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Overnight implied volatility has risen sharply higher for yen pairs ahead of tomorrow’s Bank of Japan (BOJ) meeting. In fact, they now sit at their highest level since Brexit, which saw some yen pairs produce double-digit percentages moves (to the ...
The RBNZ hiked interest rates by 50bp to 3.5%. It’s the eighth consecutive hike this cycle totalling 325bp – and five of the last eight have been in 50bp increments. And if that’s not enough to wet your whistle, they also discussed a potential 75ph ...
The GBP/USD gained some ground as the dollar steadied after rallying sharply in response to Tuesday’s publication of above-forecast US inflation data. Today, we had some more inflation data from both sides of the Atlantic, with UK CPI falling back ...
Yield differentials pushed USD/JPY back up to 145, a move which likely has BOJ’s Kuroda rolling his eyes. We recently saw a concerted effort from the BOJ, MOF and government to jawbone the yen but with limited success. And part of that success could ...
It was another bearish session for crypto traders yesterday as the US dollar and yields continued higher whilst Wall Street and sentiment in general moved lower. And that has driven Bitcoin down to a key support, otherwise known as its YTD low on ...
It’s been a tough few months for gold bugs, with the yellow having fallen for four consecutive months - and less than two trading days from its fifth. But perhaps that is a sign that it is due some mean reversion, or for its pace of selling to at ...
Whilst it is the annual rate of change (yy) that central targets monitor, any healthy change in the annual rate should first occur at the monthly rate (mm). It is therefore worth noting that some metrics of inflation have either seen the monthly ...
Traders trimmed net-long exposure to the US dollar index (DXY) for a second consecutive week, and at the fastest weekly pace since December. Commitment of traders – as of Tuesday 5th July 2022: • Weekly volume changes among FX majors were relatively ...
Large speculators were their most bullish on the US dollar index since March 2017. • Traders flipped to net-short exposure to euro futures. • Traders flipped to net-long exposure to Canadian dollar futures. • Net-short exposure to Japanese yen ...
There are various degrees of risk-off, and markets have just entered one of the worst kinds. An example of a less severe form of risk off would be when equities tumble due to a slew of weak earnings, and currencies or bonds take little to no notice. ...
Being short AUD futures is by no means a new idea, as traders have been met-short the currency since May last year and at a record amount in October 2021 and January 2022. Whilst gross shorts remained effectively flat last week, gross longs ...
The ASX 200 closed above 7100 for its first time in eight sessions, and that it was seen on above average volume is encouraging for the bull-case. The December low of 7145 is a key level for bulls to conquer if this rebound is to have any legs. ...
BOC’s Senior Deputy Governor Carolyn Wilkins delivered which appears to be laying the groundwork for a potential cut. Whilst she tips her hat to an economy which is “relatively well overall”, she pointed to regional differences and reiterated ...
So far, USD is on track for a positive close in November, a month which has historically been favourable to bulls. Yet nothing moves in a straight line and it appears bears could now have their say. DXY: A bearish outside day has formed and price ...
The table could be turning for risk, with several JPY crosses looking like they’re finally topping out and due their anticipated corrections. With indices just off record highs and several markets pausing below key resistance (AUD/USD, EUR/JPY and ...
A stronger USD, prompted by the Trump probe, has seen metals under pressure with gold shedding over -1.8% by the close. Whilst prices have remained supported above 1,480 the potential for near-term weakness seems apparent, given yesterday’s 2-bar ...
With oil prices exploding higher yesterday, we take a look at how WTI has performed following similar spikes of volatility. By yesterday’s close, WTI futures enjoyed their 5th most bullish session according to Reuters data going back to December ...
Oil prices rallied gapped higher an astonishing 12% at market open, after around 5% of global oil supply was removed following a drone strike on a Saudi Arabian oil facility over the weekend. Oil stocks also surged and safe-haven demand for gold saw ...
Traders were net-long USD by $10.6 billion, down -$0.34 billion from the prior week to make a fresh 14-month low. Against G10 currencies, traders are net long by $13.68 billion, down -$0.82 from the prior week. Traders increased net-short exposure ...
The British pound rose on the back of optimistic comments from Angela Merkel, who hinted that a deal could still be reached before the October 31st deadline. This comes just after Emmanuel Macron said a hard Brexit would be Britain’s fault and that ...