GBP/USD made a reasonably contained move yesterday due to the Dollar rally. Still, it failed to break above the psychological resistance level at 1.3900 in its attempt to resume the recovery from the three-month low at 1.37316 and eventually ended up closing the day lower to print a mixed picture of price action.
Although the pound tries to bounce, the downside bias persists as long as the Pound/Dollar has been trading below the 100-day and 50-day EMA.
Investors await the US JOLTs job opening report today later, which is expected to show another increase to 9.388 M.
Also, the Fed will publish the minutes of its latest meeting in Jun. They opened up a debate on reducing asset purchasing in the last meeting but the recent disappointing US data have investors wondering about the timing of tapering and ruling out an interest rate hike.
In anticipation of Thursday's reading of U.S. consumer prices, European markets are likely to open higher. It is expected that traders from New York to London will be glued to their screens Thursday afternoon as they await the latest consumer price index reading from the Labor Department, which is due to be released at 13:30 GMT. In fact, many will be watching trading closely before the number...
As investors prepare for further inflation data this week, the European markets opened mixed, with the U.S. consumer price data for December due on Thursday. On Wednesday, the US dollar traded largely flat in Europe, as risk sentiment rose, but attention remained firmly focused on the release of key US inflation data. A measure of the greenback's position against a basket of six other curre...
Although China has pivoted away from its strict zero-COVID policy, investors are still concerned that the unprecedented flow of Chinese travellers may lead to another infection surge due to the massive flow of tourists. In addition, the protracted war between Russia and Ukraine has sparked concerns about a deeper downturn in the global economy, as a result of the prolonged conflict. As a result, r...
A further reopening of the Chinese economy buoyed market sentiment at the start of the new trading week as European markets opened higher as we entered the first day of the week. The move came after US stocks rose on Friday amid signs that inflation may be cooling after the December jobs report and an economic activity survey showed that inflation may be cooling. This indicates that the Federal Re...
On Friday morning, several European markets are cautiously higher as investors await the release of key inflation data for the eurozone. This data is expected to show a further slowdown in consumer price increases. This puts the release of Eurozone inflation data later in the session in the spotlight. Eurozone inflation The consumer price index for the eurozone is scheduled for release late...
As investors digest the broadly hawkish tone of the minutes of the last Federal Reserve meeting, ahead of jobs reports in the US, European stock markets are expected to open marginally lower Thursday morning. There will be a release of the November Eurozone Producer Price Index later in the session, which will provide more insight into the direction of inflation in the eurozone. As a result...
There was a decline in the US dollar on Wednesday, which resulted in the dollar giving back some of the gains it had made in the previous session. It is believed that the minutes of the Federal Reserve's December meeting will provide traders with some key clues about future U.S. monetary policy. This year started with a flurry of economic data. European stocks closed higher on Tuesday, help...
Tuesday is likely to be a mixed day for European stock markets, as investors get back from the holiday period and take a close look at the economic outlook for the year ahead. German unemployment and inflation data for December, as well as the UK manufacturing PMI for December, are expected to provide further evidence of Europe's economic slowdown. As expectations grew that US interest r...
The dollar index is little traded on Monday because most countries are celebrating their new year's holidays. However, the greenback gained nearly 8% in 2022 after the Federal Reserve decided to embark on one of its most aggressive rate-hike cycles in history to curb runaway inflation. Even so, the dollar has been weakening in recent months after data indicated that U.S. inflation is likely...
As traders attempt to gauge the likely path the Federal Reserve is likely to take in tightening policy in the new year, the US dollar slipped lower during early European trade Friday, handing back some of the previous session's gains. The Dollar Index, a measure of how the greenback compares with a basket of six other currencies, fell by 0.2% to 103.877 in early trade on Friday. The dollar...
As investors digest the latest growth data from the UK and attempt to end the year on a positive note, European stock markets are expected to continue to move marginally higher on Thursday. With the holiday season fast approaching, European markets have shown a sense of optimism. Equities soared Wednesday due to a slight improvement in German consumer sentiment, followed by a rebound in consume...
