Fundamental Overview The USD got a boost yesterday as the US NFP report came out better than expected and triggered a hawkish repricing in interest rates expectations. Unfortunately for the greenback, that wasn’t enough as wage growth came out on the softer side which limited further repricing. As the market got quickly back to price just two rate cuts…
EUR/USD edges higher in thin liquidity session as markets react to Trump’s ‘Big, Beautiful Bill’. The US Dollar erases gains as debt sustainability issues and renewed tariff threats weigh on the Greenback. EUR/USD rises as bulls remain eager to retest the psychological resistance level at 1.1800. The Euro (EUR) is holding modest gains against the US Dollar (USD) in…
China is playing hardball here as they are not going to endorse the reported tentative deal with French cognac makers from last week. For some background: China reportedly seeks to tie French cognac deal with EV tariff talks The duties will be implemented for a period of five years starting from 5 July. However, there will be some exceptions….
Gold benefits from a weaker Greenback amid thin liquidity on US Independence Day. Tariff uncertainty and Trump’s ‘Big Beautiful Bill’ lift demand for safe-haven bullion. XAU/USD whipsaws between key moving averages as the price hovers above $3,330. Gold (XAU/USD) is trading higher on Friday as news about United States (US) President Donald Trump’s passage of the “Big, Beautiful, Bill”…
Germany’s construction sector remains in contraction territory, but at least the rate of decline slowed towards the end of Q2. That is helped by a stronger upturn in both civil engineering and commercial activity. However, even that hasn’t been enough to offset the drag from residential activity – which remains a big factor in weighing down business confidence as…
Bank of England (BoE) rate-setter Alan Taylor noted late on Friday that downside pressures are continuing to build up underneath the UK’s economy, signaling that early rate cuts may be needed ahead of a questionable forecasting period. Key highlights Would expect bank rate to normalise close to 2.75%, absent shocks. Would expect bank rate, should MPR inflation projections be…
Prior -0.7% Retail sales y/y +1.3% vs +3.7% prior In the three months to May 2025, retail sales fell by 0.1% in value and by 0.5% in volume compared to the previous three-month period. Compared to May 2024, retail sales increased by 3.2% for large-scale distribution, decreased by 0.4% for small-scale distribution, remained stable for non-store sales and fell…
GBP/USD holds steady amid holiday thin trading, UK debt concerns in focus The British Pound (GBP) is treading water against the US Dollar (USD) on Friday, as the Sterling comes under renewed pressure amid lingering fiscal concerns. A combination of cautious risk sentiment, stronger-than-expected US Nonfarm Payrolls (NFP) data, and political uncertainty in the UK is keeping the Pound on the…
That’s the sixth month running that total activity has fallen but at least at a lesser pace in June. That being said, new orders is an issue as it continues to decline at a quicker pace on the month. That is leading business optimism to dwindle further to its lowest in two-and-a-half years. S&P Global notes that: “June data…
WTI Crude Oil remains under pressure near mid-$65s amid thin holiday trading and a lack of fresh catalysts. Traders remain cautious ahead of the July 5 OPEC+ meeting and the July 9 deadline for potential US tariff action. OPEC+ is expected to approve a third consecutive supply increase for August, though actual output remains below target. West Texas Intermediate…
