The Chinese Central Bank Unexpectedly Eases Monetary Policy

Market movers today There are no significant market movers today. The Chinese central bank unexpectedly cut policy rates this morning. The key numbers and events are the German ZEW indicator tomorrow, UK inflation data and Fed minutes later this week. The 60 second overview The Chinese central bank unexpectedly cut rates this morning as it […]

Soft China, Japan Data Weigh on Sentiment

The week starts moody in Asia, as economic data from China and Japan missed estimates early this Monday. Japanese economy grew last than expected in the Q2, although there was an acceleration in both private consumption and government spending, and capital expenditures rose sharply. Also, net exports contributed positively to the GDP, as exports increased […]

Profit-Taking at Round Levels in Bitcoin and Ether

Market picture Bitcoin rose 5.8% over the past week to near $24.3K. Ethereum jumped 14.3% to $1970. Top altcoins showed a less consistent performance, ranging from -2.3% (BNB) to +12.8% (DogeCoin) over the previous seven days. The total crypto market capitalisation increased by 5.7% over the week to $1.18 trillion, according to CoinMarketCap. The Bitcoin […]

An Underwhelming Start

It’s been an underwhelming start to the week in financial markets with the eternal optimism of investors clashing with the reality of Chinese economic data. There’s a ​ bizarre willingness to turn a blind eye to the economic reality at the moment as long as the Fed doesn’t raise rates too fast. That doesn’t feel […]

Impressive Nasdaq100 March Hits Obstacles on Wednesday

The US stock market recorded the third week of gains, allowing the Nasdaq100 to add 2.1% and overcoming several meaningful resistances, potentially clearing the way for a further leg up. At the same time, local technical overbought conditions have accumulated. Much of the growth is centred around expectations of a Fed move, which may not […]

Yen Steady as GDP Within Expectations

The Japanese yen has started the week quietly. In the European session, USD/JPY is trading at 133.29, down 0.14%. This follows a positive week for the yen, in which USD/JPY declined by 1.15%. Japan’s economy expands by 0.5% Japan’s GDP for the second quarter rose 0.5%. The reading was a notch below the forecast of […]

Chinese Economy Slowdown Spooks Markets and Presses CNY

The statistics released from China today raise concerns about the economy’s near-term prospects, preventing the USDCNH from bucking the uptrend. July data showed a slowdown in retail sales growth from 3.1% y/y to 2.7%, in stark contrast to the average forecasted acceleration to 5.0%. Industrial growth slowed from 3.9% YoY to 3.8% vs 4.5% expected. […]

Recession Risks Weigh on the Market

Market movers today The German ZEW index should give more insights into the severity of the downturn in the euro area. It has proven a good leading indicator in this cycle as PMI’s have tended to follow it with a short lag. The expectations index in July hit the lowest level since 2011 highlighting the […]

Weak Data Revives Dovish Expectations, Oil Slumps

Lack of direction is what investors will be suffering until we see clearer signs of inflation abating. And that will take time, as we must see a couple of encouraging data points to call the central banks’ inflation fight successful. The lack of clear direction is driving the markets up and down. Yesterday, the weak […]

Oil Prices Slipping and Went into Tailspin

Markets Disappointing July Chinese eco data and some PBOC monetary policy easing were the main talking point at the start of the new trading week. The Chinese central bank cut its 1-yr medium term lending facility rate unexpectedly by 10 bps, from 2.85% to 2.75%. It was the first cut since January. The decision came […]