- S&P 500
4,289.28 +0.51% - Dow 30
33,808.75 +0.43% - Nasdaq
13,222.29 +0.90% - Russell 2000
1,877.44 -0.58% - Crude Oil
70.75 -2.45% - Gold
1,981.20 +1.16% - Silver
24.38 +3.60% - EUR/USD
1.0784 +0.78% - 10-Yr Bond
3.7350 -1.29% - GBP/USD
1.2549 +0.88% - USD/JPY
138.9610 -0.78% - Bitcoin USD
26,453.06 +0.46% - CMC Crypto 200
588.94 +0.28% - FTSE 100
7,599.74 -0.32% - Nikkei 225
31,641.27 -0.85%
- Reuters
UPDATE 2-European shares steady as rate jitters weigh, firm pound drags FTSE 100 down
European shares were subdued on Thursday as rate-sensitive technology shares and consumer staples slipped on expectations of further interest rate hikes by major central banks, while a sharp slide in Vodafone shares weighed on the telecoms sector. The pan-European STOXX 600 index was flat, with the rate-sensitive technology sector down 0.3%.
- Reuters
European shares steady as rate jitters weigh, firm pound drags FTSE 100 down
(Reuters) -European shares were subdued on Thursday as rate-sensitive technology shares and consumer staples slipped on expectations of further interest rate hikes by major central banks, while a sharp slide in Vodafone shares weighed on the telecoms sector. The pan-European STOXX 600 index was flat, with the rate-sensitive technology sector down 0.3%. Britain's FTSE 100 led losses among regional peers, with export-heavy consumer staples such as Unilever and Reckitt Benckiser Group PLC under pressure as the pound rallied near 0.9% on expectations of more interest rate hikes by the Bank of England after a forecast showed UK inflation is set to remain elevated this year.
- Investing.com
Asia FX weakens, yuan at 6-mth low as state banks cut rates
Investing.com -- Most Asian currencies inched lower on Thursday amid increased concerns over rising interest rates and slowing growth across the globe, while the dollar hovered near 11-week highs ahead of a Federal Reserve meeting next week.
- Investing.com
Australian exports slide, trade surplus misses expectations in April
Investing.com -- Australian exports fell in April, while the country’s trade surplus shrank more than expected as softening demand for commodities, particularly in China, saw a drop in metal shipments.
- Reuters
FOREX-Dollar edges up against yen as investors wait on inflation data, Fed
The U.S. central bank is expected to hold rates steady next Wednesday as it evaluates the impact of recent rate increases, though Fed fund futures traders are pricing for an additional rate hike in July. Consumer inflation data on Tuesday is expected to show that prices rose by 0.30% in May. "We expect a fair degree of consolidation ahead of the Fed decision next week," said Bipan Rai, North American head of FX strategy at CIBC Capital Markets in Toronto. Traders have also priced out most expectations that the Fed will cut rates this year as inflation remains above target.
- Reuters
CANADA FX DEBT-Restart of BoC rate hikes lifts Canadian dollar to 4-week high
The Canadian dollar strengthened to a four-week high against its U.S. counterpart on Wednesday as investors bet that the Bank of Canada would continue to raise interest rates next month after it tightened for the first time since January. The Canadian central bank hiked its benchmark rate by 25 basis points to 4.75%, the highest level in 22 years, on increasing concerns that inflation could get stuck significantly above its 2% target amid persistently strong economic growth. "The tone of the statement was pretty hawkish, which is not a surprise given the recent data flow," Benjamin Reitzes, Canadian rates & macro strategist at BMO Capital Markets, said in a note.
- FX Empire
USD/JPY Forecast – US Dollar Continues to Strengthen Against the Yen
The US dollar initially pulled back during Wednesday’s session but turned around to show signs of strength again.
- FX Empire
GBP to USD Forecast – British Pound Rallies on Wednesday
The British pound has rallied significantly during the day on Wednesday as the 50-Day EMA continues to cause support.
- FX Empire
GBP/JPY Forecast – Pound Continues to Find Buyers on Dips
The pound continues to see buyers on dips against the Yen.
- FX Empire
EUR/USD Forecast – Euro Continues to Find Support
The euro has pulled back just a bit during the early hours on Wednesday, only to find support underneath the crucial 200-Day EMA yet again.
- FX Empire
AUDUSD Forecast – Australian Dollar Continues to Have Upward Momentum
The Australian dollar has rallied again after testing the 50-Day EMA on Wednesday. At this point, the market will likely continue to see many questions asked about the 0.67 level.
