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Latest Market Update by MTFXG

Investors rethink the Fed's likely tightening path

In early European trade Friday, the dollar edged higher, bouncing back from a two-day slump caused by weaker inflation data than analysts had anticipated. As a result, the markets are shifting their view of the Fed's supercharged tightening path, expecting only a 50 basis point rate increase in September instead of the 75 basis points previously expected. As surging inflation dampened consu...

12 Aug @ 08:46
US PPI in focus after a surprising decline in CPI

The European stock markets are expected to open higher Thursday, boosted by solid gains on Wall Street overnight following yesterday's surprise drop in the US CPI. Additionally, oil flows in the southern part of the Druzhba pipeline have resumed after being stopped last week. The markets await the weekly jobless claims and US PPI figures for more clues on the macroeconomic picture. The Fede...

US inflation data in focus

The futures indices are pointing to a tepid start for stocks in Europe and the US on Wednesday, as weakness in the tech sector acted as a broader drag after another earnings downgrade on Tuesday, this time from Micron, following another by Nvidia on Monday. The recent weakness in the European economy is likely to result in a cautious start to the European markets as investors look for signs tha...

Euro, yen and gold in the wake of closely-waited US inflation data

As traders awaited the US inflation data due later in the week to be released, the dollar hovered just below recent highs on Tuesday. In recent sessions, European stock market indices have surged higher, aided by generally upbeat corporate earnings announcements, which have helped lift the market. Additionally, it is possible that soon, the Federal Reserve will start ceasing to be as aggressive wi...

A volatile week is expected with inflation figures on the data front

After a surprise jobs report last week, we are about to see a plethora of inflation data. This data will include CPI, PPI, and unit labour costs. Notably, the Fed pays close attention to Friday's consumer sentiment, which provides consumer expectations about inflation. Should inflation continue to rise, the Fed's forecast of 3.25%-3.5% for year-end inflation could move higher. A volatil...

US payrolls in focus

It appears a persistent inflation wave has been sweeping across south Asia after reaching multi-decade highs in Europe and the US. As a result, the Reserve Bank of India carried out a continuation of its tightening approach early on Friday, raising interest rates for the third time this year. However, much attention will be paid to the closely watched employment report for the US in July, which wi...

In anticipation of the BoE meeting and US weekly jobless claims, the pound is trading sideways

The FTSE is set for a tepid start on Thursday as markets are jittery ahead of the Bank of England policy decision. A 50 basis point increase in interest rates is widely expected by the central bank, which would be the largest increase since 1995. In the wake of this interest rate hike, the benchmark rate will rise to 1.75%, the highest level since late 2008 at the beginning of the global financ...

Dollar stands tall and oil remains steady ahead of OPEC+ meeting

As Federal Reserve officials talked about the possibility of raising interest rates further aggressively in the future, the dollar clung on in choppy trade on Wednesday after its biggest surge in weeks. It was revealed on Tuesday that there were fewer job openings than expected across the country in June, bringing the number to its lowest level since September, an ominous sign of things to come...

Dollar is down ahead of US job openings and Fed's speaks

The US long-term Treasury yield has fallen to a four-month low, pulling down the US dollar as investors seek safety after China threatened repercussions if Pelosi visited its self-governed territory. After falling to its lowest in two months against the recovering Japanese yen on Monday, the dollar will likely continue declining on Tuesday. Also, it lost ground on other peers as investors posit...

US and EU manufacturing PMIs are expected to decline

As a result of data indicating a slowdown in Chinese factory activity on Monday, most Asian currencies fell Monday. However, the Japanese yen continued to hold its substantial gains against the dollar. FX traders are eagerly awaiting the release of the manufacturing PMIs for Europe and the United States. With the latest manufacturing PMI numbers for Spain, Italy, France, and Germany all expected t...

EU GDP is set to slowdown after US economy headed into recession

Bulls take a breather ahead of the EU preliminary inflation report as EUR/USD clings to daily gains above 1.0200 despite weak German GDP data. The dollar remains heavy as yields fall amid renewed economic woes. As we begin with Europe, Q2 GDP and preliminary monthly CPI from the EU are due on Friday, likely to show a weak second quarter. Q2 GDP in the European Union is expected to slow to 0.2% fro...

Markets await US economic growth after less hawkish comments from Powell

On Thursday, apart from today's US GDP figures, markets will be looking for signs of a further slowdown in German inflation for July during the European markets open. The June figure dropped to 8.2% from 8.7% in May and is expected to decrease further to 8.1% in July. On Wednesday, the Federal Reserve raised interest rates for the second straight time by 75 basis points. However, Chairman J...

Fed's rate decision is the main focus of investors

With Wednesday's European open fast approaching, the main focus will be on this evening's meeting of the Federal Reserve, at which the central bank is expected to raise rates by another 75 basis points to tame soaring inflation. The dollar remained consolidated, edging further away from recent 20-year highs on Wednesday ahead of the meeting. European attention has remained focused on gas s...

Dollar edged lower amid busy corporates' earnings day

With investors assessing the latest corporates' earnings ahead of this week's pivotal Federal Reserve meeting, European shares are on track for a muted start. US dollar index trades lower on Tuesday, consolidating around 106.40 for the fourth consecutive day. An update on the world economy is released by the IMF. Finland's unemployment data and Spain's and Sweden's PPI inflatio...

US growth rate, EU inflation and Fed rate decision highlight the week

Against a backdrop of a 75-basis-point (bp) rate hike on Wednesday, and a 9% chance of a 100-basis-point hike, the US Federal Reserve is going to conclude a two-day meeting on the following Wednesday. It will be interesting to see how the market reacts to how hawkish Jerome Powell sounds with his determination to reduce inflation in the face of slowing growth. Traders are pulling back on tig...

UK data and EU flash PMIs in focus

Before new survey growth data is released on Friday, investors are expected to digest the European Central Bank's larger-than-expected interest rate increase, which may give a higher open to stocks. As a result of soaring inflation, the European Central Bank increased interest rates by 50 basis points on Thursday. According to its recent policy announcements, it is widely expected that...

Investors eye ECB meeting, Philly Fed Manufacturing Index and US jobless claims in focus

The euro rebounded cautiously on Thursday as investors braced for the European Central Bank's first interest-rate increase since 2011 and the scheduled reopening of a key Russian gas pipeline later in the day. Meanwhile, the yen shrugged off the Bank of Japan's decision to keep its ultra-easy monetary policy unchanged. ECB joins hike rate club As global economic conditions worsen, eq...

Euro finds more demand ahead of ECB meeting

A reasonably healthy set of corporate earnings on Tuesday led to a dispelling of fears that aggressive monetary tightening would weigh heavily on the bottom lines of companies. Thus, European markets today will likely continue to take on the same positive tone seen in Asia Wednesday after the main indices closed sharply higher on Wall Street on Tuesday. According to Reuters, Russian gas flows v...

European markets open mixed ahead of EU inflation numbers

The European markets are expected to open mixed following yesterday's late US sell-off, while Tuesday's focus will be on the EU CPI after UK unemployment and wages figures came better than expected. In March, the UK's unemployment rate fell to its lowest level since 1974, dropping to 3.7%. In April, the figure edged up a bit to 3.8%. It remained at this level in today's May numb...

Investors await central banks meetings and CPI data amid a busy corporate earnings week

In Asia-Pacific markets on Monday, Hong Kong's Hang Seng Index gained more than 2%, while US stock index futures were modestly higher early on Monday morning after a positive weekly end. So, European stocks are expected to gain modestly on Monday, following the global trend. However, Italy would be an exception due to political uncertainty.  Busy week  This week, corporate earn...

Investors watch US retail sales after China's economy contracted sharply

The dollar's popularity returns as investors reassess the Fed's stance on rate hikes amid a cautious mood after China's growth data disappointed ahead of US retail sales data. The Chinese economic growth data on Friday provided a clear manifestation of global policymakers' challenges.  According to data released by the government, there was a 2.6% decline in the gross do...

Hot US inflation data raised bets for a full percentage point rate hike

In early European trade on Thursday, the dollar surged higher, and European stock markets edged down as the latest US inflation report raised the possibility of further monetary tightening, weighing on global economic growth. EU cuts eurozone growth forecasts On Thursday, the European Commission revised up its estimates for inflation and reduced its forecasts for eurozone economic growth thi...

Euro hangs on to parity ahead of US inflation figures

While stocks remain almost unchanged across Europe on Wednesday, the euro is hovering just above parity against the dollar as investors await the highly anticipated US inflation report later in the day. Most movements in the FX market felt insubstantial in the run-up to the release of the US inflation data for June, which is expected to have accelerated by 8.8% annually, marking a 40-year high....

Risk-off sentiment dominates the markets

With the prospect of further tightening by central banks, renewed COVID outbreaks in China, and Europe's energy shortages unnerving investors on Tuesday, global equity markets tumbled, oil declined, and the euro edged closer to parity with the safe-haven dollar. A growing number of reports of infections in Shanghai, along with the seven-day ban in Macau announced earlier this week, have res...

Highly expected US inflation amid new round of rate hikes in Canada and New Zealand

Major share indices are expected to open the week mainly in the red on Monday as investors braced for the latest set of CPI reports, which will be the week's main story, as they expect an acceleration in prices to keep the Fed on their toes throughout the week. Several key S&P 500 components and banks kick off this week's second-quarter earnings season. Most countries release June i...

Euro seeks parity against dollar, Lagarde's speech and US job report in focus

In early European trade Friday, the Euro extended its loss to parity against the dollar, remaining near two-decade lows amid fears of a Russian-induced energy crisis tipping the continent into recession, while the US dollar edged lower as attention will turn later in the session to the release of the latest monthly US job reports, which are expected to show the number of Americans in paid employme...

