The pound is sent into the ground during thin Asian trade
The combination of the UK’s mini-budget and general flight to the US dollar has sent the pound broadly lower and GBP/USD to a new record low.
Implied volatility spikes, BOJ gets active ahead of FOMC
Rising yields ahead of the FOMC meeting has seen the BOJ announce bond purchases, and implied volatility has risen notably for the next 24-hours.
The SNB could surprise (again) with a larger than expected hike
The SNB (Swiss National Bank) are expected to hike interest rates tomorrow, which would send their rate above zero for the first time since 2011.
Commitment of traders report (COT): Bears pile into silver, GBP and JPY
Traders increased net-short exposure to metals (most notably silver), but also increased their bearish outlook on GBP and JPY futures.
USD/CNH closed above 7.000 for first time in 26-months
Despite attempts to stabilise the yuan, USD/CNH has reached 7.000 as policies between the Fed and PBOC continue to widen.
Gold wrap: Spot gold breaks key level (yet gold futures hesitate)
Spot gold prices crashed through the 2021 low and the backdrop assumes it could move lower still. Yet over the near-term we’ll watch gold futures for directional clues.
Kuroda is likely rolling his eyes as USD/JPY taps 145
Another strong inflation report for the US prompted a sharp reversal across global markets overnight - in favour of the US dollar and yields, but to the detriment of commodities and indices.
2 Trades to watch for today’s US inflation report: EUR, Gold
Today's US inflation report is a key event this week for traders, who are placing bets that it will soften ahead of the report to send equities higher and the US dollar lower.
European Open: GBP/JPY taps 166 ahead of UK data dump
The yen was the weakest currency overnight during a mild risk-on session, allowing GBP/JPY to tap 166 ahead of today’s UK data dump at 07:00 BST.
USD/JPY knocked from its perch as Kuroda jawbones the yen
Yen pairs were given a jolt ahead of the European open after BOJ Governor Kuroda made a few comments on currency movements.
USD/JPY taps 144, Oil breaks lower, BOC in focus
It’s been a relatively lively session for traders overnight which saw USD/JPY steam ahead above 144 and WTI hit a new cycle low. Next up we have the BOC meeting.