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S&P is flirting with trend resistance – EURUSD with engulfing patterns

On Thursday, European stocks lost for second day in a row and looks to end the week with a loss for the second week in a row. Especially Financial and Utilities have been under pressure. In the US, markets are also looking fragile, but the S&P is resilient and flirting with trend resistance projected from […]

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USD strength losing steam – EURUSD back above 1.12 pre ECB

Recently the macro figures coming from the US economy have been supportive of a near term rate increase, but the market got caught off guard yesterday as the Construction Spending came out significantly lower than expected. ISM and Markit manufacturing PMIs came out pointing in each direction, so we cannot conclude anything from that. However, […]

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Asia in Negative Despite Strong AU GDP. Manufacturing in Focus today

Stock markets in the US finished on a mixed note with the S&P and the DOW in minus, whilst the Nasdaq managed to take home a 0.3% gain. The US Dollar continued overall on the bid and has shown a solid performance in May on back of re-ignited rate speculation, taking the US Dollar Index […]

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Risk supported by 6-months high oil prices – Inflation in focus today

While some markets in Europe were closed yesterday, global risk taking was on in equity markets. US markets closed about 1% higher and the US dollar sold off, less the JPY and the GBP was in demand ahead of the inflation data today, which is expected to be supportive for the Sterling following recent BoE statements. […]

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RBA surprises markets – sending rates to historical lows

Despite a UK Bank Holiday, markets were very active yesterday. From Europe, upbeat PMIs from the manufacturing sector, European markets were mixed yesterday as risk aversion spilled over from the Asian session. In the afternoon, US figures triggered a sell-off in the US Dollar, which has continued overnight printing new 2016 lows against the CAD, […]


Mixed Sentiment Ahead of FOMC, Oil in new 2016 highs

Markets have been trading more or less sideways in the beginning of this week in light of key statements from the Federal Open Market Committee in the US and important macro figures for developed markets coming up.  Despite oil printing new 2016 highs, weak figures (Durables, Services PMI, Consumer Confidence) from the US put a […]


US labour market remains strong – Commodity currencies under pressure

Following an upbeat US Labour Market Report for March, risky assets in the US enjoyed a positive mood which this morning has continued in Asia, less Japan. China is closed today for Tomb Sweeping Day. A weaker than expected Australian Retail Sales for February has overnight sent the AUD lower across the board and AUDUSD is back below […]

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Another round of USD weakness post dovish Yellen – S&P500 in 2016 highs

Markets were fairly range bound in the EU session yesterday, but this changed drastically following Yellen’s comments before the Economic Club of New York, which sent the Dollar Index down with 1% and the US Dollar tumbled against all peers. US and Asian stock markets, less Japan, enjoyed Yellen’s comments as their cost of capital remains […]

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Risk taking subdued post FOMC rally

Last week, besides the main event from the FOMC, many other central banks followed suit in posting dovish comments on the monetary outlook in light of the recovery in global growth taking longer time than anticipated. Markets are trading on back of the monetary events taking place and this creates a lot of noise for […]