German data was in the spotlight on Wednesday, with the release of German inflation and ZEW Economic Sentiment. The numbers were worrying, but the euro's response was muted, as the currency trades in the mid-1.08 range.
German CPI for March came in as expected, at 7.3% YoY. Still, this was a large jump from the 5.1% gain in February and marks the highest...
Gold has been in consolidation for days but it may be breaking out of this at the end of the week.
The range has been tightening in recent days, even at a time when other markets were seeing plenty of volatility on the back of another hawkish move by the Federal Reserve.
That at one time would have been a negative for gold as higher rates are typically...
The New Zealand dollar has extended its losses on Thursday and dropped below the 69 line. In the North American session, NZD/USD is trading at 0.6887, down 0.42% on the day.
The hawkishness of the FOMC minutes was not a surprise, given that the markets had heard this from Fed members George and Brainard a day earlier. Still, a hawkish Fed that is accelerating its...
Bitcoin appeared to have made a very bullish move last week when it finally broke above $45,500 but since then, it's all been downhill.
Sentiment in the broader markets has dipped in recent days and bitcoin has suffered as a result. Even prior to this, it failed to capitalise on the initial breakout which may have been a sign of what was to come.
While the trend...
The New Zealand dollar continues to rally and is up 0.82% this week. Earlier in the day, NZD/USD punched above the symbolic 70 line and rose to 0.7034, its highest level since November 2021, before retreating lower.
The US Services PMI for March pointed to continuing expansion, with a reading of 58.3. This was shy of the consensus of 58.9 but an improvement from...
The Aussie dollar has performed well against the greenback since early February and while it appeared to have lost some momentum recently, it may have rediscovered that today.
The pair ran into resistance around the late-October highs last week and has been in consolidation since but as you can see today, it's spiked higher and the MACD and stochastic on the...
Inflation has been skyrocketing in the US and UK, giving the Fed and BoE plenty of sleepless nights. Inflation levels had been lower in the eurozone, and ECB President Christine Lagarde has not made inflation a priority, arguing that high inflation would ease. Meanwhile, eurozone inflation for March jumped to 7.5% YoY, up from 5.9% in February and above the...
The British economy performed better than expected in the fourth quarter. Final GDP rose by 1.3% in Q4 of 2021, upwardly revised from the first quarterly estimate of a 1.0% gain. Final GDP beat the forecast of 1.0%. On an annualized basis, GDP in 2021 jumped 7.4%, a massive turnaround from -9.3% in 2020.
The economy has almost completely recovered from the...
The rally in USD/JPY has massively accelerated in recent weeks as markets and the Fed have become increasingly hawkish on US interest rates.
This has happened at a time when many central banks are heading in that direction, even the ECB which at one point looked years away from interest rates above 0%. While they haven't yet conceded on the kind of rate hikes...
After a strong week, the Australian dollar has reversed directions and dropped below the 0.75 line on Monday. Investors will be keeping an eye on Australian retail sales, which will be released on Tuesday. The markets are expecting a gain of 1.0%, down from 1.8% in January.
The month of March has been kind to the Australian dollar, with sharp gains of 3.47%....
In the latest twist in the crypto space, Russian lawmaker Pavel Zavalny, claimed the country may consider accepting payment for oil and gas in bitcoin from friendly countries.
I mean, this should seriously be taken with a pinch of salt for a number of reasons. Not least Russia's widely known opposition to cryptos. Add to that the fact that one major friendly...
After a period of consolidation, gold prices have been rising again in recent days, hitting a 10-day high in the process.
This comes even as central banks signal an aggressive tightening cycle this year to combat soaring inflation and risk appetite remains healthy as Ukraine and Russia continue to engage in negotiations.
Clearly, there is still plenty of...
Oil prices have been rising once again over the last week as the EU has considered banning Russian imports and an outage on a pipeline that runs through the country reduced output by around one million barrels per day.
Sanctions imposed by the West have already caused significant disruption to Russian oil exports which could total around three million barrels per...
GBP/USD has resumed its upswing after a quiet start to the week. GBP/USD is trading at 1.3261 in the North American session, up 0.75% on the day.
It was just one week ago that the pound was in the dumps, falling to the symbolic 1.30 line. Since then, the currency has gone on a tear, gaining around 2%. With plenty of turbulence and uncertainty, from the Ukraine...
The euro has rebounded well against the dollar over the last week as risk appetite has modestly improved but it's already running into some trouble.
The pair has been in a long-term downtrend and we could soon see if that is set to continue. It has run into resistance around 1.1150 where prior support and resistance coincides with the 50 fib level - February...
The euro has been performing relatively well against the pound recently after a prolonged downward spiral going back to late 2020, but can it keep it up?
The pair was given another boost by the Bank of England on Thursday, despite the MPC agreeing on a third consecutive rate hike taking the base rate to 0.75%. What weighed on the pound - and therefore lifted this...
The New Zealand dollar has extended its gains for a second straight day. NZD/USD is trading just above the 0.68 line in the North American session.
As expected, the Federal Reserve raised rates for the first time since 2018. Fed Chair Powell said he expects inflation to start to ease and that the Fed had a plan to raise rates during the course of the year....
It's been a highly volatile period in the markets, with equities coming under severe pressure as a result of high inflation, the Russian invasion of Ukraine, and the sanctions against it that followed.
The UK100 has shown more resilience than its European peers during that time, in part as a result of the UK having fewer trade ties - particularly oil and gas -...
