Headlines:Markets:CHF leads, NZD lags on the dayEuropean equities lower; S&P 500 futures flatUS 10-year yields down 10 bps to 4.608%Gold up 1.5% to $1,897.53WTI crude up 4.0% to $86.26Bitcoin up 0.3% to $26,807It started off with a more tentative mood but markets...
Nasdaq Composite Technical Analysis – Another rally into the weekend?
After four consecutive green days, the Nasdaq Composite yesterday got under some pressure caused by an ugly bond auction that made Treasury yields to spike higher. The US data before the auction hasn’t weighed on the index as Core CPI came in line with expectations...
FTSE 100, DAX 40 and S&P 500 Capped by Key Resistance on Uptick in US inflation
Article by IG Senior Market Analyst Axel RudolphFTSE 100, DAX 40, and S&P 500 Analysis and ChartsFTSE 100 capped by resistanceThe FTSE 100 has seen six consecutive days of gains, on Thursday driven by energy and health care stocks, but has come off the...
Oil rallies back on the week on Middle East fears
WTI crude oil daily chartOil is up nearly 4% on the day with WTI crude now seen up to above $86 in a big surge in European morning trade. This comes as Israel issued a threat and instructed civilians in Gaza to evacuate the city and relocate to the south within the...
Markets seeking shelter ahead of the weekend?
The latest news from the Middle East is that Israel has instructed for all civilians in Gaza to evacuate the city and relocate to the south within the next 24 hours. The call is that "now is the time for war" as the Israeli military is preparing to attack and social...
Equities retreat as traders remain nervous before the weekend
S&P 500 futuresIt's been a slow drop for equities in the last hour but it is evident that the nerves are showing up again, after the moves yesterday. Treasury yields are still sitting lower but as mentioned here, it is a case of once bitten, twice shy for broader...
PBOC says it still has ample room to support the economy
Closely watching effectiveness of policy stepsRecent interest rate cuts for property sector have achieved significant resultsWill implement monetary policy in a precise and forceful mannerThey will not admit that whatever they are doing isn't enough, so don't expect a...
ECB’s Visco: Uncertainty looms great on global 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,...
AUDUSD Technical Analysis – Signs of a bottom continue to emerge
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts in 2024.Fed Chair Powell...
German economy to show another mild decline in Q3 – economy ministry
Another mild decline in GDP is expected for Q3But momentum expected to return at the end of the yearFor now, no noticeable momentum in foreign trade in the coming months at leastThey are expecting a "moderate recovery" at the turn of the year but only time will tell....
BOE’s Bailey: Last policy decision was a tight one
Future decisions will continue being tightPolicy is restrictive and it has to beSees progress on inflation but there is still work left to doA 4-5 vote is as tight as can be but in all likelihood, the BOE is done unless there is a surprise higher in the inflation...
Market Update – October 13 – OIl & Gold rise, USD falls
Stock markets sold off across Asia, after a weaker close on Wall Street. Rate hike concerns picked up again in the wake of the hotter than expected US inflation print yesterday and still tight jobless claims numbers and put stocks on the back foot. The reports saw the...
China September M2 money supply +10.3% vs +10.7% y/y expected
Prior +10.6%New yuan loans ¥2.31 trillion vs ¥2.50 trillion expectedPrior ¥1.36 trillionThat's a notable jump in new loans, even if it comes in lower than estimated. Broad money growth continues to ease further and will be something that Beijing has to be mindful...
Once bitten, twice shy..
The lesson learnt yesterday is that the bond market rout is not really over just yet. And that is keeping traders on their toes as we get towards the final trading day of the week. 10-year Treasury yields are down slightly by 5 bps to 4.650% but we're not really...
Gold Technical Analysis – Big selling opportunity at this resistance?
The war in Israel has given Gold a boost as the precious metal managed to sustain a rally after the upward gap following the outbreak of the war. The real yields and the US Dollar though continue to march higher and that might weigh on Gold especially at these key...
Spain September final CPI +3.5% vs +3.5% y/y prelim
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,...
France September final CPI +4.9% vs +4.9% y/y prelim
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,...
Switzerland September producer and import prices -0.1% vs -0.2% m/m prior
Looking at the breakdown, producer prices were flat on the month while the slight fall was due to import prices (-0.2%). Overall, it still points to further moderation in price pressures - which is a welcome development as the SNB heads to the sidelines.MoneyMaker FX...
USDCAD Technical Analysis – Another selling opportunity or new highs incoming?
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher, and the Dot Plot showed that the FOMC still expects another rate hike by the end of the year with less rate cuts in 2024.Fed Chair Powell...
FX option expiries for 13 October 10am New York cut
There are a handful of significantly large option expiries for EUR/USD to take note of, as highlighted in bold.The key ones based on the current spot price are layered around 1.0500 to 1.0575 but those expiries are sandwiched in between some massive ones at 1.0470-75...