简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:The US Dollar starts the new week on a softer footing for now following a solid rally late last week which saw the Dollar Index breaking out to its highest levels in over a month. The move was driven in part by comments from various Fed members pushing back against the idea of rate cuts coming later this year.
The US Dollar starts the new week on a softer footing for now following a solid rally late last week which saw the Dollar Index breaking out to its highest levels in over a month. The move was driven in part by comments from various Fed members pushing back against the idea of rate cuts coming later this year. Additionally, US consumer inflation expectations on Friday were seen hitting 12-year highs. Consequently, the market view is shifting back towards expecting US rates to stay higher for longer. Traders now look to Yesterdays US Empire State Manufacturing Index which is expected to have contracted last month.
KEY FACTORS FOR MONDAY 15th MAY
• Better start to risk appetite as USD weakens following Friday rally
• US rate cut expectations fall back
• Bitcoin recovering sharply
MARKET MOVERS
• EURUSD bounces off $1.0840
• Bitcoin back above $27500
• FTSE back above £7775
• Gold rallying
ECONOMIC CALENDAR
• USD Empire State Manufacturing Index (1.30pm)
• GBP BOEs Pill Speaks (5pm)
• USD Feds Cook Speaks (10pm)
US PPI DROPS, JUNE RATE HIKE CHANCES FALL FURTHER
Stock markets were knocked a little lower on Friday as soaring US inflation expectation dented rate cut forecasts for later in the year. Uncertainty continues to grow too ahead of the US debt ceiling deadline. Talks are scheduled to continue this week with Biden citing optimism over the weekend that a deal can be done to avoid default. Equities indices are starting the week with a mildly bid tone. The Nasdaq is seen turning back towards highs after breaking out to fresh 2023 levels last week. The FTSE is turning higher too as the rebound off the 7697.7 level gathers momentum putting 7835 in sight as the next target for bulls.
Interestingly, crypto assets have seen strong demand at the start of the week. Bitcoin futures have bounced firmly off last weeks lows with BTC now trading around 7% higher. Industry data shows the stable-coin supply ration has fallen around 11% over the last week, showing that buy was increasing as price was falling, suggesting perhaps that bigger accounts are using the pullback to reload long positions, turning the near-term view bullish for now.
In FX, the better tone to risk appetite at the start of the week has seen the Aussie bouncing back. AUD had been hard hit recently amidst the downturn in risk assets. However, with equities seeing better demand across the European open on Monday, AUD has emerged as the best performer so far. By the same token, JPY has seen the weakest performance with better risk appetite fuelling weaker safe-haven demand for the Yen.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Proprietary trading firm The Funded Trader has detailed its financial recovery efforts following a turbulent period marked by an unsustainable payout model. Addressing these challenges publicly, the firm outlined the steps being taken to resolve outstanding obligations and ensure operational sustainability.
Doo Group has announced its acquisition of PT Prima Tangguharta Futures, a Jakarta-based broker specialising in online derivatives trading. This move represents a significant step in Doo Group's regional expansion strategy and reinforces its growing presence in Southeast Asia.
Webull partners with Coinbase Derivatives to offer crypto futures, providing US investors access to Bitcoin and Ethereum contracts with lower entry barriers.
eToro launches in New York, offering fractional stock, ETF, and options trading nationwide. Discover innovative features like copy trading and free education.