Euro Hits 20-Year Low on Oil Shutdown

The euro fell below the 0.9900 line earlier in the European session but has pared its losses. Currently, EUR/USD is trading at 0.9937, down 0.19%. Euro falls on Nord Stream 1 shutdown US  markets are closed for the Labour Day holiday. A US holiday often means a quiet day for the currency markets, but not […]

With High Inflation, Why Isn't Gold Rising?

The sales pitch for gold is that it’s a hedge against inflation, because it doesn’t lose its value. It is a real commodity, unlike fiat currency. Yet, as inflation has skyrocketed around the globe this year, the price of gold has not. In fact, after peaking out in March, it has since trended lower. What […]

Sunset Market Commentary

Markets Markets’ sole focus is on Gazprom’s announcement last Friday that gas flows through Nord Stream I will be halted for an undetermined amount of time to fix an oil leakage spotted during scheduled maintenance. The announcement coincides with Friday’s G7 finance ministers’ decision to introduce prices cap on Russian oil exports and comes a […]

Could the ECB Rate Decision Come to the Euro's Rescue?

It’s not a secret anymore that the eurozone will soon head into a recession but there is something that is even more certain in the region and that is inflation. The European central bank will likely provide more weight on the price risks when it gathers this week, and although it is between a rock and a hard […]

New UK Prime Minister is to Freeze Gas Bills

After the resignation of Boris Johnson in July 2021, the conservative party had to conduct an election. With 57.4% of the vote, Liz Truss will be the new UK Prime Minister (PM) for the next two years. She is about to change a lot in the UK politics, and we are about to tell you […]

Bitcoin Clings to $20K

Market picture Bitcoin managed to claw its way to a meaningful round level early in the week, trading at $20,400 on Tuesday morning (+2.8% in 24 hours). Ethereum showed an even more decisive rebound, adding 8.5% at once to $1580. Top altcoins are up 3.5% (Dogecoin) to 7.1% (Solana). Total cryptocurrency market capitalisation, according to […]

A Curious Rebound

Stock markets are bouncing back on Tuesday following a rocky couple of weeks as investors grew nervous about the economic impact of tightening. Fed Chair Jerome Powell could not have been more clear on Friday on the central bank’s tightening stance and unlike the warnings from his colleagues, the message appeared to have finally gotten […]

ECB Comes to the Euro Defence

The fall in the single European currency has paused after briefly touching the 0.99 level earlier this month. As in July, the momentum of the EURUSD decline has sparked a resurgence of verbal interventions. Judging by the tone of recent comments, the ECB is reassuring the markets that it is soon ready to raise rates […]

Swiss Franc Falls to 5-Week Low

USD/CHF is up for a third straight day. In the European session, the pair is trading at 0.9717, up 0.36%. The US dollar continues to show strength against most of the majors. The Swiss franc has fallen sharply, with USD/CHF climbing 360 points since August 16th. KOF Economic Barometer falls again The KOF Economic Barometer […]

Sunset Market Commentary

Markets National European August inflation readings today printed in line with forecasts. Spanish inflation was slightly lower compared with July (10.3% Y/Y from 10.7% Y/Y), but remains in double digit territory. German inflation accelerated as forecast by 0.4% M/M, from 8.5% Y/Y to 8.8% Y/Y. Next month could see a leap towards 10%+ with one-off […]