UK Inflation Exceeds 10%

European and US indices traded mostly in the positive on Tuesday. The DAX gained near 0.70% and is preparing to clear the major 38.2% Fibonacci resistance in on year-to-date selloff despite the deepening energy crisis, which has only worsened with the drying Rhine River this summer. Equities in the US escaped negative pressure thanks to […]

UK Inflation Once More Exceeded Consensus in July

Markets Yesterday’s eco numbers (German ZEW investor sentiment, US housing numbers) played no role of intraday importance across markets. The main intraday move on bond markets occurred around the start of US trading hours. Bonds sold off following earnings by retailers Wall Mart and Home Depot. Both managed to beat expectations, though we must add […]

Mixed Ahead of Fed Minutes

A mixed start to trade in Europe after a more promising session in Asia overnight where stocks may have been boosted by talk of more pro-growth policies in China. That followed disappointing data late last week and early this from the world’s second-largest economy so the comments came at a good time. Still, we’re not […]

Last Eurozone Inflation Data Before ECB Meeting

The ECB won’t meet until September 8th, which is before the next release of inflation data. Meaning that they will likely be deciding monetary policy on the data that comes out tomorrow. And this could be a pretty big deal, because inflation in Europe is expected to surpass inflation in the US, while the ECB […]

Bitcoin, Ethereum corridor and new dog race

Market picture Bitcoin has added 1.5% to $24.3K in the past 24 hours. Over the past couple of hours, the first cryptocurrency has regained Tuesday’s slump, finding support from buyers at last Friday’s local lows. Ethereum, following trends in recent weeks, is returning the drawdown even more vividly, adding 3.3% overnight to $1940. Top altcoins […]

Pound Yawns as UK Inflation Hits 10.1%

The British pound is almost unchanged today, trading just above the 1.21 level. UK inflation hits double-digits It hasn’t been a good week for the UK, with today’s inflation report following grim wage growth numbers. Headline inflation in July hit 10.1% YoY, up from 9.4% and above the estimate of 9.8%. It was a similar […]

Inflation in Britain Hasn't Peaked, and the GBPUSD is Not Bottomed Out

While economists in the US and Canada, and later policymakers, are talking about peak inflation, that moment is yet to come for the UK. Annual inflation has reached double-digit territory at 10.1%. At the same time, the monthly price growth rate remains elevated. It is also important to note the spread of inflation beyond energy. […]

New Zealand Dollar Slides after RBNZ Hike

RBNZ delivers another 0.50% hike The New Zealand dollar has taken a tumble today. In the European session, NZD/USD has declined by 0.88% and is trading at 0.6289. We continue to see plenty of volatility from the New Zealand dollar. Last week, the currency rose 3.33%, but has pared those gains this week and is […]

Japan CPI Inflation to Come in Hotter

After an upbeat GDP report, July’s CPI inflation will take center stage on Friday at 00:30 GMT, likely testing the central bank’s policy commitment to an ultra-easy strategy for another month as growth in consumer prices, although gradual, is expected to stage another pickup. Despite that, the data may not be enough to change the […]

Aussie Slides Below 70

The Australian dollar is taking it on the chin today. In the North American session, AUD/USD is trading at 0.6925, down 1.30% on the day. China’s weakness weighing on Aussie The Australian dollar is having a miserable week, down 2.76%. This has wiped out almost all of last week’s gains of 3.05%, as the Aussie […]