Commodity and bond markets point to a hard landing

In the Asia session, the yield on two-year Treasury notes jumped 14 basis points to 2.9691%, exceeding the 10-year yield of 2.9206%, which is suggestive of a slowdown in economic growth due to rate increases hitting. US employment data showed higher openings than expected, and the services sector continued to do well. Detailed information about the labour market will be released on Friday, prov...

EU retail sales, Fed minutes and US PMIs are closely watched

On Wednesday, the market will try to find bargains again, hoping to reverse the downward trend. However, most eyes will be on the Eurozone retail sales data for May, which will give an indication of how rampant inflation is affecting consumers in the Eurozone.  Events of today In addition, the minutes from the last Federal Reserve meeting will be released, which resulted in the highest...

RBA rate hike, US jobs report in focus

In the holiday-shortened week ahead, Friday's jobs report and Wednesday's minutes from the Federal Reserve's June meeting are set to be the highlights. With the Fed rapidly tightening monetary policy to quell the highest inflation in decades, US equity markets are heading into an uncertain third quarter after the worst first half since 1970. Despite soaring inflation, Australia's c...

European markets open in red ahead of EU inflation and PMI data

European stock markets are expected to open lower for another day as investors are cautiously waiting for Eurozone inflation and manufacturing PMI amid rising concerns over a global economic slowdown, which more aggressive monetary tightening can bring.  Dollar on high demand With safe-haven demand supporting the dollar, the greenback edged higher in early European trading on Friday, tr...

Futures indices extend losses in the light of aggressive tightening policies

All the facts at present indicate that curbing inflation is the top priority for policymakers, which will hamper the economy. Therefore, safe-haven currencies like the US dollar and Swiss franc are in high demand as investors are looking for safety to park their capital.  On Thursday, the dollar remained strong against other major currencies while sterling slipped back to $1.2132, setting...

Central bankers' speeches in focus amid concerns over U.S. economy slowdown

Euro slid below 1.05 after the announcement by European Central Bank (ECB) chief Christine Lagarde, where she did not seem eager to offer additional details about what the ECB would be doing in terms of interest rate hikes. The ECB is expected to hike interest rates in July for the first time in a decade to tame soaring inflation. Christine Lagarde, from the European Central Bank, along with Fe...

FX Markets move moderately ahead of Lagarde's speech at the ECB forum

A rally in oil prices boosted commodity currencies on Tuesday, while the euro held onto its recent gains ahead of a speech from Christine Lagarde. The European stock markets are expected to open mixed Tuesday after another drop in German consumer confidence while the G-7 summit continues.  FX market A survey of around 2,000 Germans by the GfK institute found that its consumer sentiment...

Markets gauge central banks monetary policies path

On Monday, the dollar eased back from the 20-year high it reached earlier this month, following disappointing economic data from the United States, which might dampen expectations for more rapid Federal Reserve rate hikes.  In the intervening period, market participants have still been concerned about the trade-off between managing inflation and avoiding a hard landing. Even though ongoing...

Recession fears weigh on commodities amid softening economic data

The stock and bond markets were both headed for their first weekly gain in a month on Friday after investors bet on central banks bringing inflation under control. However, worries about global growth weighed on commodities. In response to concerns about the path of Federal Reserve policy and whether aggressive rate hikes will trigger a recession, the dollar slipped against its major peers on F...

EU and UK PMIs in focus ahead of Powell's second testimony

In Europe, markets gave back their gains from earlier in the week, trading lower on Thursday. In the US, markets initially opened more down but managed to rebound to gain some ground before closing marginally down. During today's European open, the primary focus will be on the latest flash PMIs for June from France, Germany, the UK, and the US. Further weakness is expected across the board due...

Investors await Powell's testimony and Canada inflation after Hot UK CPI data

The safe-haven dollar gained ground on most peers on Wednesday as investors turned nervous again about global growth prospects, while the yen hit a fresh 24-year low as elevated bond yields in the US and Europe contrasted with low Japanese interest rates. The dollar index, which measures the greenback against six peers, is a touch firmer at 103.67. The benchmark US 10-year Treasuries yield is p...

Futures indices on rising ahead of US housing data

On Tuesday, the European indices are likely to continue their gains from Monday. This is because investors seek bargains after last week's heavy losses caused by global central banks tightening their monetary policies. The recent drop in equity markets and shift in investors' attitudes make a bottoming thesis more difficult to make.  The RBA's June meeting minutes, in which the...

Dollar up over uncertain economic outlook, Lagarde's remarks in focus

Due to the US holiday, market conditions on Monday may be thinned out, a factor that could exacerbate volatility. The European stock market opened higher on Monday after a tumultuous week, with investors anticipating further hints of an interest rate hike path from the central banks this week. Equities bear market Last week, Wall Street and the Federal Reserve faced a new reality, and invest...

Concern over economic slowdown has markets mixed, EU inflation in focus

As monetary policy tightens and concerns about an economic slowdown grow, the global stock markets are experiencing mixed sentiment on Friday morning. Central banks across the world are tightening their monetary policies in an attempt to tame the raging inflation. A 75-bp hike by the Federal Reserve was followed by a 50-bp hike by the Swiss National Bank on Thursday, whereas the Bank of England...

After the Fed's steep rate hike, the Bank of England's rate decision will be the focus

As a result of the ECB's statement about accelerating work on a crisis tool that will be used to address concerns about fragmentation of EU bond markets and Italian bond market developments, European markets managed to break the losing streak, closing the day higher. Asia's stocks turned lower following the US Federal Reserve's decision to hike rates by 75 basis points. Fed raised t...

US retail sales and Fed's meeting conclusion in focus

During Wednesday's European session, the US dollar climbed ahead of the Federal Reserve's policy announcement after a two-day meeting, which is expected to result in more aggressive monetary tightening.  The Fed signalled at its meeting in May that half-point increases were very likely at its following two meetings. Still, expectations have been rising in the wake of Friday's r...

Bears are in play amid rising bets on more aggressive tightening

Almost all the major sectors of the S&P 500 began the week down, with only about 10 components in positive territory. Monday saw a broad drop in US equities, with the S&P 500 confirming it is in a bear market. Throughout this year, the markets have been under pressure as rising prices, including a spike in oil prices, caused partly by the war in Ukraine, have prompted the Federal Reserv...

Investors await further tightening amid busy week for central banks

In a week that's likely to be busy for central banks, the Federal Reserve is widely expected to raise interest rates by another 50 basis points. Following Friday's much stronger than expected inflation data, investors will be closely watching the comments of Fed Chair Jerome Powell regarding future interest rate hikes. Following the growing cost of living crisis, the Bank of England is lik...

Stocks down, dollar steady, US inflation in focus

On Friday, the dollar eased off a two-week high against the euro, and European stock markets are expected to open lower after investors digested the ECB's rate hike guidance ahead of the release of key US inflation data. The US dollar has been riding rough waters for most of the week, and the vast anticipation ahead of the inflation report could shake things up. The CPI release will likely...

Markets focus on ECB policy meeting

Investors are expected to focus on the ECB meeting on Thursday as the central bank is widely expected to announce an imminent end to large-scale asset purchases, smoothing the way for the first interest rate increase in over a decade next month to combat record inflation.  Rate hike expectations are close to zero this week. However, the 25bp increases in July and September are fully incorp...

The dollar remains steady, investors await EU GDP numbers

With the US dollar scaling higher on Wednesday amid an upward trend in Treasury yields, the EUR/USD is on the defensive below 1.0700, and the yen dropped to a 20-year low, while the Bank of Japan (BOJ) has yet to indicate that it will end ultra-easy monetary policies. However, Japan's economy appears to be recovering. According to data released earlier in the day, Japan's gross domestic...

European markets are expected to open lower amid aggressive tightening expectations

On Tuesday, The dollar gained for a second day, reaching a new two-decade high against the yen, as concerns about inflation lifted Treasury yields and hurt equity markets. Australian central bank raised interest rates on Tuesday by the most in 22 years. It warned of more tightening as it battles to contain surging inflation. The move stunned markets and sent the Australian dollar soaring. The R...

Investors eye US inflation and ECB meeting this week

As investors prepare for a busy week, including the ECB meeting scheduled for Thursday to discuss policy easing and US inflation data expected Friday, the US dollar edged lower in early European trade Monday, while the European stock market is expected to open higher. The first week of June ended on a down note for stock markets, as a strong US jobs report proved the Federal Reserve and other c...

The European markets fell ahead of European PMIs and the US job report

While the gold price remains close to its monthly high, it is struggling to extend its two-day uptrend amid market jitters ahead of Friday's release of the US employment report while UK markets are on holiday. This is one of the thermometers, along with inflation, used by the US Federal Reserve to gauge the health of the US economy. If the US employment market slows, investors are hoping th...

OPEC+ meeting, ADP nonfarm employment and jobless claims are in focus

On Thursday, the euro and the yen rose against the dollar in the early European session. At the same time, the Swiss franc reached a one-month high against the euro after Swiss inflation surged to its highest in 14 years. The dollar reached a three-week high against the yen in Asia markets. It remained strong against other major currencies, supported by this week's increase in US Treasury y...

Markets focus on the PMIs slowdown ahead of the Bank of Canada rate hike

It is no surprise that the US dollar ticked higher in Europe early Wednesday, as markets are again focused on global inflation. We can assume the 50-day exponential moving average has capped further decline if today's dollar index ends on a positive note.  Data released earlier Wednesday showed China's factory activity contracted less sharply than expected in May. This is because t...

