If you need a refresher, the total rate cuts priced in for the ECB this year at the end of December was 161 bps. Right now, it is standing at just 96 bps after the PMI data today. What a difference two months make, eh?Meanwhile, the odds of an April rate cut have...
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UK February flash services PMI 54.3 vs 54.1 expected
Prior 54.3Manufacturing PMI 47.1 vs 47.5 expectedPrior 47.0Composite PMI 53.3 vs 52.9 expectedPrior 52.9This should allay any recession fears about the UK economy to start the new year at least. Demand conditions continue to show an improvement but inflationary...
Market Recap – A Wider Uplift In Confidence Boosts Global Futures
Economic Indicators & Central Banks: Treasuries finished with losses on Wednesday, reversing Tuesday’s gains. The FOMC minutes did not provide any new information on the policy front, though did underscore what was already known, that peak rates have likely...
Eurozone February flash services PMI 50.0 vs 48.8 expected
Prior 48.4Manufacturing PMI 46.1 vs 47.0 expectedPrior 46.6Composite PMI 48.9 vs 48.5 expectedPrior 47.9The downturn in the services sector has stabilised in the euro area but is offset but a continued decline in manufacturing conditions. The main drag is none other...
In-Depth Analysis – AUDUSD – Investors Expect Fed to Cut First!
AUDUSD – Economists Do Not Expect the RBA to Cut Until 2024’s Third Quarter. The Aussie Dollar increases 0.67% and sees its strongest gain this week so far. The exchange rate trades at its highest price since February 2nd. The FOMC’s Meeting Minutes indicate the...
Germany February flash manufacturing PMI 42.3 vs 46.1 expected
Prior 45.5Services PMI 48.2 vs 48.0 expectedPrior 47.7Composite PMI 46.1 vs 47.5 expectedPrior 47.0Oh, dear. This runs back the optimism from the French PMI data earlier. But at least the services sector continues to show signs of an improvement, so there is some...
EUR/USD extends gains after French PMI data beat
The pair is now up 0.6% to 1.0880 levels as buyers will have more confidence in the break of the 200-day moving average (blue line) of 1.0827 now. The French PMI data came in with beats across the board, which is a welcome development for the ECB.EUR/USD daily...
France February flash services PMI 48.0 vs 45.6 expected
Prior 45.4Manufacturing PMI 46.8 vs 43.5 expectedPrior 43.1Composite PMI 47.7 vs 45.0 expectedPrior 44.6Those are strong beats across the board and the euro is up to fresh highs on the day now. This diminishes the odds of an April rate cut, now seen at ~43%. Going...
European stocks light up at the open as risk trades soar
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,...
Dollar struggles to start European morning trade
The dollar is the laggard today and we're seeing the losses extend to get things going in European trading. It's not just a case of dollar weakness at the moment, as there are some key technical levels being challenged. Of note, both EUR/USD and AUD/USD are pushing...
France February business confidence 98 vs 98 prior
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,...
FX option expiries for 22 February 10am New York 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,...
PMI data the highlight on the economic calendar today
The dollar is slightly lower as we get into the thick of things today, as risk trades are buoyed following Nvidia's earnings beat. EUR/USD is up 0.2% to 1.0838 while GBP/USD is up 0.1% to 1.2645 currently. USD/JPY is down 0.1% to 150.20 with slightly lower yields also...
Japan finance minister says there is no ‘defense line’ in exchange rate
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,...
Risk sentiment very much buoyed after Nvidia earnings
And boy, did they deliver. S&P 500 futures are up 0.7% while Nasdaq futures are up 1.5% on the day currently. There were some jitters in the early yesterday but some late dip-buying helped to offset that a little. All before the earnings beat, which is leading to...
Survey shows analysts expect the RBA to lower its cash rate in Q3 (prior Q4)
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,...
ForexLive Asia-Pacific FX news wrap: Japan benchmark Nikkei 225 index hits new record high
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BoJapan Gov Ueda says Japan’s inflation is rising – will make appropriate policy decision
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,...
Reuters poll: 83% of analysts surveyed expect BOJ to end negative rates in April
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,...