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European Open: EUR/USD eyes break of 1.06, potential bull flag on gold
The dollar is on track to break a 6-week winning streak, and the euro and gold may present a couple of opportunities around that theme.
European Open: Bears eye the DAX after it fumbles its breakout
We were hopeful that DAX could break trend resistance, yet the turn in sentiment shows it was not yet to be. For now, at least.
European Open: Fed Evans thinks they need to go beyond ‘neutral’ rate
Hawkish comments from Fed Reserve member Charles Evans saw the US dollar catch a bid early in the Asian session.
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European Open: EUR/USD grinds higher ahead of EU GDP and US retail sales
EUR/USD is a pair to watch today, given the line-up of GDP and employment for Europe, retail sales for the US and Jerome Powell speaking.
Two trades to watch: FTSE, EUR/USD
FTSE falls after disappointing Chinese data. EUR/USD falls ahead of Eurozone economic forecasts.
European Open: Reality check for risk as China data misses
Data from China clearly pointed the wrong way and knocked sentiment, but news that Shanghai is aiming to reopen threw in a degree of support.
European Open: Eyes on the euro and a potential 19-year low
EUR/USD came very close to breaking the 2017 yesterday, which would have taken it to its lowest level since December 2019.
Asian Open: Jerome Powell reconfirmed, Russia threatens Finland
More of the same with the Fed as Jerome Powell is confirmed for a second term. The yen rallied on geopolitical concerns as Russia threatened Finland over joining NATO.
Things go from bad to worse for risk
There’s no respite as investors continue dumping stocks and other risk assets
European Open: WTI rebounds above $100, UK GDP up next
Energy markets were supported by the rise in geopolitical tensions between Russia and Europe, which helped WTI print a firm close above $100.
European Open: Bruised equity bulls look to US CPI for a reprieve
Given US indices are holding support levels after the latest selloff, a soft inflation print could be the catalyst to lift equities from their lows.
European Open: The euro perks up ahead of German ZEW report
Whilst EUR/USD remains within a 150-pip range, momentum has turned higher from the midway point and hints at a run for 1.0600.
Two trades to watch: FTSE, EUR/USD
FTSE falls on deteriorating market mood, China concerns. EUR/USD falls in risk off trade, USD strengthens.
European Open: GBP trades around its 23-month low ahead of NFP
The US dollar is on track for its fifth bullish week, which hasn’t boded well for GBP which clings on to its 23-month low ahead of today’s NFP report.
European Open: USD/JPY hugs 130 like an old friend it's about to leave
USD/JPY has been trading in a 20-pip range around 130 over the past 12 or so hours - a level we don’t expect to see it anywhere near this time tomorrow.
Two trades to watch: FTSE, EUR/USD
FTSE rises with BP, HSBC in focus. EURUSD falls ahead of ECB's Lagarde & Eurozone PPI data.
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Today, I measure inflation in #Pakistan at 43%/yr, more than 3x the official inflation rate of 13.4%/yr. To crush inflation, Pakistan must mothball the State Bank and install a Currency Board. https://t.co/3pnndpoBaI
2:27 AM − 20 May 2022
European Open: NATO are in a tight spot as Russia cuts Poland’s gas supply
Data confirmed overnight that Russia has indeed cut the gas supply to Poland following its threat to do so yesterday.
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European Open: Futures point higher but sentiment remains fragile
Whilst equity markets traded higher overnight, volatility lacked the conviction we’d like to see to gain confidence an important low had been seen.
European Open: GBP/NZD breaks out as commodity FX weakens
Hawkish comments from BOE, ECB and the Fed yesterday left nowhere for commodity FX to hide and send AUD and NZD pairs lower.
European Open: DAX holds above 14k, Canadian CPI in focus
With US indices having potentially printed a wing low, we’re now looking for DAX to follow suit today. Elsewhere, Canadian inflation is in focus for BOC watchers.
European Open: Traders return to their desks, FTSE breaks consolidation
Several major exchanges open for the first time after the 4-day Easter break, and we’ll see if the FTSE can extend Thursday’s run after it broke out of consolidation.
European Open: Singapore’s CB tightens policy, ECB unlikely to follow suit
The Singapore dollar made the baulk of currency moves overnight as the MAS tightened policy. We don’t expect the same level of excitement from the ECB.
European Open: RBNZ down, BOC (and UK inflation) up next
We’ve had one 50 bps hike already today from the RBNZ, and now we get to find out of the BOC will follow suit. But first up is UK inflation data.