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Markets Yesterday’s risk correction on Wall Street didn’t spill to European dealings with key indices adding up to 0.5%. January EMU retail sales barely grew (0.1% M/M vs 0.2% consensus), but obviously didn’t impact trading ahead of tomorrow’s ECB gathering. Employment indices in US manufacturing ISM last Friday (45.9 from 47.1) and non-manufacturing ISM yesterday […]

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15/05/2024

Matured Altcoins Losing Strength

Market Picture Neither the meme mania in equities, the overall positivity in stock indices, nor the weakening dollar seems to be helping cryptocurrencies right now. Crypto market capitalisation is down 0.1% and has been moving around the current $2.29 trillion level for the past seven days. Bitcoin is trading near $61.9K, forming a sequence of […]
06/09/2024

Finally, It Is NFP Time

In focus today The most important data release of the week and a pivotal reading ahead of the September rate decisions will be the US August Jobs Report, due for release 14.30 CET today. We expect nonfarm payrolls growth to rebound to +170k after a weaker reading in July (+114k), unemployment rate to remain steady […]
11/03/2024

Gold Hits Record as Net Long Positions Jump

The US economy added 275K new nonfarm jobs last month, significantly more than around 200K new job additions penciled in by analysts. But happily, the unemployment rate unexpectedly rose to 3.9% and wages grew slower than expected on a yearly basis and were almost flat on a monthly basis. The fact that another strong NFP […]