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Where we are: USD/CAD is currently trading at 1.3603, down 0.56% on the day. The pair broke lower in European morning trade after consolidating in a narrow range overnight, supported by the bottom end of the day’s range at 1.3598. This move erases Friday’s gains and puts USDCAD back near the…
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Where we are: Bitcoin currently trades at $77,693, down $708 or 0.9% on the day, trading within a $77,494-$79,497 range. BTC is underperforming Ethereum which is down 2.08%. Bitcoin is finding support ahead of the $77,000 level after a strong run. This consolidation is occurring as the DXY weakens to 98.14…
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Where we are: The FTSE 100 is barely clinging to positive territory, currently trading at 22590, up just 7 points or 0.03% on the day. After a weak open in Asia, the index remains near a three-week low. The intraday range has been a tight 22582-22682. The flat performance mirrors a…
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Snapshot: AUD/USD is trading at 0.7188, up 0.65% on the session, driven by surging energy prices and expectations of further RBA rate hikes. The US-AU 10Y yield spread sits at -65bp, widening slightly in favor of the Aussie as US yields remain relatively contained. Watch for resistance around 0.7200, a break…
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Snapshot: WTI Crude is currently trading at $96.23, up 0.61% on the session, driven primarily by continued uncertainty surrounding the Strait of Hormuz. The DXY is slightly softer at 98.14, offering minor support, but the geopolitical premium is the dominant driver. $97.10 represents the intraday high; a break above would signal…
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Snapshot: The Nikkei 225 is up 1.18% to 60537, driven by robust technology sector gains. Today’s catalyst was the BOJ announcements, which largely affirmed the status quo despite geopolitical risks. Break above 60,897 signals further upside potential. Watch for geopolitical headlines and potential risk-off flows pressuring tech, especially with elevated VIX…
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Snapshot: The DAX is up 0.28% at 24262, buoyed by reports of a potential peace proposal from Iran. This optimism is overshadowing concerns about tighter lending conditions highlighted by the ECB’s survey. Resistance seen at intraday high of 24380; break above would invite further upside. Watch for any headlines undermining the…
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Snapshot: USD/CHF trades at 0.7845, down 0.09% on the session, driven by a weaker DXY which sits at 98.14. Upward pressure on US 10Y yields, currently at 4.323%, is failing to offer sufficient support to the pair as the dollar broadly softens. Focus shifts to US data due this afternoon. Watch…
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Snapshot: NZD/USD is currently trading at 0.5916, up 0.82% on the session, driven by reports suggesting a potential easing of tensions in the Middle East. This optimism is overshadowing higher-than-forecast New Zealand inflation data from last week. Watch resistance at 0.5922, today’s high. Downside risk comes from the fragility of the…
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Snapshot: GBP/JPY trades at 215.70, up 0.05% after the BOJ held steady at
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Snapshot: EUR/JPY trades at 187.00, up 0.09% on the session, driven by persistent risk appetite despite a slightly weaker dollar. The BOJ’s overnight decision to hold steady on rates is a key driver, failing to provide any hawkish catalyst for the Yen. Resistance sits near the intraday high of 187.07. Watch…
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Snapshot: Brent is trading at $101.05, marginally lower on the day, but the unraveling of US-Iran peace talks is the dominant driver. This morning’s newsflow of stalled negotiations and Tehran’s hardline stance reinforces supply-side concerns, potentially reigniting bullish momentum. Monitor the response to any further headlines as that situation develops. Breaching…
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Snapshot: EUR/GBP sits at 0.8669, up 0.04% with a tight daily range. Euro strength is limited by the ECB’s reported tightening of lending conditions, offsetting DXY weakness and a mild risk-on tone in equities. US data will be the key catalyst today. Watch for a break of the 0.8671 intraday high.…
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Today’s market themes: Iran talks: Shifting expectations for US-Iran negotiations drives swings in oil and risk sentiment. Dollar weakness: Broad USD selling pressure continues, impacting FX crosses and commodity prices. Tech rebound: Nasdaq leading equities higher, fueled by a rotation back into growth and mega-cap stocks. The setup: Equities are bid…
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Where we are: The DXY is currently trading at 98.36, down 0.31% on the session and near the low end of its intraday range of 98.32-98.75. This represents a notable shift from the previous New York close, and the dollar index has given up a good portion of its weekly gains.…
