FX

UK Services PMI ticks down to 52.8 in September, beats estimates. Manufacturing PMI in the UK declines to 51.5 in September. GBP/USD sticks to losses near 1.3250 after downbeat UK business PMIs. The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) eased from 52.5 in August to 51.5 in September. The market forecast

The NZD/USD upside seems to be limited as buying and selling forces struggle for dominance. The RSI suggests a neutral outlook, while the MACD indicates declining selling pressure. A crossover between the 100 and 200-day SMA might propel the pair upwards. The NZD/USD traded mostly flat on Friday’s session and failed to hold gain which

US Dollar is gaining strength after Fed decision volatility. New York Fed’s Nowcast model predicts robust economic growth in third and fourth quarters. Fed expects financial conditions to remain loose, supporting the economy. The US economy is experiencing a moderate slowdown, but indicators suggest that economic activity remains robust overall. The Federal Reserve (Fed) has

Gold surges to new all-time high above $2,600, fueled by expectations of further Fed rate cuts. Safe-haven demand spikes due to escalating tension between Israel and Hezbollah. Fed Governor Waller backs 50 bps rate cut; however, dissenting Fed member Michelle Bowman prefers a smaller cut to guard against declaring an early win on inflation. Gold

Federal Reserve (Fed) Board of Governors member Michelle Bowman clarified on Friday why the policymaker voted against the Fed’s 50 bps jumbo rate cut this week. Fed Governor Waller goes down in the books as the first Fed Governor to vote against both the consensus and the Fed Chair since 2005. Key highlights I agreed it was appropriate

Mexican Peso continues to weaken, recording losses for three consecutive days amid increasing risk aversion. Fed Governor Waller supports the recent 50 bps rate cut, pointing to easing inflation and hinting at further cuts if labor conditions deteriorate. Banxico anticipated to lower rates by 25 bps next week, potentially sustaining an appealing interest rate differential

Speaking at the post-policy meeting press conference on Friday, Bank of Japan (BoJ) Governor Kazuo Ueda said that the Bank “will analyze the impact of whether Yen’s strengthening since August will impact prices by the same degree as previous Yen weakness had on prices.” The BoJ left the benchmark interest rate at 0.15%-0.25% following its September policy meeting.

Mexican Peso softens after Fed’s 50 bps rate cut. Fed projects federal funds rate at 4.4% for 2024, balancing price stability and employment goals. Investors await Banxico’s upcoming decision with a 0.25% rate cut expected on September 26. The Mexican Peso softens slightly against the US Dollar during the North American session on Thursday after

The Bank of England is set to hold its interest rate at 5.0% on Thursday. United Kingdom’s annual inflation was stable at 2.2% in August. BoE policy announcements are likely to rock the Pound Sterling. After a close call in August, the Bank of England’s (BoE) September interest rate decision is keenly awaited for fresh

EUR/USD climbed on reaction to first Fed rate cut since March of 2020. Fed delivers a surprise 50 bps rate cut out of the gate. Fed dot plot eases lower in September, unemployment forecast ticks slightly higher. EUR/USD soared into a fresh high for September after the Federal Reserve (Fed) surprised markets with a full 50 bps

NIFTY 50 (INDIA) Elliott Wave Analysis – Daily Chart. NIFTY 50 (INDIA) Elliott Wave technical analysis Function: Trend. Mode: Impulsive. Structure: Orange Wave 1. Position: Navy Blue Wave 3. Direction next lower degrees: Orange Wave 2. Details: Navy Blue Wave 2 appears complete, with Orange Wave 1 of Navy Blue Wave 3 now in play. Wave cancel invalidation

The Dow Jones clipped into yet another record bid on Tuesday. Investors are tilting into the risk-on side ahead of expected Fed rate cut. Markets are split on the depth of anticipated first Fed rate cut in over four years. The Dow Jones Industrial Average (DJIA) rose into a fresh record high for the second

The Japanese Yen moves sideways from the ongoing hawkish sentiment surrounding the Bank of Japan interest rates outlook. Japan’s Shunichi Suzuki stated that the government will continue to evaluate the stronger JPY and respond as necessary. CME FedWatch Tool suggests odds of a 50 basis points Fed interest rate cut have surged to 62.0%. The

The Dow Jones cracked a fresh all-time high during Monday trading. Despite the upside stretch, equities remain tepid overall. Investors are buckling down for the wait to Wednesday’s Fed rate call. The Dow Jones Industrial Average (DJIA) clipped into another record intraday bid to kick off the new trading week. The largest equities on the

FX option expiries for September 16 NY cut at 10:00 Eastern Time, via DTCC, can be found below. EUR/USD: EUR amounts 1.1000 1.2b 1.1005 450m 1.1025 1.0b 1.1035 756m 1.1050 518m 1.1080 536m 1.1100 440m 1.1115 674m 1.1125 835m 1.1145 2.4b 1.1150 1.3b 1.1175 546m USD/JPY: USD amounts                      140.00 442m 141.50 569m GBP/USD: GBP amounts 1.3000 1.6b 1.3145 828m 1.3175 454m 1.3200 1.5b 1.3300 974m USD/CAD:

The Dow Jones is grinding its way back into record bids on Friday. US markets are leaning firmly into bets of a 50 bps cut from the Fed. Mixed US sentiment figures keep investor sentiment on the high side. The Dow Jones Industrial Average rallied for a third straight day on Friday, climbing around 350

EUR/USD may have reached too far, too fast in midweek recovery. ECB rate cut bump proved fleeting as markets pivot to focus on Fed. Investors are jostling for position as rate market weigh odds of a 50 bps Fed cut. EUR/USD kicked back into the 1.1100 handle on Friday, before market forces weighed on the

The NZD/JPY pair has been in a downtrend, declining in four of the last six sessions. The RSI is oversold and has a declining slope, indicating that selling pressure is increasing. The MACD is also negative and the histogram is rising. Friday’s session saw the NZD/JPY pair decline by more than 1% to 86.60 marking another