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Snapshot: The Nikkei 225 surged past 65,000, driven by optimism surrounding potential US-Iran talks and a subsequent decline in oil prices. The surge reflects a positive shift in risk sentiment, with tech stocks leading the charge. Breaching 65,000 signals strong upward momentum, potentially targeting the 65,500 level. A sharp reversal in…
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Snapshot: The DAX is pushing higher, trading around 25,000, fuelled by easing inflationary pressures within the Eurozone. German HICP decelerated to 2.0% YoY, down from 2.6% previously, bolstering sentiment. Positive developments in US-Iran talks, potentially reopening the Strait of Hormuz, are adding to the risk-on mood. Watch for follow-through above 25,000,…
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Snapshot: USDCHF is little changed this morning despite broader USD strength; the pair is hovering around 0.78. The dominant driver remains the SNB’s active easing posture, with the potential for further rate cuts or FX intervention. Focus remains on Schlegel’s explicit nod to FX intervention readiness. Watch for any hawkish repricing…
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Snapshot: The New Zealand Dollar is trading under pressure as the market anticipates further easing from the Reserve Bank of New Zealand, with another rate cut priced for later in the year. Recent RBNZ communication has cemented this dovish bias amid slack in the labour market. The absence of fresh NZ…
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Snapshot: GBP/JPY trades near 193.40, pressured by a cautious Bank of England stance despite recent softer inflation prints. The central bank’s reluctance to pivot to rate cuts amid sticky services CPI is weighing on Sterling against the Yen’s slow-normalization bias. Keep an eye on broader risk sentiment as well, with VIX…
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Snapshot: EUR/JPY is trading around 170.50, marginally higher, driven by the perceived dovishness of the ECB relative to the BoJ. While the ECB delivered a 25bp cut last month, signalling potential for further easing, the BoJ remains cautious, maintaining its 0.50% rate and only hinting at future hikes if economic projections…
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Snapshot: Brent Crude futures are trading sharply lower, extending overnight losses, currently near $98/bbl. The primary driver is growing optimism surrounding a potential US-Iran peace deal, raising the prospect of increased oil supply and easing geopolitical tensions in the Strait of Hormuz. Watch for a break below $97/bbl, opening the door…
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Snapshot: EUR/GBP is trading around 0.8510, down 0.15% on the session, driven primarily by diverging central bank outlooks. The BoE’s reluctance to cut rates amidst sticky services inflation contrasts with the ECB’s mild easing bias following their recent 25bp cut. Focus shifts to potential hawkish signals from BoE speakers today. Key…
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Regime: Mixed — VIX steady at 17.44 despite higher oil and Dow futures, indicating risk appetite remains selective and rate-sensitive. Today’s market themes: USD Strength: DXY supported by relatively hawkish Fed pricing. Oil Volatility: Geopolitical tensions and inventory concerns drive swings. Data Dependence: Retail sales releases in GBP and CAD in…
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Where we are: The DXY is holding steady near recent highs at 99.30 in pre-market trading, consolidating after yesterday’s mixed session. The index remains within striking distance of the six-week high printed earlier in the week, supported by a relatively hawkish Fed narrative. We saw a modest overnight range, contained by…
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Where we are: S&P 500 futures are up around 0.4% as we head into the New York open, holding onto gains from the previous session. The index is attempting to consolidate above 5300 after a volatile week, supported by strength in the tech sector. This level puts it comfortably above yesterday’s…
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Where we are: Gold is currently trading around $4,520, consolidating gains after a choppy overnight session. Bullion found support near $4,490, holding above the prior NY close of $4,515, and is testing resistance near the $4,530 level as Europe unwinds. What’s driving it: The primary driver for gold remains the continued…
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Where we are: EUR/USD is currently trading around 1.1605, testing the lower end of its recent range. Overnight, the pair remained largely contained between 1.1590 and 1.1620, failing to capitalize on the mild risk-on sentiment seen in Asia. This level is significantly below the prior NY close, highlighting the persistent selling…
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Where we are: The Nasdaq 100 futures are holding steady this morning, trading around the 19,800 level, within the overnight range. While the index saw some softness yesterday, it is still tracking to open near the highs of the week. The overnight range has been relatively tight, and we’re seeing some…
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Where we are: GBP/USD is currently trading around 1.3405, pressured after disappointing domestic data. The pair traded in a tight overnight range of 1.3400-1.3430. This is below yesterday’s New York close around 1.3420, suggesting the intraday bias is bearish. Key support lies at 1.3370, with resistance around 1.3450. What’s driving it:…
