Fundamental Overview Gold continues to slowly push upwards amid the higher December Fed rate cut odds. The recent US labour market data came in on the softer side, which should keep the upward momentum intact into the FOMC meeting. Looking ahead, everything will depend on the Fed’s forward guidance and the following NFP/CPI reports. A more dovish Fed guidance…
S&P 500 continued rising also through the Wednesday‘s regular session, much to clients‘ satisfaction – so lasting are the consequences of refusal to decline on poor retail sales and PPI Tuesday, that not even three white soldiers on ES daily stood a chance. Check out Wednesday‘s super extensive analysis feat. 8 charts in its full version, unlocking premium insights…
Considering the timing and circumstance, I wouldn’t read too much into the moves we’re seeing today. Not only is it month-end but also liquidity conditions are more sapped amid the Thanksgiving holiday break. Sure, US markets are open for a half-day today but it doesn’t take away from the fact that most flows will have already been settled before…
Bitcoin, Ethereum and Ripple are struggling to sustain their recovery on Friday, reflecting a sticky bearish sentiment. Since the October 10 flash crash, which liquidated over $19 billion in crypto assets in a single day, retail interest in crypto assets has been significantly suppressed.
Headlines: Markets: JPY leads, NZD lags on the day European equities slightly higher US 10-year yields down 0.6 bps to 3.992% Gold up 0.4% to $4,174.74 WTI crude oil up 0.7% to $59.08 Bitcoin up 0.1% to $91,519 You wouldn’t blame anyone for not wanting to stay at their desks today, not least with the Thanksgiving holiday still running…
EUR/CAD trades around 1.6180 on Friday at the time of writing, down 0.50%, as macroeconomic developments strengthen the Canadian Dollar (CAD) while leaving the Euro (EUR) lacking momentum. The European currency reacts to mixed data, whereas the Canadian economy showed a stronger-than-expected recovery in the third quarter. In the Eurozone, Friday’s releases paint a contradictory picture. In France, the…
Prior +2.3% HICP +2.6% vs +2.4% y/y expected Prior +2.3% Core CPI Y/Y 2.7% vs 2.8% prior The headline figure is unchanged from the prior month which is what was expected after the unchanged state readings released earlier in the session. The ECB targets the HICP, which jumped to 2.6% from 2.3% in the prior month. The Core CPI…
China NBS Non-Manufacturing PMI down to 49.5 in November from previous 50.1
Prior -1.6% (revised to -1.8%) GDP Q3 Q/Q +0.6% vs -0.4% prior (revised to -0.5%) GDP for September M/M +0.2% vs +0.2% expected Prior -0.3% (-0.1%) GPD for October preliminary -0.3% This is a huge surprise for Canadian GDP. The BoC projected +0.5%, so this blows it out of the water (although it was mainly driven by a big…
China NBS Manufacturing PMI in line with expectations (49.2) in November
