Sam Altman’s eye-scanning ID project launches in U.S. with six locations Read More »
Yum Brands CEO says company is ‘pretty insulated’ from tariff woes Read More »
London markets will be open for trading though but the other major hubs in Europe are all closed in observance of Labor Day. As such, there will be lighter flows in general but that won’t stop an already busy-looking market to start the new month. The dollar is keeping steadier across the board, keeping with overnight gains. But was it all just month-end?
That comes after a dismal Q1 advance GDP report, owing largely to trade, one which Trump is shifting the blame away from. Equities also staged a neat comeback yesterday, before US futures are seen advancing today after earnings beat from Meta and Microsoft. Tech shares are leading the charge with S&P 500 futures up 0.9% and Nasdaq futures up 1.4% on the day.
Earlier, the BOJ left interest rates unchanged as expected but the yen is down on some minor disappointment. Ueda’s press conference will be up next at 0630 GMT.
Besides that, there’s not much else on the agenda in European trading besides the UK mortgage/credit conditions report for March at 0830 GMT.
This article was written by Justin Low at www.forexlive.com.
Labor Day holiday to keep things quiet in Europe Read More »
BoJ kept its benchmark interest rate unchanged at 0.50% today, by unanimous vote, in line with expectations. However, it struck a cautious tone on the economic outlook by sharply cutting its growth forecasts. The central bank now projects Japan’s real GDP to grow just 0.5% in fiscal 2025, down from the 1.1% forecast in January, […]
The post BoJ holds rates, slashes growth outlook on trade headwinds appeared first on Action Forex.
BoJ holds rates, slashes growth outlook on trade headwinds Read More »
GBPUSD: ⬇️ Sell GBPUSD reversed from the long-term resistance level 1.3430 Likely to fall to support level 1.3200 GBPUSD currency pair recently reversed down from the long-term resistance level 1.3430 (previous yearly high from last year) standing close to the upper daily and weekly Bollinger Bands. The price also earlier reversed down from the resistance […]
The post GBPUSD Wave Analysis appeared first on Action Forex.
GBPUSD Wave Analysis Read More »
Markets Markets faced a difficult task today, navigating through a busy eco calendar. In the end, Q1 US GDP data triggered a temporary bear steepening of the US yield curve pushing yields in a first reaction 1 bp (2-yr) to 10 bps (30-yr) higher. EUR/USD was unnerved while US equity futures suffered the bigger (stagflation) […]
The post Sunset Market Commentary appeared first on Action Forex.
Sunset Market Commentary Read More »
GBPUSD: ⬇️ Sell GBPUSD reversed from the long-term resistance level 1.3430 Likely to fall to support level 1.3200 GBPUSD currency pair recently reversed down from the long-term resistance level 1.3430 (previous yearly high from last year) standing close to the upper daily and weekly Bollinger Bands. The price also earlier reversed down from the resistance […]
The post GBPUSD Wave Analysis appeared first on Action Forex.
GBPUSD Wave Analysis Read More »
Summary The U.S. economy is at a greater risk of recession now than it was a month ago, but this 0.3% contraction in Q1 GDP is not the start of one. It reflects instead the sudden change in trade policy that culminated in the biggest drag from net exports in data going back more than […]
The post GDP Contracts as Import Surge Brings Record Drag from Trade appeared first on Action Forex.
GDP Contracts as Import Surge Brings Record Drag from Trade Read More »
