Analysis

Sterling broadly flat ahead of UK manufacturing PMI

Sterling broadly flat ahead of UK manufacturing PMI

Asia-Pacific markets dip on weak Chinese PMI. S&P Global manufacturing PMI signals contraction. UK's manufacturing PMI falls, but services improve. Eurozone M3 money supply stays negative. US manufacturing PMI and construction spending data awaited. Currency markets stable, US 10-year Treasury yields rise, oil prices firm at $78.30.
Moneta Markets | 506 days ago
Prospects of Canada’s GDP Growth

Prospects of Canada’s GDP Growth

In the intricate tapestry of Canada's economic landscape, the month of October brought about a stalling moment, as the Gross Domestic Product (GDP) showed no significant change on a month-on-month (m-o-m) basis, diverging from the anticipated 0.2% gain predicted by consensus expectations.
ACY Securities | 510 days ago
USD Nothing New Going Into the New Year

USD Nothing New Going Into the New Year

The opening of the Asian session set a positive tone, propelled by a significant downward revision to the United States' Q3 GDP figures, indicating a palpable deceleration in the nation's economic activity. This revision, in turn, fuelled heightened investor expectations of an assertive rate cut by the Federal Open Market Committee (FOMC) in the year 2024.
ACY Securities | 510 days ago
Daily Global Market Update

Daily Global Market Update

GBP/USD, Bitcoin, and Oil/USD fell; Binance resilient amid regulations; Gold up 5th day on Fed hopes. Economic releases: US Chicago PMI, Baker Hughes Rig Count, Spain CPI, Dutch Retail Sales, Japan, and UK CFTC Net Positions.
Moneta Markets | 510 days ago
Daily Global Market Update

Daily Global Market Update

Euro strengthens, Dollar weakens, Gold rises (watch for overbought), Google stock retreats. Global economy ends 2023 strong, but risks persist. Upcoming: US jobless claims, oil stocks, Spain retail, Austria PMI, Italy bond auction.
Moneta Markets | 511 days ago
Dollar Dips in Thin, Holiday Trade, AUD Breaks Higher

Dollar Dips in Thin, Holiday Trade, AUD Breaks Higher

The Dollar Index (USD/DXY), a popular measure of the Greenback’s value against a basket of 6 major currencies, dipped to 101.45, from 101.70, and its lowest finish since 27 July. The USD/JPY pair, however, edged higher to 142.45 (142.35) after Japan’s November Jobless Rate remained unchanged, at 2.5%. The Dollar traded to an overnight high at 142.67 JPY before easing.
ACY Securities | 512 days ago
Decoding Japan’s Policy Stance and Unravelling Sterling Dynamics in 2023

Decoding Japan’s Policy Stance and Unravelling Sterling Dynamics in 2023

As I delve into the intricacies of the Bank of Japan's recent decisions, it's evident that the BoJ has maintained its steadfast position, refraining from any end-of-year surprises. From my perspective, the global easing of yield pressures and the perceived inclination towards quicker "adjustment" cuts in the US create an environment.
ACY Securities | 512 days ago
Continued Slow Erosion, From Shifting Headwinds

Continued Slow Erosion, From Shifting Headwinds

On my thoughts, it's evident that the US Dollar (USD) continues its gradual erosion, influenced by various shifting headwinds. Looking ahead to the entirety of 2023, indications point towards a mild depreciation of the Dollar, with estimates projecting a -1% decline based on the DXY and a broader trade-weighted index showing a decrease of -1.3%.
ACY Securities | 512 days ago
Daily Global Market Update

Daily Global Market Update

Bitcoin down 2.8%, reversal possible. Nike falls 0.2%, negative trend likely. AUD/USD up 0.2%, overbought. Gold gains 0.6%, correction ahead. Oil up amid tensions; Dollar falters. Zhao's wealth surges $25bn. Key economic data due: US, Finland, Japan.
Moneta Markets | 512 days ago