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Snapshot: EUR/JPY trades with a heavy bias as the ECB’s mild easing stance contrasts with the Bank of Japan’s slow policy normalisation, highlighted by Deputy Governor Himino’s address to parliament today. With Eurozone core inflation tracking at 2.3% and ECB speakers Elderson and Cipollone on the wires, domestic monetary divergence remains…
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Snapshot: Brent crude has steadied near $80.00 per barrel, nursing an 8.5% weekly loss as the geopolitical risk premium evaporates. Physical flows through the Strait of Hormuz are showing signs of structural normalization after Saudi tankers resumed transits, though today’s pause in outbound Persian Gulf shipments and delayed US-Iran talks in…
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Snapshot: EUR/GBP is trading offer-side near 0.8420, down 0.15% on the session, as the stark policy divergence between a dovish ECB and a restrictive Bank of England keeps the cross heavy. Today’s early 07:00 BST UK retail sales print provided a stable platform, but the broader narrative remains anchored by May’s…
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Where we are: Gold has dropped to $4,150 per ounce in early European cash trading, printing its lowest level since June 11. This sell-off puts the metal on track for a third consecutive weekly decline, with prices trading well below the prior New York close as the bearish trend accelerates. The…
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Where we are: The Single Currency is hovering around the $1.1450 mark ahead of the New York open, pinned near its weakest level since mid-March as it remains on track for a 1% weekly decline. Price action overnight tested liquidity lower but has consolidated within a tight European range as traders…
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Where we are: Nasdaq 100 futures are consolidating near the 19,850 level during the European morning, holding onto the bulk of Thursday’s powerful 1.9% cash rally. Price action is trading within a tight overnight range of 19,800 to 19,890, remaining well above the 50-day moving average as the market digests the…
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Regime: The global risk regime is firmly risk-off as a hawkish shift in US real rates—with 10-year TIPS rising to 2.23%—and a jump in the VIX to 18.44 fuel broad dollar strength and pressure global equity complexes. Today’s market themes: Theme 1: Structural real-rate repricing squeezing global asset valuations and driving…
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Where we are: Cable has managed to claw its way back above the 1.3200 handle in early European trading, staging a decent intraday recovery from its recent two-month low. The pair spent the overnight session carving out a base around 1.3175, but a fresh impulse of domestic buying has lifted it…
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Where we are: Spot USD/JPY is currently trading around 161.45, consolidating just below yesterday’s peak of 161.80 which marked its weakest level since July 2024 and put the pair on the precipice of a 40-year low. The overnight range has been tightly bound between 161.10 and 161.60, as Tokyo cash traders…
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Where we are: Dow Jones futures are trading in a tightly compressed range near 39,200 as thin holiday volumes cap directional momentum. This overnight consolidation follows Thursday’s cash close where the index posted a modest 72-point gain, significantly lagging the tech-heavy benchmarks as higher sovereign yields weighed on blue chips. Technically,…
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Where we are: USDCAD is hovering near its seven-month high at 1.4110, with consolidation dominating the European morning as traders brace for the NY open. The pair remains anchored near the top of its weekly range, digesting the recent push above 1.4050 following the hawkish shifts in US Treasury curves. We…
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Where we are: The dollar index (DXY) is trading around 100.80 ahead of the New York open, comfortably holding near its one-year highs after securing a 1.1% gain on the week. This solid bid follows a powerful midweek treasury sell-off that pushed the US 2-year yield up 15 basis points to…
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Where we are: Bitcoin is hovering around $66,420 as Europe desks hand over to New York, consolidating after a swift overnight slide from session highs of $67,150. The spot price is currently testing key support at the $66,200 level, leaving it vulnerable to a deeper correction toward the psychological $65,000 handle.…
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Where we are: The FTSE 100 is posting modest gains of 0.3% to trade around 8,240, recovering from an overnight low of 8,195 as European cash trading progresses. The index is clawing back some of its weekly losses, which still stand at roughly 0.6% after yesterday’s post-BoE slide. Immediate resistance sits…
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Snapshot: The Aussie remains pinned below the 0.7050 mark, capping a weak week as the RBA’s reluctance to ease clashes with deteriorating global risk sentiment. While Governor Bullock is holding the cash rate at 4.10% due to uneven services inflation and a tight labor market, the lack of fresh local data…
