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Where we are: Bitcoin is currently trading at $76139, down $658 or 0.86% on the day, having traded in a range of $75971 to $77477. This represents a slight pullback from yesterday’s close, with the broader crypto market also showing weakness; Ethereum is down 0.82% at $2269. BTC remains well within…
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Where we are: The FTSE 100 currently trades at 22421, down 164 points or -0.72% on the session. Intraday, we’ve ranged from 22390 to 22584, failing to hold yesterday’s New York close. The index continues to suffer, marking what could be the seventh consecutive day of losses should this weakness persist…
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Snapshot: AUD/USD trades at 0.7164, down 0.31% on the session. The market is braced for the 11:30 AEST CPI release, which could unlock a May or July RBA rate hike if trimmed-mean inflation prints softly. Copper prices are also exerting downside pressure, trading at 597.50, down 1.76%. Aussie bulls will be…
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Snapshot: WTI crude is trading at $99.78, up $3.31 or 3.43% on the session, boosted by persistent supply concerns following the UAE’s withdrawal from OPEC and ongoing tensions surrounding the Strait of Hormuz. The CB Consumer Confidence release at 10:00 ET will be closely watched for potential demand implications. WTI’s break…
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Snapshot: The Nikkei 225 is down 1.01% to 59917, pressured by the Bank of Japan’s decision to hold its policy rate unchanged at <0.75%. Three board members advocating for a rate hike highlights growing concern over inflationary pressures. The BOJ’s Outlook Report is due at 12:04 JST. Watch for a break…
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Snapshot: The DAX is currently trading at 24020, down 48 points or 0.20% intraday, weighed down by tighter lending conditions and recent ECB surveys suggesting a cautious outlook. The lack of progress in US-Iran negotiations and rising oil prices are adding to the downward pressure. No major data releases are scheduled…
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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…
