Last week we saw the US inflation report come in higher than expected. YoY dropped to 3.1% but it fell less than markets expected. The led the DXY Index to new 3-month highs and push lower yielding currencies like Yen to new lows.
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Last week was a quiet one as lack of further data coupled with the expectations of early rate cuts from the Fed diminishing. The Fed is currently holding rates with a March cut priced at 20% compared to 65% at the beginning of 2024.
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Last week the US Dollar claimed the title of strongest currency of the week as the markets priced in rate cut rationale began to dissipate. This was also coupled with a strong risk on week as equities continued their stella run.
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Last week the US Dollar gained slightly as we saw stiff resistance being met but the overall trend remains in place. Economic data was mixed including a stronger GDP number but softer CPE. The DXY gained a marginal 0.2% during the week.
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Last week we saw a reversal of the previous week in Yields. Equities continue to remain strong as S&P reached new all-time highs, but bonds sold off.
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So, with the first full week of 2024 we saw a similar theme. Yields continued to slide, and equities were strong. US Data continued to beat expectations but overall, the week for FX ended reasonably unchanged…
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Last week we expected US Yields to be the focus but, in the end, it was commodities. With Friday also being US Payrolls the beat that we saw Yields creep, but commodities sold off. The Dollar finally had a positive week. The DXY gained 0.8% to close just below 104 as US economic data came in better than expected.
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Last week continued the theme as Yields broke lower and Bond buying picked up pace. Dollar selling was the currency trade of the week.
The post Yields Move Lower first appeared on trademakers.
Last week was quieter than normal on the economic data side. The main focus remained Yields and the US Dollar. The Dollar was slightly lower on the week with the DXY down…
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Last week we had a slew of data from the US. We saw the CPI data print lower than expected which although was only a slight miss the market took a large reaction to. The market is no longer pricing in any further rate rises in the US and cuts are now more expected in 2024.
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Last week we saw a continued pattern of the previous week. Risk assets pushed higher with yields moving lower. The Dollar reversed some of the previous week losses. The FED hawkish statement supported the greenback and the DXY closed the week 0.7% better just below 106.
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Last week despite the overshadow of the continuing war in Israel the market mood was lifted as Central Banks pushed the pause button and inflation continued to fall.
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Last week we continued to see the familiar patterns of risk aversion. Rising tensions in the middle east weighed heavy on the markets and the fear of further escalation put the markets in a cautious mood.
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Last week yields continued to be the center of attention as they broke out and made new higher highs. This continued rise will have a negative effect on risk especially as we move into central bank decision times.
The post Yields Remain in Focus first appeared on trademakers.
Last week we continued to see yields as the main driver for the markets. We had US CPI which was higher than expected but although yields failed to push higher, they still remain at elevated levels. Risk off continued as the sad events in Israel and the Gaza strip brought uncertainty to the markets as fear about escalation increase.
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Last week was the first in a new quarter, but a similar pattern emerged. Yields continued to dominate and rise as payrolls had an upside surprise at the end of the week.
The post Yields Continue to Rise first appeared on trademakers.
Last week we were lighter on Economic data but as previously highlighted the yield moved higher and risk assets moved lower. The Dollar continued its move higher. It has moved higher for around 10 weeks now and…
The post End of Q3 first appeared on trademakers.
Last week we had a busy week with Central banks. Decisions from the Fed, BoE and SNB kept the markets busy looking at the forward guidance…
The post After the Storm first appeared on trademakers.
Last week we saw The European Central Bank (ECB) raise rates by 25bps and US CPI numbers. As we saw US inflation continues to remain at elevated levels and higher for the longer has once again been brought back into focus. The USD still maintained its move higher with the DXY gaining around 0.2%.
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