As consumer sentiment in Germany, the dominant economy of the Eurozone has picked up in recent days, the stock markets are expected to open higher on Wednesday. This follows the previous session's weakness. There was a 0.7% increase in the DAX futures contract in Germany, a 0.4% increase in the CAC 40 futures contract in France, and a 0.4% increase in the FTSE 100 futures contract in the UK. T...
On Tuesday, European markets are expected to open lower as investors evaluate the outlook for interest rates in 2023, which could lead to a further decrease in prices. Meantime, US housing data and Canada's retail sales figures stand at the top of the economic announcements for today. The yen surged to a four-month high against the dollar on Tuesday, making it one of the most notable FX mov...
Following a recent period of weakness, European stock markets are expected to open marginally higher on Monday, with the focus on the German Ifo business climate index as an indicator of the health of the Eurozone's dominant economy. As the prospect of more interest rate hikes lies ahead, along with the looming possibility of weaker economic growth, sentiment has been dampened. However, inv...
Despite the Federal Reserve raising rates as expected, stocks fell on Thursday, as chairman Powell confounded expectations of a less hawkish stance by saying rates would remain higher for a longer period of time. In response to the Federal Reserve's announcement that it plans to raise interest rates further next year, the dollar strengthened across the board on Thursday ahead of meetings be...
The US dollar stabilized in early European trade Wednesday ahead of the Federal Reserve's rate decision after a sharp drop overnight in the wake of cooler-than-expected inflation data. For the second straight month in November, US consumer prices increased less than expected, suggesting that inflation may have peaked after surging to highs not seen since the 1980s. According to this data, t...
The European stock market is expected to edge higher at the open on Tuesday with investors looking ahead to the release of U.S. inflation data later in the session and what it would mean for interest rate expectations. The global stock market remains in a holding pattern ahead of the release of the U.S. consumer price index for November, which is expected to show a moderation in the annual pace...
As traders started the week on a cautious note ahead of the last Federal Reserve policy-setting meeting of the year and the reading of consumer inflation in the US, the greenback firmed in early European trade Monday. The world’s top central banks will conclude the year 2022 with hefty rate hikes as their battle against inflation continues. The Federal Reserve is expected to hike interest...
Ahead of next week's crucial central bank meetings, European stock markets traded largely unchanged Thursday. Amidst uncertainty over the global economic outlook, traders sought out the US dollar as a safe haven in early European trade Thursday. Several senior bank executives have predicted that tightening monetary conditions will likely result in a global recession in 2023, leading European i...
The US dollar edged higher by a few cents in early European trade Tuesday, continuing its huge gains from the previous session after strong US services data, while the euro fell despite positive German industrial production results. A surprising rise in the non-manufacturing PMI published by the Institute for Supply Management on Monday boosted the dollar, suggesting that the country's domi...
The European market is predicted to open with a tepid tone on Monday, countering the trend in Asia-Pacific markets overnight, which was positive as investors would cautiously monitor the latest PMI data from Germany and UK, which are set to stay in the contraction zone. Traders, also, watch the ECB president Lagarde’s speech where she is expected to address further steps of the bank’s...
European markets opened lower on Friday as investors awaited U.S. non-farm payroll data and news from China regarding its zero-covid policy. Oil and gas were the most heavily affected sectors, with both falling 1% shortly after the market opened. Meanwhile, the Pan-European Stoxx 600 fell 0.5%. There is a report that the European Union is in the process of tentatively agreeing to a $60 barrel p...
In the wake of comments by Federal Reserve Chair Jerome Powell that the central bank would likely slow the pace of future rate hikes in the coming month, the dollar slipped further, and stocks rallied. There was, however, a dampening effect on sentiment due to weak economic data from China. A drop in the yield on the US 2-year note to nearly 3.70% has led it to fall below its 50-day moving average...
In a bid to stand ahead of a speech by Fed Chair Jerome Powell on Wednesday, the dollar dipped from a one-week high, as optimism over a possible easing of China's COVID restrictions set the greenback on course for a monthly loss that will rival its biggest one since 2009. This was one of the finest performances for the euro, with the currency rising by as much as 0.3% ahead of euro zone inf...
