Bitcoin is Lowering But Not Yet Falling

Market picture Bitcoin is losing 3.7% in the past 24 hours, falling to $23.9K%. Ethereum is down 5.2% to $1870. Other top altcoins are down 2% (BNB) to 6.4% (Solana). The total capitalisation of the crypto market, according to CoinMarketCap, fell 3.6% to $1.14 trillion overnight. Bitcoin on Monday failed to claw its way above […]

Markets Remain Worried by Global Recession Fears

Asian shares edged cautiously higher on Tuesday, tracking a rebound in Wall Street overnight despite disappointing economic data from China and the US fuelling recessionary fears. Stocks in the region were supported by expectations over China unleashing more stimulus to support economic growth. In Europe, futures pointed to a steady start, borrowing momentum from Asian […]

Will Canada's CPIs Impact BoC Rate Expectations?

The Bank of Canada is the only G7 central bank to deliver a whole percentage-point rate increase in this post-pandemic hike race, and it did so just at its latest gathering, in July. However, the aftermath revealed another month of job losses for Canada, and with that in mind, market participants may keep a close […]

The UK Job Market Did Not Help Pound

The UK employment statistics package failed to inspire the currency market to buy the Pound. The released data showed a slowdown in the labour market, which is still far from recovering to pre-coronavirus levels. Analysts were tuning in for acceleration, as in the US, but didn’t get it. The number of jobless claims in July […]

The Last Stage of the Gas Bubble

Oil experienced intense pressure on Monday, but the price of natural gas continued its upward trend. This contrast is due to an under-supply of Russian gas to the European market and more speculation around Iranian oil, which could quickly add more than 1m BPD. That said, macroeconomics is now on the side of the energy […]

July US CPI: Has Inflation Peaked (Again)?

Tomorrow’s data could not only be the most important this week, but for the whole month. As we anticipated in Friday’s NFP podcast, there is a lot riding on US inflation data. That is particularly the case after the Fed promised to take a data-dependant approach. And of course inflation is the most important of […]

Pound Edges Higher, Markets Eye US Inflation

The British pound has posted slight gains today. GBP/USD is trading in the European session at 1.2106, up 0.21% on the day. The economic calendar has been light so far this week. On Capitol Hill, the Biden Administration racked up a badly-needed victory ahead of the mid-terms, passing a domestic spending bill which covers climate […]

US: Small Business Confidence Records Modest Improvement in July

The NFIB’s small business optimism index rose 0.4 points to 89.9 in July. This was better than the consensus forecast, which expected the index to drop modestly from June’s level. Pulling back the lens, the index is down 9 points from the end of last year and is still at one of the lowest levels […]

Gold Outlook: Steady Yet Bullish Tendencies Could Occur

Gold’s price was on the rise since our last report yet seems to remain rather lazy given the relative inactivity of the greenback in the past few days. The negative correlation of the two trading instruments came once again on display on Friday as the precious metal’s price dropped in response to USD’s strengthening. The […]

Euro Extends Gains

The euro continues to move higher early in the week.  In the North American session, EUR/USD is trading at 1.0240, up 0.47% on the day. The US dollar, which has been on a downward correction recently, flexed some muscles on Friday, after a superb nonfarm payrolls report, and posted broad gains. However, the gains proved […]