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,...
How Christine Lagarde could steal the show at Jackson Hole
All the talk this week has been about Powell's speech at Jackson Hole but the agenda for the symposium was released late yesterday and it includes a speech from ECB President Christine Lagarde.Powell speaks at 10:05 am ET and she's much later at 3 pm ET and speaking...
Canada prelim July wholesale sales +1.4%
"The increase reflects higher sales in the motor vehicle and motor vehicle parts and accessories subsector and the building material and supplies subsector," Statistics Canada said.Farm products (excluding oilseed and grain): 0.0% Food, beverage and tobacco products:...
The AUD is the strongest and the CHF is the weakest as a North American traders enter
The strongest to the weakest of the major currenciesThe AUD is the strongest and the CHF is the weakest as the North American session begins. The US dollar is mixed with modest gains versus the EUR, JPY, CHF and NZD, and modest declines or is the GBP, CAD, and AUD....
ForexLive European FX news wrap: Tentative mood as stocks keep steady for now, Powell eyed
Headlines:Markets:USD mixedEuropean equities higher; S&P 500 futures up 0.2%US 10-year yields up 1 bps to 4.245%Gold down 0.1% to $1,916.18WTI crude up 1.2% to $80.02Bitcoin up 0.3% to $26,092It was a quiet session in terms of headlines as markets are waiting on...
Dollar gains ease ahead of North America trading
It was mostly the euro and pound which were pressured lower against the dollar earlier. But we are seeing both currencies turn back to near flat levels on the day now with EUR/USD back up to 1.0800 and GBP/USD up to just above the 1.2600 mark. Here's a snapshot of...
Michael Jordan: From courts to billions – an undeniable journey of success!
Man, oh man! As someone who's watched the NBA for decades, I've had my fair share of debates. The typical 'Kobe or Mike?' or 'LeBron or Mike?' - and every single time, I've said, "MJ all the way!". And now, just to add a little more icing on the cake, Mike is now...
BRICS Summit Unveils Game-Changing Shifts: Charting New Waters for Global Dynamics
The echoes of the recent BRICS summit resonate with significance, promising to cast ripples across the market’s landscape. As the curtains fall, let’s unpack the main takeaways that hold the potential to reshape market dynamics in profound ways. In a bold...
ECB Pause More Likely – Eyes on Lagarde
Inflation is coming down on both sides of the channel, but while headline rates are dropping thanks to base effects, services price inflation in particular looks sticky. In Europe, the August flash HCOB PMI reports were a huge negative surprise, with the plunge in...
A look at the Fed pricing ahead of Jackson Hole later today
And arguably rightly so. Given the data that we have seen in the past few weeks, there is no imminent suggestion that another rate hike is needed. But considering the robustness of the US economy, we have seen firmer pricing down the road in terms of the rate path...
Germany August Ifo business climate index 85.7 vs 86.7 expected
Prior 87.3; revised to 87.4Outlook 82.6 vs 83.8 expectedPrior 83.5; revised to 83.6Current conditions 89.0 vs 90.0 expectedPrior 91.3; revised to 91.4It's a fall across the board as the German economy stutters with the services sector also now faltering after the...
Market Update – August 25 – Powell at Jackson Hole, inflation mission not accomplished yet
US equity markets pulled back strongly yesterday with US30 having its worst day since March, US100 its second worst in August and US500 swinging down $105 from the daily high to the daily low and drawing a big bearish engulfing pattern. The mighty NVDA started trading...
A more cautious mood for stocks as European trading gets underway
Eurostoxx -0.1%Germany DAX -0.1%France CAC 40 flatUK FTSE +0.2%Spain IBEX -0.1%This mirrors the more tepid mood in US futures as well, as equities are perhaps waiting on Wall Street for the next move again. S&P 500 futures are up 0.1% but it's not indicative of...
China reportedly plans to cut stamp duty on stock trading in bid to recover sentiment
It's been an extremely rough last few weeks for Chinese equities as the dominoes appear to be falling in the property sector. It is now being reported that China is planning to try and provide some help with authorities looking to cut the stamp duty on domestic stock...
USDCAD Technical Analysis – Watch out for this reversal risk
US:The Fed hiked by 25 bps as expected and kept everything unchanged.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.The US economic data keeps on surprising to the upside, but inflation expectations and CPI readings continue to...
FX option expiries for 25 August 10am New York cut
It's a quiet one on the expiries board, with not really any significant ones to take note of for the day.There is a large one for EUR/USD at 1.0825 which isn't too far away. However, the 1.0800 level and 200-day moving average at 1.0802 remains the more important...
GBPUSD Technical Analysis – The break of the range is a bearish signal
US:The Fed hiked by 25 bps as expected and kept everything unchanged.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.The US economic data keeps on surprising to the upside, but inflation expectations and CPI readings continue to...
Germany Q2 final GDP 0.0% vs 0.0% q/q prelim
GDP (non-seasonally adjusted) -0.6% vs -0.6% y/y prelimGDP (seasonally adjusted) -0.2% vs -0.2% y/y prelimNo changes to the initial estimates as the German economy is seen stagnating in Q2. Given what we're seeing with the numbers so far until August, it is safe to...
Germany Ifo business survey the highlight of the agenda in Europe today
The dollar is looking pretty ahead of European trading, after the ugly reversal in equities yesterday. It's one of those times when market confidence is shaken and sentiment right now is extremely fragile. Whatever case that dip buyers had before the plunge yesterday...
Dollar looking comfortable after ugly equities reversal yesterday
It truly turned out to be a case of buy the rumour, sell the fact when it came to Nvidia earnings. Tech shares were routed once we got to US trading yesterday and dip buyers were scorched. Nasdaq futures were up over 1% in European morning trade but the index ended...