The ingredients for more rangebound trading are all there – ING
Source Fxstreet
US markets re-open today after an uneventful Monday for global markets. Economists at ING markets’ outlook.
Markets unimpressed with China's rate cut
The US calendar is unlikely to be a big driver today. China is once again the focus as banks reduced their five-year loan prime rates by a record 25 bps to 3.95% overnight, the first move of this kind since June. This kind of monetary easing has a generally higher impact on the property market, but once again markets have shown little enthusiasm.
We favour a strong Dollar in the near term as US data remains supportive, but this looks increasingly to be the perfect recipe for range-bound trading.
In DXY terms, 104.00/105.00 may hold as a range in the short run.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
As of the Asian session on July 14, gold ( XAUUSD) prices consolidated around the $4,000 mark, briefly slipping below $4,000 intraday to hit a low of $3,983.23. Looking at the market acti
WTI spikes amid escalating Middle East TensionsWest Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $79.60 per barrel during the Asian hours on Tuesday. Crude oil prices rise due to mounting supply anxieties following a sharp escalation of geopolitical hostilities in the Middle East.
West Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $79.60 per barrel during the Asian hours on Tuesday. Crude oil prices rise due to mounting supply anxieties following a sharp escalation of geopolitical hostilities in the Middle East.
US June CPI Preview: Can Cooling Inflation Open Up Fed Rate Cut Expectations? How Will US Stocks, the Dollar, and Gold React?The United States will release June Consumer Price Index (CPI) data this Tuesday, which is one of the most critical macroeconomic events in global financial markets this week. As US infla
The United States will release June Consumer Price Index (CPI) data this Tuesday, which is one of the most critical macroeconomic events in global financial markets this week. As US infla
As of the early Asian trading session on July 13, WTI crude oil ( USOIL) prices surged. Affected by the escalation of the US-Iran conflict over the weekend, the market has re-incorporated
Gold (XAU/USD) opens with a modest bearish gap at the start of a new week and slides back closer to the $4,050 level during the Asian session.
Related Instrument