The greenback looked unstoppable earlier this year because investors added bets on inflation and the possibility of a rate hike in the US. There are now a great many people who are turning against it in droves. Former bulls such as JPMorgan Asset Management and Morgan Stanley believe that the era of dollar strength is coming to an end. This is because cooling prices will spur markets to trim their...
Along with growing concerns about weaker demand in China due to an upsurge in COVID-19 cases, political uncertainty in the Chinese market was also triggered by rare protests that took place over the government's strict restrictions on COVID in Shanghai, which brought about selling pressure across the board. European stock markets are expected to open lower on Monday after a series of protes...
The European stock market is expected to open mixed on Friday due to thin trading conditions, as investors are analyzing German data on growth and consumer confidence. It does appear, however, that perhaps Europe will be able to make it through the winter without experiencing a complete energy crisis. There has been no doubt that high prices have meant that gas storage facilities have been floo...
Due to thin holiday trading, the DXY has remained on the back foot since early Thursday and continues to drift lower. Against a backdrop of disappointing macroeconomic data releases and the dovish tone seen in the FOMC Minutes on Wednesday, the US Dollar suffered heavy losses on Wednesday, with the US Dollar Index losing nearly 1% against its rivals. The US stock market and the bond market will be...
The European stock market hovered near three-month highs on Wednesday, as rallying commodity stocks offset weakness in Credit Suisse, following the company's profit warning. After gloomy PMIs from the EU, investors are now watching business activity and jobless claims in the US to get a better picture of how the broader economy is faring. Wednesday morning, the US dollar weakened slightly in e...
It is a mixed day on European stock markets Tuesday, as investors weigh the potential impact of the recent surge in COVID cases in China, the second largest economy in the world, on global growth. Meanwhile, they are waiting for Wednesday’s PMIs which are likely set to confirm contraction in other regions as well. In light of this, there are concerns that a return to widespread mobility r...
This week's Federal Reserve meeting minutes are expected to be the highlight of a holiday-shortened week, and investors are hoping to see some signs that there may be a slowdown in the pace of interest rate hikes. There will be a crucial test in front of U.S. retailers this weekend as the most lucrative shopping period of the year kicks off on Friday. As the latest world economic forecasts fro...
Early Friday morning, the futures market was mixed as investors continued to evaluate earnings reports and the Federal Reserve's increasingly aggressive stance ahead of UK retail sales numbers and Lagarde's speech. While the US dollar edged lower in early European trades on Friday, it is still on track for a weekly gain as Federal Reserve officials refuted market expectations for an ear...
European and US equity futures traded higher alongside the dollar while Chinese stocks and the offshore yuan fell following an inflation warning from China’s central bank. The muted gains for European and US contracts mirrored small advances for Japanese and Australian shares in mixed Asian trade on Thursday. European equity futures will likely face a rough opening after declines in Asia...
The early European trading session was dominated by political events, following a light economic calendar. As Western officials attempted to avoid escalating tensions with Russia, the US dollar weakened in early European trade Wednesday, giving back overnight gains It is also worth noting that European stocks opened on Wednesday marginally lower. Mercedes Benz Group led losses in automaker stocks,...
The S&P 500 reached a two-month high at one point. As momentum failed to build over 4,000, while the US dollar retreated from its highs, which could cause markets in Europe to open mixed today as investors gauge the economic outlook in the region and globally. Currently, gold is moving up and down around $1,770 in a narrow range. As long as the yield on the benchmark 10-year US Treasury bond r...
In the wake of two consecutive daily pullbacks, the dollar index is now in a position where it is trying to moderately rebound to the 107.00 region on the back of a tepid selling bias in the risk complex. The dollar's rebound comes in contrast with a small drop in US yields across the curve, as global equity indices continue to push higher after cooling-than-expected U.S. consumer prices lifte...
After China announced that it would ease some Covid measures, stock futures rose early Friday, and the dollar hit its two-month lows boosting optimism fueled by better-than-feared inflation data that supported a broad market rally Thursday. There was a strong rally across the markets after the Bureau of Labor Statistics reported that consumer prices rose at a slower pace than expected in Octobe...
