There’s just one particularly significant one, as highlighted in bold.That is for USD/CAD with large expiries seen around 1.2650-70 worth over $5 billion in total. Now, the market mood is still the key driver of price action at the moment with the dollar holding in a good spot. That is overriding

European indices are holding mild gains so far on the day while US futures are mixed and not offering much. The Eurostoxx is up 0.1%, the DAX up 0.5%, and CAC 40 up 0.1%. Meanwhile, S&P 500 futures are down 0.1%, Nasdaq futures down 0.2%, and Dow futures up 0.1%.
The overall mood is tentative as inv

I think the headline is what stands out, as it relates to price pressures and inflation. The survey reveals that 3/4 of French industrial and construction firms see supply problems lasting for a year. That’s not quite a good outlook for how the ECB would like the inflation trajectory (or at least th

That’s a decent move in European morning trade, considering that there has been no notable headlines to really work with.
In my view, the light nudge higher here is more technical-related as price bounces off the 200-hour moving average:

Overall, the dollar is trading more mixed across the board

As high as 80% of
retail traders lose money trading forex & CFDs with ASIC & FCA
regulated CFD brokers, depending on the broker. This figure could be even
higher in other regions where the regulators don’t require brokers to display
the percentage losses on their website.

 

Several factors are

Prior +9.0%New yuan loans ¥3.98 trillion vs ¥3.69 trillion expectedPrior ¥1.13 trillionBroad money growth continues to keep higher as China is ensuring that the economy holding more stable despite deleveraging efforts and its focus shift towards ‚common prosperity‘. New yuan loans surged last month

European indices are pushing forward with gains of around 1.5% on the day while US futures are also gaining further ground on the session so far. S&P 500 futures are now up 0.7%, Nasdaq futures up 0.8%, and Dow futures up 0.6%.
All looks to be well in the equities space after quite a modest showing

I wrote last week about the opportunity in selling USD/RUB on the possibility of no war in Ukraine. The thinking is that RUB is deeply undervalued on war worries and isn’t close to reflecting the price of oil and gas.
With some positive murmurs from Putin and Macron, the market appears to

Stephen Jen,
a former economist at the International Monetary Fund and Morgan Stanley, came
up with a theory that explains how the USD behaves in different circumstances and
called it “The Dollar Smile Theory”.

 

The dollar
smile theory states that the USD tends to strengthen both when the US ec

The November 2019 high of 1.973% is the gatekeeper for 2% US Treasury yields. A slip through that level could set off stops through the figure. I expect a big challenge of that level around Thursday’s US CPI report but it could come sooner.
Today yields rose as high as 1.960% but we’ve seen