Gold’s attempts at a rally has repeatedly faltered with geopolitics having limited impact absent any actual shooting among major powers. Hope’s that an easing cycle would provide a further lift has also been dashed as the Fed continue to sound hawkish bucking the trend among other central banks. Absent anything new to ignite demand we…
The British Pound was mostly weaker against the rest of the majors with the exclusion of the Yen as market players look for every excuse to argue an August rate cut and more. Though largely seen as second liner data the Confederation of British Industries Realized Sales figure came out sharply lower, contracting instead of…
Euro’s consolidation continue amidst an absence of ground breaking news for either side. It may take something at the level of Thursday’s US Final GDP figures, consensus forecast at 1.4%, along with with a good read in the weekly claimant count to jogged things off the range play. Note that our bias is for an…
Bitcoin saw a massive sell-off Monday taking prices near the trigger a potential double top pattern in the weekly charts. Reports indicated an acceleration of unwinding of long bets for the crypto currency as the out flow from BTC ETF’s the past few weeks turned into saw a massive $210 million being liquidated in a…
The British Pound sold off Thursday following the BoE MPC decision to keep rates steady and signalling a rate cut in the next meeting, in August. With the Bank of England largely seen ahead of the Fed in the easing cycle bias for the currency will remain on the sell side as we have clearly…
Both USDJPY and Gold saw a knee-jerk rally Thursday in response to the announce partnership between Russia and North Korea involving technology transfers to the latter. Over the weekend Vladimir Putin threatened to arm North Korea and allow the latter to re-export such arms to none state actors. This development has put Japanese vulnerability in…
Geopolitics has once again reared its head in global markets benefiting Gold the most among the different asset classes. In the middle-east Hezbollah is warning of a wider regional conflict warning Cyprus that it could be a target if it provides any assistance to Israel as the Lebanon based terror group and the IDF continue…
News coming out of the crypto-sphere has been interesting sparking the early push up in Bitcoin prices as MicroStrategy, the world’s biggest holder of crypto currencies acquired another 11.9K of BTC. This pushes the business intelligence and software company further up in its lead of the largest bitcoin holder at 226,331 more than the entire…
The Bank of England’s decision to maintain interest rates at 5.25% in its latest meeting came as no surprise, especially in light of the recent CPI data that confirmed inflation has eased back to the central bank’s target of 2%. This outcome aligns closely with expectations, as the market had largely priced in the likelihood…
Oil prices has seen a quick ascent from its lows at the start of the month as people begin to price in increased demand with the upcoming US driving season. Note too that production levels until 2025 has largely been broadcast by the OPEC as such focus now will be on actual use of the…