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Where we are: Sterling has slipped back toward the key 1.3200 handle, printing an intraday low of 1.3204 to trade at its lowest level since early April. The currency was relatively stable during the overnight Asian session but faced immediate selling pressure during the European cash open following the UK data…
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Where we are: USD/JPY is grinding aggressively higher, currently trading at 161.85 as the New York open approaches, representing the weakest level for the Japanese currency since July 2024. The overnight range saw the pair print a low of 160.90 before a relentless bid in early European trading squeezed spot past…
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Where we are: We are seeing Dow futures claw back ground, trading up 0.7% this morning around the 39,220 mark as Wall Street attempts to repair yesterday’s late-session damage. This constructive premarket bid follows a volatile Wednesday session where the blue-chip index hit a fresh intraday all-time high before reversing violently…
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Where we are: Spot USD/CAD is hovering around the 1.4100 handle as the European morning winds down, consolidating near its seven-month low. The overnight range has been tightly bound between 1.4085 and 1.4120, showing a market reluctant to push further without fresh catalysts. We see minor support holding at 1.4050, while…
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Where we are: Bitcoin is sliding back toward $66,200 during the European morning, wiping out yesterday’s minor recovery despite the positive geopolitical backdrop of an Iran peace deal. This intraday flush has broken below the 50-day moving average, setting a heavy tone as we approach the New York open. We are…
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Snapshot: The Aussie is holding firm above the 0.7000 handle, underpinned by the Reserve Bank of Australia’s reluctance to commit to a rate-cut path while services inflation remains sticky. While domestic data is in a quiet window today, the policy gap between a hawkish Governor Bullock and a shifting Federal Reserve…
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Where we are: The FTSE 100 is trading down over 1.1% today, currently hovering near the 8,210 level as the UK cash session digests a hawkish surprise from Threadneedle Street. This slide wipes out the week’s modest gains, pushing the index well below its 50-day moving average and putting key support…
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Snapshot: The Aussie is battling to defend the key 0.7000 handle, solidly backstopped by the Reserve Bank of Australia’s restrictive 4.10% cash rate and Governor Bullock’s warnings on uneven services inflation. This domestic hawkishness keeps local yields supported even as risk assets digest a massive 4.5% collapse in WTI crude overnight,…
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Snapshot: US Crude has plunged below the $75 per barrel mark to its lowest level since March, as an interim US-Iran agreement to reopen the Strait of Hormuz triggers a massive supply-side relief trade. This structural supply normalization completely overrides yesterday’s hawkish economic projections from the FOMC, with physical flows returning…
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Snapshot: Nikkei 225 surged 1.65% to a record close of 71,053, driven by relief over Japan’s heavy reliance on Middle Eastern energy imports following an interim agreement to reopen the Strait of Hormuz. This geopolitical breakthrough sparked a massive bid in domestic heavyweights, with tech and financial sectors leading the charge…
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Snapshot: The DAX 40 has broken above the pivotal 25,000 mark to print fresh highs, supported by domestic disinflation confirmation as the ECB wage tracker points to stable negotiated wage pressures. German HICP holding at 2% YoY provides a clear runway for ECB policy normalization, while this constructive domestic backdrop is…
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Snapshot: WTI crude has tumbled below $75 per barrel, its lowest level since early March, as supply-side risk premium evaporates following an interim US-Iran agreement to reopen the Strait of Hormuz. Reopening this Persian Gulf artery clears the way for Saudi Arabia, the UAE, and Iraq to restart millions of barrels…
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Snapshot: USD/CHF is consolidating near the 0.8800 level following the SNB’s decision at 09:30 CET to hold its policy rate steady at 0.00%. While the central bank raised its intermediate CPI projections, its explicit warning that it stands ready to activate FX interventions to curb safe-haven Swiss Franc strength has successfully…
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Snapshot: The Kiwi has clawed its way back to $0.578 this morning, but any sustained recovery is capped by the RBNZ’s firm easing bias after its April cut to 3.50%. While global risk relief from the US-Iran MOU has lifted the currency off its recent lows, local momentum is absent as…
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Snapshot: GBP/JPY is coiling tightly after the Bank of England held its Bank Rate at 3.75% at 12:00 BST today. The MPC’s cautious hold, driven by resilient wages and services inflation running near 5%, preserves the UK’s substantial yield advantage over a slow-to-normalize Bank of Japan sitting at 0.50%. The BoE’s…
