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Snapshot: The DAX is currently trading around 24,000, down 1% following reports of escalating tensions in the Middle East and renewed tariff threats from the US. Focus remains on ECB speakers throughout the morning, including de Guindos’ presentation to the European Parliament. Watch for follow-through from this morning’s risk-off move, particularly…
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Snapshot: USD/CHF currently trades at 0.7831, up 0.10% from the previous session, driven by the SNB’s recent 25bp rate cut to 0.25% in March and Schlegel’s indication of potentially returning to negative rates. Today’s catalyst is the persistent CHF strength alongside near-zero headline CPI, keeping the SNB’s easing posture prominent. Watch…
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Snapshot: NZD/USD remains under pressure, currently trading around 0.5910, as the RBNZ’s dovish stance continues to weigh on the currency. Governor Orr’s signal of further easing if disinflation embeds keeps downward pressure intact, offsetting any risk-on sentiment. Today’s catalyst will be the US data at 08:30 ET. Watch for a break…
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Snapshot: GBP/JPY is pushing higher, testing resistance near 192.50, as the Bank of Japan’s latest decision to hold rates steady at 0.50% reinforces the monetary policy divergence with the Bank of England. Ueda’s comments on the willingness to hike further if the outlook tracks projections provided a limited boost to the…
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Snapshot: EUR/JPY is trading near 170.50, little changed, as traders weigh the mild easing bias from the ECB against slow normalisation from the BoJ. ECB speakers overnight offered little new information, keeping the focus on upcoming data. Watch 171.00 for potential breakout, resistance tested in Asian session. Risk: Renewed Yen weakness…
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Snapshot: Brent is pushing higher, driven by escalating tensions in the Strait of Hormuz and OPEC+ reluctance to ramp up output materially following the UAE’s exit. News wires report Brent is trading around $110 a barrel, near a four-year high. Focus shifts to whether Gov. Macklem’s 15:30 ET remarks offer fresh…
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Snapshot: EUR/GBP trades near 0.8550, little changed on the session. The primary driver remains the diverging paths of the ECB and BoE, with the latter maintaining a hawkish stance despite one dissenter voting for a cut at the last meeting. Focus now shifts to the BoE meeting on Thursday, 8 May.…
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Regime: Mixed — VIX is elevated at 18.81, while US 10Y yields are up 6bp on the day, suggesting a grind higher driven by real-rate repricing. Today’s market themes: Real-rate repricing: higher yields pressuring risk assets amid sticky inflation data USD/JPY intervention risk: markets remain on high alert after suspected BOJ…
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Where we are: The Dollar Index is hovering around 118.73, little changed from yesterday’s close, within an overnight range of 118.65 and 118.80. The index remains underpinned by solid US yields, with the 2-year at 3.92% and the 10-year at 4.42%. Technically, the DXY is holding above its 50-day moving average,…
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Where we are: S&P 500 futures are trading flat around 5,300, holding onto gains from the recent rally. The overnight range has been relatively tight, contained within 5,290 and 5,310. This level is slightly above yesterday’s NY close, suggesting a modest positive bias heading into the open. Key levels to watch…
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Where we are: Gold is trading around $4,605, down from an overnight high of $4,620. Bullion is struggling to maintain its gains from the previous session, facing resistance around the $4,625 level. The price is currently below yesterday’s New York close, reflecting the pressure from rising real yields. What’s driving it:…
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Where we are: EUR/USD is trading around 1.1715, drifting sideways in early European trade. Overnight, the pair ranged between 1.1690 and 1.1725. This level is slightly above yesterday’s New York close near 1.1705, however, price action has struggled to build momentum so far this morning. What’s driving it: The Euro is…
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Where we are: The Nasdaq 100 is trading near unchanged at 18,050 in pre-market trading. The overnight range has been tight, confined between 18,000 and 18,100. This level is just below yesterday’s New York close, suggesting a slightly cautious tone ahead of key data releases. What’s driving it: The primary driver…
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Where we are: GBP/USD is currently hovering around 1.3610, consolidating gains made overnight. The pair traded in a tight range between 1.3580 and 1.3625 during the Asian and early European sessions. This level sits just above yesterday’s New York close, suggesting the pound is holding its ground despite a relatively quiet…
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Where we are: USD/JPY is trading around 156.50, recovering from a dip to 155.50 following suspected BOJ intervention yesterday. The overnight range has been relatively contained, but the pair remains significantly above the prior NY close, signalling persistent underlying dollar strength despite the threat of further intervention. What’s driving it: The…
