Germany DAX weekly chartThe DAX is now trading up by 1.6% to 16,201 and is closing in on its record highs around 16,285-90 set last year. So far this year, European equities have been the standout performer as we already saw record highs being reached for the CAC 40...
AUD/USD looks resigned to test the March and April lows again
AUD/USD daily chartThe only thing really working in the aussie's favour right now is basically the fact that risk sentiment is still holding more positively in recent sessions. Otherwise, there's a myriad of factors working against the currency right now.The softer...
WTI Crude Oil Technical Analysis
On the daily chart below, we can see that soon after the flash crash into the $64 level, the price of crude oil rebounded strongly and has rallied back to the $73 support now turned resistance. We can see that the first breakout attempt failed, and the price moved...
USD/JPY flirts with key resistance region, 140 being eyed next?
USD/JPY daily chartThis builds on yesterday's post here. As the dollar continues to hold firm, the pair is now testing key resistance around 137.77-91 and may be on the verge of a stronger breakout. The jump up above the 200-day moving average (blue line) yesterday...
ECB’s de Guindos: There is still scope to keep raising rates
But most of the tightening has already been doneSays does not know what the end point is going to beThis just reaffirms the prevailing sentiment towards the ECB right now. There is definitely at least one more rate hike to go but what comes after that might remain a...
European equities off to a good start today in catch up play
Eurostoxx +0.8%Germany DAX +0.9%France CAC 40 +0.8%UK FTSE +0.5%Spain IBEX +0.4%The positive jump sees the DAX open at fresh highs since January and is closing in on its record highs at 16,285-90 at the moment. Looking at the broader picture, the overall mood is more...
Eurostoxx futures +0.5% in early European trading
German DAX futures +0.3%UK FTSE futures +0.5%European equities closed yesterday in a sluggish mood, missing out on the jump in Wall Street later on. As such, the early gains here are in part some catch up to that as overall sentiment remains more tentative so far...
Trade ideas thread – European session 18 May 2023
It's a key moment for the dollar as its recent resilience is being rewarded with a push towards key technical levels.In particular, EUR/USD is now running closer towards the 1.0800 mark with its 100-day moving average at 1.0806 set to be one to watch in the sessions...
FX option expiries for 18 May 10am New York cut
There is just one to take note of, as highlighted in bold.That being for EUR/USD at the 1.0805-20 region, which may add to some downside support for the pair close to the 100-day moving average as well as bids layered near the 1.0800 mark. That will remain the key...
A rather bare calendar day coming in Europe
That will make things simpler as markets will keep the focus on the overall risk mood and technicals instead. But considering it being a holiday in some places in Europe as well, we might be in for a quieter session.The dollar is continuing to keep more resilient,...
The dollar’s resilience should not be understated
At the end of last year, the thinking was that 2023 would be the year of central bank pivots and more importantly the time when the Fed would stop rate hikes. And with a shallow recession predicted, it should've been a time for risk assets to rejoice and the dollar to...
Reminder: It is a holiday in some parts of Europe today
That might make for a bit of a quieter trading session later in the day, with the likes of Germany and France sitting out. That might impact liquidity conditions. However, just be wary that most trading exchanges will remain open today - even for the Xetra and...
Federal Reserve officials Jefferson, Barr, Collins, Logan speaking Thursday, 18 May
09:05 US Eastern time, 1305 GMT: Federal Reserve Board Governor Philip Jefferson speaks on the economic outlook before the National Association of Insurance Commissioners (NAIC) International Insurance Forum, in Washington09:30 US Eastern time, 1330 GMT: Federal...
Bank of England Governor Bailey and Chief Economist Pill on the speaking agenda Thursday
0845 GMT, 04:45 US Eastern time: Bank of England Chief Economist Huw Pill opens a BoE research workshop on macroeconomics and finance0915 GMT: 05:15: Bank of England Governor Andrew Bailey faces questions by parliament's Treasury Committee about the central bank's...
European Central Bank President Lagarde speaking soon, during the European morning
Coming up from the ECB on Thursday, 18 May 2023:02:30 US Eastern time, 0630 GMT: Remarks by ECB Vice President Luis de Guindos at seminar organised by PwC in Madrid05:00 US Eastern time, 0900 GMT: Attendance by ECB President Christine Lagarde at official celebration...
Binance says its suspending AUD fiat services – looking for alternatives
> Cryptocurrency > Binance says its suspending AUD fiat services - looking for alternatives Cryptocurrency <!--> --> <!--> Eamonn Sheridan Thursday, 18/05/2023 | 03:27 GMT-0 18/05/2023 | 03:27 GMT-0 --> Binance Australia tweet:AUD PayID...
Macklem and Rogers from the Bank of Canada will be speaking on Thursday, 18 May 2023
At 1100 US Eastern time, which is 1500 GMT Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers hold a press conference to discuss a detailed review of developments in the financial systemm and an analysis of policy directions in the...
ForexLive Asia-Pacific FX news wrap: AUD lower after job data disappointment
The Australian dollar is the mover on the session. It was marked sharply lower after disappointing labour market data for April was released. Jobs in the economy shrunk while the unemployment rate jumped higher. I should add that unemployment remains near record lows....
China’s sputtering economic recovery “has broader implication for the global economy”
Responses continue to the lacklustre Chinese data released Tuesday:The via analysts at Macquarie:China’s reopening recovery appears to be faltering, which “has broader implications for the global economy” “People have doubts about the sustainability of the U.S.’s...
New Zealand Treasury is no longer forecasting a recession for the country
The New Zealand government budget has been released. Sees 2023/24 GDP 1.0% ( HYEFU -0.3%)Unemployment rate seen at 5.0% in 2023/24 ( HYEFU 5.5%)NZ treasury is no longer forecasting the country to move into recessionNZ government forecast to return to surplus in...