The rise in US real yields coupled with a strong US Dollar have been weighing on Gold and we saw the yellow metal breaking the June low threatening a selloff towards the 1805 level. This week we got some bad news first from the PBoC which cut rates by less than...
Stock Indices Rally as Nvidia Reports Stellar Results
Article by IG Senior Market Analyst Axel RudolphFTSE 100, CAC 40, Nasdaq 100 Analysis and ChartsFTSE 100 benefits from risk-on appetiteThe FTSE 100 is on track for a second day of gains as it follows Asian stock indices higher ahead of today’s start of the Jackson...
US data in focus later today
Typically, the weekly jobless claims numbers may not have too much of an impact on markets. But today might be a little different. We've just had a slew of bad economic data from the PMI figures yesterday and if there are any signs that the hit is starting to affect...
Mixed flows so far in European morning trade
It's a quieter and slower start to proceedings even with the more buoyed mood in equities. Not much has changed after the open with European indices still holding decent gains on the day with S&P 500 futures still up by 0.7% and Nasdaq futures up by 1.3%...
Prigozhin’s plane believed to be brought down by Russia’s FSB, says UK defense sources
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,...
Dow Jones Technical Analysis – Watch this resistance
The selloff that started at the beginning of August is starting to show signs of weakness. Although nothing changed fundamentally, the Dow Jones started to range as the market was just probably overstretched. This looks more like a consolidation before another drop as...
FBS Launches an FBS Global Roadshow to Foster Trading Communities Around the World
FBS, a leading global broker, commences an FBS Global Roadshow, as it will support a series of financial industry events in Africa, the Middle East, and Southeast Asia. This initiative aligns with the FBS's commitment to providing traders with the best financial...
How to Get the Best Rates for Your International Transactions
In our modern interconnected world, international transactions have seamlessly woven themselves into the fabric of both personal and business finances. It can be used to send money to a cherished family member overseas or procuring goods from suppliers across...
European indices open higher to kick start the day
Eurostoxx +0.9%Germany DAX +0.9%France CAC 40 +1.0%UK FTSE +0.7%Spain IBEX +0.8%Not to mention that the general equities mood remains more buoyed after Nvidia's earnings beat as well. That said, it is largely tech shares leading the charge today so that isn't a major...
Market Update – August 24 – NVDA posts stellar Q2 results; Stocks, Bonds, Metals rally on eve of Jackson Hole.
Let’s start with NVIDIA that after the close reported results of a stellar Q2 and topped analyst estimates both on Revenues ($13.51 billion vs $11.22 billion expected) and EPS ($2.70 vs $2.09). The company raised its forecast again and expects its Q3 revenues to...
Light changes among major currencies so far
Here's a snapshot of dollar pairs at the moment:It really isn't hinting at much, with EUR/USD itself in a less than 20 pips range so far on the day. The changes are light as we look to get into European trading but just be wary of the prevailing market mood as that...
France August business confidence 99 vs 100 prior
Prior 100Manufacturing confidence 96Prior 100; revised to 101Services confidence 100Prior 102While business confidence is continuing to ease lower, falling back below its long-term average of 100 now, the thing to note in the report is that employment conditions have...
FX option expiries for 24 August 10am New York cut
There are a couple to take note of, as highlighted in bold.The first ones being for EUR/USD with large ones at 1.0800 and 1.0900-10 being the more significant ones I would say. The former sits near key technical levels as supported by price action yesterday while the...
Russell 2000 Technical Analysis – Dead cat bounce or the start of a rally?
The selloff that started at the beginning of August is starting to show signs of weakness. Although nothing changed fundamentally, the Russell 2000 started to rise as the market was just probably overstretched. This looks more like a pullback as the miss in...
China announces suspension of all aquatic products from Japan
In case you were wondering what this relates to, it is due to Japan moving forward with their decision to release the treated radioactive water from the Fukushima power plant into the ocean - which also starts today. The move has received plenty of backlash in the...
Equities buoyed ahead of European trading today
There was certainly much anticipation and for the dip buyers, they would be glad that Nvidia did not disappoint. Tech shares led the way in trading yesterday ahead of the earnings release and they are doing so again now. Here's a snapshot of US futures at the...
“The split between the Fed hawks and doves continues to grow”
An analyst at Brown Brothers Harriman on the split at the Federal Reserve:The split between the Fed hawks and doves continues to grow. By our admittedly unofficial count as of this writing, the doves are comprised of Williams, Harker, Goolsbee, Barkin, and Bostic...
Australian bank CEO says Australia unlikely to enter recession, housing market holding up
CEO of one of Australia's 'big four' banks, National Australia Bank, says Australia is not likely to enter a recession. He cites the housing market having held up more strongly than expected after the Reserve Bank of Australia interest rate rises. NAB, ANZ, CBA and...
ICYMI – Hundreds of ships stuck after Turkey closed Strait due to fires
Bloomberg (gated) had the report that Hundreds of ships were left unable to move between the Black Sea and the Aegean after Turkey closed the Dardanelles Strait to clear the area for planes fighting nearby forest fires.Around 300 vesselsThe Coastal Safety Directorate...
ForexLive Asia-Pacific FX news wrap: Bank of Korea leaves benchmark rate at 3.5%
It was another subdued forex session in Asia today ahead of the speech from Federal Reserve Chair Powell coming on Friday at 10.05 am US Eastern time. News and data flow was basically non-existent relevant to major FX rates. USD/JPY had a minor swing, down in the...