Bank of Spain´s governor, and hence a European Central Bank monetary policy maker on the Bank's Governing Council, Pablo Hernández de Cos spoke at event in Barcelona on Monday.His main points made re policy:"The process of tightening our monetary policy is well...
Forexlive Americas FX news wrap: USD/JPY regains ground in holiday-thinned trade
Markets:AUD leads, EUR lagsWTI crude oil up 37-cents to $73.04US bond market closedUS equities closedCanada TSX Comp +0.3%Gold down $3 to $1942It was a holiday in the US and UK so it was predictably quiet, especially after Europe went home.Selling the dollar was the...
China declined a US request to meet with Secretary of Defense Lloyd Austin
The US requested a meeting in Singapore. Secretary of Defense Lloyd Austin wanted to meet with his Chinese counterparts this week. China said "Nope"The Pentagon's response is that the refusal is 'concerning'. -Last week the two Commerce ministers met. There are...
Economic calendar in Asia – Tuesday, 30 May 2023
There is not a lot on the data agenda to move around FX too much. This snapshot from the ForexLive economic data calendar, access it here. The times in the left-most column are GMT. The numbers in the right-most column are the 'prior' (previous month/quarter as the...
Trade ideas thread – Tuesday, 30 May 2023
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,...
Oil bounces back to settle modestly higher
Oil sank earlier, dragging the Canadian dollar with it but it's since bounced back into positive territory. It started strong and rose to a high of $73.55 then faded all the way to $72.04 in early North American trade. However int he past few hours it trended higher...
Bank of America looks at the historical success rates of well-known technical indicators
Dollar index with the 50 day and 200 day moving averagesBank of America (BofA) has shared insights into 8technical strategies based on historical performance data, revealing a variety of potential investment patterns. Key findings include:Golden Cross: This event,...
European equity close: Moderate softening with Italy lagging
With the UK and US closed it was a bit quieter but the main thrust of trading was a 'sell the fact' on the US debt ceiling and ongoing economic concerns.Stoxx 600 -0.1%German DAX -0.2%French CAC -0.3%Italy MIB -0.4%Spain IBEX -0.1%The gap higher in the DAX at the...
Week Ahead: US jobs report, US ISM, China PMI; inflation data from EZ and AUS
MON: US Memorial Day, UK Late May Bank Holiday.TUE: Japanese Labour Market Report (Apr), EZ Sentiment Survey (May).WED: Japanese Retail Sales (Apr), Chinese Official PMIs (May), Australian CPI (Apr), French, Italian, German Prelim CPI (May), German Unemployment (May),...
Canadian dollar slides alongside oil
Oil started the week higher on the debt ceiling deal and signs of strong Asia imports but it's since turned negative. The slide in oil has spilled into Canadian dollar trading, despite thin market conditions due to the US holiday. That's led to a rise in USD/CAD to...
Erdogan Wins Runoff Election as USD/TRY Rises Above Psychological 20.0000 Level
TURKEY RUNOFF ELECTION RESULTS, USD/TRY: Trade Smarter - Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter READ MORE: EUR/USD, GBP/USD Eyeing Recovery on Low Liquidity Monday Following US...
US and holidays put a damper on trading. USD/JPY lower
The debt ceiling agreement led to a brief flurry of trading early in the day but much of that has now faded. It is surprising to see USD/JPY 35 pips lower because the flood of Treasury issuance should presumably push yields higher but that may already have been priced...
ForexLive European FX news wrap: Markets subdued in holiday trading
Headlines:Markets:AUD leads, EUR lags on the dayEuropean equities slightly lower; S&P 500 futures up 0.2%Gold down 0.1% to $1,945.17WTI crude down 0.2% to $72.51Bitcoin up 4.2% to $27,885It was a quiet session in Europe as it is a bank holiday and UK markets are...
Spain prime minister Sánchez calls for snap election in July
It is a bit of a surprise announcement as the general election would already be due in December. The Sunday votes were a bit of a litmus test for Sánchez and the outcome was a resounding failure for him as the conservative People's party saw massive gains across the...
Bitcoin Technical Analysis and Trade Idea
Are you ready to delve into the world of Bitcoin trading? In this Bitcoin technical analysis and trade idea for May 29, 2023, I will provide you with valuable insights into the current market conditions. By exploring the upward channel and volume profile, we will help...
A negative US30 and the differences between sectors
At last Friday’s close, the DJ Industrial (US30) was negative on the year, despite its strong performance to close the week. As of 30 December 2022 it had closed at 33,147, about 0.16% higher than the last trading session (33,093). In comparison, the SP500 is up...
Heads up: US non-farm payrolls to be released later this week
US non-farm payrollsThe data will be one to validate or invalidate the prevailing market sentiment, and that is currently one where traders are walking back on dovish Fed expectations since the banking crisis. As you can see from the pricing in the Fed funds futures...
FX Majors Weekly Outlook (29-02 June)
UPCOMING EVENTS:Monday: US Memorial Day.Wednesday: US Job Openings.Thursday: Eurozone CPI, US Jobless Claims, ISM Manufacturing PMI.Friday: US NFP.Wednesday: Recently US Job Openings missed expectations and caused a dovish reaction in the markets. The market now is...
Europe looks to inflation data again later this week
Eurozone CPI year-on-year (%)Now that markets can put behind them the US debt ceiling issue, the focus will start to turn back towards the balance between inflation, central banks, and the economic outlook.For Europe, it will be more about the inflation outlook again...
Dollar mildly lower as we get into holiday-thin trading in Europe
The dollar is mildly lower to start the new day but just be mindful about reading into the market moves today. My personal view is that one shouldn't read too much into any moves on a day like today.For one, we're faced with thin liquidity amid bank holidays in Europe...