On Thursday, the dollar edged higher ahead of U.S. inflation data, which is scheduled for release later in the day. However, the price of cryptocurrencies remained under pressure following the announcement that Binance would not be rescuing its ailing rival FTX, a crypto exchange. As the U.S. inflation rate is set to fall for the fourth straight month, it is imperative to read beyond the headli...
In anticipation of the results of the midterm elections in the US, global investors are preparing for a lower open on European markets on Wednesday while US stocks are coming off three straight days of gains and so possibly were due for a pause. Results from the elections are continuing to come in, with a divided political landscape being predicted as the most likely outcome. It would seem that...
On Tuesday, European stocks plunged due to concerns about slowing Chinese demand. In addition, there is trepidation ahead of the midterm elections in the United States which will determine which party will take control of Congress. In Europe, third-quarter earnings are underway, with a number of big companies reporting. In addition, the focus of the European data calendar will be Eurozone retai...
European stock markets traded higher on Friday as the positive tone in Asia surrounding China's reopening speculation overshadowed weak German factory orders. A strong gain in Asian equity markets Friday gave European equities a boost, thanks to renewed speculation that China's COVID-19 control measures will be eased in the near future, which would in turn lift the country's economi...
Global markets have reacted negatively to the Fed’s latest move; shares in Asia-Pacific dropped on Thursday while US stock futures resumed falling after a slight rebound. Following the negative note on Wall Street, European stocks also declined on Thursday. BoE rate hikes is due on Thursday Additionally, the market expects that the Bank of England will raise interest rates by 75 basis...
As investors await the outcome of the Federal Reserve's latest policy meeting at the conclusion of Wednesday's meeting, stock futures were higher on Wednesday morning while the US dollar edged lower in early European trade. There was a lower closing price for the major stock averages in regular trading after the September job openings showed that the labour market is continuing to perform...
The safe-haven greenback received some support from overnight losses on Wall Street, but a rise in US stock futures along with the firmness in Asian stocks, led by China, snuffed out that demand on Tuesday. In addition, lower long-term US Treasury yields have also taken away one of the crutches that kept the dollar strong. The S&P500 futures have rebounded strongly after a bearish Monday fo...
A flat dollar index and dollar index futures are hovering around 110 on Monday. As traders anticipate a 75-basis point interest rate hike by the Federal Reserve on Wednesday, the greenback is expected to strengthen in the coming days. The markets, however, are also putting their money on signs that inflationary pressures are beginning to ease in the coming months, which will encourage the Fed t...
The euro continues to drop on Friday morning ahead of German GDP figures and CPI data expected later in the session. The move follows a slump of more than 1% on Thursday afternoon, falling back below parity with the dollar after the markets felt a less hawkish stance from the ECB while the bank raised interest rates by 75 basis points. There was a wide range of reactions to the data released on We...
On Thursday, most Asian currencies fell, as investors walked away from a recent rally to lock in profits, while the dollar was only pinned near one-month lows as markets bet on a less hawkish Federal Reserve. The markets are betting that there will be a slowdown in the U.S. economy, which will force the Federal Reserve to ease its pace of interest rate hikes - a belief that pulled down the doll...
There was a slight rise in European stocks on Wednesday, as traders digested a large number of quarterly corporate earnings, particularly from the tech and banking sectors. These sectors play an influential role in the markets. After a three-day rally on Wall Street, stocks were mixed as major Asian indexes climbed and US futures fell because of slumps in Google parent Alphabet Inc. and Microsoft...
On Monday, there is a prospect of European stocks gaining ground although Asian shares struggled amid China’s data. To qualify for the ballot, UK leadership candidates need to prove that they have received the support of at least 100 MPs by 2 pm on Monday. Investors will be also waiting for the French and German PMIs. The UK PMI is also included in Monday's data. GBP benefiting from t...
