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Snapshot: WTI Crude is down sharply at 95.21, a -7.34 decline, driven by speculation of a US-Iran deal that could ease tensions and boost supply. The potential agreement is already weighing on prices, with WTI breaching the $100 level. Watch for a test of the 88.71 intraday low; break there confirms…
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Snapshot: The Nikkei 225 is trading at 59513, up 0.23% on the day. JGB yields are little changed with the 10-year holding at 2.502%, offering little directional impetus. Absence of fresh domestic macro catalysts leaves the index to track offshore sentiment. Watch 59707 as intraday resistance. A sharper pullback in US…
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Snapshot: The DAX is trading at 24927, up 1.16% as German yields sharply decline following ECB commentary and stable wage data. Focus remains on earnings as hopes of a US-Iran deal fuel risk appetite. A break above 25,000 would open the door to further upside. Watch US yields for any reversal…
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Snapshot: USD/CHF trades at 0.7792, down 0.50% on the session. The Swissy gains as the SNB’s recent rate cut and continued openness to further easing, potentially even a return to negative rates, weighs on the currency. The US ADP employment change at 08:15 ET could offer a short-term counter-move. Watch for…
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Snapshot: NZD/USD is trading at 0.5961, up 1.26% on the day, driven by broad risk appetite. RBNZ Governor Breman is scheduled to speak twice today, which will be key for near-term direction. The speeches are scheduled at 09:10 NZT and 13:00 NZT. Watch 0.5990 as near-term resistance. Potential for volatility around…
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Snapshot: GBP/JPY trades at 212.59, down 0.58% on the session, as UK 2Y yields plummet 12bp. Attention will turn to any BOE commentary on the recent exchange of letters regarding the Asset Purchase Facility. No UK data today. Watch for a break of 210.78 intraday low to confirm further downside momentum.…
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Snapshot: EUR/JPY trades at 183.61, down 0.55% today. ECB’s mild easing bias, reinforced by recent wage tracker data and Cipollone’s energy shock comments, weighs on the Euro. All eyes now on US data releases. Watch for a break of 182.06, intraday low. Risk: BoJ intervention if Yen weakness intensifies. Bias into…
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Snapshot: Brent crude is trading at 103.09, down 4.31% on the session, as reports surface of a potential US-Iran deal to ease tensions. These reports have overshadowed any underlying supply concerns. Watch the 08:15 ET ADP Non-Farm Employment Change for potential directional cues. Key support lies at the overnight low of…
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Snapshot: EUR/GBP is currently trading at 0.8637, up marginally by 0.02% on the day. The primary driver remains the divergence in monetary policy between the ECB and the BoE, with the ECB recently cutting rates while the BoE maintains a cautious stance. The ECB’s wage tracker indicating stable negotiated wage pressures…
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Regime: Risk-on, as S&P 500 futures test overnight highs and the VIX remains subdued below 17 despite geopolitical headlines and upcoming data. Today’s market themes: RBA Rate Hike: Market anticipating an aggressive RBA hike, driving AUD strength and potential impact across Asia-Pac FX. ISM Services & JOLTS: US economic data to…
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Where we are: The DXY is currently trading at 98.26, up 0.26% on the day, having traded in a range of 97.83-98.42 so far. The index is testing resistance around the 98.00 level and has pushed higher against the prior NY close of 118.3926 (USD Broad Index). Bullish momentum is building.…
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Where we are: S&P 500 futures are trading at 7261.75, up 32.25 points (+0.45%) and testing the overnight high of 7269.00. Cash closed yesterday at 7200.80, well below Friday’s record, but futures are attempting to build on the overnight recovery. The overnight range has been contained above 7224.00, suggesting some bottom-picking…
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Where we are: Gold is currently trading at 4573.8, up 0.90% on the session, finding support after yesterday’s dip. The intraday range has been relatively wide, from 4522.9 to 4585.0, suggesting continued volatility. This price action puts it well above yesterday’s close and near the high of the session. What’s driving…
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Where we are: EUR/USD currently trades at 1.1691, barely changed on the day (+0.01%), trapped within a tight intraday range of 1.1677-1.1698. This level is a whisker above yesterday’s NY close. The pair is struggling to gain traction, weighed down by a strengthening dollar. What’s driving it: The Euro’s outlook is…
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Where we are: Nasdaq futures are trading at 27979.00, up 0.79% and near the session high of 28003.50. This follows a mixed cash session yesterday and a weaker close, although futures have gapped up overnight. Resistance is clearly forming around the 28,000 level, which has so far capped gains, while support…
