Lacking Direction

Equity markets are lacking any real direction in Asia and that appears to be carrying into the European session as well. Europe is seeing minor losses on the open, offsetting some of the small gains in choppy trade at the start of the week. This follows a similarly choppy session in the US on Monday […]

Markets Mixed as Spotlight Shines on US CPI

Asian shares struggled for direction this morning as concerns about inflation and the outlook for economic growth weighed on sentiment. Overnight, Wall Street’s main indices were mostly flat with a sales warning from Nvidia dragging down the tech sector. In Europe, stocks are expected to open lower due to the growing caution ahead of the […]

Bitcoin's Third attempt to take 24,000

Bitcoin rose 3.5% to $24,100 on Monday and retreated slightly from the highs to 23900 on Tuesday morning. Ethereum is trading near $1780, adding 3.5% in the last 24 hours. Top altcoins have gained between 0.2% (BNB) and 5% (Polkadot). The total capitalisation of the crypto market, according to CoinMarketCap, rose 1.9% to $1.13 trillion […]

Aussie Rally Takes Breather

In the European session, the Australian dollar is trading at 0.6991, up 0.10% on the day. This follows massive gains on Monday, when AUD/USD soared 1.04% and briefly pushed above the symbolic 70 level. The US dollar’s recent rally has fizzled, but don’t count Uncle Sam out. US Treasury yields have been dropping, which is […]

US Inflation: Is the Elusive Peak Finally Here?

Following last week’s blistering jobs report out of the United States, investors will be turning their attention to Wednesday’s July inflation figures as bets of a 75-basis-point rate hike in September are back on. However, this time round, the CPI data, due at 12:30 GMT, might break with recent tradition and point to some cooling […]

NZD Slides, Employment Report Next

The New Zealand dollar has reversed directions today and recorded sharp losses. NZD/USD is trading at 0.6285, down 0.75% on the day. Risk appetite has fallen, with US Speaker of the House Nancy Pelosi’s controversial trip to Taiwan sending risk appetite lower. The safe-haven Japanese yen has extended its gains, while risk-related currencies like the […]

Oil Decline Could Accelerate

WTI oil lost more than 4.5% on Monday, returning to the area of last month’s lows and marking a new stage of the downtrend. Oil dynamics are tightly linked to the expected economic growth rate and appear weakly linked to gas prices. The trend in oil has already turned downwards in the first half of […]

Euro Eyes Services PMIs

The euro is in negative territory today. EUR/USD is trading at 1.0207, down 0.51% on the day. Will weak German data weigh on euro? Germany, the largest economy in the eurozone, is showing signs of weakness, which bodes badly for the rest of the eurozone as well as the euro. The week started off with […]

Pelosi Rocks the Boat

Markets Pelosi rocks the boat. The Speaker of the House is about to set foot on Taiwanese soil to meet the president (tomorrow) and it’s very much against the will of China. Taiwan is a self-governing island but China considers it part of its territory. High-level meetings like these are viewed as supportive of Taiwan’s […]

Gold and USD Prices Benefit from Geopolitical Tensions

Released and Expected Data The RBA hiked rates by 50 points taking current interest rates up to 1.85%. investors await the RBA governor’s speech on Friday to find out more about the reason behind raising interest rates and if there is any forward guidance from the central bank over the coming period. On the other […]