US mortgage applications data:MBA mortgage applications: -0.6% (prior -0.7%)Mortgage market index: 195.6 (prior 196.8)MBA purchase index: 145.6 (prior 145.7)MBA refinancing index: 4536.5 (prior 460.9)MBA 30-year mortgage rate: 6.91% (prior 6.93%)Notes on mortgage...
Quick snapshot of what is priced for major central banks
Below is a handy table that shows what type of interest rate changes are expected for the major central banks over their next few policy decisions.Markets have certainly come a long way in pricing out some of the aggressive cuts we saw at the start of the year.Central...
BofA increase their 2024 wti forecast to $81
BofA has raised their 2024 forecasts for both WTI ($81) and Brent ($86).The bank noted that improvement in demand has been enough to create a deficit in the second and third quarter of 2024.They estimate that the deficit is roughly 450k barrels per day.This is the...
Eurozone flash HICP prints at 2.4% vs expected of 2.6%
Today's Eurozone flash HICP data surprises lower across the board for the YY numbers but a beat for the MM:HICP Flash YY: 2.4% (expected 2.6%)HICP Flash Excluding F&E YY: 3.1% (expected 3.2%)HICP Flash Excluding F,E,A & T YY: 2.9% (expected 3.0%)HICP Flash...
Implied volatility levels for today
Below is a list of the implied volatility daily ranges for various assets.These levels are based on 1-month implied volatility and can be used as dynamic and market-based levels of support and resistance.Implied volatility suggests that if prices were normally...
What is driving gold’s rise?
Gold is often seen as a hedge against inflation, but in 2022, despite favorable conditions, the precious metal performed poorly, to say the least. Although the situation improved somewhat in 2023, it still fell short of the S&P 500 index. As the U.S. moves closer...
A risk to be aware of for dollar bulls with this week’s economic data
The dollar saw a solid upside move following Monday's beat in the ISM manufacturing PMI.As a result many are expecting a similar beat in the ISM services or the NFP to see a similar reaction.Even though that might be true in the very short-term, there is a risk dollar...
Credit Agricole sees EURUSD at 1.05 by 4Q24
Credit Agricole expects EURUSD to hit 1.05 by the end of the year.They based their call on a couple of different drivers:Even though they expect both banks to cut rates in 2024, they think the ECB will ease much more aggressive than the FOMCIf the Fed opts to use QT...
Sentiment remains cautious as we get the session going
Market sentiment remains cautious following yesterday's price action.Cross Asset Tracker- Marginal downside in equities with most major benchmarks still trading close to their lows from yesterday.- All eyes today will once again be on yields where the break of 4.36%...
Focus on ADP employment for the right reasons
The US will release it's March ADP employment report today at 12:15 GMT.ADP is usually released ahead of the NFP jobs report.But it's important to note that ADP has a very bad track record for predicting NFP (as seen below).In recent months, we've seen unpredictable...
ECB Holzmann has no in-principle objection to a June rate cut
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,...
Heads up for eurozone flash CPI data due at 09:00 GMT
Eurozone flash CPI will grab some attention this morning with the next ECB meeting coming up next week Thursday.Below is what markets are expecting from today's print:HICP Flash YY: expected 2.6% (prior 2.6%)HICP Core YY: expected 3.0% (prior 3.1%)Unfortunately the...
Opinion: Buy Mexican Peso. Here’s how to find a simple dip to buy Mexican Peso / USD
A Bullish Beacon in Forex: The Unstoppable Rise of the Peso 📈The Mexican Peso's journey is a bright spot in the Forex markets, proving to be a treasure trove for those with the right strategy and the virtue of patience.Opinion: Mexican Pesos are strong and...
Quick look at today’s economic calendar
Below is a quick look at what events are coming up on the economic calendar today.Today's economic calendar (source: Refinitiv)Even though flash eurozone CPI at 09:00 GMT could get attention, the main event will be the ISM services PMI scheduled at 14:00 GMT.After the...
ForexLive Asia-Pacific FX news wrap: Massive Taiwan earthquake, magnitude 7.7
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,...
China’s Xiaomi begins deliveries of its first EV. Has booked more than 100,000 orders.
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,...
Taiwan authorities say the earthquake has caused 26 building to collapse
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,...
China Caixin Services PMI for March 52.7 (expected 52.7, prior 52.5)
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Sea levels start to drop off the coast Okinawa ahead of a coming tsunami
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,...
Taiwan earthquake revised higher to magnitude 7.7, from 7.5
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,...