US Energy Information Administration (EIA) released a weekly report on natural gas inventories today at 3:30 pm BST. Report was expected to show a 69 billion cubic feet increase in US stockpiles. However, actual report showed an even bigger build of 75 billion cubic feet. This is a second inventory build in a row and […]
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20
Apr
Apr
Technical Analysis DAX30
The German leading index is coming under increasing pressure. W1 chart The DAX future / DE30 is falling today, pulling back from the high for the year, which was reached yesterday at 16,056 points. The record high remains the key resistance – the gap is around 400 points. In case of further losses, the breakout level at […]
20
Apr
Apr
ECB Minutes: Majority Bankers in Favour 50 bps
Key takeaways from the latest ECB meeting: Basically, we do not see a reaction to the minutes. EURUSD reaches the 1.0980 zone and retreats from that level. There is basically nothing new in the Minutes. The earlier, stronger “hawkish claw” is missing. At the same time, it is simply a continuation of the earlier overtones. […]
20
Apr
Apr
Analysis Bitcoin
The largest cryptocurrency was unable to sustain the bullish momentum and failed to hold longer above $30,000 where stronger supply was once again triggered. The declines come as markets began to see a chance for more Fed rate hikes as Waller and Bullard of the Fed cooled recent optimism over the May pivot. Also, comments […]
19
Apr
Apr
Gold Returns to April Levels
Gold loses 1.5% amid rising expectations of a next Fed hike 🏛 Recent macro data releases from the US and statements from Fed bankers suggest that the Fed will raise interest rates at its May meeting. This is a significant turnaround from expectations a few weeks ago, when not even a 50% probability for a […]
19
Apr
Apr
BoJ unlikely to decide to change its curve control program
The BoJ, in a message to the market, indicates that it is unlikely to decide to change its curve control program, let alone exit, following the recent banking crisis. This means maintaining a very loose monetary policy in Japan and could work against the JPY in the near term. Moreover, there has been market pressure […]
19
Apr
Apr
Tesla Q1’23 Earnings Ahead
Tesla (TSLA.US) will release its Q1’2023’19 results today after the trading session, reporting on a quarter in which the company recorded a record number of deliveries. The market consensus is for Tesla’s revenue to reach $23.54 billion. This would represent year-over-year growth of approximately 24%. Market expectations in terms of EPS are for $0.87 per share. Tesla […]
19
Apr
Apr
Bitcoin Falls Below $30k
On Wednesday in morning trading hours Bitcoin and other cryptocurrencies plummeted below significant levels. Despite a strong decline in prices no fundamental information was released to the public. Drop occurred in 20 minutes and led to the liquidation of over $25 million worth of BTC futures long positions. BTC fell below $30k level and ETH […]
19
Apr
Apr
Chart of The Day EUR/GBP
The British pound is the best performing currency in the broad FX market at the moment. The EURGBP pair is trading close to 0.35% down today, triggered by a strong UK CPI reading. The UK’s March CPI inflation reading came in at 10.1% YoY against a forecast of 9.8% and the previous reading of 10.4%. […]
19
Apr
Apr
Higher Than Expected UK CPI Sees Gains in GBP/USD
UK CPI (M/M) Mar: 0.8% (est 0.5%; prev 1.1%) – UK CPI (Y/Y) Mar: 10.1% (est 9.8%; prev 10.4%) – UK CPI Core (M/M) Mar: 0.9% (est 0.6%; prev 1.2%) – UK CPI Core (Y/Y) Mar: 6.2% (est 6.0%; prev 6.2%) Details of today’s inflation report. High UK inflation is largely driven by food prices. […]