Excess supply from OPEC keeps a lid on top of crude prices
Technical Analysis of Oil WTI Chart – Crude retraces its steps to the south after hitting the $66 per barrel ceiling Earlier this week, the bears managed to dismantle the bulls’ charge and keep the commodity below the $66 per barrel level, remaining steadfast, and in control. We maintain our bearish outlook bias for the […]
Swiss economy avoids deflationary rout
Earlier today, the latest CPI update from Switzerland matched economists’ expectations, standing still at the 0.2% level and rather confirmed the market views that SNB policymakers will most likely vote to keep rates unchanged at their upcoming quarterly policy decision in September. The central bank however is expected to face challenges in how they deploy […]
USD/CAD Price Forecast: Likely to find resistance at the 1.3825 area
The US Dollar is trading higher for the fourth consecutive day against the Canadian Dollar.
Forex Today: Gold corrects from record-high, USD awaits key data releases
Here is what you need to know on Thursday, September 4:
AUD/JPY Price Forecast: Tests confluence support zone near 96.50, nine-day EMA
AUD/JPY halts its winning streak that began on August 21, trading around 96.70 during the early European hours on Thursday. The technical analysis of the daily chart shows that the currency cross is positioned within the ascending channel pattern, suggesting a prevailing bullish bias.
Japanese Yen sticks to negative bias against USD; lacks bearish conviction ahead of US data
The Japanese Yen (JPY) remains on the back foot against its American counterpart through the early European session on Thursday amid a combination of negative factors.
Act of defiance; China pumps up its chest towards the West
Worries across the Western hemisphere have been on the rise that China’s Xi is on a mission to redraw a geopolitical map with India’s PM Modi and Russia’s President Putin, alongside other leaders, in an act of defiance, fearing that the world order created by the US will soon be challenged by a fierce coalition, […]
UK’s Gilts climb to 1998-year highs on mounting fiscal concerns
Anxiety took hold of UK markets earlier today, as investors battled with souring growth prospects but also murky revival efforts from the government due to concerns over the country’s fiscal outlook. Driving 30-year gilts higher were concerns of the markets in regards to Chancelor Reeve’s Autumn Budget which entail further tax raises to keep targets […]
Gold’s Weekly Update: Gold’s price on the rise
With the summer holidays over, September sets a number of fundamental issues on the path of gold traders. In today’s report we are to discuss a number of such issues affecting gold’s price but also attach a technical analysis of gold’s daily chart for a more complete picture. We make a start by noting the […]
Safe haven assets attract bids amidst rising rate cut bets
Safe haven assets such as gold and silver attracted renewed interest from investors late last week as a flurry of US economic news releases, dovish Fed talk rhetoric and uncertain tariff developments, nudged money market participants to upwardly revise odds for a 25bps cut in September. Despite a hotter than expected PCE print investors fixated […]
France HCOB Manufacturing PMI above expectations (49.9) in August: Actual (50.4)
France HCOB Manufacturing PMI above expectations (49.9) in August: Actual (50.4)
Italy HCOB Manufacturing PMI increased to 50.4 in August from previous 49.8
Italy HCOB Manufacturing PMI increased to 50.4 in August from previous 49.8
Austria Unemployment: 301.4K (August) vs 290K
Austria Unemployment: 301.4K (August) vs 290K
Austria Unemployment Rate climbed from previous 6.7% to 7% in August
Austria Unemployment Rate climbed from previous 6.7% to 7% in August
Could runaway inflation discourage Fed cuts?
Today, investors eyes will inevitably be drawn upon the Fed’s favourite inflation metric update, the Core PCE index, which will shed light onto how price pressures evolved within the US in the month of July, but more importantly what will the implications be for the trajectory of the Federal Funds rate during the remainder of […]
US doubles down on Indian tariff levies to stop Russian flows
Technical Analysis of Oil WTI Chart – Crude hits 3-month lows as bearish pressure persists Selling pressure persisted over the past week with the bears remaining in control of the move and WTI futures finding somewhat of a support above the $61.30 area, retested the $64.00 resistance ceiling, failed and then eased towards the $64 […]
S&P captures record highs, will complacency follow?
US equity futures continue to gradually crawl higher week after week as traders stay hopeful and optimistic, despite the frothiness around tech stocks and their lush AI promises, showcasing that investors place much more emphasis on the impending rate reductions from the Federal Reserve and the arrival of looser policy conditions. Money markets are currently […]
All eyes fixate upon Nvidia’s earnings data
Hefty promises have bolstered NVIDIA’s share prices to historic highs over the past year and a half and today’s earnings call is no different, as investors brace for a substantial post-earnings movement towards new highs, expecting that the AI chip manufacturer was and will be flooded with orders from top tech customers. Analysts expect Nvidia […]
EUR: French government looks likely to fall in September – ING
Hitting EUR/USD late on Monday was the surprise announcement from French Prime Minister François Bayrou that he was calling a vote of confidence in his government’s fiscal austerity plans on 8 September.
USD/JPY consolidates near 147.90 as Fed’s Cook vows to stay
The US Dollar is regaining lost ground across the board amid a new twist in the Federal Reserve saga, as Governour Lisa Cook dismissed Trump’s call to resign and committed to carry on with her duties at the Central Bank.