Latest Market News

Bailey Talks Down Pound GBP has come back under selling pressure into the end of the week following comments from BOE governor Bailey who yesterday suggested that UK rates might have peaked. During a PR event yesterday, Bailey cautioned that further rate hikes were not inevitable and that any further adjustments will be data dependent. […]

EUR Falls on Inflation Data EUR is trading lower today on the back of the latest flash eurozone inflation data released this morning. The first look at CPI for last month showed the headline reading cooling slightly to 8.5% from 8.6% prior year-on-year. However, this was a touch above the 8.3% the market was looking […]

EURUSD, “Euro vs US Dollar” EURUSD has pushed off the upper border of the descending channel. The instrument is going inside the Ichimoku Cloud, which suggests a flat. A test of the upper border of the Cloud at 1.0655 is expected, followed by falling to 1.0435. A signal confirming the decline will be a bounce […]

USDCHF, “US Dollar vs Swiss Franc” On H4, the quotes are above the 200-day Moving Average, revealing prevalence of an uptrend. The RSI has bounced off the support level. The quotes should now rise above the resistance level of 7/8 (0.9460) and grow to 8/8 (0.9521). The scenario can be cancelled by a downward breakaway […]

Daily Market Outlook, March 2, 2023 All Eyes On Euro Area Inflation ISM data left Wall Street closing on a whimper, markets are increasingly pricing a higher terminal rate for the US rate cycle, compounded by hawkish rhetoric from Fed members Bostic & Kashkari both of whom remarked that a 5%+ terminal rate is required […]

Oil Traders Cut Longs The latest CFTC COT institutional positioning report, the first to be released since January 27, saw oil traders pairing back their upside exposure. Net longs were reduced from 249k to 243k contracts. The muted movement in positioning has been well reflected in the muted price action we’ve seen in crude recently […]