The strongest to the weakest of the major currenciesAs the new trading week begins, the CHF is the strongest and the USD is the weakest. However, all the major currencies are scrunched together in what is a quiet open for the trading week. The largetst low to high...
ForexLive European FX news wrap: Currencies rangebound awaiting the week’s major events
Headlines:Markets:USD little changedEuropean equities lower; S&P 500 futures down 0.2%US 10-year yields up 1.6 bps to 4.338%Gold up 0.1% to $1,926.46WTI crude up 0.6% to $91.30Bitcoin up 2.9% to $27,194It was a quiet session overall as markets look to get settled...
Not a good look for equities ahead of US trading
S&P 500 futuresAfter the relatively calmer mood throughout European morning trade, US futures are now starting to take a bit more of a hit on the day. S&P 500 futures are now down by 0.2% with Nasdaq futures down 0.3%. That is keeping a drag on the softer mood...
China central bank and forex regulator meets with foreign financial institutions
The PBOC is out with some comments noting that China will improve its policies and create a more market-oriented and international-level business climate. I would look past the smoke and mirrors here as the meeting seems to involve the forex regulator for some reason....
One last rate hike for the road for the SNB?
The latest results from Reuters' poll on economists on the SNB ahead of the policy meeting decision this week:30 of 37 economists expect another 25 bps rate hike this weekThe majority then sees the SNB keeping rates unchanged at 2% until at least middle of next yearAs...
Risks of inflation being more stubborn than expected should not be ruled out – BIS
Residual differences remain between central bank communications and market expectationsCurrent build-up of leveraged shorts in Treasury futures is a vulnerability worth monitoringThese are already well in the consideration of market participants, without needing to be...
FX caught in a bind as the waiting game continues
The dollar is sitting little changed overall with the ranges for the day leaving a lot to be desired. Currently, dollar pairs are all holding within 20 pips of one another and that says a lot amid the tight ranges that we are seeing so far on the day:It's all about...
Japanese Yen Forecast: A Big Week Ahead for USD/JPY Traders
Japanese Yen Prices, Charts, and AnalysisFOMC decision on Wednesday, the Bank of Japan on Friday.USD/JPY struggles with resistance.Learn How to Trade USD/JPY Recommended by Nick Cawley How to Trade USD/JPY Get My Guide The Federal Reserve (Fed) and the Bank of Japan...
Nasdaq Composite Technical Analysis – Downside risk after the breakout
Last week, we got another set of good economic data for the US with signs of further disinflation in the core inflation measures. The soft-landing narrative should be in full swing with resilient labour market, lower inflation, and lower inflation expectations....
ECB’s Kazimir says cannot rule out further rate hikes
I wish that September rate hike was the last oneBut cannot rule out further movesOnly via the March forecast next year can we confirm the path towards inflation goalEnd of rate hikes is to open debate on how to adjust PEPP and APPOnce it is clear that no more rate...
Dow Jones Technical Analysis – Watch out for a breakout
Last week, we got another set of good economic data for the US with signs of further disinflation in the core inflation measures. The soft-landing narrative should be in full swing with resilient labour market, lower inflation, and lower inflation expectations....
It’s not just major central banks that will be in focus this week
Major central bank decisions are of course the main watch, which is in part contributing to the rather lackadaisical mood so far in European morning trade today. From earlier: The central bank bonanza heats up this weekBut it's not just those policy decisions that...
SNB total sight deposits w.e. 15 September CHF 473.0 bn vs CHF 468.9 bn 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,...
Gold Technical Analysis – More downside expected
The uncertainty around inflation due to another increase in energy prices and the risk of a recession continue to keep Gold in a range. In fact, we saw a rally in Gold around the end of August as the US data started to surprise to the downside with the labour market...
All eyes on the bond market to start the new week
US Treasury 10-year yields (%) daily chartThis carries over from the narrative last week here. 10-year Treasury yields did see a weekly close above 4.30% and that is the highest since 2007, with there being a slight extension today with yields moving up to 4.35%...
European equities down at the open today
Eurostoxx -0.5%Germany DAX -0.4%France CAC -0.6%UK FTSE -0.1%Spain IBEX -0.4%Italy FTSE MIB -0.4%This comes as US futures also pare early gains on the day, as Treasury yields continue to hold higher. 10-year yields in the US are up another 2.6 bps now to 4.348% and...
FX option expiries for 18 September 10am New York cut
There aren't any significant expiries to take note of for the day. But there are some large ones sandwiching USD/JPY at its current price levels, seen at 147.00 and 148.35, although I doubt we will see them come into play. The market mood is rather lethargic today...
S&P 500 Technical Analysis – We are at a key support
Last week, we got another set of good economic data for the US with signs of further disinflation in the core inflation measures. The soft-landing narrative should be in full swing with resilient labour market, lower inflation, and lower inflation expectations....
Goldman Sachs lowers BOE terminal rate forecast to 5.50%
The firm now sees the BOE pausing in November as opposed to their previous view that the central bank would hike, noting that:"Looking ahead to the November meeting, we see a greater chance that sequential wage and price pressures will have cooled sufficiently to...
China says yuan will show ‘positive changes’ against dollar after ‘bottoming out’
This is via the latest publication from the Chinese central bank and it's not entirely clear if they mean after the yuan has bottomed out or if they are hinting that it already has. But at least in the past week, they have shown that they are quite willing to stop the...