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Thursday, May 23, 2024

European Markets Wrap-Up: EUR/USD bounces off key technical level on PMI data, sluggish dollar

EUR/USD bounces off key technical level on PMI data, sluggish dollar

EUR/USD daily chart The euro area PMI data was a bit mixed but at the balance, it was salvaged by the better German PMI figures. That continues to give the ECB a bit of breathing room after their impe... 

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Morgan Stanley the next to revise BOE rate cut call to August from June previously

From before: Barclays no longer sees the BOE cutting rates in June HSBC, Deutsche now expects BOE to only start cutting rates in August... 

USDCAD Technical Analysis – We are trading between two key levels

Fundamental Overview The USD has been generally under pressure since the benign US CPI report last week as the hawkish expectations subsided and the market switched its focus from inflation back to gr... 

Nvidia earnings boost the S&P 500. What's next?

Nvidia reported earnings yesterday after the close and not surprisingly it beat expectations across the board. We saw a rally in the S&P 500 futures as a result given the big weight of Nvidia on t... 

Eurozone Q1 wages come in hotter than the previous quarter

It looks like the spillover impact from the hotter wages from Germany is telling here. The Q1 negotiated wages data now reflects a growth of 4.7% year-on-year, which is higher than that in Q4 last yea... 

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FX option expiries for 23 May 10am New York cut

There aren't any major expiries to take note of for the day. As such, trading sentiment will be a bit of a mix of things in the day ahead. For one, we have PMI data to deal with alongside the US weekl... 

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