Category: Analysis

European Session Recap European markets began the day on the back foot as market participants digested a proposed tax-cut bill that threatened to enlarge the US deficit. Opposition to President Trump’s tax plans and the growing deficit is impacting the bond market, with Treasury prices dropping on Wednesday and dragging down other U.S. assets. The…

WTI Crude Oil pulls below 64.00 on supply increase prospects. Technical risk tilted to the downside; support at 60.50 tested. WTI crude oil futures were rejected near the 64.00 psychological level on Wednesday and moved lower, as reports of a significant upcoming output hike by OPEC outweighed concerns about a potential Israeli strike on Iranian…

Flash Eurozone business activity moved into contractionary territory due to a sharp dip in the services sector. The Euro-region manufacturing PMI rose to 49.4, the highest reading since August 2022, but still in contractionary territory as it is below 50. The index shows that the sector has been gaining momentum since last December, which can…

As shown on the BTC/USD chart, the Bitcoin price has broken above the $110K mark, setting a new all-time high around $111,800. This move highlights the strength of the leading cryptocurrency, which has surged nearly 50% in just over one and a half months, rising from a low near $75K recorded in early April. What’s…

The GBP/USD pair continues its upward trajectory, reaching 1.3429 by Thursday. It is now trading just below yesterday’s peak, its highest level since February 2022. Key drivers behind GBP/USD’s rise The rally follows the release of stronger-than-expected UK inflation data. The annual Consumer Price Index (CPI) accelerated to 3.5% in April, the highest reading since…

Market Picture Market capitalisation topped $3.5 trillion on Thursday morning, later retreating slightly below that round level. Interestingly, Bitcoin’s all-time highs have yet to spark FOMO. The historical highs of the first cryptocurrency keep the market positive, but the growth rate of altcoins is still commensurate with the dynamics of BTC. The sentiment index at…

Markets Yesterday’s US 20-yr $16bn bond sale was a rough one. The auction tailed 1.2 bps vs the 5.035% WI yield with lower-than-average demand. US yields ripped higher, extending earlier gains. Net daily changes varied between +4.8 bps in the 2-yr to 12.9 bps for the 20-yr. The US 30-yr yield added 12.3 bps to…

It’s Thursday, and so far this week, US debt concerns have overshadowed Middle East optimism, trade tensions, and even a fresh all-time high for Bitcoin. The turning point was last Friday’s credit outlook downgrade by Moody’s, which was quickly followed by a political debate around tax cuts—targeting social spending that supports the poorest, to give…

In focus today Today’s focus turns to euro area PMI data for May. Recent manufacturing data has exceeded expectations, showing minimal trade uncertainty. May’s figures might reveal if recent growth was driven by front-loading exports to the US, potentially weakening manufacturing PMI. Meanwhile, services sector growth declined, with April’s index at 50.1, a concern as…

Brent crude oil: ⬇️ Sell Brent crude oil reversed from key resistance level 66.00 Likely to fall to support level 62.00 Brent crude oil recently reversed down from the key resistance level 66.00, which has been reversing the price from the start of April, as can be seen from the daily Brent crude oil chart…