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European Markets Are Trading Lower – US Dollar under selling pressure

European stocks markets are trading lower today. EuroStoxx is falling 1,9%, followed by DAX, -1,32%. In the forex market, the US Dollar continues to suffer from fresh selling pressure against the euro while “Brexit” worries spurred widespread weakness in the British Pound. The EURUSD pair extended its rally beyond 1.1400. Regarding GBPUSD, the pair is […]

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Risk Constructive Ahead of Important US Job Report

Europe closed in mixed territory yesterday following a lower PPI and an ECB which turned out to be a non-event as expected. Strikes and flooding in mainland Europe also had an effect, leading to the DAX just managing to take home gains, whereas the CAC40 and FTSE100 lost ground. In the US, markets were bid, […]

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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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Risk Taking and JPY Unwinding in Quiet Markets

Following a light calendar in the markets, Monday was a relatively quiet session.  The US Dollar advanced on comments from Fed’s Dudley that he still saw two rate hikes as possible in 2016 despite the weak payrolls data from the US. We saw a little action in the GBP, where Cable printed two-week lows at […]

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ECB as Expected; Markets lower on soft earnings, Oil, Manufacturing

Following three days of decent gains in risky assets, markets reversed yesterday on back of uncertainty about global outlook and a drop on oil. Currencies were fairly range-bound and fixed income yields pushing slightly higher, but nothing significant. The big event yesterday was the ECB meeting, where the interest rate and deposit facility were kept […]

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Oil, S&P in new 2016 highs – ECB in focus today

Oil seems to be the main driver for risk at the moment (despite increasing costs for companies) and as the Crude Inventories came out lower than expected due to falling output, oil rallied with WT Crude testing the $44-level before finding offers and has overnight continued on the bid sending the black gold to highest […]

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Monetary Policy in Focus – Will Markets Have Faith in Central Bankers?

ECB’s Draghi added more measures to stimulate the European economy than the market had expected, but since no additional rate cuts were signalled, the market bid the EUR higher testing 1.12+ against the US Dollar before closing the week at 1.1150. Global stocks continued to rebound and enjoyed their forth weekly gain in benchmark indices – […]

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ECB delivered, but signals no additional easing

The ECB did deliver more than the market expected yesterday, but since Draghi did not signal further easing in the press conference, the market bounced back and the EUR printed 2-week highs against most peers (1.1218 in EUR/USD), which probably wasn’t the reaction the central bank had been aiming for. Despite, the outlook for no […]

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All Eyes on the ECB This Week

Good morning, Risky assets continued on the bid for the third week in a row and oil followed suit, taking out 2016 highs at 34.79, which now act as support. Equities enjoyed from the beginning of the week better terms from China and the week ended with a solid, yet somewhat mixed report from the […]