A new record high is expected for EU inflation

Markets in Asia and Europe started the week with a positive outlook yesterday after reports that covid restrictions in Shanghai and Beijing are on their way to being loosened. But as inflation worries weighed on investors, European equity futures fell Tuesday, and Asian shares steadied, capping off another volatile month for markets. With inflation in Germany reaching another all-time high, the...

The dollar heading for the largest monthly loss in a year due to rising risk appetite

Stock markets are currently on a rebound against a backdrop of a weaker dollar and declining Treasury yields, as the dollar dropped for a second week in a row, and the 10-year yield dipped for the third week in a row. It would appear that the markets are anticipating the top for both the greenback and yields, based on the reversals that have already been seen because inflationary pressure in the U...

Dollar down ahead of US PCE figures

On Friday, the dollar fell to a one-month low against a basket of major currencies as traders reduced expectations for a Federal Reserve rate hike in the second half of the year, amid signs the Fed might slow or pause its tightening cycle. FX market The EUR/USD pair soared to a one-month record high of 1.0765, while the GBP/USD pair rose to a fresh monthly high of 1.2666 after the dollar dro...

The US housing market and Canada retail sales are in focus

In reaction to Wednesday's Fed minutes, the dollar index calmly consolidated around 102.03 after seeing an immediate rebound following the announcement. Nevertheless, it was a mild bounce as the Asian session opened. Some investors noted that there were few surprises in the minutes. Long-term Treasury yields held steady overnight while US shares were up. 75 bps rate hike off the agenda A...

Fed minutes are awaited among gloomy economic data

With worries about a potential recession caused by tighter monetary policy, investors are keeping an eye on the latest Fed minutes on Wednesday to get additional clues on whether the tightening will continue after summer.  With expectations for aggressive Fed rate hikes slowing, 2-year Treasury yields have suffered, forcing the dollar to take a big step back as the notion of a Fed pause in...

Traders react to flash PMIs and central bankers' speeches

Despite closing in solidly positive territory on Monday, US markets have given up their positive momentum overnight. This has the result that Tuesday's European open is likely to be negative. UK public sector borrowing and flash PMI data will dominate today's mood, along with ECB President and Fed chair comments in Davos. Multiple threats to the global economy topped the worries at the...

More hawkish Fed weighs on markets ahead of the US job report

The US dollar remained steady on Thursday, following yesterday's gains. Even though safe-haven assets have recently cooled down their rally, investors continue to be cautious about the global economic slowdown following a down day for US futures and Asian equities. It has been a while since markets seemed okay with the 50bps hike this month, followed by another 50bps hike in June. However,...

EU and Canada inflation figures are in focus after hot UK CPI

It was a tough morning in Europe for both the Sterling and the Euro on Wednesday morning, as inflation in the UK shot through the roof, hitting 9% in April, its highest level since 1982. Traders eagerly eye the European CPI report later today. UK inflation During April, the consumer price index rose 2.5%, the most significant monthly increase since 1991, as the cap on household electricity...

Investors will track the EU GDP and US retail sales

After Asia markets rallied following the easing of some Chinese trade restrictions, the European open is expected to be positive as we look forward to another day of important economic data from the UK and the US. Tuesday is the third day in a row so far that the dollar index has been lower. In contrast, US bond yields have pulled back slightly as traders estimate that more aggressive interest...

Markets are weighed down by disappointing Chinese data

Early European trade Monday saw the US dollar stable, just off a 20-year high, as traders sought this safe haven amid concerns about slowing global growth and mounting geopolitical tensions. As a result, European stock markets are expected to open lower on Monday, kicking off the week cautiously. China data After shockingly weak data from China exposed the deep damage lockdowns are causing t...

European markets expected to close the week on higher note

During this rollercoaster week, European equities followed Wall Street's lead as investors reacted to a combination of factors, such as the possibility that inflation in the US has peaked while also Federal Reserve chairman Jerome Powell's warning that the US economy still needs a lot of work to get back to where it was. US job market In the latest data from the US Bureau of Labor St...

US PPI and Job report to watch after disappointing UK GDP and hot US inflation

The dollar was up on Thursday morning in Asia as US inflation eased less than expected, keeping the US Federal Reserve on course to tighten monetary policy aggressively. The headline CPI reading for April was 8.3% in the US, higher than the expected 8.1% and down from last month's 8.5% reading. The Fed's tightening policies have investors concerned about a recession. This was refle...

US inflation data in focus

Market participants are now waiting for the April US CPI figure, which is expected to be released later today. Investors need to keep their eyes open for any signs that inflation might be beginning to cool at an annual rate of 8.1%. The producer price index will be released the following day. The major US stock market indexes rose slightly on Tuesday, allowing a small break from the equity slum...

ZEW index and Fed officials' speeches in focus

On Tuesday, the DXY experienced exhaustion in its uptrend after the index reached its 20-year high at 104.20. Treasury yields shot up during the last two weeks in response to aggressive Federal Reserve tightening expectations. However, after Atlanta Fed President Raphael Bostic suggested the central bank should not hike rates by 75 basis points at its next meeting, yields took a breather. The...

Looking for safety and yield sparks a broad risk aversion mood in markets

Due to concerns over slowing global economic growth and rising interest rates, investors searched for safety and yield on Monday, pushing the dollar index above 104. Investors are unsure on many counts because of a rise in inflation, the war in Ukraine, and tighter lockdowns against COVID-19 in Beijing and Shanghai, but they are sure that the United States interest rates will rise and the dolla...

Does US labour market slow gains?

The US nonfarm payroll report is due out on Friday, likely supporting vigorous monetary policy tightening. The dollar is expected to win against significant rivals for a fifth consecutive week. The Fed raised interest rates by 50 basis points midweek, putting it at the forefront of hawkish global central banks. As benchmark US Treasury yields jumped to 3.1% overnight, the greenback was up for a...

Bank of England in focus after Fed rate hike

As investors reacted to the US Federal Reserve's latest policy decision to end super-size interest rate hikes, the dollar took its biggest tumble in more than a month on Thursday morning in Asia.   In Wednesday's policy decision handed down by the Federal Open Market Committee, the interest rate was raised by 50 bp to 1%, which sent the US dollar index falling from a five-year...

Investors await US and EU PMIs ahead of Fed's meeting

Following the stock market recovery over the past two days, investors' attention on Wednesday turned to the PMI data from Europe and US, the US non-farm payrolls report and the Federal Reserve meeting. In addition, the energy market may fluctuate upside due to the announcement of a new round of European sanctions against Russian oil. The dollar is up considering tightening policies Follo...

Increasing interest rates continue to exert pressure on stock and gold markets

Stock markets showed a weak start to the new month, driven mainly by declining economic activity in China and rising interest rates by major central banks. The dollar index, which measures the currency's value against the other six major currencies, traded in a flag pattern near its 20-year high of 103. Euro sellers are still struggling with 1.05 support. Stock Markets Outlook Data from...

Fed, BoE and RBA meetings to be watched this week

On Monday, the dollar rose ahead of ISM manufacturing PMI for April. While China's economy is slowing sharply based on new economic data, contributing to a further surge in risk aversion. In addition, central banks' decisions on interest rates are the crucial market drivers this week as the Federal Reserve and the Bank of England are expected to raise their rates in this week's meeting...

US Q1 economic growth and job reports are in focus

Thursday's European open looks set to be a positive one after Tech companies' Q1 numbers didn't turn out quite as bad as expected. After hours, the shares rose in what appeared to be a relief rally. In addition, Asian markets have increased on Chinese policymakers' promises to offer further financial support. In general, April has been a disappointing month for stock markets, bu...

Euro and gold to near-record lows

Markets in Europe are expected to open in the red following a global market sell-off that extended into Asia on Wednesday, as investors shifted to safe havens like the US dollar and government bonds in lieu of riskier assets. The announcement that Russia might cut off gas supplies to Eastern Europe added to the gloom, sending the MSCI world equity index to 13-month lows.  US markets...

Dollar up ahead of US data

Amid concerns about the impact of China's COVID-19 lockdowns and the aggressive hike in interest rates, investors scrambled for safety as the dollar hit a two-year high against the euro and an 18-month high against the pound. The dollar increased against most peers in the overnight session, with its index coming in at 101.58, just off its two-year high. Rising concerns over China's...

Markets in Europe are expected to open lower, the German Ifo will be a highlight

There is a choppy market on Monday. The gold price fell to a one-month low on Monday, along with Asian stocks, falling to their lowest level in two weeks on concern about rapid rates hikes in the U.S. and slowing growth, while the euro plunged to a 25-month low to meet the 1.07 mark. Due to the strengthening dollar, gold priced in greenbacks became more expensive for holders of other currencies...

European markets expected to open lower, flash PMIs are in focus

Following the selloff in US markets last night, we can expect a sharp decline in European stock markets this morning, with the main focus on UK retail sales for March and the flash PMIs for April from France, Germany, and the UK. In contrast to yesterday's generally positive session in the European markets, US markets turned negative following a speech by Fed chair Jay Powell laying out the...

Investors await EU inflation ahead of major central banks event

Thursday is going to be a mixed day for the European open as investors wait for comments from the three main central bankers: Fed chair Jerome Powell, ECB President Christine Lagarde, and Bank of England governor Andrew Bailey, who will all be speaking today in Washington. US equities moved lower after Netflix's share price collapse affected other streaming companies. The Nasdaq 100 to...