European equity markets are likely to follow the footsteps of Wall Street after a negative close on Thursday and the losses in Asia over the early Friday session. As we enter the final trading day of the week, the mood of the market remains somewhat gloomy. This keeps the buoyant tone surrounding the US dollar intact across the board. Earlier in the session, there was some concern that European...
As investors assess continuing economic uncertainty, European markets are heading for a negative open on Thursday. Several regional markets closed slightly lower on Wednesday afternoon as traders digested the latest inflation data for the UK and the EU and assessed expectations about the hike in interest rates and recession fears. As a result of economic worries, Asian shares traded lower on...
A rise in inflation in September brought the UK's CPI above 10%, as food prices continue to have a significant impact on household incomes and continue to put pressure on Prime Minister Liz Truss and the Bank of England. Since the bond markets have been experiencing all sorts of ructions due to uncertainty over fiscal policy recently, the Bank of England could still be in a difficult positi...
The European markets are expected to open higher Tuesday as the region reacts to the UK's fiscal U-turns on Monday. After the Nasdaq Composite rose Tuesday morning, US stock futures rose as well, posting their highest daily performance since July. Dow Jones Industrial Average futures gained 373 points or 1.23%. Futures on the S&P 500 and Nasdaq 100 rose 1.46% and 1.7%, respectively. The br...
As the third quarter earnings season gets underway, U.S. stock futures are trading higher during Sunday's evening deals. This is because market participants anticipate how major companies will react to a slowdown in global growth over the next few months. There are several companies expected to report this week, including Rio Tinto ADR, Bank of America Corp, Bank of New York Mellon and Char...
On Friday, Asian equities and futures indices fell as hawkish comments from US Federal Reserve officials reinforced the central bank's intention to hike interest rates. Several Fed officials emphasized their commitment to reining in rising inflation, vowing to push through with what is considered to be the most aggressive rate hike campaign in decades. The US economy may be feeling the effe...
This Thursday, investors remain optimistic with mixed US ADP and ISM Services PMI numbers dampening expectations for aggressive Fed rate increases. However, it has barely affected market pricing of a 75 bps Fed rate hike in November, which is now at 65%. US Treasury yields are falling as a result of a lack of clarity regarding the Federal Reserve's tightening agenda, which is underpinning the...
After rallying more than 5% in the previous three sessions on easing concerns about policy tightening, European shares fell on Wednesday, suggesting that the positive tone in Asian equities may prove short-lived, as investors' attention turned to regional and US data due later in the day. Following weaker US manufacturing data, shrinking job openings, and a smaller-than-expected rate hike f...
The US dollar retreated in early European trading Tuesday after disappointing US ISM Manufacturing PMI weighed down on the dollar, keeping risk sentiment on the rise. It gives other majors more room to pare back some of their recent losses against the greenback. It has also kept gold bulls hopeful for reaching the 50-day exponential moving average around the 1714 mark. There has been a statemen...
Stock markets across Europe are expected to tend lower on Monday, as investors weigh regional energy concerns, UK political turmoil, and concerns over Credit Suisse's health. Week in a glance The Federal Reserve's rate hikes will be closely watched by investors on Friday, as they try to gauge how much impact their rate hikes are having on the economy. As markets try to gauge their ap...
It is expected that European stock markets will open marginally higher Friday, thanks to a stronger-than-expected growth rate in the UK However, gains are likely to be limited due to continued concerns about slower economic growth as central banks raise interest rates while geopolitical risks remain high. There has been a sharp drop in major Wall Street indices on Thursday, leading to stocks fa...
Inflation in Germany is expected to jump to 9.4% in September, raising concerns about more aggressive monetary policy tightening, weighing on European stock markets on Thursday. Bond yields have soared in recent weeks as central bankers have increased interest rates substantially to contain hot inflation, potentially tipping the global economy into recession. Investors are closely watching the...
Early European trade saw the US dollar index climb 0.5% to 114.70 against a basket of major currencies. As the benchmark US 10-year Treasury yield breached 4% for the first time since 2010 - after topping 3.9% overnight - the dollar continued its relentless upward march. The yield on the policy-sensitive 2-year Treasury note was 4.2953%. There is an inverted relationship between yields and prices....
