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Where we are: S&P 500 futures are grinding higher ahead of the New York open, consolidating near 5,445 after extending a three-session rally. This follows a strong showing on Monday where the Dow jumped 350 points to record highs, though the Nasdaq 100 dragged on megacap tech consolidation. Overnight, cash index…
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Snapshot: GBP/JPY remains locked in a battle between a cautious Bank of England holding at 4.50% and the Bank of Japan’s slow normalisation path. With UK services CPI sticky near 5% and the BoJ keeping its policy rate at 0.50% overnight, Sterling’s yield advantage persists but is increasingly capped by MoF…
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Regime: Risk-on but with a clear cyclical tilt, anchored by the VIX sliding 8.37% to 16.2 and the DXY breaking below 100 to trade at 99.70 as real yields hold near 2.17%. Today’s market themes: Theme 1: Central bank divergence as BoJ’s surprise 25bp hike to 1.00% contrasts with the RBA’s…
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Snapshot: EUR/JPY remains bid after the Bank of Japan maintained its slow-paced normalisation path overnight, keeping the policy rate target under 1.00%. While spring shunto wage growth supports eventual hikes, Tokyo’s cautious stance leaves the Yen vulnerable as ECB Chief Economist Philip Lane prepares to speak at 13:10 London on the…
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Where we are: Gold is grinding out gains above the $4,300 per ounce threshold in early European trading, consolidating after yesterday’s explosive 2% rally. The overnight range has been relatively tight, anchored by a minor constructive bid as Asian markets digested the potential for a Friday signing of the US-Iran interim…
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Where we are: The dollar index (DXY) is trading around the 99.70 level ahead of the New York open, consolidating after yesterday’s broad-based selloff. The overnight range remained tightly bound between 99.55 and 99.85 as Asian and European desks sidelined themselves ahead of fresh US catalysts. This leaves the greenback sitting…
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Snapshot: Brent crude has plunged below the $80 mark to a three-month low, sliding over 3% today on top of Monday’s 4.8% rout, as physical supply anxiety unwinds. The selloff is driven by expectations that a US-Iran ceasefire extension and an interim deal expected on Friday in Switzerland will fully reopen…
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Snapshot: EUR/GBP remains pinned near its recent range lows as the market weighs a cautious Bank of England against an ECB already in easing mode. Today’s primary catalyst is ECB Chief Economist Philip Lane’s economic outlook presentation at 13:10 London, which comes on the heels of the ECB’s April cut to…
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Where we are: S&P 500 futures are hovering in tight pre-market ranges, holding onto the bulk of their three-session rally as London handoff begins. The index is consolidating yesterday’s gains, with the immediate ceiling at 5,450 capping the overnight session while solid support remains anchored at the 5,400 breakout level. Cash…
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Where we are: EUR/USD has surged to the 1.1600 handle, marking its highest level since early June in a highly constructive European morning session. Spot has completely erased yesterday’s late New York drift, clearing key horizontal resistance at 1.1550 on heavy volume. The overnight range was firmly bid, establishing a strong…
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Where we are: Nasdaq 100 futures are consolidating lower ahead of the New York bell, trading around the 19,520 level as mega-cap tech digestion offsets broader index resilience. Overnight trade established a tight range between 19,460 and 19,580, leaving the index just below yesterday’s cash close. This mild softness follows a…
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Where we are: Gold is holding steady above the $4,300/oz handle, consolidating around $4,308 after yesterday’s explosive 2% rally. The overnight session saw a well-defined range between $4,295 and $4,315, with the metal maintaining an exceptionally constructive posture above the key $4,280 technical level. This consolidates the bulk of the gains…
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Where we are: Sterling has charged through the 1.3400 handle during London cash trading, currently exchanging hands at 1.3425, near the top of its 1.3360 to 1.3435 intraday range. This breakout places Cable at its highest level since early June, extending the recovery from last week’s lows. We are currently trading…
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Where we are: USD/JPY is trading actively around the 159.60 level, staging a firm recovery after breaching the psychological 160.00 threshold during a highly volatile Tokyo session. The pair carved out an overnight range between 159.30 and 160.80, with Tokyo cash markets reacting aggressively to the central bank’s policy shift. Technically,…
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Where we are: Dow Jones futures are consolidating near record highs this morning, trading tight around the 40,220 mark ahead of the New York open. This follows Monday’s explosive 350-point cash rally to fresh all-time closing records, driven by a dramatic de-escalation of tensions in the Persian Gulf. The overnight session…
