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Where we are: USDCAD is trading at 1.3690, consolidating within a narrow range after a muted overnight session. The pair is hovering near the upper end of its recent range, still unable to decisively break above the 1.37 level. This is slightly weaker than Friday’s NY close, suggesting some mild profit-taking…
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Where we are: BTCUSD is currently trading around $61,500, modestly lower on the session. Overnight range was relatively contained, between $61,000 and $62,000. This level sits slightly below Friday’s New York close, suggesting some early softness ahead of the US open. Key support remains around $60,000, with resistance building near $63,000.…
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Where we are: The FTSE 100 is trading flat around 8,420 in early London trading, contained within a narrow 20-point overnight range. This is slightly below Friday’s New York close of 8,430, with initial support around 8,400 and resistance at 8,450. What’s driving it: The UK domestic picture is mixed. While…
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Snapshot: AUD/USD trades heavy near 0.7100, pressured by a hawkish RBA stance and crowded long positioning. Despite holding rates at 4.10% at their last meeting, Bullock’s comments that inflation progress remains ‘uneven’ keeps traders cautious and unwilling to aggressively price in cuts. The lack of a firm commitment to a cut…
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Snapshot: WTI crude futures are trading near $105 per barrel, after an earlier spike above $108. Geopolitical tensions in the Middle East are the primary driver, threatening potential supply disruptions. Watch for escalations around the Strait of Hormuz, which could send Oil sharply higher. A temporary waiver of US sanctions on…
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Snapshot: The Nikkei 225 closed down almost 1% overnight at 60,816, pressured by escalating Middle East tensions and spillover from Friday’s Wall Street selloff. The absence of fresh domestic catalysts leaves the index vulnerable to risk sentiment in the NY session. Watch for a break below 60,500 as an initial signal…
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Snapshot: The DAX is under pressure, trading near 23,750 (-0.5%) following lower-than-expected German and Eurozone HICP prints indicating easing inflationary pressures, compounded by rising geopolitical tensions stemming from US-Iran war threats. Focus shifts to US data later today. Watch 23,600 support; break opens a move to 23,400. Escalating geopolitical tensions remain…
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Snapshot: USD/CHF sits near 0.7847, down 0.25% from Friday. The Swiss Franc finds support in the SNB’s cautious approach to further easing, despite recent rate cuts. The market is pricing in continued vigilance from Schlegel and his team. Watch for potential SNB FX intervention signals if USD/CHF tests lower towards 0.7800;…
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Snapshot: NZD/USD sits near $0.584, pressured by the RBNZ’s firmly intact easing bias and recent data pointing to weakening economic momentum. Orr signalled further easing at the last meeting if disinflation embeds, setting the stage for potential further downside. The next RBNZ meeting is on May 28. Watch for any signs…
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Snapshot: GBP/JPY trades near 192.50, pressured by a cautious Bank of England stance and rising intervention risks from the Bank of Japan. The BoE’s reluctance to signal rate cuts amidst sticky services inflation is weighing on Sterling. Today’s focus shifts to potential BoJ communication as Yen weakness persists. Watch for a…
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Snapshot: EUR/JPY is trading around 170.00, down 0.15, weighed by increasing speculation of a Bank of Japan (BoJ) rate hike following robust wage data. With the ECB retaining a mild easing bias and the BoJ hinting at further tightening, the policy divergence suggests continued pressure on the cross. Key signal: Watch…
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Snapshot: Brent crude trades near $102, easing from earlier highs, as escalating tensions in the Middle East offset optimism from potential US-Iran talks. Trump’s warnings to Iran and continued blockage of Iranian ports amplify supply concerns, overshadowing reports of a proposed temporary waiver on oil sanctions. Watch for further escalation of…
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Snapshot: EUR/GBP is holding steady near 0.8530, consolidating recent gains as markets weigh the diverging outlooks for the ECB and BoE. UK macro data continues to present a mixed picture, while the ECB is signalling further easing is possible. All eyes on the incoming US data at 08:30 ET. Look for…
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Regime: Risk-off, driven by rising oil prices and inflation worries spooking bond markets, pushing US 2Y yields to 3.98%. Today’s market themes: Oil supply scare: Strait of Hormuz tensions driving WTI above $104, fueling inflation concerns. Global bond selloff: Rising oil and inflation fears triggering broad-based bond yield increases. USD strength:…
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Where we are: The DXY currently trades around 99.00, near the upper end of its overnight range. This marks a significant move higher from yesterday’s New York close, and puts the Dollar on track for its best weekly performance since March. Key resistance lies at the 99.20 level, a break of…