US dollar is taking a breather after a couple of volatile sessions ahead of Tuesday's highly anticipated events. The Dollar Index, which measures the greenback against a basket of six other currencies, fell 0.5% to 113.500. It is not far from the level of 114.58 it reached on Monday, which was its highest point since May 2002. The European markets are expected to open higher after shares in...
European stock markets are expected to open lower Monday, weighed by a deteriorating economic outlook and political uncertainty. Concern about the global growth outlook has been increasing as inflation remains high and central banks resort to aggressive interest rate hikes to tame rising prices. The dollar index, which tracks the greenback against a basket of six other currencies, climbed to a...
On Friday morning, stock futures were lower as investors continued to react to the Fed's rate hike and concerns about a possible economic slowdown. Considering the latest pullback in the Dow, the stock market has fallen by about 2.4% so far this week. Also, both the S&P 500 and the Nasdaq have seen slightly sharper declines, falling by about 3% and 3.3%, respectively. The European stock...
Thursday's European stock market losses were triggered by another large interest rate hike by the US Federal Reserve. This is likely setting the stage for aggressive monetary tightening by the Bank of England and the Swiss National Bank. Fed’s rate decision In line with expectations, the Federal Reserve raised interest rates by 75 basis points, causing the Fed funds rate to reach 3...
The European market retreated on Wednesday as investors braced themselves for another aggressive interest rate move by the US Federal Reserve. In anticipation of further aggressive interest rate increases from central banks over the next few days, European markets and US markets both fell back sharply yesterday as bond yields both in the US and across Europe reached their highest levels in more...
For the first time since November 2007, the two-year US Treasury yield climbed as high as 3.970% overnight. A 10-year yield of 3.518% reached a high not seen since April 2011. Investors around the world are focusing on the US Federal Reserve's two-day monetary policy meeting, starting Tuesday. A 75-basis-point rise in interest rates is expected by the markets as the central bank seeks to pu...
In the face of a week packed with market holidays and central bank decisions from Washington to London and Tokyo, the dollar remained near a two-decade high on Monday. With US consumer prices rising stubbornly, investors are rushing to price in higher interest rates and a stronger dollar. Markets are currently pricing in that the Federal Open Market Committee will increase interest rates by ano...
European markets are expected to edge lower, following the Asian and US path on Friday, while investors will be closely watching EU inflation figures and UK retail sales data. The most exciting development on Friday came from the gold market, where the precious metal broke the crucial support of $1690 to draw a bearish outlook ahead of the Federal Reserve's meeting next week. The price stoo...
The European markets are set for a positive start to Thursday following modest gains in the US yesterday and Asia-Pacific markets overnight. The European market closed lower on Wednesday as investors reacted to the latest inflation data out of the United States, while Wall Street posted modest gains after Tuesday's massive sell-off. On Thursday, investors will get a glimpse of August's...
In response to the latest inflation data out of the US, European markets are expected to open negative on Wednesday. Europe's stocks have received a negative handover from Wall Street and Asia. After the August inflation report came in higher than expected, US stocks fell sharply on Tuesday, hurting investor optimism for cooling prices and a less aggressive Federal Reserve. A recent repo...
It's shaping up to be a mixed start for European stocks on Tuesday as global markets prepare for the latest reading of US inflation data, which is expected to be released later in the session. Despite speculation that inflation has nearly peaked, US stocks rose on the final day of trading before releasing critical consumer-price data. During the past four days, the S&P 500 has recorded...
On Monday morning, the dollar index dropped, showing some profit-taking activity as investors unwound some long bets they had made after a month of solid gains for the greenback. The dollar also suffered from a rise in the euro, which jumped 0.5% on Monday. In the wake of the European Central Bank hiking 75 basis points in interest rates last week, investors have priced in a steeper rise in intere...
As markets digested more hawkish comments from the Fed on Friday, the dollar took a breather from its surging rally. At the same time, the euro held on to parity thanks to an outsized rate hike from the European Central Bank that helped keep both currencies close to each other. Despite Jerome Powell reaffirming the central bank's aggressive stance against inflation, currency movements were...
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