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Snapshot: The Nikkei 225 is trading at 66734, up 0.16% on the day. JGB yields are sharply lower, with the 10-year down 12bp to 2.569%, supporting equities. Today’s moves are happening amidst lingering uncertainty about BOJ policy. Watch for a break above intraday highs of 66734. Risk: Middle East tensions and…
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Snapshot: The DAX is currently trading at 25164, down 31 points, weighed by slightly disappointing HICP prints, which at 3.2% and 2.4% respectively were roughly in line or slightly above expectations. Traders will be watching for reactions to the US data later this morning. The DE 2Y Schatz is holding steady…
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Snapshot: USD/CHF trades at 0.7858, down 0.11% on the session, pressured by the SNB’s active easing stance. Schlegel’s recent comments indicating a willingness to consider negative rates again if disinflation overshoots keeps the pressure on the Franc. All eyes on 10:00 ET JOLTS data out of the US. The Swiss 2Y…
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Snapshot: NZD/USD trades at 0.5930, down 0.13% on the day, weighed down by the RBNZ’s firmly entrenched easing bias, reinforced by the recent 25bp cut in April and Governor Orr’s signaling of further easing if disinflation takes hold. Today’s JOLTS data at 10:00 ET will be closely watched as a cross-driver.…
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Snapshot: GBP/JPY is trading at 215.26 (+0.20%) after a quiet overnight session. The pair is underpinned by the Bank of England’s cautious stance, with the MPC reluctant to signal a cut path. All eyes are on BoE Gov Bailey’s speech at 15:00 London, with markets keen for any further clues on…
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Snapshot: EUR/JPY at 186.15, up 0.22% on the session, fueled by the prospect of further ECB easing. The 2bp rise in the German 2-year Schatz yield is being overshadowed by growing anticipation for further rate cuts following April’s 25bp move. Focus now shifts to the 11:00 CET Eurozone CPI Flash Estimate.…
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Snapshot: Brent is currently trading at $94.01, down 0.81% on the day, pulled down by conflicting signals regarding US-Iran negotiations. Today’s medium-impact JOLTS Job Openings at 10:00 ET could offer some intraday direction. Watch for a break below $92.86 (day low) which could open the door to further downside. Risk: Further…
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Snapshot: EUR/GBP trades at 0.8647, up 0.02% intraday, with the single domestic driver being the divergence between ECB and BoE stances. UK inflation prints are trending downward while the unemployment rate ticks up. Today’s catalyst will be the 15:00 London BOE Governor Bailey speech. Resistance sits near 0.8650, where intraday highs…
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Where we are: The Dow Jones cash index is currently trading at 51033, up 259 points on the day. Futures are a touch firmer at 51246, up 197 points, having traded in a range between 50999 and 51382. The index is building on Friday’s gains and continues to push higher, buoyed…
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Where we are: USD/CAD is currently trading at 1.3825, up 0.17% on the day. Intraday, we’ve seen a range of 1.3790 to 1.3839. The pair continues to struggle to break decisively above the 1.3800 handle, and is trending towards the upper end of its recent range, with prior NY close around…
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Where we are: Bitcoin currently trades at 72058, down 2.32% on the day, carving out a range of 71843-74094. The overnight dip accelerated in early European trade, piercing initial support near 72500. This puts BTC below Friday’s New York close and closer to the bottom of the established range. Ethereum is…
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Regime: Risk-on, supported by easing global inflation expectations as indicated by lower US 10Y yields and firm equities futures. Today’s market themes: ISM Day: US ISM Manufacturing PMI key for near-term Fed rate path signals. USD strength: DXY gains traction amid mixed global growth outlook, impacting emerging market stocks. Oil price…
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Where we are: The DXY is currently trading at 99.06, up 0.13% on the day, having carved out a 98.89-99.06 range so far. This pushes it above Friday’s close, driven by a moderate bid as EU cash markets progress. Focus remains squarely on the US data flow and whether it will…
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Where we are: The S&P 500 futures are currently trading at 7610.00, up 17.25 points, marking a 0.23% gain. The overnight range has been 7585.50-7622.00, with the index currently testing the upper end. Cash S&P sits at 7580.10. This price action extends the rally from Friday, fueled by ongoing strength in…
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Where we are: Gold (COMEX) is currently trading at 4531.9, down 0.49% on the day and near the bottom of its intraday range of 4519.3-4576.8. This price action represents a continuation of the downward pressure seen in late trading last week. The metal remains below the psychological 4550 level and well…
