EU Pres. von der Leyan on the strike by Russian forces in Kyiv that included a hit on the EU offices: Putin must come to the negotiating table We must secure a just and lasting peace for Ukraine with firm and credible security guarantees that will turn the country into a steel porcupine. The EU … Read more
The US dollar is continuing the fall that was started in the New York session yesterday. As US traders enter for the day with the EURUSD, USDJPY and GBPUSD trading near the lows. In the video, I outline the moves today, and outline the key risk and bias defiining levels for each. What would keep … Read more
Fundamental Overview The USD recovered most of the losses triggered by Powell’s dovish tilt at the Jackson Hole Symposium before giving the gains back yesterday. Traders are now focused on the US labour market data due next week that will culminate with a crucial NFP report on Friday. In fact, the data will influence interest … Read more
Rate cuts by year-end Fed: 55 bps (89% probability of rate cut at the upcoming meeting) ECB: 10 bps (96% probability of no change at the upcoming meeting) BoE: 10 bps (99% probability of no change at the upcoming meeting) BoC: 24 bps (64% probability of no change at the upcoming meeting) RBA: 33 bps … Read more
Fundamental Overview The USD recovered some of the losses triggered by Powell’s dovish tilt at the Jackson Hole Symposium. Traders are now focused on the US labour market data due next week that will culminate with a crucial NFP report on Friday. In fact, the data will influence interest rates expectations greatly. Right now, the … Read more
Eurostoxx +0.6% Germany DAX +0.4% France CAC 40 +0.8% UK FTSE flat Spain IBEX +0.3% Italy FTSE MIB +0.6% Despite the continued bounce today, the CAC 40 index is still down 2% on the week. Meanwhile, the DAX is down 0.9% still so far this week even with the gains above. US futures are also … Read more
Fundamental Overview Gold continued to edge higher this week following Powell’s dovish tilt last Friday. Inflation expectations kept on climbing, while Treasury yields have not gone anywhere. That caused real yields to fall giving further support to gold prices. The focus is now on the US labour market data that will culminate with the NFP … Read more
Goldman Sachs is noting that even with potential for dollar weakness coming through, there is caution to be heeded in chasing commodity currencies as the play for that. The firm says that the AUD, NZD, and CAD have all touched or nearly touched their 3-month targets but have since eased against the dollar. Adding to … Read more
The next two days is going to be a tricky one for markets with month-end trading in focus. And perhaps we got a taste of that already yesterday. As market players move to price in ~55 bps of rate cuts for the Fed by year-end already, the dollar seemed to have found a floor as … Read more
Japan’s 2-year bond auction drew the weakest demand since 2009, with the bid-to-cover ratio slumping to its lowest in over 15 years. The auction also produced the widest tail since 2023, underscoring fragile investor appetite for short-dated JGBs. This article was written by Eamonn Sheridan at investinglive.com. fbs.mobi