- Reuters
Canadian dollar rises to 4-week high as BoC resumes rate hikes
TORONTO (Reuters) -The Canadian dollar strengthened to a four-week high against its U.S. counterpart on Wednesday as investors bet that the Bank of Canada would continue to raise interest rates next month after it tightened for the first time since January. The Canadian central bank hiked its benchmark rate by 25 basis points to 4.75%, the highest level in 22 years, on increasing concerns that inflation could get stuck significantly above its 2% target amid persistently strong economic growth. "The tone of the statement was pretty hawkish, which is not a surprise given the recent data flow," Benjamin Reitzes, Canadian rates & macro strategist at BMO Capital Markets, said in a note.
- Yahoo Finance UK
Time to buy Copper? Low price could offer investors opportunity
The price of copper continues to extend losses to November lows following weak economic data from China, which is normally the top metals consumer.
- Investing.com
Safe haven dollar edges higher after weak Chinese trade data
The U.S. dollar edged higher in early European trade Wednesday, as traders sought out this safe haven after disappointing Chinese trade data hit sentiment. China's trade surplus sank to a 13-month low in May, according to data released earlier Wednesday, driven chiefly by a surprise drop in exports as foreign demand for Chinese goods dried up. Money markets are pricing in a roughly 19% chance that the U.S. central bank will raise rates by 25 basis points next week, compared to an over 60% chance a week ago, according to the CME FedWatch tool, after weak U.S. services activity data.
- Investing.com
Asia FX muted as Chinese, Australian economic data disappoints
Investing.com -- Most Asian currencies were muted on Wednesday as weaker-than-expected economic prints from China and Australia soured sentiment towards the region, while anticipation of an upcoming Federal Reserve meeting also weighed.
- Investing.com
Australian economy barely grows in Q1 amid high rates, sticky inflation
Investing.com -- Australia’s economy grew substantially less than expected in the first quarter of 2023, data showed on Wednesday, as pressure from rising interest rates and overheated inflation weighed heavily on spending and economic activity.
- Investing.com
Yen likely set for more pain against dollar as wage data to keep BoJ policy loose
Investing.com – The yen will likely continue to drag its heels against the dollar, MUFG says, as the latest economic Japanese data showing weaker wage growth is expected to keep the Bank of Japan leaning dovish at the policy meeting next week.
- FX Empire
USD/JPY Forecast – US Dollar Finds Buyers on the Dip
The US dollar initially pulled back against the Japanese yen on Tuesday, but then turned around to show signs of life yet again.
- FX Empire
GBP to USD Forecast – British Pound Gives Up Early Gain
The British pound initially tried to rally during the trading session on Tuesday, but the market turned around to show signs of hesitation.
- FX Empire
GBP/JPY Forecast – British Pound Sees Buyers After Initial Dip
The British pound initially fell during the trading session on Tuesday, but then turned around to show signs of life to show stability and strength.
- Yahoo Finance UK
Pound slips against dollar as UK takeover activity declines
The pound lost ground against the dollar on Tuesday, falling more than 0.2% to $1.24.
- FX Empire
EUR/USD Forecast – Euro Slams Into Trendline
The euro has fallen again during the trading session on Tuesday, as we continue to threaten a breakdown overall.
- FX Empire
AUDUSD Forecast – Australian Dollar Pierces 50-Day EMA
The Australian dollar has rallied initially during the trading session on Tuesday, breaking well above the 50-Day EMA initially before running into resistance.
- Investing.com
Dollar retreats with traders on Fed watch; RBA hike boosts Aussie
The U.S. dollar retreated in early European trade Tuesday, while the Australian dollar soared after the RBA hiked interest rates once more in its fight against elevated inflation. The dollar has seen some volatility over the last few days as traders try to work out what the Federal Reserve will decide in terms of interest rates at next week’s meeting. Friday’s jobs report only muddied the waters, as the blowout payrolls number suggested room for the Fed to hike once more but the unemployment rate rose and the slowdown in the growth of average wages pointed in the other direction.
- Investing.com
Australian dollar rallies as RBA raises interest rates again
Investing.com-- The Australian dollar surged 0.7% on Tuesday following the Reserve Bank of Australia's (RBA) decision to increase interest rates by 25 basis points (bps) to 4.10% on Tuesday, surpassing market expectations. This move marks the second rate hike after a brief pause in April, driving interest rates above 4% for the first time in nearly 12 years.
