Chancer, one of the most exciting new Web3 projects of 2023 has officially launched its crypto presale today, 13th June. The project aims to disrupt the betting industry by removing the ‘house’ from the picture and putting the markets firmly back in the hands of the...
GBPUSD Technical Analysis – Waiting for a break
The latest news on job numbers was a mixed bag. While the non-farm payrolls (NFP) beat expectations, we also saw a rise in unemployment and a decrease in average weekly hours. These not-so-great details caused the USD to lose some strength as the market started to...
China May M2 money supply +11.6% vs +12.1% y/y expected
Prior +12.4%New yuan loans ¥1,360.0 billion vs ¥1,600.0 trillion expectedPrior ¥718.8 billionChina's broad money growth continues to slow further as credit conditions tighten and that will put pressure on Beijing to push forward with more stimulus. New loans are still...
Voting for the UF AWARDS APAC 2023 Is in Full Swing. Cast Your Vote!
Already a tradition in the financial industry, the UF AWARDS have set the benchmark for excellence. Crowning the merits of some of the most industrious B2B and B2C market players around the world, the awards confer nominees trustworthiness and validation. Establishing...
China reportedly considering broad stimulus package to bolster economic support
The package is said to include at least a dozen stimulus measures, encompassing interest rate cuts to support the property sector as well as spur domestic demand. It is reported that a key part of the proposed package is to support the real estate market but the plan...
Spain May final CPI +3.2% vs +3.2% y/y prelim
Prior +4.1%HICP +2.9% vs +2.9% y/y prelimPrior +3.8%The final readings match up with initial estimates but the good news here is that core annual inflation is seen dropping from 6.6% in April to 6.1% in May at least. While still at a relatively high number, it perhaps...
Sterling gets a lift as UK jobs report vindicates another BOE rate hike
GBP/USD 5 mins chartI outlined some of the details earlier here as to why the report was a rather hawkish one. Essentially, it just bolsters confidence that labour market conditions are holding up despite the economic troubles.There was a bit of a scare last month as...
UK May payrolls change 23k vs -135k prior
Prior -135k; revised to 7kApril ILO unemployment rate 3.8% vs 4.0% expectedPrior 3.9%April employment change 250k vs 162k expectedPrior 182kApril average weekly earnings +6.5% vs +6.1% 3m/y expectedPrior +5.8%; revised to +6.1%April average weekly earnings (ex bonus)...
Germany May final CPI +6.1% vs +6.1% 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 13 June 2023
It's all about the reaction to the US CPI data today and how that will set markets up ahead of the Fed decision tomorrow. Traders are pricing in roughly 80% odds of no change to the Fed funds rate at the moment, so will the inflation numbers vindicate that argument?...
FX option expiries for 13 June 10am New York cut
There are a couple to take note of, as highlighted in bold.That being for EUR/USD but they are mostly smaller expiries that sum up to be a decent sized one at the 1.0750-60 and 1.0790-00 levels. And given the fact that the trading focus will largely be on the reaction...
UK labour market report on the agenda in Europe today
The dollar is marginally lower on the day as market moves to start the week has been relatively minor and choppy. Equities are in a good spot though as the S&P 500 climbed by nearly 1% yesterday, closing the day at its highest levels since April last year. That is...
US CPI the first key hurdle for markets this week
US CPI year-on-year (%)The April reading last month came in at 4.9% with the core annual estimate coming in 5.3%. This time around, the former is expected to drop to 4.1% in May with the latter falling to 5.3%. That comes despite expectations of a rise in the monthly...
Bank of Spain´s governor / ECB monetary policy maker de Cos is speaking Tuesday
Bank of Spain´s governor, and hence a European Central Bank monetary policy maker on the Bank's Governing Council, Pablo Hernández de Cos is speaking on 13 June 2023:will take part in the “45 años de la Economía Española 1978-2023” event to celebrate the 45th...
ECB monetary policy meeting this week – cheat sheet preview
ING produce a handy 'chet sheet' ahead of each European Central Bank meeting:ING preview, in brief:expect the ECB to deliver a 25bp rate hike this week and signal more to come. Rates markets are already priced for this outcome, and softening economic data dents the...
ForexLive Asia-Pacific FX news wrap: People’s Bank of China cuts short-term policy rate
3 reasons the Bank of Japan is expected to keep policy unchanged at this week's meetingCiti says markets mispricing downside risks for inflation heading into the May inflationFormer Dallas Fed Pres Kaplan says FOMC 'hawkish pause' in June, July hike is openNational...
3 reasons the Bank of Japan is expected to keep policy unchanged at this week’s meeting
The Bank of Japan monetary policy meeting is on Thursday and Friday this week. The 15th and 16th of June. The statement will be Friday, most likely in the 0230 to 0330 GMT time window (there is no firmly scheduled time or the BOJ announcement). This is from 10.30 to...
Citi says markets mispricing downside risks for inflation heading into the May inflation
Bloomberg (gated) convey the info from a Citi note saying “We do not think markets have been adequately pricing downside risks for inflation heading into the May inflation release,”like five months ago, the market is coming off two consecutive lower-than-forecast CPI...
Positive start to the week as US CPI looms: Gold, Straits Times Index, Brent crude
Market RecapWall Street delivered yet another positive start to the new trading week (DJIA +0.56%; S&P 500 +0.93%; Nasdaq +1.53%), with strength in rate-sensitive tech reflecting some confidence that the Federal Reserve’s (Fed) tightening cycle will be heading...
Former Dallas Fed Pres Kaplan says FOMC ‘hawkish pause’ in June, July hike is open
Robert Kaplan was President of the Dallas Federal Reserve branch. He resigned in September 2021 amidst a trading controversy.However, he was the first Fed official to call for tightening, well before his then colleagues and he was entirely correct. Kaplan was...