The crypto space continue to be see strange news with the wilder speculations having Donald Trump turning bitcoin into a US strategic reserve. It is worth noting that many of the top crypto execs are vocal Trump supporters though it is highly unlikely that even Donald Trump could get the Fed bureaucracy behind such a…
The British Pound retreated along with the rest of the majors against a broadly firmer dollar Friday. The move comes as a follow through to Thursday’s earlier drop and in response to the UK’s own retail sales data that showed a sharper contraction at 1.2% againts an -0.6% consensus forecast basically confirming that largely expected…
Oil prices remain weighed by economic weakness in the world biggest oil importer China as last Monday’s disappointing read in GDP 4.7% against a 5.1% consensus forecast was followed by a CCP statement underscoring the complex economic environment it is facing. Adding to oils woes are OPEC plans of unwiding some of the supply cuts…
Gold continues to pullback from new historic highs Wednesday as the latest economic numbers out of the US suggests the economy remains resilient and set for a soft landing, i.e. no need for the Fed to ease aggressively. While it may be too early to argue that Gold has topped off we would note that…
Today’s European Central Bank (ECB) meeting, scheduled at 0815GMT, is anticipated to maintain interest rates unchanged following the rate cut in June. As markets brace for the decision, the focus shifts to future policy signals amidst divergent views within the Governing Council. Policy Expectations and Market Dynamics Market consensus strongly anticipates the ECB to hold…
Capitalizing on fresh signs of a shift to a dovish stance in US monetary policy the Euro manage to see a follow through breakout Wednesday closing in on the highs for the year. Further stoking dollar bears is the latest beige book report indicating 5 of the 12 Fed districts are reporting flat or declining…
A strong read in UK CPI saw the British Pound break through its consolidation from the start of the week, pushing to a new one year high. Both headline and core annualized CPI turned out firmer than expected at 2.0% and 3.5% potentially pushing out the exptec rate cut this August to the next BoE…
The UK Consumer Price Index (CPI) data for June, scheduled for release today (0600GMT), holds significant implications amid evolving economic conditions and new government policies under Prime Minister Starmer’s leadership. Expectations and Economic Context Economists anticipate the headline CPI to remain steady at 2.0% year-on-year, aligning with May’s figure. Despite this stability, underlying dynamics suggest…
Despite an ongoing US driving season weakness in the world’s 2nd largest economy and biggest oil importer, China continue to weigh on Oil prices with the black gold pushing under the late June consolidation floor. At this point with geopolitical tensions largely priced in the main concern of the market is actual barrels to be…
As with the rest of the majors the Japanese Yen has seen significant gains on the greenback on the idea that the Fed will be forced to take a more aggressive stance at easing. Latest Retail Sales figures from the US however appears to suggest there is no need for the Fed to panic. Core…