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Where we are: Spot USD/CAD is hovering around the 1.3910 mark ahead of the New York open, consolidating within a tight overnight range of 1.3895 to 1.3930. The pair sits slightly below yesterday’s New York close, struggling to make sustainable headway above key multi-month resistance at 1.3950. We are seeing decent…
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Where we are: BTC/USD is consolidating near its highest opening values in two weeks, trading firmly around $68,400 as the European cash session prepares to hand over to New York. The overnight session delivered a clean breakout from the recent tight congestion range, spurred on by a broader crypto bid that…
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Where we are: The FTSE 100 is grinding marginally higher in early afternoon trading, currently hovering around 8,185 as it attempts to recover from yesterday’s 0.4% decline. The intraday range has remained tightly coiled between 8,160 and 8,210, reflecting a cautious tone before Wall Street enters the fray. Technically, the index…
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Where we are: The Single Currency has rallied hard into the London midday, currently trading at $1.1600 as it probes its highest levels since early June. The overnight session saw the pair consolidate its recent gains, holding comfortably above the 1.1550 level before launching an assault on the 1.1600 figure. Technically,…
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Snapshot: The Aussie has slumped to around 0.7050 after the Reserve Bank of Australia kept the cash rate steady at 4.35% today, pausing after three consecutive hikes earlier this year. Despite the board retaining a warning that further rate hikes are not off the table, the market has seized on the…
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Snapshot: WTI crude has plunged over 4% to $77.60 per barrel, compounding Monday’s 4.9% rout to trade at its lowest level since early March. This unrelenting selloff is driven by supply-side optimism surrounding an expected US-Iran interim agreement to reopen the Strait of Hormuz, set to be signed in Switzerland this…
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Snapshot: The Nikkei 225 reversed early losses to close up 0.13% at a record 69,404, shrugging off the Bank of Japan’s 25 basis point rate hike to 1.00% at 12:19 JST. Policymakers acted to combat persistent inflation, but dissent from board member Asada regarding employment risks reassured the market that the…
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Snapshot: The DAX 40 has convincingly cleared the 25,000 milestone as Eurozone inflation settling at 2.0% and ECB’s Philip Lane outlining a constructive economic path underpin regional equities. This domestic support is amplified by easing global energy anxieties following the US-Iran framework agreement, which has kept WTI crude stable around $95.…
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Snapshot: The Swiss Franc is trading firmly near the 0.79 level against the greenback, even as May’s domestic producer and import prices fell 0.4% to reinforce Switzerland’s entrenched disinflationary path. This soft pricing backdrop keeps pressure on the Swiss National Bank ahead of its June 19 policy decision, where the 0.25%…
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Snapshot: NZD/USD is heavy around $0.5810, down 0.1% on the session, as the currency remains shackled by the RBNZ’s entrenched easing bias. With local inflation tracking below the mid-band and slack widening in the labor market, domestic fundamentals offer zero support ahead of the New York open. Today’s price action is…
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Where we are: Nasdaq 100 futures (NQ) are trading softer around the 19,820 mark ahead of the New York open, underperforming the broader cash market after tech heavyweights trimmed recent gains. The overnight range has been relatively tight, capped at 19,910, as traders digest the geopolitical de-escalation in the Middle East…
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Snapshot: GBP/JPY maintains its firm bid tone as the Bank of Japan’s monetary policy decision at 12:19 JST confirmed a glacial normalisation path, leaving the massive yield advantage of the 4.50% Bank Rate unchallenged. While cooling UK CPI at 2.8% and core CPI at 2.5% show inflation is moderating, the BoE’s…
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Snapshot: EUR/JPY is pressing higher after the Bank of Japan held its policy rate at 0.50% at 12:19 JST, failing to deliver the hawkish acceleration needed to rescue the Yen. This policy inertia leaves the ECB’s 2.50% deposit rate yielding a highly attractive carry, with ECB Chief Economist Philip Lane’s 13:10…
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Snapshot: Brent crude has plunged below the psychological $80 a barrel mark, sliding over 3% to its lowest level since early March. The liquidation is entirely supply-driven, as traders aggressively price in a return of Iranian tanker traffic following a US-Iran ceasefire to reopen the Strait of Hormuz. An interim deal…
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Snapshot: EUR/GBP is trading softly around the 0.8425 level, down 0.15% on the session, as policy divergence between the ECB and the Bank of England caps Euro upside. While UK headline CPI has softened to 2.8%, the MPC’s cautious stance on sticky services inflation near 5% keeps Gilt yields supported relative…