Eurozone industrial production, Fed speeches to watch

The dollar remains on top against a basket of currencies for a third consecutive day, rising to a new 20 year high against the Japanese yen on Wednesday morning. In the coming months, the yen weakness will probably deliver a tremendous inflationary impulse into the Japanese economy, with the risk that the Bank of Japan will underestimate the wave that will hit it. On Wednesday, traders put Japa...

Dollar index reaches two-year record high

The dollar index reached its highest level since March 2020 on Tuesday, with the greenback setting a 20-year high against the yen and testing a two-year high against the euro, supported by high government bond yields and expectations of an upbeat economic report.  Slowing global economic growth As a result of the weak economic outlook, uncertain geopolitical environment, and rising infl...

Weekly market outlook amid risk aversion sentiment

On Easter Monday, the greenback maintains its strength against its rivals despite thin trading conditions due to the long holiday in most trading hubs. The US Dollar Index, which recorded its highest weekly close since March 2020, continued to climb as rising US Treasury bond yields fueled gains in the European morning. Stock exchanges in Europe will be closed on Monday. US bond and stock markets...

The ECB's dovish stance weighs on the euro

As many major hubs are on holiday, Friday trading is being followed by low trading volumes and sluggish market movements. As a result of the dovish stance from the European central bank, the euro got dumped. According to Lagarde, an interest rate hike will not occur until after the conclusion of the ‘Asset Purchase Program’ (APP) in the third quarter of this year. In addition to...

Euro up ahead of the ECB meeting, US jobs data and retail sales in focus

Euro rose back to 1.09 again on Thursday ahead of the ECB meeting as the US dollar index gave up its three-digit peak in red. Thursday is set to be a positive day for European markets after a better performance on Wall Street, with falling US Treasury yields helping interest-sensitive growth stocks finish higher.  Investors expect a more hawkish ECB Thursday will be dominated by th...

The monetary tightening cycle continues to dominate the markets

As the dollar climbs higher on Wednesday morning, the euro is pinned to a five-week low as prospects for peace in Ukraine appear dim. It is also worth noting that the Kiwi fell after New Zealand's central bank raised interest rates at a steeper pace than it had in the previous two decades in an attempt to curb inflation. RBNZ raised rates aggressively On Wednesday, the Reserve Bank of Ne...

The dollar remains firm ahead of hot U.S. inflation data

On Tuesday, the U.S. dollar held steady as Treasury yields spiked to a three-year high ahead of U.S. inflation data that may signal even more aggressive interest rate hikes from the Federal Reserve. At the beginning of the week, the market mood was sour. The greenback was recovering against its major rivals to reach multi-year highs above the 100 mark. Strong demand for safety pushed gold prices h...

Investors await central banks meetings

With the US dollar index moving above the 100 level for the first time since May 2020, the pound fell below the 1.3000 mark for the first time since November 2020, though the Bank of England is also hiking interest rates. Euro prices have also fallen, though Asia saw a temporary recovery after Emmanuel Macron took the lead in the French election, which was greater than expected. Economic calend...

Canada's employment change in focus

With the prospect of a more aggressive pace of Federal Reserve interest rate hikes, the dollar advanced steadily towards the 100 mark on Friday, reaching its highest level in nearly two years against a basket of peers and a one-month high against the euro. Majors hit new records According to the minutes of the European Central Bank's meeting released Thursday, the policymakers were not a...

ECB minutes and U.S. jobless claims to watch

In line with a global sell-off, European shares are expected to open lower on Thursday, as markets were spooked by more aggressive comments about tighter monetary policy from U.S. policymakers, which kept the dollar near a two-year high, amid expectations for ECB's minutes of March meeting. Fed's minutes Following the Fed speakers and the minutes yesterday, attention has really turn...

Latest FOMC minutes in focus

On Wednesday, Dollar is up while shares struggle to keep prior gains as investors braced for aggressive monetary tightening by the US Federal Reserve. Additionally, New western sanctions over Russia's invasion of Ukraine have come into focus.  The markets may be affected by aggressive tightening Hawkish rhetoric from Fed officials has boosted US bond yields, causing the Dollar Index...

Catch the important Q1 market highlights before you step into the next financial quarter

The past quarter was full of surprises – from the biggest NASDAQ crash to a 5-year high Inflation. Read the market highlights of Quarter 1 Financial markets highlights in the first quarter of 2022 Gold reached around its all-time highs at 2070 dollars per ounce for the second time after starting the pandemic. NASDAQ index plunged over 38% - the biggest crash since 2008. Oil pric...

Services PMIs to watch amid RBA's hawkish stance and sanction worries

On Tuesday, gold prices fell as the U.S. dollar held firm and European stock markets are expected to open cautiously, with investors digesting the potential for more sanctions against Moscow, which could result in higher commodity prices and inflation concerns. At the same time, the markets monitor the PMIs of the major economies in the U.K., Eurozone, and U.S.. Additionally, U.S. markets register...

Fed, ECB minutes in focus

Wednesday's minutes of the Federal Reserve's meeting in March will highlight the week, especially in light of expectations for a half percentage point rate hike in its next meeting. Besides concerns over the economic impact of tighter monetary policy, the war in Ukraine will remain top of mind. Bonds are flashing warning signs as the stock market shrugs off concerns about global economic g...

EU, US jobs report and PCE are on the data front

On Thursday, investors will focus on Germany's employment change and the EU's Unemployment data, which is expected to measure 6.7% against the previous figure of 6.8%. Meanwhile, the US initial jobless claims and the Fed's favourite inflation gauge, the PCE index, are highly expected later in the session. Around the world, governments and central banks are still being squeezed by ri...

Private payrolls and economic growth in focus

The stock market continued to rise on Wednesday as investors await US jobs and economic data amid hopes for a peaceful resolution to the Ukraine conflict. Bond markets caution, however, that aggressive rate hikes could weaken the US economy after 10-year yields dipped below two-year rates overnight.  Concerns about the economic impact of the war in Ukraine have battered the euro in recent...

A busy week with US jobs data and Eurozone inflation in focus

Market volatility continues this week, exacerbated by tensions between Ukraine and Russia, the world's second-largest crude exporter, and COVID-related lockdowns in China, the largest crude importer. US jobs data for March is due on Friday, and it will be closely watched, as it is the last monthly report before the May Federal Reserve meeting. The US PCE index will also be released as part of...

Germany's IFO index is expected to slow in March

The European futures market is pointing to a mixed open Friday, ending the week cautiously as British retail sales unexpectedly fell in February, with online shopping returning to pre-pandemic levels and the stormy weather deterring some shoppers from venturing out. As part of today's events, attention is likely to be focused on the latest German economy IFO survey, the EU leaders' summit...

Investors watch flash PMIs amid geopolitical developments

Today is another busy day for financial markets, as various economic, political, and environmental factors influence the markets. After considerable storm damage to the oil terminal in the Caspian Pipeline Consortium (CPC), Investors await a series of PMIs from Germany, the UK and Europe and job data from the US. Meanwhile, US President Joe Biden arrived in Brussels for a series of summit meetings...

Hot UK inflation and US housing data amid central bankers' speeches

The European indices are set to rise again as cash returns to the beaten-up equity markets, mainly from the bond markets. With UK inflation hitting a record 30-year high last month, household finances have been squeezed to a historical level. Now finance minister Rishi Sunak is under pressure to ease that squeeze in Wednesday's budget update. According to the Office for National Statistics, co...

Investors digest Fed's hawkish stance, central bankers are due to speak

Futures indicate another indecision session in European stocks at the opening on Tuesday as Several other central bankers will speak at the BIS Innovation Summit, including New York Fed President John Williams and ECB President Christine Lagarde. There is some evidence that policymakers now see higher inflation as a greater risk to the economy than a possible short-term slowdown resulting from ris...

Economic slowdown on the cards, UK, EU PMIs to watch

European markets are expected to pare losses after opening lower on Monday, taking their cues from a quiet session in Asia, while traders are waiting for Fed Powell speech later in the day. Chinese markets were down, and oil markets increased after Houthi rebels struck various Saudi Aramco oil fields across Saudi Arabia over the weekend. Do the markets indicate policy error? Stocks surged, a...

Geopolitical uncertainty puts investors on hold

With the euro strengthening in hopes of peace, and commodity-linked currencies benefiting from higher prices, the US dollar is poised for its first weekly loss in six weeks. Nevertheless, a lack of progress in the fourth round of Russia-Ukraine talks caused the markets to become hesitant overnight, setting commodities on edge again and making stocks take a breather after several days of gains. Oil...

Fragile sentiment ahead of UK job data and US PPI

With Tuesday's European opening approaching, we should expect sentiment to remain fragile due to the optimism about progress on ceasefire talks between Russia and Ukraine and the sharp fall in oil and gas prices, which have brought US oil prices below $100 a barrel. The increasing number of COVID-19 cases in China also contributes to the overall negative sentiment for markets since investors f...

Busy week with central banks' meetings amid the fog of war

The dollar fell as European markets opened on Monday but remained near a five-year high versus the yen as investors prepared for a busy week of central bank meetings. U.S. stock markets are expected to open higher Monday, hoping that a diplomatic solution to the Ukraine war can be reached. The European Union's finance ministers are expected to meet later Monday, in light of the risks to growth...

War, inflation, sanctions dominate markets

In the absence of positive development in Ukraine's talks, the dollar up and the rest of the G7 currencies continue to suffer on Friday in the fog of war and the gloomy worldwide economic outlook. Markets await a new announcement following Friday's EU leaders' summit. At the same time, traders are digesting sky-rocketing US inflation and robust UK GDP growth. A strong US inflation r...

