Today's economic calendar is light, with only US building permits and housing starts scheduled for release.
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Today's economic calendar is light, with only US building permits and housing starts scheduled for release.
UK jobs data released today showed a surprise increase in wages, which boosted the odds of another 25 basis point rate hike by the Bank of England (BoE) to 90%.
This week is relatively quiet on news this week, with the major headline being the FOMC minutes being released on Wednesday.
The US Dollar (DXY) fell sharply on Wednesday after the release of weak US labour market data.
Emotions are a powerful force that can have a significant impact on our decision-making. In trading, this can be especially dangerous, as emotions lead to rash decisions that can cost us money.
The main highlight of today's session will be the Jackson Hole Symposium and the speeches for both Fed Chair Powell, and ECB President Lagarde.
The US Dollar and Treasury yields fell on Thursday after the release of weaker-than-expected US S&P Global Flash PMI data.
The markets are in a risk-off mood on Wednesday as concerns about the economic outlook mount. The euro and pound sterling find themselves under pressure, while the dollar is strengthening. Treasury yields are also pulling back after hitting a new cycle high.
Market sentiment put in a decent bounce on Monday, with the Nasdaq futures continuing to grind higher (+0.40% at the time of writing). This is surprising given that US 10-year Treasury yields hit a new cycle high yesterday, and higher yields have been a key driver of recent negative risk sentiment.
The economic calendar is light today, with only US jobless claims and the Philadelphia Fed business index data scheduled for realase. However, even these minor data releases could have a big impact on the markets, given the current volatility.
Today's economic calendar is light, with only US building permits and housing starts scheduled for release.
UK jobs data released today showed a surprise increase in wages, which boosted the odds of another 25 basis point rate hike by the Bank of England (BoE) to 90%.
The US dollar (DXY) managed to hold onto key support at 102 despite lower-than-expected year-over-year (YoY) CPI dat
WTI oil prices hit fresh YTD highs on Wednesday, despite a higher-than-expected inventory draw.
GBPUSD continued to drop on Thursday following yesterday's beat in US ADP data. The overall strength of the USD, as well as expectations that the BoE will hike rates by 25bps today, weighed on Sterling.
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