expiries to take note of for the day. As such, trading sentiment will continue to rely more on the technicals and the risk mood before we get to the US CPI data tomorrow.A couple of key ones to watch will be EUR/USD as it begins to run...
Gold Price Firms While US Dollar Eases as Treasury Yields Dip. Where to for XAU/USD?
Gold, XAU/USD, US Dollar, Fed, FOMC, Crude Oil, Fibonacci - Talking PointsGold steadied again today as the US Dollar continued its descentThe Fed continues to signal more hikes, but Treasury yields are lowerWednesday’s US CPI may provide some market volatility. Higher...
UK labour market report on the agenda today
Even with the dollar drop and retreat in Treasury yields yesterday, traders are still convinced of a 25 bps rate hike by the Fed later this month. Fed funds futures are little changed, showing roughly 92% odds of a 25 bps move. And that comes despite markets getting a...
USD/JPY retraces lower as 145.00 rejection holds
USD/JPY daily chartThe pair was dragged down by a weaker dollar and lower bond yields in trading yesterday, as traders are starting to get a sense that the US CPI data this week may be a softer one. That owes to the decline in the used car price index here, which is...
OPEC+ needs to deepen oil output cuts to offset non-OPEC supply growth – JP Morgan
JP Morgan says that the oil cartel will need to deepen output cuts by another 0.7 mil bpd in the second-half of the year, in addition to the announced reductions. That cut will need to be extended into 2024 in order to offset both non-OPEC supply growth and rising...
Reserve Bank of New Zealand meet on Wednesday, 12 July 2023 – preview
The Reserve Bank of New Zealand announcement is due at 2pm NZ time:0200 GMT 12 July 10pm US Eastern time (on the 11th July) Earlier preview here:Via KiwiBank:The RBNZ’s decision this week will capture our attention, if only for a few minutes. Market consensus is...
JP Morgan are forecasting a +25bp Bank of Canada rate hike on Wednesday 12 July 2023
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,...
UK financial regulator shuts down 26 illegal cryptocurrency machines
The UK's Financial Conduct Authority shut down 26 machines across the country for illegally offering cryptocurrencies.The action came after a member of the public paid in a thousand GBP into a crypto ATM in an attempt to buy cryptocurrencies, but no cryptocurrency or...