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Where we are: S&P 500 futures (ES) are holding steady near 5,485 during the London midday session, consolidating yesterday’s 1.0% cash rally that carried the index back above its 50-day moving average. Overnight volume has been thin with European cash indices trading mixed, keeping the active ES range restricted between 5,470…
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Where we are: Cable has caught a firm bid in European trade, recovering from its recent slide to trade just above $1.3200 as we approach the New York open. The pair bounced off overnight lows near $1.3160, staging a decent recovery after threatening to break key technical support at the $1.3150…
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Where we are: USD/JPY is hovering at 161.45, trading within a tense overnight range of 161.20 to 161.70 as Tokyo cash closes. This leaves the pair just below yesterday’s peak of 161.80—its weakest level since July 2024—and keeps the market locked in a high-stakes staring contest with the Ministry of Finance.…
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Where we are: US30 futures are hovering around the 39,120 mark, consolidating yesterday’s modest 72-point cash gain in quiet, pre-holiday trade. The overnight range has been exceptionally tight, bounded by 39,050 and 39,200, as traders manage thin liquidity with US cash markets closed today. This leaves the index sitting comfortably above…
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Where we are: USDCAD is grinding toward the top of its range at 1.4115 as the European morning draws to a close, hovering just below multi-month highs. We saw a tight overnight range of 1.4080 to 1.4135, consolidating yesterday’s hawkish Fed-driven impulse. Immediate technical resistance stands at 1.4150, while downside protection…
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Where we are: Bitcoin (BTC/USD) is pressing lower this morning, trading at $64,850 during the London session as the overnight range of $64,600 to $65,400 keeps bulls on the defensive. This leaves the pair testing yesterday’s NY close near $65,100, where overhead resistance is solidifying. A sustained break below the $64,500…
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Where we are: The Footsie is grinding higher toward the 8,230 level as the London session progresses, clawing back some of the losses that have left the index down 0.5% on the week. This intraday bid follows a constructive morning cash session where early seller exhaustion near the 8,180 support zone…
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Snapshot: AUD/USD is trading heavy below the 0.7050 level, pinned near ten-week lows as markets dial back expectations of further RBA tightening. The RBA’s cash rate remains on hold at 4.10% with Governor Bullock emphasizing uneven progress on services inflation, though traders have trimmed the probability of another hike to just…
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Snapshot: WTI crude has steadied near $77 per barrel, on track for a painful 10% weekly decline as physical shipping flows through the Strait of Hormuz show tentative signs of normalization. The successful transit of nearly 10 million barrels yesterday, which featured the first Saudi-owned tankers moving since the conflict began…
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Where we are: Bullion is trading heavily at the London midday, pinned near $4,150 per ounce as we prepare for the New York open. This print marks a fresh weekly low and puts XAU/USD on track for its third consecutive weekly decline. The overnight session saw the yellow metal capitulate through…
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Snapshot: The Nikkei 225 closed Friday up 0.28% at 71,250, cementing a stellar 8% weekly gain as May’s core inflation printed steady at 1.4%. This in-line CPI release, paired with cautious policy minutes from the Bank of Japan’s April meeting, suggests the central bank remains in no rush to aggressively tighten,…
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Snapshot: The DAX 40 has paused its six-day winning streak, trading just below the key 25,000 level as a heavy 4% ex-dividend drop in Volkswagen offsets upgraded European equity targets from Goldman Sachs and Barclays. Domestic disinflation remains firmly on track with German and Eurozone HICP both printing at 2.0%, keeping…
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Snapshot: USD/CHF is testing the 0.8000 handle as the Swiss Franc captures a strong safe-haven bid following the abrupt cancellation of the US-Iran peace talks in Obbürgen. This geopolitical flare-up cements the Franc’s appeal, coming right after the SNB held its policy rate steady but left negative-rate optionality firmly on the…
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Snapshot: NZD/USD is pinned near its two-month low of 0.5730, weighed down by the RBNZ’s active easing bias following its recent cut to 3.50% and a weak Q1 GDP print of 0.8% that missed policy forecasts. Lacking fresh domestic catalysts on today’s calendar, the currency remains highly sensitive to external risk-off…
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Snapshot: GBP/JPY maintains a firm bid this morning as sticky UK core inflation, which ticked up to 2.6% in May, keeps the Bank of England reluctant to commit to a rate-cutting cycle. This hawkish domestic bias contrasts with the Bank of Japan’s ultra-slow 0.50% normalisation path, reinforced by yesterday’s monetary policy…
