Tag: tickmill
US CPI Falls Again The US Dollar has come under heavy selling pressure today on the back of yesterday’s US inflation data. On the yearly figure, CPI was seen cooling to 3% from 4% prior, below the 3% reading the market was looking for. Both monthly readings were also seen coming in below expectations. Having […]
GDP Dips in May… But Less Than Expected The latest set of UK economic data today was a mixed bag. On the headline GDP reading, the UK economy was seen contracting in May, falling 0.1% against the prior month’s 0.2% reading. However, the dip has largely been attributed to the extra bank holiday in place […]
Gold Rallying The fall in USD this week has helped gold prices recover sharply. With US inflation seen cooling further last month, US rate hike expectations have plummeted. While a hike is still priced in for the July meeting, beyond that traders are expecting the Fed to hold rates steady through until the first projected […]
The FTSE Finish Line – July 12 – 2023 FTSE & Sterling Soar As A Weak USD Supports Miners And Banks Pass Stress Tests The FTSE is firmly in the green heading into the close of trade on Wednesday. The positive momentum was driven by higher metal prices, which lifted mining stocks. Additionally, British banks […]
BOC Up Next The Bank of Canada meeting today is drawing plenty of attention with the BOC widely expected to hike rates by a further .25% on the back of last month’s unexpected rate hike. The BOC signalled at that meeting that further hikes would likely be necessary. Recent data out of Canada has highlighted […]
Oil Rallying Oil prices are trading firmly higher into the middle of the week with crude futures expanding on last week’s gains. The rally has seen futures trading higher by around 12% off the June lows. Price, crucially, is now trading above both the 72.61 level and the bear channel highs. While above this area, […]
Bright Minds Bright Minds is a new podcast hosted by Money Manager and Trading Expert Patrick Munnelly. Through insightful conversations with notable guests, ranging from economic forecasters to psychologists and experienced traders, we seek to answer the most commonly asked questions around trading and investing. Bright Minds is not just another podcast about trading: it […]
Daily Market Outlook, July 12, 2023 Munnelly’s Market Commentary… Asian equity markets exhibited a mixed performance as investors maintained caution ahead of the release of key US inflation data. The Nikkei 225 in Japan declined below the 32K handle. This underperformance was influenced by a stronger Japanese yen, as the USD/JPY currency pair retreated below […]
USD Downside Risks Today’s US CPI release will be pivot for FX markets near-term. While a further .25% hike from the Fed is widely expected as the base case scenario for the July FOMC, expectations have shifted beyond this month. With a less dovish outlook voiced by some Fed members recently and with jobs data […]
RBNZ Holds Rates Steady Following 12 straight months of rate hikes, the RBNZ held monetary policy unchanged at the July MPR overnight. Sitting at 5.5%, the RBNZ noted that policy would remain unchanged for the foreseeable future, citing a technical recession in New Zealand. The bank note that its tightening campaign had helped curb spending […]