Financial News
Stay up to date with what is driving financial markets
POUND SLUMPS
The Pound initially had a little boost as the BOE was not as dovish as expected. The new BOE governor confirmed these ideas later, saying that negative rates and YCC weren't discussed. £1 - worth less today due to BOE announcement However, soon after the ramp up price...
read more
SMALL RANGES; WAITING FOR THE NEXT NEWS INPUT
The equity market continued its grind higher and volatility dripped down again. Fed's Bostic was positive on jobs coming back & Powell reiterated that more support from Congress was needed. He also made the point that any curb in main street benefits would curb...
read more
HEADLINE PACKED DAY
Today had potential for volatility with a heavy news schedule and fireworks were certainly present in the afternoon. US COVID cases are jumping higher, with Texas hospitalisations hitting a new record and Arizona new cases up 6.5% v's 2.8% expected and Beijing is...
read more
MONDAY RECOVERY
The reliable pattern seems to be back, for now, with a heavy close last week carrying through to early trading in the new week, sucking in some more liquidity to the downside before a harsh reversal. Today it looks to have been helped by an updated Fed corporate bond...
read more
DXY BOUNCES; EQUITIES FALL
NBER declared that the US entered a recession in February, using labour statistics and monthly PCE to make their decision. COVID figures are rising in the US, with a 'second wave' feared in the media; this is still the first wave. Looking at the data, COVID cases in...
read more
The Market Doesn’t Like No YCC
So far, it has certainly been a buy the rumour sell the fact after FOMC yesterday with all equities down heavily on the day. Powell said the same support would be there- but didn't over-promise & left yield curve control as a distant option. Elsewhere, Copper fully...
read more
NASDAQ HITS 10k
Against a backdrop of a worldwide pandemic & riots, the US tech. index has breached 10,000 for the first time. Aside from the NASDAQ, equities were quite weak, with European equities closing lower and SP500 looking to do the same. It was an odd up and down day, with...
read more
Jump In NFP Helps Boost Risk
NFP estimates were miles off the mark on Friday. The old cognitive bias is kicking in strong for economists in this turbulent time and I doubt it is the last major deviation we will see in the coming months - though this was certainly a large one. The initial reaction...
read more
Intex Open Trades
TRADE UPDATES into the close XAGUSD long - stop@ 16.64238CADJPY long - stop@ 79.857GBPUSD long - stop@ 1.2446USDCAD long - stop@ 1.3425EURJPY short - stop@ 123.35AUDJPY short - stop@ 76.28GBPJPY short -...
read more
EURO BREAKS HIGHER
While the market was waiting for the ECB to be out of the way, the real news continues to be Germany's willingness to keep the purse strings open, with Merkel getting further stimulus approved yesterday & furthermore, hopes of closer fiscal union between the whole of...
read more
MARKETS FLOAT HIGHER
Though markets moved higher today, it wasn't as bullish a day as earlier in the week. Copper is currently down on the day, the Australian Dollar had an up day but around half the range of recent days & oil was choppy amongst various OPEC headlines. European equities...
read more
Riots Help The Rally
There's a market cliche that when there's blood on the streets, it's time to buy - and there is rarely blood on the streets in the US. As such, the market dutifully rallied, albeit to less of an extent in the US, with money flowing into European & Asian equities -...
read more
Intex Open Trades
CCY PairLong/ShortStop @EntryEURGBPLong0.88704XAGUSDLong16.642EURUSDShort1.11651.0905AUDJPYShort71.9770.47EURJPYShort120.86119.66USDCADLong1.37021.3882GBPJPYShort133.82132.66todays current...
read more
EURO MAKES A BREAK
Amid general USD weakness with the current risk-on tone, the Euro eventually broke out of its multi-month range. As long as it holds above 1.1 tomorrow, the month-end close will be strong and should open up room for another squeeze higher. 1.115 is the next key area....
read more
Technical Pullback
There was a bit of technical weakness at key areas today; key areas that everyone is surely watching, which usually means one thing; the first trade is the wrong one. AUDUSD got about 10 pips above its 2019 low before reversing, EURUSD spiked above 1.1 but couldn't...
read more