Investors monitor ECB meeting and U.S. inflation amid hopes for Ukraine's talks

European markets are set to open higher as risk sentiment improves, following indications that Ukraine is ready for diplomacy with Russia. Despite the recent panic on the markets, the euro held most of its overnight gains on Thursday, having experienced its steepest daily rise in nearly six years. Gold extended its losses and posted its most significant daily drop in 14 months. Meanwhile, oil post...

Cooling-off ahead of the ECB, JOLTs in focus

The crude oil rally slowed on Wednesday, gold retreated to 2030, the US dollar edged lower, and Asian stock markets struggled to gain traction. Investors are wary about slowing economic growth and demand disruption caused by sky-high commodities prices. Euro stocks hammering losses On the other hand, European shares opened on a positive note as news emerged that the European Union would offe...

Gold rallies towards 2020, EU GDP growth in focus

Gold is once again catching a bid as commodities are experiencing another roaring day. Gold prices lifted up on Tuesday morning towards 2020 dollars per ounce, while the European market looks set to open lower. Germany's opposition to a ban on Russian energy imports knocked oil futures from Monday's 14-year peak. Still, the supply shock will hurt European growth in the mid-term. ...

ECB meeting, US inflation in focus amid escalating Russia-West tensions

Following another volatile week in the financial markets, investors are awaiting key ECB meeting to see if the course of monetary policies may shift in light of Russia's invasion of Ukraine. They will also closely watch the US inflation data in February. The euro plunged to a record 22-month low against the dollar on Monday, while commodity currencies surged to multi-month highs as the war...

Dollar at fresh record highs ahead of NFP

Dollar gains on Friday morning, while euro is heading for its worst week against the dollar in nine months as investors await US non-farm payroll. Economic growth expectations in Europe remain dampened by Russia's invasion of Ukraine and the increased commodity prices that have resulted. Bond market continues to go up US Treasuries rose, with the benchmark yield falling below 1.80%. The...

OPEC+, EU inflation and US jobs data in the spotlight ahead of Powell's speech

On Wednesday, financial markets are facing a busy day. With crude oil prices skyrocketing in all benchmarks, Germany's 10-year yields are back in negative territory this morning. The move echoes other major bond markets movements, which can be indicative of investors' mindset shift. Brent hit 110 dollars per barrel. European inflation, the British budget, rising interest rates in Canada, t...

U.S., U.K. and Germany PMIs in focus, Lagarde's speech awaited

As concerns grow that a significant Russian convoy is headed towards Ukraine's capital Kyiv, European stocks are expected to open lower on Tuesday. While traders took a breather amid the fast-moving Ukraine crisis, the rouble began to stabilize after it hit an all-time low of around 110. Meanwhile, the U.S. dollar resumed its rise against major peers. The number of bitcoin transactio...

Global tensions are pushing commodities prices up in a volatile week

This week, there will likely be a new round of volatility as investors cautiously monitor escalating tensions between Russia and the West amid a busy economic calendar with OPEC+ meeting, Powell testimony, EU inflation data, and NFP on the agenda. Escalating sanctions against Russia - including blocking some Russian banks from the SWIFT international payments system - over its invasion o...

Supports hold on cautious optimism over new sanctions against Russia, Ukraine in focus

While the economic calendar is packed with German GDP growth and Lagarde's speech in Europe, durable goods orders and PCE in the US on Friday, Markets are confused about the Ukraine situation. European markets are expected to open higher following Wall Street enjoyed a dramatic reversal overnight as US President Joe Biden and his G-7 allies unveiled new sanctions aimed at limiting Russia...

Dollar, gold, oil skyrocket following the Ukraine-Russia crisis

Russian troops launched a full-scale invasion in Ukraine, which sent stocks and US bond yields plunging as gold and oil prices rocketed higher on Thursday. As a result of these comments, MSCI's broadest index of Asia-Pacific shares outside Japan plunged more than 3.2%, with Australian shares losing more than 3% and Chinese blue chips losing 1.3%. Stock markets dive All major US indice...

Eurozone inflation is awaited amid diplomatic developments on the Ukraine crisis

After the Reserve Bank of New Zealand (RBNZ) raised rates earlier on Wednesday, investors eagerly await inflation reports from the UK and Eurozone CPI data, while considering Russia's troop movements near Ukraine and Western sanctions as allowing room for avoiding a war, which is expected to slow European markets' decline on Wednesday. Commodity prices remain elevated. However, traders are...

The safe-havens rally continues amid escalating tensions in Ukraine

European markets are set to open lower amid non-stop headlines about the Ukraine crisis as investors' mindset has shifted to safe-haven assets. Overnight, risk sentiment deteriorated due to escalating tensions between the West and Russia. In Eastern Ukraine, Russian troops were sent to separatist-controlled areas, and new sanctions are likely to be imposed by the US in response to this. Ass...

Diplomatic hopes keep markets calm, PMIs in focus

Both the dollar and gold were down on Monday morning, with currency markets monitoring the ongoing diplomatic efforts over Ukraine to prevent a Russian invasion. As investors calculated the energy security implications and economic consequences of a Russian invasion, the safe-haven yen stayed just behind a two-week high. A new intraday high for the euro has marked the first positive daily performa...

Investors await Fed report, amid hopes for diplomacy

The dollar index clung to its 50-day moving average for a third consecutive day on Friday, as traders await developments in Eastern Europe. On the economic calendar, the UK retail index is the most important morning market release that may help the pound break through the 1.36 barrier after a month of trading sideways. Today's meeting of European leaders will provide investors with insight int...

Investors fly to safety

Safe-haven gold and Treasuries rallied as Ukraine’s tension increased. At the same time, US stock futures fell, though the lack of clarity around the situation limited more significant moves.  The US dollar didn’t lift up against all major currencies in the European session Thursday despite hawkish FOMC minutes and good US data. The Federal Reserve is on track to raise interest...

Investors await Fed's minutes

As the Ukraine geopolitical risk eased overnight Wednesday, the dollar index lost ground, but the expectation of an aggressive Fed hike cycle keeps the dollar in place. The focus of investors was likely to shift to economic and monetary policy developments amid speculation that the Federal Reserve may raise rates by a full 50 basis points in March. Events of the day On Wednesday, there ar...

Increasing geopolitical uncertainty, US PPI in focus

As geopolitical tensions over Ukraine weigh on markets, dollar buyers held back on Tuesday morning, gold is heading to three-month highs, and European markets are expected to edge lower. Traders are keeping an eye on Euro GDP growth and US producer inflation. Risk-off mood lowered US Treasury Yields An initial sign of this risk-off mood was a move into US treasuries, which sent yields sharpl...

The FOMC minutes among major catalysts of the week

On Monday, the dollar continued to rise on the prospect of interest rate hikes by the US Federal Reserve. The FOMC minutes and consumer spending data from major economies will be major catalysts for this week. In the week ahead, market sentiment is expected to be dominated by concerns over tensions between Russia and Ukraine, as well as questions about how aggressively the Federal Reserve will...

Investors bet on more aggressive rate hikes, Fed report in focus

With red-hot US inflation data and hawkish comments from a Federal Reserve official, European markets are expected to open lower on Friday as bets on a more aggressive increase in US interest rates fuelled, and US Treasury yields jumped ahead of the Fed monetary policy report later today. On Friday, the greenback also jumped above the 50-day EMA, turning broadly firmer after an unexpectedly sig...

The U.S. dollar is getting ready to break the range ahead of CPI

On Thursday, all major indices are trending sideways as investors turn their attention to U.S. inflation data due later today. The silence has come following a sharp Wednesday rally as 78% of earnings reports exceeded estimates. The latest headlines suggest tensions between the West and Russia over Ukraine may be easing. Increasing risk sentiment has already boosted commodity currencies, while the...

Investors await crude inventories report

European markets are expected to open higher on Wednesday after Asian markets rose earlier in the day, with tech stocks gaining after a positive session on Wall Street. U.S. Treasury yields held near multi-year highs ahead of closely watched inflation data this week. A $4.4 trillion market for inflation-linked bonds, also known as linkers, has soared as prices spiral higher amid a post-pandemic wo...

Oil eased on US-Iran talks, Cryptos' wake up call

The dollar made broad gains on Tuesday and held back a recovering euro on a quiet day as traders awaited the US inflation data later this week, hoping that it might trigger bets on faster interest rate hikes. U.S.-Iran talks lower oil prices In the lead up to the resumption of indirect talks between the United States and Iran, oil prices eased Tuesday. The talks may revive a nuclear deal tha...

Bankers’ speeches, US inflation and UK economic growth in focus

In early trade on Monday, the euro fell just below a three-week peak as the dollar gained momentum from positive US jobs data and rising Treasury yields. Later this week, inflation figures will be expected to cement prospects for a Fed rate hike in March. One-in-three chances are currently being priced in for the Fed to raise rates in March, with a reasonable possibility that rates will reach 1.5%...

NFP on the agenda

The dollar was down on Friday morning, heading the worst week in nearly two years, as the Bank of England (BOE) and European Central Bank (ECB) tightened their monetary policies ahead of US non-farm payrolls report. BOE raised rates by 25bps to 0.50%, and ECB kept its policy unchanged. However, Lagarde opened the door for a new tightening cycle this year by the ECB. As stock markets are on the...

BoE and EBC meetings in focus

Traders halted the dollar's slide on Thursday, and stocks are set to open muted as investors are waiting for central bank meetings in Britain and Europe after mixed earnings and looming job data in the US. US dollar fell to the one-week low last night after data showed a drop in US private sector employment in January, as soaring COVID-19 infections disrupted business operations, raising th...

