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Snapshot: NZD/USD grinds near $0.585, pressured by the firmly entrenched RBNZ easing bias. Last month’s 25bp rate cut to 3.50% and Governor Orr’s signal of further cuts if disinflation embeds remains the dominant driver. No fresh domestic data to shift the dial today. Watch for support near $0.5825, a break of…
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Snapshot: GBP/JPY trades near 192.80, largely unchanged on the session. BoJ board member Masu’s overnight comments reiterating the central bank’s commitment to slow normalisation is the key driver. Resilient UK wages continue to support Sterling but face increasing headwinds from Yen strength. Watch for any follow-through from Masu’s speech, particularly around…
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Snapshot: EUR/JPY trades near 170.80, up ~0.2% on the session, buoyed by rising expectations of a further Bank of Japan rate hike this year. Recent hawkish comments from BoJ board member Masu, alongside persistent yen weakness, reinforces the narrative of slow policy normalisation. Focus remains on spring wage data and potential…
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Snapshot: Brent is bid at $108, up on the session, driven by ongoing supply concerns as the Strait of Hormuz remains effectively closed. Geopolitical risk is the dominant factor, outweighing broader macro concerns. Watch for further escalations in the Middle East, as any new developments will likely exacerbate supply anxieties and…
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Snapshot: EUR/GBP is trading around 0.8535, down 0.2% in early trade, driven by persistent hawkishness from the Bank of England relative to the ECB. The UK unemployment rate’s surprise drop to 4.9% continues to support Sterling, overshadowing earlier CPI concerns. Watch 0.8500; a break confirms the bearish trend. Risk: Services CPI…
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Regime: Mixed; VIX at 17.99 with US yields rising slightly and the DXY consolidating gains around 118.15 indicates a tentative risk-neutral stance. Today’s market themes: Trump-Xi meeting impact: assessing US-China trade and oil relationship, especially regarding Iran sanctions. US Retail Sales: markets are awaiting direction with Retail Sales release. Crowded trades:…
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Where we are: The dollar index is trading near 118.15 in early New York trading, consolidating gains after a firmer overnight session. The DXY continues to benefit from the hawkish repricing, hovering near its highest levels since last week. Key resistance remains at 118.50, with support around 117.80, roughly where it…
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Where we are: S&P 500 futures are trading around 5345, inching higher after an overnight range between 5330 and 5350. This puts the contract comfortably above yesterday’s NY close and suggests the cash market is set to open at new all-time highs. The risk tone remains constructive, mirroring the late-day bid…
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Where we are: Spot gold trades near $4,690, consolidating after a slight pullback in European hours. Overnight range has been contained, and the price is just below yesterday’s New York close. Bullion remains below the key $4,700 resistance level, struggling to gain upward traction. What’s driving it: Rising US real yields…
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Where we are: EUR/USD is trading around 1.1705, holding above yesterday’s close but still capped by the recent three-week high seen last week. The overnight range has been relatively tight, between 1.1690 and 1.1720. A break below 1.1680 would signal a potential retest of the 1.1650 level, while a push above…
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Where we are: The Nasdaq 100 futures are consolidating gains after yesterday’s record close. Intraday, the index is trading around 19,045, holding onto the momentum fueled by tech sector strength. This is notably above the prior New York close and within striking distance of fresh all-time highs, showing resilience in the…
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Where we are: GBP/USD is currently trading around 1.2480, hovering near its weakest level since late April. The pair traded in a tight overnight range of 1.2460-1.2500, and is slightly below yesterday’s New York close of 1.2495. The 1.2450 level remains key support, with a break opening the door to further…
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Where we are: USD/JPY is trading around 157.80, extending its overnight grind higher after failing to break conclusively below 156.00 in the prior session. The pair remains within spitting distance of levels that triggered heavy intervention earlier this month. The overnight range has been relatively contained, with key resistance still looming…
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Where we are: Dow futures are pointing to a positive open, trading around 50,150, fueled by strong tech earnings. This puts the index on track to surpass its all-time high. The overnight range has been relatively tight, consolidating gains from yesterday’s session. Currently, the Dow is well above yesterday’s NY close,…
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Where we are: USDCAD is currently trading around 1.3715, testing the upper end of its recent range. The pair traded sideways overnight, contained between 1.3680 and 1.3730. This level is a touch weaker than the prior NY close, reflecting the continued headwinds facing the Canadian Dollar. What’s driving it: The Canadian…
