-
Where we are: USDCAD is currently trading around 1.3790, consolidating gains made in the overnight session. The pair has been oscillating in a narrow range between 1.3770 and 1.3810, slightly above yesterday’s NY close. Technically, USDCAD is testing resistance at 1.3800, with support holding near 1.3750. What’s driving it: The Canadian…
-
Where we are: Bitcoin is trading around $66,850 as of 13:00 London, holding the level but looking heavy. The overnight range has been relatively tight, between $66,300 and $67,200. This level is slightly below yesterday’s New York close, suggesting some mild overnight selling pressure. What’s driving it: The lack of fresh…
-
Where we are: The FTSE 100 currently trades around 10,260, slightly below yesterday’s close, after a volatile session in Europe. The index is bouncing around a 50-point range established overnight, and needs to decisively break either 10,300 or 10,200 to signal the next leg. Prior NY close was around 10,300, so…
-
Snapshot: AUD/USD is soft, trading near the 0.6650 level, weighed down by the RBA’s cautious stance on inflation. The central bank remains reluctant to commit to a cut path, citing uneven progress on inflation and a tight labour market. All eyes will be on the 11:30 AEST Employment Change and Unemployment…
-
Snapshot: WTI crude futures are trading around $102, extending yesterday’s gains. Today’s primary focus will be the release of the FOMC Meeting Minutes at 14:00 ET, which could provide insights into the Fed’s assessment of inflation and its potential impact on future monetary policy and, consequently, economic growth and oil demand.…
-
Snapshot: The Nikkei 225 closed down 1.23% at 59,804, driven by a surge in Japanese government bond (JGB) yields to levels not seen since 1996. This hawkish shift is fueled by stronger-than-expected economic growth and increasing expectations of a Bank of Japan (BoJ) rate hike, possibly as early as next month.…
-
Snapshot: The DAX is struggling near 24,400 following the collapse of Europe’s largest office deal since 2022, weighing on sentiment. Focus turns to Commerzbank’s annual general meeting and its potential takeover by UniCredit. No major German macro releases are due before the US open. Watch for further downside if the DAX…
-
Snapshot: USD/CHF is holding near 0.7904, supported by the SNB’s easing bias. Schlegel’s recent comments about potentially returning to negative rates should disinflation overshoot is keeping pressure on the Franc. Focus shifts to the FOMC Meeting Minutes at 14:00 ET. Watch for any hawkish surprises in the FOMC minutes, which could…
-
Snapshot: NZD/USD is hovering around $0.583, pressured by the RBNZ’s dovish stance and a strengthening US dollar. The central bank’s easing bias, reinforced by Governor Orr’s recent signals of further rate cuts if disinflation persists, remains the dominant driver. Today’s FOMC Meeting Minutes at 14:00 ET could amplify existing trends. A…
-
Snapshot: GBP/JPY is currently bid around 194.20, building on earlier gains after UK CPI data surprised to the downside. Easing inflationary pressures reduce the urgency for further BoE tightening, although the MPC remains data-dependent. Watch 194.50, a break of which could trigger further upside. The 14:15 London Monetary Policy Report Hearings…
-
Snapshot: EUR/JPY is trading around 170.60, largely unchanged, as traders digest the prospect of further BoJ normalisation. The market’s focus is squarely on any signals reinforcing the case for another rate hike following the spring wage data. Risk sentiment is stable, with VIX at 17.82, providing little directional impetus. Watch 171.00;…
-
Snapshot: Brent is under pressure following reports of potential progress in US-Iran negotiations, with prices hovering around $109/bbl. The key event to watch today will be the release of the FOMC Meeting Minutes at 14:00 ET, which could further influence risk sentiment and the dollar. Watch for further headlines regarding Iranian…
-
Snapshot: EUR/GBP is trading around 0.8510, down roughly 30 pips after hotter-than-expected UK CPI data this morning. The data has tempered expectations of a near-term Bank of England rate cut, contrasting with the ECB’s recent easing. Focus shifts to the Monetary Policy Report Hearings at 14:15 London. Watch for a break…
-
Regime: Mixed — VIX at 18.43 signals ongoing unease, but rising US yields underpin USD strength, offsetting risk aversion. Today’s market themes: USD dominance: Rising US yields and safe-haven demand continue to buoy the Dollar across the board. Inflation watch: Canadian CPI data offers key test for BoC rate-cut expectations. Positioning…
-
Where we are: The Dollar index is holding firm around 119.30, consolidating gains after the recent surge fueled by geopolitical tensions and rising US yields. Overnight, the DXY saw a narrow range, oscillating between 119.15 and 119.45. This level sits well above Friday’s close, underpinned by persistent safe-haven demand and a…
