Eurostoxx flatGermany DAX +0.2%France CAC 40 flatUK FTSE +0.3%Spain IBEX +0.1%Looking over to US futures, S&P 500 futures are down 0.1% with tech shares weighing. Nasdaq futures are down 0.3% while Dow futures are up 0.1% as overall sentiment remains more on the...
Switzerland May CPI +2.2% vs +2.2% y/y expected
Prior +2.6%Core CPI +1.9% y/yPrior +2.2%The good news here is that both headline and core annual inflation are seen falling last month, consistent with the trend that we also saw in the euro area region. On a monthly basis, consumer price inflation is seen increasing...
Morgan Stanley expects ECB to end rate hikes in July
That means two more rate hikes to go i.e. a 25 bps move in June and a similar one in July. That is consistent with the current market pricing, with a peak rate of 3.70% being priced in now.A move in June and then July seems to be what policymakers are clearly hinting...
Germany April trade balance €18.4 billion vs €16.0 billion 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,...
Harnessing the regression channel for predictive power: Unraveling future S&P 500 prices
The importance of price movement dynamicsUnderstanding the dynamics of price movements in financial markets is a must for every trader. With the right tools, this process can be more straightforward and effective. A well-known tool for this is the Regression Channel,...
FX option expiries for 5 June 10am New York cut
There aren't any particularly large ones to take note of for today.However, there are some decent sized ones for EUR/USD and USD/CAD near the current spot levels. That said, they shouldn't factor in too much given the lack of technical significance. As such, that...
PMI data on the agenda in Europe today
So, the dollar managed to regain its mojo again at the end of last week. In my view, that was a bit surprising given the reaction in equities and considering the backdrop heading into the US non-farm payrolls. But it seems like the bond market has other ideas and...
Major currencies little changed ahead of European trading
The reaction to the US non-farm payrolls report on Friday was a bit of a tough one to figure out. The dollar reacted initially as you thought it would. The kneejerk gains evaporated all before a second wave of bids helped to pull the currency up alongside higher...
European Central Bank President Lagarde and Council member Wunsch are speaking Monday
Coming up from the ECB today. 1300 GMT / 0900 US Eastern time: Introductory statement by Lagarde at the Hearing before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Brussels1515 GMT / 1115 US Eastern time: Belgian central bank...
‘Mystery trader’ made US$7.5 million on a suspiciously-timed trade on US debt ceiling
Bloomberg (gated) shone a light onto a USD7.5mn option trade profit.In brief:As part of the US debt ceiling deal, one concession that made it into the bill was the approval of the Mountain Valley Pipeline, a pet project of West Virginia Sen. Joe Manchin that had been...
Despite the Federal Reserve ‘blackout’ Cleveland’s Mester is on the speaking agenda Monday
The blackout has started, there should be no Fed-speak now ahead of the June 14 statement, this from Friday:But ... due at 1730 GMT, which is 13:30 us et I have Federal Reserve Bank of Cleveland President Loretta Mester scheduled to give "brief remarks" before the...
ForexLive Asia-Pacific FX news wrap: Oil price higher after Saudis announce output cut
Saudi Arabia will make a further voluntary oil production cut in July, by 1 million barrels/day. The drop in output is only for one month, but the country’s energy minister said it could be extended. OPEC+ cuts to output already made that were to last until the end of...
Analyst responses to Saudi oil output cut: ANZ maintains its year-end $100 Brent forecast
The news ICYMI:Goldman Sachs response, analysts there have a $95 forecast for December this year:ANZ:says the potential for a sharp oil price rally has risen sharplyanalysts at the bank are maintaining their year-end target of $100 a barrel for Brentadd that gains in...
Japan’s Matsuno says monitoring impact of Saudi oil output cut on economy
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,...
Crude Oil Price Jumps Again after OPEC+ Announced Production Cuts. Higher WTI?
Crude Oil, OPEC+, WTI, US Dollar, US Jobs Data, Saudi Arabia, Russia – Talking PointsCrude oil leapt to higher ground after the OPEC+ declared a production cutThe June OPEC+ meeting delivered a price reaction that had been foretoldThe US Dollar might weigh on oil if...
China Caixin / S&P Global non-manufacturing PMI for May: 57.1 (vs. expected 55.2)
China Caixin / S&P Global PMIs for May:Services a solid beat at 57.1, fifth consecutive month of expansionexpected 55.2prior 56.4Composite 55.6prior 53.6In brief from the report:Both services supply and demand expanded furthergauges for business activity and total...
Australian Q1 data: Business Inventories +1.2% q/q (expected +0.5% q/q, prior -0.2%)
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,...
PBOC sets USD/ CNY reference rate for today at 7.0904 (vs. estimate at 7.0918)
People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading...
Australian private survey inflation gauge for May headline is 0.9% m/m vs. 0.2% prior
TD/Melbourne Institute Inflation gauge +0.9% m/mthis is the largest m/m jump since January this year prior +0.2% +5.9% y/yprior +6.1%Trimmed mean 0.8% m/m and 5.2% y/yprior 0.3% m/m and 5.5% y/yUh-oh. The Reserve Bank of Australia meeting is tomorrow. While consensus...
Japan Jibun / S&P Global Services PMI for May: 55.9 (prior 56.3)
Japan PMI's for May (final)Services 55.9, a record high for this indicatorpreliminary 56.3 was higher but this has been trimmed in the final results prior 55.4Service sector firms hired more staff for the fourth month in a row. The rate of job creation the second...