Currency traders are reading what they want from US data as immediate reaction to the Advanced GDP figures see a strong push by the greenback. Note we have the headline figure coming in at 1.6% quarter-on-quarter well short of the consensus forecast of 2.5% quarter-on-quarter though previous results did see an upside adjustment to 3.4%…
Eurozone Flash PMI figures were not exactly all great as the Manufacturing sector signals a deepening of its contraction coming in at 45.6 from 46.1 while Services surprised on the upside to read 52.9. Considering that both sides were a disappointment in the US Flash Manufacturing PMI 49.9 against a 52 consensus forecast and Flash…
Oil Prices benefited from weak US Flash Manufacturing PMI figures at 49.9, technically contraction territory, reviving hopes of a US rate cut. The next FOMC meeting is on May 2 with the primary concern remaining to be persistent inflation pressures. Note as well the numbers actually imply that demand for oil could further weaken before…
The Japanese Yen hardly moved against the greenback with its brief drop following across the board dollar dumping quickly reversed as traders for the pair remain tightly wound. Key issue for USDJPY remains to be a question of policy with the BoJ Monetary Policy Statement and Outlook Report set for release on Friday. Note we…
US Flash Manufacturing PMI saw a dip below 50 at 49.9, technically signalling a contraction, against consensus forecast of 52.0 while Flash Services PMI also fell short to read 50.9 against the consensus forecast of 52.0. As a response we are seeing across the board dollar weakness with Cable making the most of the situation…
We are seeing a follow through to the break of the symmetric triangle in Gold from the past weeks consolidation as tensions in the middle east continue to ease. Speaking on the Israeli retaliatory attacks Friday, Iran’s Foreign Minister has indicated that there are no plans to respond with market taking this as catalyst enough…
Oil prices saw a brief surge Friday on Israel’s retaliatory attack into Iranian territory only fall back to where it opened given the mostly symbolic nature of the attacks underscoring vulnerability of the oil market absent geopolitical tension. We have already heard back from Iran with its Foreign Minister Hossein Amirabdollahian telling NBC News that…
The UK’s flat Retail Sales figures Friday saw bears regaining the upper hand as GBPUSD dropped under the weeks lows and saw a further follow through decline at the open Monday. Ahead we have data for both side as Flash Manufacturing and Services PMI is set for release. Consensus forecast for the UK has us…
We spent the past week in consolidation for EURUSD with a lack of catalyst preventing a further sell-off or a recovery back above the breakout point. Ahead we will be seeing flash manufacturing and services PMI figure for both the US and Eurozone. While not big shakers in and of themselves a divergence in the…
As we move into a new week, financial markets remain attuned to a dynamic mix of monetary policy signals, geopolitical tensions, and economic indicators. Here’s what investors should keep an eye on: U.S. Dollar and Monetary Policy The U.S. dollar gained traction last week, with the dollar index rising above 106.1. U.S. Treasury yields also…