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Snapshot: USD/CHF trades at 0.7904, up 0.64% today, driven by the SNB’s active easing stance. Schlegel’s recent comments did not rule out a return to negative rates if disinflation persists, reinforcing the dovish outlook. Today, watch for the 10:00 ET release of US CB Consumer Confidence. CHF strength remains a key…
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Snapshot: NZD/USD is currently at 0.5875, down 0.55% on the day, as the market continues to price in further easing by the Reserve Bank of New Zealand. Governor Breman’s speech at 12:30 NZT will be closely watched for any hints of a shift in policy or reaction to currency weakness. A…
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Snapshot: GBP/JPY trades at 215.19, down 0.27% intraday, as markets digest the BoJ’s decision to hold rates at 0.50%. With no change in the BoJ’s outlook, and a focus on Yen weakness, the pair faces a headwind ahead of the 03:30 ET press conference. Watch for any shift in tone from…
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Snapshot: EUR/JPY trades at 186.56, down 0.17% on the session, pressured by expectations surrounding today’s Bank of Japan policy decision. The BoJ is expected to hold rates steady, but any hawkish tilt in the Outlook Report or Monetary Policy Statement at 12:04 JST could trigger a further downside move. Focus shifts…
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Snapshot: Brent crude is trading at $104.48, up 2.57% after news broke that the UAE will leave OPEC. The move underscores long-standing frustrations with production quotas and is expected to ease global supply constraints. Focus now shifts to the US CB Consumer Confidence release at 10:00 ET. A break above $105.81,…
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Snapshot: EUR/GBP currently trades at 0.8670, up 0.10% on the day. The dominant driver remains the divergence in central bank outlooks, with the BoE perceived as increasingly likely to cut rates sooner than the ECB. Today’s ECB surveys provide little impetus for a change in outlook. Watch for resistance around 0.8678,…
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Today’s market themes: Iran tensions easing: potential peace proposal buoying risk assets, weighing on oil. BOJ hold: yen weakness continues post-policy announcement. Crowded positioning: squeeze risk in USD, JPY, AUD, BTC, and Copper. The setup: The market is pricing in reduced geopolitical risk following reports of a potential peace proposal from…
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Where we are: The DXY currently trades at 98.14, down 0.28 after an overnight range of 98.03-98.48. The Greenback is underperforming against most G10 currencies as risk sentiment improves slightly ahead of the New York open. This puts the index well below Friday’s close, continuing the downward trend. What’s driving it:…
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Where we are: S&P 500 futures currently trade at 7191.50, up 0.10% on the day and near the top of today’s 7172.00-7208.25 range. Cash SPX closed Friday at a record, and futures are consolidating those gains in thin pre-market trade. We’re seeing some consolidation after that ninth record close, but the…
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Where we are: Gold (COMEX) currently trades at $4714.0, down $2.1 or -0.04% on the day, holding above overnight lows of $4686.7 but well off the high of $4745.6. The slight weakness comes after a four-week winning streak, although last week saw a 2.5% decline. Gold is softer in Asia after…
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Where we are: EUR/USD is currently trading at 1.1745, up 0.31% on the session, after printing a day range of 1.1705-1.1755. The pair has recouped some of last week’s losses, finding support near the 1.17 level. This bounce coincides with a broader weakening of the US Dollar, as the DXY trades…
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Where we are: Nasdaq futures are currently trading at 27431.25, up 0.14% on the session, having traded in a tight 27345.75-27541.00 range overnight. This sits just below the upper end of that range, and implies a slightly softer open for the cash market which closed Friday near all-time highs. Despite the…
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Where we are: GBP/USD is currently trading at 1.3547, up 0.27% on the day, having printed a range of 1.3511 to 1.3576 so far. Cable is extending its gains from the Asia session, pushing through initial resistance at 1.3520. The move higher has been supported by broad dollar weakness as the…
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Where we are: USD/JPY currently trades at 159.22, down 0.35 from Friday’s close, after a volatile overnight session that saw a range of 159.10 to 159.60. The pair initially spiked higher following the BOJ decision before retracing to current levels. Despite the mild dip, we are still holding above the psychologically…
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Where we are: Dow futures are clinging to modest gains at 49347, up just 18 points, having traded in a narrow 49230-49384 range overnight. This is a whisker above Friday’s cash close of 49231. Cash opened sharply lower in Europe and has been making ground back toward the top of Friday’s…
