Dewar

The markets got exactly what had been expected, a 25 bp rate cut, but was not prepared for some of the details. Among those was the new guy wanting 50 bp but the two who had argued for that earlier did not join him. This may well be shunning a political sycophant and speaks volumes about interferenc

The Pound Sterling drops against its major currency peers after weak UK GDP and factory data for July.UK GDP growth remained stagnant in August, as expected.US weekly Initial Jobless Claims ending September 5 came in significantly higher at 263K. The Pound Sterling (GBP) faces selling pressure again

On a fundamental level in todays’ report we are to have a look at the recent IEA report, OPEC+’s meeting over the week, the pressure on the EU to impose tariffs on China and India and end the report with the state of the US oil market. The report is to be concluded with a technical analysis of WTI’s

Pullback in Euro (EUR) has scope to test 1.1690 before stabilisation is likely; major support at 1.1650 is not expected to come under threat. In the longer run, EUR could rise but any advance is likely part of a higher range of 1.1650/1.1790, UOB Group's FX analysts Quek Ser Leang and Peter Chia not

Instead of continuing to decline, Australian Dollar (AUD) is more likely to trade in a range of 0.6480/0.6540. In the longer run, AUD is expected to trade in a range, most likely between 0.6460 and 0.6560, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. AUD is expected to trade in a rang

Markets Chinese stocks on fire: China A-shares (onshore market) have rallied strongly over the past month being up more than 10%. Foreign focus has suddenly shifted from whether China was investable to concerns over a new bubble on the mainland. H-share stocks on the other hand have traded more or l

Weekly thoughts After a (well deserved?) break last week, we’re back with another weekly update. In the northern hemisphere it’s the end of the summer. Many traders use this time of year for a bit of R&R by stopping or cutting back on their trading BUT it’s September now - and it’s time to get s

EURAUD is in a nice bearish structure, continuing to push the price lower. We have been tracking this complex correction since the start of May, which has now stretched for nearly three months. But today the pair is aggressively attacking the bearish confirmation level at 1.78349. And with impulsive

There is a chance for Pound Sterling (GBP) to test 1.3545; the major resistance at 1.3575 is unlikely to come into view. In the longer run, GBP is likely to trade in a range between 1.3395 and 1.3575, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. GBP is likely to trade in a range betwe

General trend - Little market reaction to lots of Japan data today. Tokyo CPI figures for August were all inline with estimates, while July Industrial Production figures were slightly weaker than expected while July Retail Sales stronger than expected. Later on Japan Consumer Confidence came in high

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I previously wrote that given the dovish Jackson Hole surprise, the markets could rally briefly and then the decline could start / continue. “If Powell is more dovish – emphasizing the need to stimulate growth etc. – we might get very short-term rally in gold (and a decline in the USD) that would be

The US Dollar (USD) is strengthening broadly and meaningfully against all of the G10 currencies as we head into Wednesday’s NA session, making notable gains and hitting fresh local highs against key currencies—most importantly the EUR. Political uncertainty in Europe appears to be broadening as the