• CHF Set for Further Weakness; SNB Easing Bias Firm – Tuesday, 19 May

    Snapshot: USD/CHF sits at 0.7878, up 0.44% on the session. The Swiss National Bank’s active easing posture, highlighted by the recent 25bp rate cut and ongoing readiness for FX intervention, continues to weigh on the Swiss Franc. Focus shifts to 10:00 ET US Pending Home Sales. Watch for any signals of…

  • Kiwi Vulnerable as RBNZ Easing Cycle Gathers Steam – Tuesday, 19 May

    Snapshot: NZDUSD is hovering around $0.584, pressured by a firmly entrenched RBNZ easing bias. The central bank cut rates by 25bp at its last meeting on April 9th, signalling further easing contingent on disinflation and labour market slack. Today’s US Pending Home Sales at 10:00 ET poses a moderate risk event.…

  • Guppy Primed for Further Upside on BoJ/BoE Divergence – Tuesday, 19 May

    Snapshot: GBP/JPY is steady around 194.20, building on yesterday’s gains. The BoE’s cautious stance, highlighted by the 8-1 vote to hold rates steady, continues to contrast with the BoJ’s slow normalisation bias, keeping upward pressure on the pair. This morning’s UK earnings data and claimant count will be key in shaping…

  • EUR/JPY Poised to Break Higher on BoJ Patience – Tuesday, 19 May

    Snapshot: EUR/JPY trades near 170.50, underpinned by the contrast between a still-dovish ECB and a cautiously hawkish BoJ. The ECB’s mild easing bias, evidenced by last month’s 25bp cut and retained meeting-by-meeting language, is the dominant driver. No high-impact US data is scheduled before the NY close. Watch 170.75; a break…

  • Brent Crude Under Pressure Amid Geopolitical Headlines – Tuesday, 19 May

    Snapshot: Brent is seeing pressure near $110 after Trump announced the shelving of military strikes against Iran and hopes for negotiation resumption; fresh waiver for Russian crude sales adding to supply. The Canadian CPI data due at 08:30 ET will provide an early steer to risk sentiment. A break below $108.50…

  • Euro/Sterling Remains Heavy on BoE Patience – Tuesday, 19 May

    Snapshot: EUR/GBP trades near 0.8530, little changed, as markets digest the BoE’s reluctance to cut rates aggressively. Focus remains on the UK labour market data due at 07:00 London. Claimant count change and Average Earnings Index will be key. Watch for a break below 0.8520, which could trigger further downside. Upside…

  • NY Session Tactical Brief – Monday, 18 May

    Regime: Risk-off, driven by rising real yields as 10Y TIPS push above 2% and oil climbs to $105, pressuring equities. Today’s market themes: Real-yield repricing and inflation fears weighing on risk assets. Geopolitical tensions in Middle East adding to oil supply concerns. Watch for signs of USD/JPY intervention as pair tests…

  • Dollar Struggles to Find Footing Amidst Yield Volatility – Monday, 18 May

    Where we are: The Dollar Index (DXY) is currently trading around 118.05, marginally higher after oscillating in a tight range overnight. Key technical levels to watch are 117.80 as support and 118.30 as resistance. The DXY remains near levels last seen in early May but is struggling to gain significant traction…

  • S&P 500 Under Pressure as Yields and Oil Climb – Monday, 18 May

    Where we are: S&P 500 futures are currently trading around 5285, down roughly 0.5% from Friday’s close. The overnight range has been relatively tight, but the downside bias is evident, reflecting concerns about rising yields and energy prices. We’re seeing some profit-taking after last week’s gains, particularly after the late pullback…

  • Gold Struggles as Real Yields Climb – Monday, 18 May

    Where we are: Gold is trading around $4,545, modestly above the overnight low, but still under pressure after last week’s nearly 4% decline. The yellow metal remains below key resistance at $4,560 and is struggling to gain traction ahead of the US open. The range has been relatively tight so far…

  • EUR/USD Remains Under Pressure as ECB Rate Cut Looms – Monday, 18 May

    Where we are: EUR/USD is currently trading around 1.1595, testing the lower end of its recent range. Overnight, the pair traded between 1.1585 and 1.1620. This level sits slightly below Friday’s New York close near 1.1610, signaling ongoing bearish pressure. A break below 1.1580 could open the door for further declines.…

  • Nasdaq 100 Faces Pressure as Yields Climb – Monday, 18 May

    Where we are: Nasdaq 100 futures are currently trading around 18,250, extending losses from last week’s pullback. The index is holding above the overnight low of 18,200 but remains well below Friday’s NY close of 18,350. This recent weakness follows a period of record highs, suggesting some profit-taking and a shift…

  • Cable Under Pressure as Political Risk Weighs – Monday, 18 May

    Where we are: GBP/USD is currently trading around 1.2585, testing the lower end of its recent range. Cable has traded in a tight overnight range of 1.2570-1.2610, and remains below Friday’s New York close of 1.2630. The pair is struggling to gain traction as political uncertainty and the potential for a…

  • Yen Vulnerable as Ueda’s Hawkish Rhetoric Fades – Monday, 18 May

    Where we are: USD/JPY is currently trading around 158.90, having tested the 159.00 level overnight. This marks a continued grind higher, with the pair pushing towards the intervention zone around 160.00. The overnight range has been relatively contained, and the current level is slightly above Friday’s New York close. What’s driving…

  • Dow Jones Under Pressure as Yields and Oil Climb – Monday, 18 May

    Where we are: Dow futures are currently trading around 39,850, slipping further into the red after an overnight range of 39,980-40,120. This puts the Dow on track to open lower than Friday’s New York close, continuing the late-week pullback. Resistance sits at 40,200, while initial support lies around 39,700. What’s driving…