Investors await OPEC+ meeting, EU inflation and US job report

On Wednesday, oil prices remain cautiously steady around multi-year highs ahead of the OPEC+ meeting. The dollar index extended its losses for the third day in a row as traders are waiting for EU inflation data and US job reports. The euro gained ground on Wednesday as Eurozone yields soared, with German 10-year yields hitting their highest level since mid-2019 following high inflation data tha...

Major traders watching PMIs, JOLTs in focus

Tuesday trading started with the Australian Reserve Bank keeping the interest rate at a record low of 0.1% and ending its A$275 billion ($194.40 billion) bond purchase program, as expected. However, the bank declined market forecasts for an early rate hike. The euro pairs are mostly trading rangebound as traders await PMIs data from Eurozone, Britain and US. Along with the PMIs for France an...

Key events of the week

As investors attempt to gauge how aggressively the Federal Reserve will fight inflation, this week's US jobs report will be a key focus for markets. Amid elevated market volatility, both the Bank of England and the European Central Bank will meet. As earnings season continues, Amazon and Alphabet are both scheduled to report earnings. Despite a modest rebound on Monday, global stocks are still...

Stronger dollar shakes the markets, US data in focus

In response to the Federal Reserve chairman's signal to gradually tighten policy, Asian shares plunged to their lowest point in nearly 15 months, short-term U.S. yields climbed to 23-month highs and the dollar strengthened. Following the Fed announcement euro sank to its two-month low against the dollar around 1.12. It is likely that divergent central bank policy will limit any EUR rallies,...

Dollar up ahead of Fed meeting

Despite Monday’s violent short squeeze, U.S. equities are likely to resume falling again at the opening of Tuesday. German business climate beat expectations in January, and the Federal Reserve begins its two-day policy meeting. Microsoft and General Electric lead a cast of thousands reporting quarterly earnings. The dollar index rose on the back of the Fed’s hawkish stance expectat...

Broad risk assets downturn, Central banks meetings in focus

Following a brutal week on Wall Street due to mixed earnings and expectations of rising interest rates, the dollar is climbing to its two-week highs on Monday. Meanwhile, risk assets are under pressure in light of increasing geopolitical tensions between Ukraine and Russia. Cryptocurrencies bloodbath follows recent government crackdowns on private digital currencies, including the Russian Centr...

Gold rallies considering inflation fear

A pause in this week's rally in US Treasury yields dragged the dollar down Thursday while rising commodity prices and economic optimism lifted the Canadian and Australian currencies. Recently, the dollar has not performed as well as expected, despite rising expectations for the Federal Reserve to hike interest rates as soon as March to curb rising inflation. With risk trades benefitting...

Central banks events in focus

On Tuesday, Japan upgraded its outlook on production in the January report for the first time since November 2020 but marking the possibility that COVID-19's Omicron variant outbreak could stall the economy's recovery. Share markets in Asia and early Europe plunged on Tuesday. The turn in sentiment appears to have come after two-year US Treasury yields, a gauge of rate expectations, ros...

Weakening dollar shakes the markets ahead of PPI data and jobless claims

On Thursday, the dollar suffered losses and was trading below key support levels as US inflation was not hotter than expected in December, prompting investors to cut long positions. Amidst the rising tide of inflation in the markets, the US CPI report for December was highly expected. The headline reading of 7.0% y/y met market estimates, while the core reading of 5.5% exceeded expectations. Wh...

Investors await UK data, Chair Powel's speech in focus

On Tuesday, there was some comfort for investors after the US stock markets rallied late in the day, but Asian equities and the dollar remained directionless as investors pared risky assets on expectations the US Federal Reserve could raise interest rates as early as March. These expectations also boost the 10-year Treasury yield to a two-year high. Despite early short term corrections, it appears...

Higher risk and lower returns. Welcome to the new year

On Monday, the dollar halted some of Friday's losses on speculation that inflation data and several Federal Reserve officials' tone would support a rate hike but still remains below 96. Four rate hikes are likely this year This year, the Federal Reserve will likely raise interest rates four times, and it will likely begin its balance sheet run-off process in July. The U.S. labour mar...

Dollar up, UK and US PMIs in focus

Despite the Fed’s hawkish stance in recent months, the dollar hasn’t gained much since hitting a 16-month high of 96.94 in late November 2021. However, traders have digested recent FOMC minutes, approaching weekly highs around 96.50. Trends and momentum dynamics continue to favour the dollar, but prices will have to penetrate the Q4 2021 highs for uptrends to be reasserted in most c...

FOMC minutes in focus amid rising Treasury bonds yields

Following a mixed session on Wall Street, stock markets in Asia were in red Wednesday. While Europe's markets are expected to open lower due to the rise in U.S. bond yields. Interest rates in the bond market had the biggest first day of the year trade in two decades. Treasury yields pushed higher at the fastest new year pace since 2001. The closely-watched benchmark 10-year Treasury yield w...

The US stocks are set to post new record highs, ISM PMI and JOLT on focus

On the second trading day of 2022, global markets extended the upbeat moves seen on Monday. The dollar's gains were helped by a rise in US Treasury yields, as investors bet on the Fed raising rates, with the US 2-year and 5-year notes soaring to their highest since March 2020. Dollar boosts on the back of rising yields On the second day of the 2022 trading calendar, dollar bulls came...

US dollar consolidates during light holiday trading

European markets are going to end the day with a small gain on Friday amid light volume in the wake of holiday trading after an earlier rally in global shares on signs the Omicron Coronavirus may not hamper the global economic recovery. As market players grapple with concerns over Coronavirus restrictions and tighter central bank policies, there are signs that the heavily mutated omicron strain...

US dollar eased on risk appetite recovery

Following a broad sell-off Monday amid fears about the Omicron variant, futures rose in early morning trade Tuesday as widespread selling in global shares eased. As Chinese markets cheer Beijing's support for troubled property firms, Asian shares recovered from Tuesday's rough Wall Street session. Market appetite for risk assets and currencies improved on Tuesday, causing the Austral...

EURUSD holds on bullish bias ahead of ECB

  Following yesterday's CPI data indicated a major acceleration in price growth in November, the Bank of England surprised markets with an increase to 0,25% at its meeting on Thursday earlier. The European Central Bank will also announce its policy decisions and the economic outlook on Thursday. The ECB will also publish its forecasts for inflation and growth in the next two years....

USDCHF struggles with solid resistance ahead of Fed’s meeting

In a cautious trading day ahead of a crucial Federal Reserve meeting, the US dollar index remains steady within its daily range on Wednesday. The Federal Reserve will announce its latest policy announcement later today, and Chairman Powell's press conference will begin half an hour afterwards. A step toward higher interest rates is expected to come with the accelerated end of the Fed's...

Central banks meetings in a busy trading week

This week is another busy economic schedule since we have central banks meetings and a handful of top-tier reports. China data highlights China will release a handful of key economic reports on December 15, which might impact risk sentiment. Retail sales probably fell from 4.9% to 4.8% year over year in November. However, industrial production likely increased from 3.5% to 3.8%. Fixed...

USD bulls catch a breather ahead of important US data

Over the mid-European session on Tuesday, the AUDUSD pair consolidated its recent decline to its lowest level since October 1. Almost unchanged for the day, the pair was last seen in the 0.7220-region. Following the recent strong run-up to a 16-month peak, the US dollar bulls took a breather, which helped the AUDUSD pair find some support ahead of the 0.7200 mark. However, there is no apparent...

Oil outlook is gloomy as demand weakens, PMI data in focus

Despite Monday's rise, oil prices remain under pressure from mounting COVID-19 cases in Europe and a potential release of oil reserves, pointing to weak demand amid potential oversupply. A weak European economy also dampened crude oil prices, creating expectations that mobility would be curtailed over the next couple of months. These developments have already led the IEA and OPEC to warn th...

Gold defends $1850 support, US housing data in focus

On Wednesday, gold regained some positive momentum and reversed a part of the overnight sharp intraday pullback from over five-month highs. In the European session, gold held onto modest gains, defending $1,850 ahead of Central bankers' speeches, Eurozone and Canada inflation reports for October and US housing figures. Bullion is often referred to as an inflation hedge. Yet, after rising on...

US retail sales data and UK job report in focus

While the US dollar index struggles to hold its 95-point level on Monday, investors are waiting for ECB president Christine Lagarde’s speech before the European Parliament and US-China virtual meeting. The US retail sales report on Tuesday is also closely watched as inflation concerns remain at the forefront. Euro’s decline has boosted the dollar index, which is heavily euro-weighte...

Investors await PPI data, central bankers’ speeches in focus

On Tuesday, popular cryptocurrencies scaled all-time highs. Treasury yields fall as the US dollar shrugs off a cautious market mood amid resurfacing Chinese property sector woes. The German ZEW survey, PPI data, and central bankers’ speeches take centre stage. Stresses in China’s real estate sector could strain the Chinese financial system, with possible spill overs to the United St...

Gold remains near two-month highs ahead of US inflation data

The dollar index remains steady on Monday as investors continue to monitor how monetary policy and the pace of economic recovery are affected by price pressures. Treasury yields rose overnight, and gold gained to two-month highs at 1820 as traders digest solid job data, with the 10-year bonds recovering from 6-week lows at 1.44%. A bullish shift in gold’s outlook Gold price remains on...

GBPUSD falls on BOE's dovish surprise and upbeat US data

On Friday, the dollar climbed to three-week highs, bolstered by upbeat data ahead of the NFP release, fully recovering from the Fed's decision to cut its monthly bond-buying program by $15 billion. Earlier in the week, the initial jobless claims fell 14,000 to 269,000 seasonally adjusted for the week ended October 30, the lowest level since the middle of March 2020. The ADP National Empl...

FOMC policy decision on focus

The Federal Reserve will conclude with phasing out its monthly bond purchases later Wednesday following its two-day meeting. According to market expectations, the central bank will reduce its bond-buying purchases by 15 billion dollars per month, meaning that the tapering process of 120 billion dollars will be complete in eight months. If, as some Fed officials have argued in recent weeks, the...

Trading opportunities on RBA dovish stance

In early European trading Tuesday, the dollar eased ahead of the latest Federal Reserve meeting. At the same time, the Australian dollar dropped sharply after the Central Bank tightened monetary policy less than many expected. The Reserve Bank of Australia did not raise interest rates, stressing that inflation was still too low to raise rates soon. Yet, the RBA dropped its policy of controll...

Fed meeting, OPEC Plus and PMI data in focus

On Monday, the dollar was up closer to a two-week high as traders bet on a sooner-than-expected rates hike by the Fed. Eurozone markets outperformed in early trade on Monday, and European stocks rose to record highs on the back of upbeat earnings reports. This week, eyes will be on the Federal Reserve's two-day policy meeting, concluding on Wednesday. Most of the attention will be on whethe...

Investors await US data and UK budget, BoC meeting in focus

On Wednesday, a calm trading session saw the dollar edge lower as investors await central banks meetings and important data releases. In the early Asian session, China's tech shares plunged the most in seven weeks following new regulatory worries. While short-term Treasury yields spiked as investors bet on inflation pushing interest rates higher. Data from Australia showed that consumer...

Central banks meetings, Euro CPI and US GDP in focus

On Monday, the dollar fell, struggling to hold near the support level of 93.50 as traders weighed inflation expectations and rate hikes outside the United States. While German IFO is awaited, EURUSD is heading up from its support at 1.16200 toward the hurdle of 1.16660 due to the weaker dollar. Events of the week The Australian inflation data due on Wednesday will likely set the tone for the...

Dollar down for second week, Powell’s speech in focus

On Friday, the US dollar fell against its rivals near 93.60 and is set for a second consecutive week of declines. After Thursday's gain, the index retraces the area around 93.60 for the end of the week, resuming its downtrend in response to the pullback in US yields from recent tops. At 1.7%, yields on 10-year US Treasury notes reached near their highest levels so far this year, while yield...

Oil at three-year highs, US jobless claims in focus

US stocks are expected to open lower on Thursday as earnings continue to flow in. after the S&P500 closed within a few points of its record high in September, consolidation is likely to follow, leading to the release of weekly jobless claims, the only important economic report for the day. Oil hits three-year record Brent crude prices rose above 86 dollars per barrel, hitting three-year...

Indices rise on earnings optimism, Commodity Currencies hit new Records

On Wednesday, rising optimism about the earnings season led to continued stock market indices, and rising risk-taking sentiment put pressure on the dollar. But scaling uncertainty over inflation expectations has contributed to sharp fluctuations in bond yields. Earlier in the session, European inflation came in at market expectations with YoY growth of 3.4% and monthly growth of 0.5%, causing t...

Majors extend recovery legs, Bitcoin Strategy ETF is expected to list

Tuesday morning, the dollar was down, remaining near the bottom of its recent range while most Asian markets were closed. In response to disappointing American Industrial Production data, the yields curve flattening has paused, adding to the recovery momentum of the major currencies against US dollar. The bitcoin price hit six-month highs as traders bet on the upcoming listing of a futures-based c...

Inflation bumps up yields, China Q3 GDP misses estimates

On Monday, markets kick off the new week with a property slump, and the energy crisis hampered China's projected growth. Brent oil prices continue to dominate the oil market, with Brent reaching a new high above the 85 mark. Higher-than-expected New Zealand inflation helped sellers pull the Kiwi off its one-month high. With bond yields on the rise, the dollar index rose again against other maj...

Risk-off mood weighs on safe-havens

European stocks were set for their best week in seven months on Friday in the wake of a good earnings season that helped ease investor concern about higher inflation. Eurozone consumer prices fell in September in France and Italy, the second and third economies in the eurozone, while new car registrations fell about 20% on the continent due to chip shortages and other components in short supply...

Gold and oil rise on weaker dollar

The crude oil prices rose on Thursday, contributing to a weaker dollar after the International Energy Agency reiterated that global demand is growing faster than OPEC+ can increase production, and demand will outpace supply until at least the end of 2021. An anticipated global energy shortfall could force oil demand to surge by half a million barrels per day and could do more harm than good. Th...

Investors await US CPI data

The dollar defences close to its yearly high versus major peers on Wednesday as markets became more risk-averse ahead of the release of key inflation data amid expectations that the Federal Reserve will taper its stimulus next month, likely followed by an interest rate increase by 2022. Concerns persist among investors regarding inflation resulting from the energy crunch and COVID-19-induced su...

UK data and US inflation in focus

On Monday, the dollar index rose, showing the latest US job reports did not alter market expectations that the Fed would begin asset tapering as soon as November 2021. Still, concerns over tapering by the Fed, US-China relations, surging energy prices, and the upcoming earnings season weighed on sentiment and dented risk appetite. US Dollar hits 3-year high versus Yen As the US dollar reboun...

Investors awaits Lagarde's speech and US job reports

The dollar edged higher against major peers on Friday as traders examined US job reports for clues to the Federal Reserve's next course of action. As the index advances for the fifth consecutive week, it is approaching year highs, helped by general risk aversion among investors and a somewhat hawkish Federal Reserve, leaving the greenback at its highest levels since September 2020. Meanw...

USD gains ahead of ADP figures

On Wednesday, the US Dollar Index (DXY) pushes higher in an attempt to extend the breakout of the 94.00 level. After a bounce from the lows of Monday at 93.67, the price continued to rise as the moderate increase in US yields buoyed the price higher. The dollar might gain some strength due to the cautious sentiment ahead of ADP's Employment Change figures. While concerns about the debt limit a...

US ISM-PMI and Lagarde's Speech in focus

Major markets were steady near low levels on Tuesday amid easing inflationary concerns, while the dollar regained strength below 94 ahead of the US ISM PMI report. Oil prices reached their highest level in more than six years as OPEC+ decided to maintain output increases slowly despite demand recovering as the delta-variant Covid-19 wave ebbed. Global cases hit their lowest in nearly two mon...

Crude prices lower ahead of OPEC+ meeting

On Monday, crude prices edged lower ahead of a meeting of top producers, which may lead to greater production being added to the global market. While overnight weakness in Asia negatively affected sentiment in Europe, with the Hang Seng index in Hong Kong down more than 2% and the Nikkei index in Japan down more than 1%. Concerns about China's property sector led to these losses as shares o...

Oils jumps to three-year high, Lagarde’s speech in focus

Following the results of Germany's federal election, shares in the country jumped to ten-day highs on Monday as fewer left-wing parties won power while a de-escalation of Sino-US tensions and Chinese authorities' decision to pump more cash into financial markets may have helped boost the stock market. In early deals, the blue-chip DAX rose 1%, leading gains among regional indices, while...

Bond yields climbed as Evergrande debt crisis weighs

Dollar just edged higher on Friday, and most Asian currencies softened as investors worried about the fallout from China Evergrande's debts, while bond yields climbed. In the meantime, a survey at the Ifo Institute shows that German business morale has fallen for the third straight month, led down by supply chain problems. The bond market gained overnight following a rate hike by the Norweg...

Gold bulls keep the ground, BOE in focus

The dollar retreated slightly from a one-month high on Thursday due to the Fed postponing tapering until later this year, while concerns over heavily indebted Chinese property group Evergrande eased. The euro lost momentum on dismal Europe's PMIs and gold in attempting a tepid bounce. The Bank of England's monetary policy committee will meet on Thursday. Traders expect the central bank...

G10 pairs trade flat waiting for FOMC

The Fed will release its latest policy statement, and economic projections on Wednesday after the Bank of Japan kept its monetary policy steady. In the news conference that follows the reports, Jerome Powell will discuss the outcome and whether the Fed will begin tapering in November or December. Since the Fed's plan to taper is largely priced in, investors are likely to pay close attention...

Modest recovery ahead of Fed meeting

Markets pared part of yesterday's sharp losses on Tuesday, despite concerns that China Evergrande Group's debt crisis could impact broader financial markets after S&P Global Ratings said that the developer is on the verge of default, while the Federal Reserve will be the main focus Tuesday as its two-day meeting begins. It is expected that the Fed will give a clear signal that it wi...

Rising dollar pushes peers down in the Fed’s week.

This week, central banks in the US, EU, Japan, UK, Switzerland, Sweden, Norway, Indonesia, the Philippines, Taiwan, Brazil, South Africa, Turkey, and Hungary have their policy meeting. The dollar rallied to a month-high on Monday as The Fed is still expected to lay the groundwork for tapering at its policy meeting, with Yields on 10-year Treasuries touching a two-month top and the curve flattening...

Dollar index holds near two-week high

On Friday, the UK retail sales fell for a fourth consecutive month in August, the longest slump in at least 25 years, as Coronavirus spread and supply shortages take a toll, adding downside risk to the GDP outlook for the third quarter. Investors consider this another reason for the Bank of England to delay increasing its hawkish stance at its September meeting. The 1.2% fall in retail sales fi...

Euro points lower ahead of Lagarde speech, US retail sales data in focus

On Thursday, retail sales in the US and jobless claims will be the focus of economic data, and ECB President Christine Lagarde will speak later in the day, while the crisis in European energy prices continued, leading to the first industrial customer shutdowns in the UK. Europe faces a severe shortage of energy resources, as gas and electricity prices continue to rise at an unprecedented pace....

Gold modest gains above 1800, Focus on Canada inflation and US data

Earlier Wednesday, an economic report revealed that China's economy, the region's primary growth engine, hit a speed bump in August due to the Delta outbreak and supply disruptions. In August, retail sales surged at a slower pace of 2.5% compared with July's 8.5% jump, the slowest pace since August 2020. Meanwhile, industrial production was up at the slowest 5.3% rate since July 202...

UK payrolls hit pre-pandemic record, US inflation in focus

On Tuesday, investors are expected to be cautious leading up to the release of key US inflation figures later. Market sentiment in September is driven by the timing of when central banks reduce economic stimulus. US inflation data can determine when the Federal Reserve begins its tapering plan. There is also a possibility that inflation could cause problems for Joe Biden's $3.5 trillion soc...

Oil prices surged ahead of OPEC report, Lagarde’s speech in focus

Investors start another busy week focusing on the OPEC monthly report, inflation figures from the US and UK, industrial production in China and global central banks’ speeches. OPEC is set to revise 2022 demand lower On Monday, oil prices rose for a second straight session ahead of the OPEC monthly report. Concern over US output following Hurricane Ida and expectations for higher demand...

Dollar holds ground above 92.26 ahead of PPI

The global stock markets climbed off the lows of yesterday's session. At the same time, the dollar edged lower for the second consecutive day but set for a winning week as investors showed positive reaction to the European Central Bank's decision to slow its emergency bond purchases in the fourth quarter. Dollar index hovers above firm Support DXY corrective downside appears to find...

Equities are struggling with key supports ahead of the ECB meeting

A rising inflation rate and slowing global growth have weighed on the stock markets in Europe on Thursday, as investors remained cautious ahead of the European Central Bank's meeting. According to earlier released data in China, factory gate inflation hit a 13-year high in August, with producer prices rising 9.5% from a year earlier, driven by soaring raw materials prices. Amid this back...

Rising dollar pushes stock markets lower amid ECB mixed news, BoC meeting in focus

On Wednesday, the dollar climbed to a one-week peak at 92.70 against peers boosted by higher Treasury yields and a weaker euro ahead of ECB policy decisions. Among expectations for an upcoming Fed taper announcement later this year, the yield on the benchmark 10-year US government hit 1.385% on Tuesday, its highest level since mid-July. As a result, the USD recovered strongly from one-month low...

Brent turns lower on demand concerns

China's export growth supported crude prices Tuesday, but gains are limited after Saudi Arabia sharply reduced prices over the weekend for Asian buyers. A report earlier Tuesday showed China's exports rose 25.6% in August from a year ago, while July's gain was 19.3%. Despite the headwinds prompted by outbreaks of Covid-19, economic growth beat analysts' expectations, suggesting...

Hawkish policymakers put markets on alert

As people back to their desks after summer, the uncertainty of trimming down the pandemic-era stimulus is at the forefront of the attention, considering the G10 central banks' meetings planned for September. Added to these uncertainties is the debate over the US national debt. Markets await ECB meeting this week The Fed may postpone tapering until at least November after the disappointin...

Sterling remains near two-week highs, NFP report in focus

On Friday, European stocks are expected to rise as investors wait for the release of UK PMIs and the final US employment report. The markets appear to be running short USD positions on today's non-farm payrolls. Asian markets ended the week on mixed data Asia provided traders with mixed news earlier in the session. According to data, Japan's economy likely grew faster than initially...

EURUSD holds near one month high

As mixed data provided no clear direction, the markets remain quiet On Thursday ahead of the initial jobless claims data due to release later today, which will be a warmup for tomorrow's NFP data after a red flag on ADP yesterday. Last week, Federal Reserve Chair, Jerome Powell, highlighted the improving US employment as a sign of undertaking the tempering of the Fed's monetary policy,...

Crude prices consolidate ahead of OPEC+ meeting and ADP report

After two consecutive falling days, crude prices found some support above 68.00 dpb ahead of the OPEC+ meeting due today. However, a 69.00 is still considered as a firm resistance. The Organization of Petroleum Exporting Countries, Russia, and allies, also known as OPEC+, will meet at 15:00 GMT today. OPEC revised up its demand outlook According to the early Wednesday report, OPEC revised...

US dollar holds steady around three-week lows

On Monday, the dollar hovered around three-week lows after Federal Reserve chairman Jerome Powell outlined a slower-than-expected path to tapering. Investors are focusing their attention on the US jobs data due on Friday for clues on when the Federal Reserve will begin to taper. The Federal Reserve chairman stated that the Fed is not in a hurry to raise interest rates, and Policymakers should m...

Quiet Friday ahead Powell speech

On Friday, European markets traded relatively mutedly as investors delayed taking positions ahead of Chair Powell's speech. It looks like US stock markets will open higher later today, recovering some of Thursday's losses, while their direction is mainly dependent on Powell's statement from Jackson Hole. Powell is scheduled to speak on tapering at 10 AM EDT (1400 GMT), and his re...

Gold: Under pressure near 1785 ahead of Jackson Hall

On Thursday, gold fell for the third day in a row on the eve of the annual meeting of the Federal Reserve in Jackson Hall. Rising Delta virus cases and unfavourable economic data from Germany, Europe's largest economy, have traders closely watch the following fundamental factors to get a clue on the next markets' movement. Investors are increasingly curious about Mr Powell's speech...

Dollar gains ground, oil pauses the rally

The dollar gained ground on Wednesday, cutting yesterday's losses near its one-week low. Safe-haven assets are losing favour as economy-dimming COVID-19 worries fade. In the current market environment, some investors believe the ongoing COVID-19 spread reduces the chances that the Fed will announce a timeline for both asset tapering and interest rate hikes at its annual symposium later this...

EUR/USD: Will Sellers drag prices toward 50-EMA ahead new home sales release?

As the stock markets in Europe continued to rise for the second straight day on Tuesday, US stock index futures on Wall Street rose amid market risk-on sentiment, fuelled by the strong Chinese tech sector. According to figures released Tuesday, the German economy grew faster than expected in the second quarter. The gross domestic product rose an adjusted 1.6% in the second quarter, compared wit...

Gold prices pause around 1800 ahead of the Jackson Hole event

Gold is trading in a downtrend since the beginning of June, attempting another run toward the upper line of its downward channel, while warnings of another selloff in gold are coming around as prices paused near the 1800 dollar ahead of the Jackson Hole event. Even though uncertainties tied to the Delta spread and the weaker than expected data from the big economies like China, Australia and Ja...

USD index forms a double bottom

Rising delta cases globally and Fed’s tightening led to a change in investor sentiment. A slump in UK retail sales adds to concerns of a slowing global economic recovery as China continues its regulatory clampdown, which resulted in markets turning risk-off. Because of these factors, European stock markets opened broadly lower Friday, and the dollar rallied, creating a bullish double bott...

Dollar climbed to nine-month peak as Fed hints at early tapering

On Thursday, The dollar index surged against other majors to a nine-month high at 93.52 in the early European session as Federal Reserve officials see the potential to taper its bond purchase program this year. The latest Fed’s minute released last night showed the officials might cut back the massive stimulus package this year if the economy continues to improve and meets the maximum emp...

Markets in the week ahead: Eurozone GDP, US retail sales and Fed minutes in focus

As morning European trading opened on Monday, the dollar edged higher but remained near a one-week low as the Federal Reserve could be forced to delay the tapering of its bond-buying program due to an increase in Covid-19 cases and slumping U.S. consumer confidence. China's preliminary data was released earlier, showing industrial production rose 6.4% year-over-year in July, while retail sa...

S&P500: Will markets hit new records high on solid earnings?

Major stock markets in Europe and the US are trading steady on Thursday, hovering near records high. Bets for a faster tightening of monetary policy tempered expectations for an earlier rate hike and eased concerns the Fed will rush to reduce its stimulus as Inflation data came out roughly in line with forecasts yesterday. The monthly CPI for July ticked up at 0.5%, and the annual rate printing...

EURUSD: Will the pair continue falling?

The dollar strengthened in early European trading Wednesday, adding to recent gains ahead of the U.S. inflation data. The EURUSD keep sinking for the eighth consecutive day. The strength in the U.S. dollar and Treasury yields following the NFP did not show signs diminishing on Wednesday as expectations step up about tapering the Fed’s massive asset purchase program before ending the year....

Crude: Upside momentum is waning

The oil price was down again on Wednesday morning in the European session, falling for a third straight day on concerns over the rising number of COVID-19 cases in dampening the outlook for fuel demand. China National Petroleum Corp. estimates that 5% of worldwide short-term oil demand may be at risk from the recent outbreak in China, which has afflicted nearly half of China's 32 provinces....

USDJPY: Bears set to extend gains below 109.072

USD/JPY is trading below 50 and 100 EMA in a short-term downtrend. After breaking below the intraday low at 109.361 in a 4-hour timeframe, a growing coronavirus fear-driven demand for safe-haven yen has led the USD/JPY to approach lower levels, extending Monday's decline. On the other side, the dollar index dipped on Tuesday in a relatively tight trading range. Traders remain cautious ahead...

GBPUSD struggling at a support level of 1.37865

GBP/USD made a reasonably contained move yesterday due to the Dollar rally. Still, it failed to break above the psychological resistance level at 1.3900 in its attempt to resume the recovery from the three-month low at 1.37316 and eventually ended up closing the day lower to print a mixed picture of price action. Although the pound tries to bounce, the downside bias persists as long as the Poun...

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