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Where we are: USD/JPY is currently trading around 159.05, edging lower after hitting intraday highs overnight in Asia. The pair remains elevated, threatening the prior intervention zone around 160.00. We’re well above the prior NY close as the market tests the BoJ’s resolve. What’s driving it: The prospect of further BoJ…
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Where we are: Dow futures are up 300 points at 39,800, building on yesterday’s gains and on track for a winning week. The index is pushing toward the psychological 40,000 level, having traded in a tight range overnight following yesterday’s rally, and is significantly above its prior NY close. What’s driving…
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Where we are: USDCAD is trading around 1.3660, consolidating after yesterday’s choppy session. The pair has largely traded within a tight 1.3640-1.3680 range overnight, and sits slightly above its prior NY close. Key resistance remains around the 1.3700 handle, while support is eyed near 1.3620. What’s driving it: The Canadian Dollar’s…
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Where we are: Bitcoin is currently trading around $68,050, having traded in a relatively tight $67,500-$68,500 range overnight. This is roughly in line with yesterday’s New York close, but the market remains tentative after failing to break convincingly above the $70,000 resistance earlier this week. We’re seeing muted price action across…
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Where we are: The FTSE 100 is currently trading around 10,475, down from its overnight high of 10,490. It’s holding above its intraday low near 10,460, but the index is under pressure as it struggles to maintain the gains seen earlier in the week. The current level is below yesterday’s New…
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Snapshot: The Australian Dollar is trading softer after a surprise rise in the Australian unemployment rate to 4.5%. The weak labour market data has dampened expectations for further RBA rate hikes. The U.S. Revised UoM Consumer Sentiment is due at 10:00 ET. A break below $0.7100 would signal further downside, potentially…
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Snapshot: WTI crude is trading softer after yesterday’s rally, pressured by renewed hopes of a US-Iran agreement which could ease supply concerns. Focus shifts to the 10:00 ET Revised UoM Consumer Sentiment release, which could influence risk appetite. Watch for a break below $95.00 which would open a retest of weekly…
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Snapshot: The Nikkei 225 is holding onto gains near 63,300, driven by continued optimism surrounding domestic technology and AI stocks, spurred further by SoftBank’s portfolio companies potentially pursuing US IPOs. Focus will remain on assessing the broader implications of BoJ Board Member Koeda’s speech in Fukuoka regarding economic activity, prices, and…
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Snapshot: The DAX is poised to close out the week with a 3.5% gain, currently trading around 24,800. The recent drop in Eurozone HICP to 2% is fueling hopes that the ECB may consider easing its monetary policy stance sooner than anticipated. Focus remains on geopolitical tensions and upcoming US data…
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Snapshot: USD/CHF is trading around 0.7861, marginally firmer. The dominant driver remains the SNB’s active easing posture, reinforced by Schlegel’s recent comments leaving the door open for a return to negative rates. Focus remains on the SNB’s willingness to intervene in FX markets. A break above 0.7880 would suggest further USD…
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Snapshot: NZDUSD holds near $0.587, pressured by the RBNZ’s firmly entrenched easing bias. The central bank, having already cut rates to 3.50%, has signaled further easing if disinflation embeds. Focus remains on the 10:00 ET Revised UoM Consumer Sentiment print. RBNZ easing bias remains the dominant driver, with markets anticipating further…
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Snapshot: GBP/JPY is trading around 192.35, marginally lower on the session, as dovish repricing of the BoE’s rate path continues to weigh on Sterling. Today’s UK retail sales print at 07:00 London will be key to gauging consumer resilience. Support lies near 191.80, the overnight low, a break of which could…
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Snapshot: EUR/JPY is trading around 170.50, building on gains made earlier in the week. The pair is primarily driven by divergence in BoJ and ECB monetary policy stances, with the ECB recently cutting rates while the BoJ maintains a slow normalisation bias. Focus now shifts to incoming US data. Watch for…
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Snapshot: Brent is trading around $105.92, up 3.3% on the session, fuelled by supply concerns as global oil inventories decline. Analysts suggest gasoline, diesel, and jet fuel prices are set to rise in the coming weeks. The UK’s weak retail sales data showing drivers cutting back on fuel also highlights underlying…
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Snapshot: EUR/GBP is hovering near 0.8500, little changed on the session, as yesterday’s UK CPI data continues to support a hawkish repricing of BoE expectations. Today’s key event is the 07:00 London GBP Retail Sales print. The UK CPI report showed a notable drop in headline and core inflation, yet services…
