Headlines:Markets:AUD leads, JPY lags on the dayEuropean equities higher; S&P 500 futures up 0.5%US 10-year yields down 0.4 bps to 4.003%Gold up 0.3% to $1,921.01WTI crude down 0.5% to $84.00Bitcoin flat at $29,481It was once again another quiet session in Europe,...
A quick glance at the Fed funds futures curve before the main event today
Essentially, not much has changed since the FOMC meeting last month. The Friday jobs report last week has only served to validate prevailing market sentiment and traders didn't see much need to budge from the pricing after the Fed.Considering that inflation data is...
CPI preview and the US500
Today new consumer inflation data awaits with the release of CPI and Core CPI readings for July 2023. The expectation is for a headline y/y number up from last month (+3.3% in July vs. +3% in June) against a slightly lower core one (+4.7% vs. +4.8%). Truly, the reason...
Stocks remain hopeful ahead of US CPI report
Here's a snapshot of things so far today:Eurostoxx +0.8%Germany DAX +0.4%France CAC 40 +0.8%UK FTSE -0.1%S&P 500 futures +0.6%Nasdaq futures +0.7%Dow futures +0.5%It's a solid rebound after dip buyers were dealt a blow late yesterday in US trading. The question...
The big picture story still hasn’t changed
And as the Fed prepares to move to the sidelines, this question now involves how markets view the central bank outlook and if rates are sufficiently restrictive enough to bring inflation back towards the 2% target.For the time being, traders are not pricing in any...
Italy July final CPI +5.9% vs +6.0% y/y prelim
Prior +6.4%HICP +6.3% vs +6.4% y/y prelimPrior +6.7%Just a slight change to the initial estimates but Italian inflation is seen cooling a little more going into the summer. That's some relative comfort for the ECB but these figures are still way too high.MoneyMaker FX...
GBP/USD Hovers at Key Inflection Point Ahead of Inflation and GDP Data
GBP PRICE, CHARTS AND ANALYSIS:GBP/USD Bulls Return as Cable Retests the 1.2750 Mark in Early European Trade.Choppy Price Action May be Down to Seasonality as the US CPI and UK GDP Releases are Sorely Needed to Stoke the Volatility and Provide Direction.Eyes on a...
Dollar loses some ground to start European morning trade
The quieter tones from earlier are starting to break a little, with the dollar now slipping against the major currencies bloc. EUR/USD is up 0.3% to 1.1010 though there are large option expiries likely to keep the pair in check for now. GBP/USD is also up 0.2% to...
European equities open higher to kick start the day
Eurostoxx +0.7%Germany DAX +0.4%France CAC 40 +0.9%UK FTSE +0.1%Spain IBEX +0.7%This mirrors the slight rebound in US futures after the losses in Wall Street yesterday. S&P 500 futures are up 0.5%, Nasdaq futures up 0.6%, and Dow futures up 0.4% at the moment. The...
Not much on the agenda in European trading today
Major currencies are still not showing much appetite outside of the Japanese yen so far this week. The yen currency has fallen in each of the last three days, with USD/JPY rising from below 142.00 to now hit the 144.00 mark - its highest level in a month.In the...
FX option expiries for 10 August 10am New York cut
There are quite a number to take note of for the day, as highlighted in bold.The big ones being for EUR/USD near 1.0900 as well at 1.1000 and just above that. The expiries at around 1.1000-25 is likely to keep any upside in check before rolling off on the day but just...
Forexlive Asia-pacific FX news wrap 9 Aug: The APAC session was about waiting for US CPI
The US CPI is less than 9 hours away. That is the key economic event for the day and for the week. The Asian Pacific session started off the day as if it was just "buying time" until the "Big Event". Looking at the major currency pairs vs the USD, the EURUSD had a...
All eyes on the US CPI report later today
At his press conference last month, Powell highlighted four key economic data reports and today we'll be getting to the second one. And this is perhaps arguably the most important one considering that next month's consumer inflation report will come at a time when we...
USDJPY pushes up against the swing high from last week and highest level since July 7
USDJPY is banging against August highThe USDJPY is pushing against the high price from last week at 143.88. That is also the highest level since July 7. A break above would open the door for a run toward 144.00. Above that traders will start to look toward a swing...
EURJPY pushes against ceiling area. Key area for both buyers and sellers in the pair.
The EURJPY has seen up-and-down price action this week, but the most recent move has been to the upside and in doing so, has the pair retesting a key swing area ceiling between 157.90 and 158.046.Should the price move above that level it would take the pair to the...
AUDUSD sellers in control. Find out why in this technical video analysis.
The AUDUSD sellers are near lows for August and also below a key swing area on the daily chart going back to September 2022. That puts the sellers in firm control. What might tilt the short term bias back to the upside today? Conversely, what would increase the...
Hong Kong’s Hang Seng index to open down -0.6% at 19,125
Hong Kong sent saying an index is expected open down -0.6% at 19,125 points.Looking at some of the other indices:China's Shanghai index is expected open down -0.1% at 3242.21Japan's Nikkei 225 is trading up 0.14%Australia's ASX200 is trading down -0.07%The US E-mini...
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PBOC sets yuan midpoint at 7.1576/dollar vs last close of 7.2114
The Reuters estimate for the yuan midpoint was 7.2023, but the actual midpoint has been set lower at 7.1576/dollar. That compares to the last close at 7.2114. Yesterday there was a similar spread between the estimated midpoint and the actual midpoint set by the...
China’s PBOC expected to set Yuan midpoint at 7.2023 per dollar: Reuters estimate
Yesterday the midpoint was expected at 7.2198 per dollar. The actual was a lot lower at 7.1588. People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint...