Just Another Crypto Drama

US stocks gained, the US yields and the dollar slid on the expectation that a divided landscape from the US midterms would support stocks, and soften the dollar. The results are still coming in. At the time of writing, there is a 50/50 shot at the Senate, and the Republicans have more seats in the […]

Markets Will Have to Continue Their Countdown the Tomorrow's US CPI Release

Markets Markets had to rely on their own internal dynamics/technical considerations yesterday given the empty eco calendar. Both US and EMU yields initially hovered close to post-Fed peak levels, but forces of gravity came into play during the US trading and finally inspired some global dovish repositioning. Markets are still in doubt whether the Fed […]

Stocks Ease as US Midterm Results Filter In

Equity markets are a little lower on Wednesday as investors continue to watch events unfold in the US for a sense of what impact they’ll have on sentiment. The impact of the midterms will probably be short-lived, if impactful at all, as far as markets are concerned. Of course, the political implications may be significant […]

Aussie Rally Takes a Breather

The Australian dollar is in negative territory today after an impressive rally. AUD/USD is trading at 0.6487, down 0.27%. US dollar steadies after selloff The US dollar has been in retreat since Friday, after a mixed nonfarm payroll report raised the likelihood of the Fed easing up in December and raising rates by just 0.50%, […]

EURUSD: Bulls Likely to Resume after Consolidation

The Euro holds firm bullish tone and consolidating around new two-month high in early Wednesday, after bulls generated fresh bullish signals on Tuesday’s close above pivots at 1.0037/50 (100DMA / Fibo 61.8% of 1.0368/0.9535 respectively) and dented key barrier at 1.0093 (Oct 26 recovery top) hitting new marginally higher high at 1.0097. This signals that […]

Japanese Yen Drifting, US Inflation Next

The Japanese yen has steadied after posting strong gains on Tuesday. In the European session, USD/JPY is trading at 145.67, up 0.03%. Japan recorded stronger-than-expected gains in household spending and retail sales, but it’s questionable whether this positive trend will continue. Inflation hit 3% in September for the first time in over 30 years, raising […]

Things Go Wild in Crypto

Market picture The cryptocurrency market lost another 7.7% to $900B over the past 24 hours, returning capitalisation to the area of September-October lows; at the peak of the decline, it was approaching the current market cycle lows set in June. Leading altcoins in the top 10 fell from 5.5% (BNB) to 22.9% (Dogecoin). At its […]

UK Q3 GDP and the Official Start of the Recession?

After warning for a few months that the UK was heading towards a recession, after the last meeting it came out and said that the recession had arrived. Of course, the data hasn’t been out to show it, yet. Since the technical definition of a recession is two consecutive quarters of negative growth, the data […]

Sunset Market Commentary

Markets At least for now, the US midterm elections didn’t provide an unequivocal driver for US/global markets. With several states still undecided, Republicans apparently are in pole position to take control of the House of Representatives while the Senate remains a close call. Even as Democrats performed better than expected, the Biden government probably will […]

Is the UK Economy One Step Closer to Recession?

Following last week’s dovish triple hike by the Bank of England, pound traders are now likely to turn their attention to the first estimate of the UK GDP for Q3 due out on Friday at 07:00 GMT. Expectations are for the Office for National Statistics to confirm the BoE’s forecast of a contraction, but the […]