Everything is going wrong in Germany right now.The country is all-in on electrification but the cornerstone of its industry -- automotive manufacturing -- appears to have missed the mark on building electric cars. Meanwhile, the country is hollowing out its industrial...
US stock futures point to a moderate decline as Oracle slumps
S&P 500 futures are down 18 points, or 0.4%, to reverse a 30-point gain yesterday.Oil prices appear to be weighing and shares of Oracle are down 9.7% in the premarket after the software company reported $12.45 billion in revenue, lower than the $12.47 billion...
WTI crude oil rises to a fresh 10-month high
WTI crude oil is trading at the highest since November after some modest resistance at the recent high of $88.07 gave way. The fresh high is $88.45 with little now standing in the way of $90 and beyond.Oil dailyThe IEA has grabbed some headlines today, writing that...
Bonds are in focus once again today
A US 10-year auction is the highlight on an otherwise-quiet economic calendar today. Right now 10s are down 0.4 bps to 4.28% and the auction will set the tone for what's next.The Fed is in the blackout period and the ECB decision is on Thursday so everyone is hunkered...
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NZDUSD Technical Analysis – The pair is at a key support
US:The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.Inflation measures since then showed further disinflation. The labour market displayed...
ForexLive European FX news wrap: Dollar recovers some ground, eyes CPI data tomorrow
Headlines:Markets:USD leads, GBP lags on the dayEuropean equities mixed; S&P 500 futures down 0.3%US 10-year yields flat at 4.290%Gold down 0.5% to $1,911.96WTI crude up 0.7% to $87.88Bitcoin up 3.8% to $26,034It was a relatively slow and quieter session in...
Gold Outlook Remains Mixed – XAU/USD Eyes US Inflation Report for Guidance
Gold (XAU/USD) Analysis, Price, and ChartUS inflation readings are expected to diverge.Gold traders need a boost of volatility as price action remains subdued.FOMC members are currently barred from making any public comments ahead of next Thursday’s Fed policy...
Bitcoin jumps as BOE policymaker says better to regulate crypto under financial services
To be fair though, there were a couple of light bids leading up to the sudden jump if you zoom in to the minute-chart. But the big spike came right on the dot as BOE policymaker Breeden said that it would be better to regulate cryptocurrencies under the financial...
AUDUSD Technical Analysis – Key levels in play
US:The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.Inflation measures since then showed further disinflation. The labour market displayed...
US August NFIB small business optimism index 91.3 vs 91.9 prior
The reading is once again below the 49-year average of 98, with this being the 20th month in a row at that. NFIB does note that Q3 economic conditions are looking good with September "needing to be an exceptionally bad month to negate the solid economic data that came...
Rates differential: flat – GBPUSD
The inflation rate – at least the headline rate – which has fallen sharply in the last four reports (from 10.1% in March to 6.8% in July) has certainly contributed to the Old Lady’s expectations of aggressiveness waning, bringing the terminal rate...
BOE’s Breeden: The risks to inflation around August forecast are to the upside
Sees balanced risks to growth and unemployment in both directionsExpects inflation to be around the 2% target in two yearsShe's currently serving on the FPC and will only assume the deputy governor post on 1 November, so I wouldn't expect her to step on any toes with...
USDCAD Technical Analysis – The pair is at a key support
US:The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.Inflation measures since then showed further disinflation. The labour market displayed...
The ECB will have to sell a hawkish pause if they do not hike this week, but can they?
It's a tough call but the bottom line is that if the ECB is unsure that they have done enough on rate hikes, then this week is perhaps the last opportunity for them to actually deliver one more. Otherwise, the ship might have just sailed and pass them by.With the euro...
Germany September ZEW survey current conditions -79.4 vs -75.0 expected
Prior -71.3Expectations -11.4 vs -15.0 expectedPrior -12.3That's the lowest reading since August 2020 as the German economy continues to stutter amid growing risks of a deeper recession. The outlook reading was better than estimated and an improvement from August but...
Dollar keeps steadier to start the session
Major currencies are still mostly little changed as we settle down after the whole fuss with the Japanese yen, which was stirred up by BOJ governor Ueda over the weekend. There hasn't been any follow through in the yen buying as we do see USD/JPY up 0.2% today to...
European equities open slightly higher to kick start the day
Eurostoxx +0.2%Germany DAX +0.1%France CAC 40 +0.2%UK FTSE +0.2%Spain IBEX +0.3%Italy FTSE MIB +0.2%US futures are mostly little changed, with S&P 500 futures just down by 0.1%. That's not really giving traders much to work with as we get things going in European...
USDJPY Technical Analysis – Watch the US data
US:The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.Inflation measures since then showed further disinflation. The labour market displayed...
Spain August final CPI +2.6% vs +2.6% y/y prelim
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