Prior 50.52k; revised to 51.14kNet consumer credit £1.7 billion vs £1.3 billion expectedPrior £1.1 billionOf note, the net borrowing of consumer credit by individuals rose to its highest since April 2018. The breakdown shows that the borrowing on credit cards remained...
We are not living in a 0 rates world anymore, have you noticed?
Well, of course someone has noticed: first of all, the borrowers of variable-rate mortgages who have seen their repayments skyrocket, or those who would like to apply for a new one or refinance their old one. In the US the official mortgage rate has reached 7.09%, in...
SNB total sight deposits w.e. 28 July CHF 490.1 bn vs CHF 489.3 bn prior
Domestic sight deposits CHF 479.3 bn vs CHF 478.5 bn priorAfter the banking crisis towards the end of Q1, SNB sight deposits have pretty much resumed the downwards trend as the central bank continues to make sure its policy settings is being transmitted accordingly. A...
Italy Q2 preliminary GDP -0.3% vs 0.0% q/q expected
Prior +0.6%That's a miss on estimates and is not a good look for the Italian economy, with Q3 struggles set to intensify. If the PMI data in Europe shows no signs of improvement in the next two months, we could be staring at a technical recession in Italy.MoneyMaker...
GBP Price Forecast: Pound Readies for BoE
POUND STERLING ANALYSIS & TALKING POINTSBoE expected to hike by 25bps this week.Key EZ and US economic data scheduled with eurozone flash GDO and core inflation in focus today.Current momentum favors neither bulls nor bears. Recommended by Warren Venketas Get Your...
USD/JPY at three-week highs as buyers look for further upside
USD/JPY daily chartThe pair is now trading at the highs for the day with gains stretching to roughly 100 pips. The levels above 142.00 are the highest since 10 July and if buyers can keep that up ahead of the daily close, it will open up the path towards 145.00 next...
Russell 2000 Technical Analysis – Watch this level for the next big move
The Fed hiked interest rates by 25 bps as expected and kept everything unchanged. This outcome was already baked in, and the market was more interested on possible hints from Fed Chair Powell regarding the next policy moves. Unfortunately, Powell didn’t offer much as...
FX option expiries for 31 July 10am New York cut
There are just a couple to take note of, as highlighted in bold.The first being for EUR/USD at 1.1000, so that could keep price action a little more sticky just in and around the figure level during the session ahead. The pair is observing a narrow range so far today,...
European equities keep a touch lower at the open today
Eurostoxx -0.1%Germany DAX -0.2%France CAC 40 -0.1%UK FTSE -0.1%Spain IBEX -0.2%It's just a marginal dent as compared to the gains from last week and this month in particular for European stocks. US futures are also just marginally lower with S&P 500 futures down...
Market Outlook for the Week of 31 July – 4 August
The past week was eventful, marked by the Fed raising interest rates by 25bps, as expected. The post-meeting comments stressed a data-dependent approach to future decisions but avoided more details about future hikes. On Friday, the BoJ kept monetary policy unchanged...
S&P 500 Technical Analysis – “Make it or Break it” moment for the Market
Last week, the Fed hiked the interest rates by 25 bps as widely expected. The market was more focused on the Fed Chair Powell’s press conference for signals on the future moves. Unfortunately, Powell didn’t offer anything for the market as he kept all the options on...
Germany June import price index -1.6% vs -0.7% m/m expected
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,...
Germany June retail sales -0.8% vs +0.2% m/m expected
> Germany June retail sales -0.8% vs +0.2% m/m expected Latest data released by Destatis - 31 July 2023 <!--> Justin Low Monday, 31/07/2023 | 06:00 GMT-0 31/07/2023 | 06:00 GMT-0 --> <!--> Prior +0.4% ADVERTISEMENT - CONTINUE READING BELOW -->...
Trade ideas thread – European session 31 July 2023
And just like that, we're at the end of yet another month. After all the action last week, let's see how major currencies have performed as of today with the dollar used as a benchmark:EUR +0.9%JPY +1.6%GBP +1.2%CHF +2.6%CAD +0.1%AUD +0.3%NZD +0.9%If you discount the...
Core inflation likely to gradually slow towards year-end – BOJ quarterly report
Japan's economy is likely to continue recovering moderately for the time beingThe rate of increase in CPI is likely to decelerateBut it is projected to accelerate again moderately as the output gap improves and as medium- to long-term inflation expectations and wage...
Japan July consumer confidence index 37.1 vs 36.2 prior
That's another improvement in Japan consumer morale and that's a positive sign for the economy at least even as we head into Q3. Price expectations continue to decrease, with 92.8% of households expecting prices to be higher for the year ahead - down 0.4% from...
Eurozone inflation on the agenda today in the session ahead
After the BOJ on Friday, the Japanese yen continues to be the number one focus in the currency market at the moment. It is once again lower today with USD/JPY up 0.5% to 141.85 currently and nearing the 21 July high at 141.95. I shared some thoughts on that earlier...
The Japanese yen still has that post-BOJ hangover
The pair is up another 0.4% today to 141.70 levels as buyers are returning to retest the 21 July high at 141.95 currently. A break above that and the 142.00 mark will set the pair up for a run back towards 145.00 potentially next.USD/JPY daily chartAfter plenty of...
Goldman, Morgan Stanley say BOJ’s latest move will boost Japanese stocks
Bloomberg (gated) have the comments from Morgan Stanley and Goldman Sachs. Morgan Stanley say:Opportunities in Japanese equities are “now even clearer” the BOJ adjustment on Friday to allow the yield on 10-year bonds to trade as high as 1% has “successfully added...
Weekend – China’s biggest cities said they’d introduce measures to boost property sector
Reuters reporting on weekend comments out of China.China's biggest cities including Beijing and Shenzhen said over the weekend: Beijing's housing ministry said it would take into account the city's real estate situation and work with relevant departments to implement...