Matt Simpson
Matt Simpson
Market Analyst
Is the pound set to suffer amidst Johnson’s latest political woes?
Another day of political turmoil awaits Johnson’s government after two top cabinet members Sunak and Javid resigned yesterday. But does the British pound care?
European Open: The DAX hits a 20-month low, ISM services in focus
The DAX is against the ropes on recession fears, ahead of several key data points from Germany, Europe and the US today.
Volatility subsides in Asia, Gold plunges through $1800
Volatility seen across European markets have yet to make their way to Asia. Yet gold’s notable crash through 1800 is yet to tempt any meaningful bids.
European Open: The DAX and FTSE 100 remain below resistance
Barring a notable spell of risk-on, I’m keeping an eye on potential bearish setups on the DAX and FTSE 100 whilst they remains below key resistance levels.
AUD traders ‘sold the fact’ as RBA hiked by 50-bps as expected
The Australian dollar was promptly sold off on the confirmation that the RBA hikes rates by 50-bps, as traders seemingly bought the rumour and sold the fact.
European Open: Gold holds above $1800 (for now)
Gold saw a false break of 1800 on Friday. The last time that happened in May, it marked a 6-week low.
Commitment of traders report (COT): Copper investors run to the exit
If copper truly is a barometer of economic health, then it is worth noting that large speculators were their most bearish on copper futures since March 2020 last week.
European Open: DAX retests 13k, UK GDP and German retail sales up next
Despite a false break of 13k last week, I see the potential for the DAX to continue lower and break that key level.
China’s manufacturing and services sectors expanded in June
Data from NBS (National Bureau of Statistics) expanded for the first month in four as lockdown restrictions were eased.
European Open: Keep an eye on Germany's Regional CPI’s
The first (of several) regional inflation reports for Germany came in soft this morning, and that could be a lead for Germany’s broad CPI released at lunch today.
European Open: Gold remains rangebound, $112 pivotal for WTI
Gold remains stuck in a choppy range which makes it more appealing for range-trading strategies, whilst WTI has risen to a 5-day high and probes a key resistance zone.