Tag: tickmill
Gold investors appear to have become weary of waiting for low interest rates (as central banks show no indication of halting their current tightening course), developments in the US banking stress narrative or geopolitical tensions that would ultimately validate their optimistic outlook for gold’s growth potential. On Wednesday, gold accelerated its decline, and the test […]
Aussie CPI Slips The Australian Dollar has fallen lower today on the back of the latest set of Aussie inflation figures overnight. CPI was seen cooling to 5.6% last month, down from the prior month’s 6.8% reading and below the expected 6.1% level the market was looking for. On the back of a further unexpected […]
Daily Market Outlook, June 28, 2023 Munnelly’s Market Commentary… Asian equity markets traded in a mixed fashion overnight, failing to fully sustain the momentum from the gains on Wall Street. The Nasdaq outperformed due to strong data and a rebound in the tech sector. The Australian monthly CPI data, which came in softer than expected, […]
Events in Russia over the weekend went unnoticed in the broader market, with no increased demand for safe-haven assets observed. US Treasury short-term bond yields traded 1-2 basis points lower than the opening level, while oil prices lost momentum in Asia. The stock market during the Asian session also showed no significant signs of risk […]
Further ECB Tightening Needed EUR is rallying today against a backdrop of fresh, hawkish commentary from ECB chief Lagarde. Speaking at the opening of the ECB’s Sintra Symposium, Lagarde warned that rates need to be brought higher in order to bring inflation down. Echoing previous comments, Lagarde stressed the need to bring rates into sufficiently […]
Japan Monitoring FX Moves The Japanese Yen is strengthening today on the back of verbal interventions earlier this morning from key figures. Japanese finance minister Suzuki warned that the government is monitoring FX markets with a sense of urgency and will respond appropriately to any excessive moves. These comments echoed those of another Japanese government […]
CPI on Watch On the back of a surprise rate hike from the BOC this month, the latest round of Canadian CPI data will be closely watched today. Along with hiking rates by a further .25%, the BOC signalled that further tightening might still be necessary but would depend on the path of incoming inflation. […]
Shop Prices Fall… Slightly On the back of a string of recent upsets, there was at last some good news for the UK today. The BRC shop price monitor for the last month showed that prices cooled to 8.4% from the prior month’s 9%. While obviously, still at elevated levels, the data is at least […]
Daily Market Outlook, June 27, 2023 Munnelly’s Market Commentary… Asian equity markets had a mixed performance overnight as the risk sentiment gradually improved following a mostly negative performance in the US market. The major indices in the US were subdued as the quarter-end approached, with the Nasdaq underperforming due to weakness in the technology and […]
HSBC Opens Up Bitcoin Access Following a sharp rally last week which saw Bitcoin prices breaking out to fresh highs for the year, the leading crypto asset has since cooled a little, falling back below that prior 2023 high. However, with price up more than 20% off the June lows, bullish momentum is still very […]