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Chicago wheat futures (WHEAT) are up more than 3% today as investors price in a more persistent reduction in supply amid the ongoing war between Ukraine and Russia, with both sides targeting exports and disrupting key logistics routes. WHEAT chart (D1 interval) Over the past several sessions, selling pressure in wheat was visible across all […]
Todayโs economic calendar is very light, with investors shifting their attention toward the second half of the week. The key release will be Fridayโs U.S. CPI inflation report for August. German imports and exports unexpectedly declined, but EURUSD is holding up relatively well and has managed to move back above its 200-day exponential moving average […]
INGโs Frantisek Taborsky highlights that Hungarian inflation rebounded to 1.3% in August but stayed below expectations and the NBHโs forecast, with price growth seen remaining under target this year. Markets are focused on a potential pause in rate cuts and a lower inflation target ahead of Euro adoption, while EUR/HUF could move back above 364 […]
Danske Bank notes European equities were broadly flat on Monday, with the Stoxx 600 unchanged and OMX Nordic slightly higher, while Asian markets rallied in thin trading as US markets were closed for Labor Day. The bank highlights strong performance in technology, particularly semi-conductors and AI-linked hardware, while rising bond yields weighed on real estate […]
OCBCโs Christopher Wong notes EUR/USD is holding near 1.16 as a softer US Dollar (USD) and firmer Euro-area data offset higher Oil prices. Strong expectations for a 25bp European Central Bank (ECB) hike and improving Euro-area sentiment are seen limiting Euro downside in the near term, though elevated Oil and political uncertainty in Germany keep […]
MUFGโs Michael Wan notes the Japanese Yen has strengthened below 154 against the US Dollar (USD), its firmest level since February, as markets price faster Bank of Japan tightening. A 25 bps hike at the 18 September Bank of Japan (BoJ) meeting is seen largely priced, with focus shifting to future rate guidance. Wan projects […]
USDJPY and OIL charts, D1 interval The pair recently plunged below its 200-day EMA (red line), moving into a downtrend. Following yesterdayโs decline, we are seeing another downward impulse of a similar magnitude today. However, the candleโs long lower wick suggests that USDJPY may have reacted to support in the 152โ153 area, where price action […]
Copper prices have soared to record highs, breaking through the US$14,530 per tonne barrier on the London Metal Exchange (LME). Despite disappointing data from China โ which traditionally drives demand for industrial metals โ the market is experiencing an unprecedented short squeeze and a supply panic. Against the backdrop of a global scramble for physical […]
Secretary of Iran’s Supreme National Security Council, Mohsen Rezaei, warned on Tuesday that Tehran would respond to what it calls US “economic warfare” by imposing a maritime exclusion zone across the Persian Gulf. “Economic warfare will be met by a maritime exclusion zone across the Persian Gulf to the blockade perimeter,” said Rezaei, adding the […]
John Healeyโs first speech as Chancellor has had a minimal effect on UK Gilt markets. The 2-year yield is up less than 2 basis points this morning, and the 10-year Gilt yield is up by 1bp, in line with the movement in yields elsewhere. Sterling is also up a notch, but overall, the new Chancellor […]
