Scope Markets Blog | Latest Forex News And Updates For 2020

Equities drift lower, while hawkish BoJ spark JPY resurgence

European markets are on the back foot in early trade today, with traders appearing to finally question whether the recent rally and rate expectations have become overextended. November saw widespread optimism that the ‘higher-for-longer’ rhetoric from central banks would instead shift to ‘lower-and-sooner’, with the FOMC now expected to push a rapid 125-basis points worth […]

by Joshua Mahony
5 months ago

Weak German factory orders data drives DAX into record high, as markets take ‘bad news is good news’ approach

European markets have started the day on a positive footing this morning with a concerning German factory orders figure bringing yet another reminder over the ECB’s need to switch onto a more accommodative footing at the earliest opportunity. The ‘bad news is good news’ environment currently in place for European stocks has seen the DAX […]

by Joshua Mahony
5 months ago

US jobs report preview: Will it help or hinder rate cut hopes?

Table of Content Markets head into Friday’s US jobs report with optimism over how 2024 might play out, with the recent disinflation seen across the globe helping to bring anticipation for a potentially dramatic monetary policy reversal. Whether the Federal Reserve will be desperate to drive down rates to the degree that markets expect remains […]

by Joshua Mahony
5 months ago

ECB expected to slash rates in 2024, despite today’s improved PMI data

European markets are taking a more constructive view following an Asian session that saw sharp declines across China related stocks. A decision from Moody’s to cut the Chinese credit outlook raised concerns over the sustainability of the country’s fiscal pathway. While they opted to leave the long-term credit rating for Chinese sovereign bonds at A1, […]

by Joshua Mahony
5 months ago

4 Dec FX outlook – USD, EUR, GBP, CAD, AUD, NZD

Table of Content USD The US dollar’s situation did not improve this week, as further pressure was applied to the currency due to increased anticipation that the Federal Reserve could begin cutting interest rates as early as March 2024. Other assets took advantage of the dollar’s weakness, particularly the New Zealand dollar, which had benefited […]

by Joshua Mahony
5 months ago

Commodities dominate, with energy weakening as gold hits a fresh high

This morning has seen somewhat of a calm open to trade in Europe, after a headline grabbing Sunday evening which saw huge volatility in the commodity space. Gold grabbed the headlines after a sharp surge into record highs of $2,146, with markets similarly emboldened to funnel capital into other non-fiat assets such as silver, bitcoin […]

by Joshua Mahony
5 months ago