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The strong US data in the past months and the quick rise in Treasury yields and the US Dollar weighed a lot on Gold, which threatened at some point a complete breakdown. Recently, we started to see a turnaround in the data beginning with the miss in the US PMIs last...
Data shows that inflation is still persistentWe are not yet at the highest level for ratesAnother one or two rate hikes is still possibleThere's no uniform message from the ECB as of late and this latest round of remarks by Holzmann is but another testament to that....
In trying to retain their dollar earnings as the yuan stumbles, Chinese exporters are resorting to using currency swaps to manage that. According to China's FX regulator, domestic firms swapped a record $31.5 billion for yuan with banks in the onshore forward market...
“September is the worst month of the year for Equities, period; median return for 500 since 1928 is -1.56% “. This was the warning from the Goldman Sachs research department a few days ago after a difficult month for stock indices. To be fair, the...
This comes after the Eurozone inflation data shows that core annual inflation met estimates in August at 5.3% year-on-year and that is slightly softer than the 5.5% year-on-year reading in July. That is seeing traders pare ECB rate hike bets to roughly 30% now and it...
> Eurozone July unemployment rate 6.4% vs 6.4% expected Latest data released by Eurostat - 31 August 2023 <!--> Justin Low Thursday, 31/08/2023 | 09:00 GMT-0 31/08/2023 | 09:00 GMT-0 --> <!--> Prior 6.4% ADVERTISEMENT - CONTINUE READING BELOW -->...
Prior +5.3%Core CPI +5.3% vs +5.3% y/y expectedPrior +5.5%The good news for the ECB here is that core inflation met estimates in August and is seen easing slightly from July. But it is still holding higher close to the peak of 5.7% in February. The euro is slipping...
It certainly is an ambitious goal and one that will at least help boost the wage dynamics in Japan, which have been rather depressed over the last two decades. For some context, in 2022, minimum wages in Japan averaged to around ¥961 per hour and that already...
Join Senior Market Strategist & Trading Mentor Duncan Cooper as he watches price levels on the GBPUSD daily and 4-hour charts.Price has rallied back to the 79% fib retracement level of the daily range.1.2745 the 79% fib retracement level.Watching for price to...
Join Senior Market Strategist & Trading Mentor Duncan Cooper as he watches price levels on the AUDUSD daily and 15-minute charts.Price has rallied back to the 0.6500 level.0.6490 - 0.6500 the daily resistance level and the Figure.Watching for price to rally and...
This first half of the week was highlighted by big misses in the US economic data like Job Openings, Consumer Confidence and ADP. These might be the first signs that a recession is indeed on the horizon as the labour market is starting to show weakness. In fact, the...
USD: Price action highlights potential for turnaroundAfter reaching a low of 4.73% on August 10th, the UST 2-year note yield has steadily climbed, hitting a peak of 5.10% on the following Monday. This translates to a 37-basis point increase in the 2-year yield over...
It is being reported by Reuters that China's major state-owned banks were seen swapping yuan for US dollars in the forward market and then selling those dollars in the spot market today. This has been an ongoing thing all through August trading and it isn't too...
Kwakol Markets is a multi-asset broker that operates globally, with its headquarters based in Nigeria. The company offers a comprehensive range of financial products and services to traders from all around the world seeking to access a diverse range of markets and...
Prior -4kUnemployment rate 5.7% vs 5.7% expectedPrior 5.6%German unemployment rose more than expected in August, albeit slightly. The number of people out of work increased by ~18k to 2.63 million with the jobless rate ticking a little higher to 5.7% on the month. I'd...
We need to see the job through on inflationWe need to ensure we do enough on policyBut there is the possibility of doing too much in the fight against inflationPolicy needs to be sufficiently restrictive for long enoughFor the BOE, they need to be wary about the...
It nudged up to a high of around ~60% earlier after the French inflation numbers but was quickly dragged back down and Schnabel's indecisive comments here are also not really helping with confidence about another rate hike. It's a volatile one to start the day but at...
Inflation is still too highWe should be cautious, patient, resolutePolicy is restrictive enough to bring inflation to 2% in a reasonable timeframeI am not for easing policy any time soonShould inflation unexpectedly climb, I would support more tighteningHe doesn't...
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,...
Eurostoxx -0.1%Germany DAX +0.1%France CAC 40 -0.1%UK FTSE -0.1%Spain IBEX +0.1%This comes as US futures are also little changed on the day but there is some back and forth action on ECB pricing. Despite the hotter French inflation numbers here, we are actually seeing...