Author: FX

MSCI has proposed excluding Bitcoin (BTC) treasury firms Strategy and Metaplanet from its Global Investable Market Indexes (GIMI) under a new eligibility framework targeting firms it classifies as non-operating companies, according to a consultation document.Strategy, Metaplanet among firms facing possible removal from MSCI indexThe proposal would introduce additional quantitative screens to identify corporate issuers whose business operations are closer to investment vehicles than to traditional operating companies.Strategy and Metaplanet are among three current constituents of the MSCI ACWI Investable Market Index (ACWI IMI) that would be excluded if the proposal is approved. The third company identified for potential exclusion is…

US stocks finished mostly lower on Friday, taking some of the shine off a week that saw both the S&P 500 and Russell 2000 trade at record levels. The exception today was the small-cap Russell 2000, which bucked the broader weakness and closed at a new record high.The S&P 500 reached a fresh all-time high during the week and closed at a record on Thursday, but buyers could not keep the momentum going into the weekend. Friday’s softer retail sales and consumer sentiment data contributed to a more cautious tone, while higher oil prices and geopolitical concerns also weighed on…

Societe Generale analysts highlight CNY’s firm trend, with the currency advancing to 6.7424, its strongest level since February 2023, on Dollar weakness and lower US yields. The PBoC reiterates an accommodative stance and targeted support while avoiding explicit rate or RRR cut signals, as 10-year CGB yields fall below 1.70%.Policy support underpins currency strength”CNY maintains steady appreciation path: The CNY advanced to 6.7424 today, its strongest level since February 2023, supported by broad-based dollar weakness and lower US yields.””In its latest quarterly monetary policy implementation report, the PBoC reiterated its commitment to maintaining an appropriately accommodative policy stance and deploying…

Trump: Pretty soon will be declaring Strait of Hormuz territory of the US !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link

The US Dollar Index (DXY) extended its slide on Friday, holding below 100.00 at fresh lows after a fourth straight soft US data print. The preliminary Michigan Consumer Sentiment survey fell to 51 in August from 55.2, well short of forecasts, capping a week that also brought cooler inflation and a weak Retail Sales report. As a result, bets on a September Federal Reserve (Fed) rate hike have faded further. The coming week hands the Dollar no top-tier data of its own. Instead, Wednesday’s Federal Open Market Committee (FOMC) Minutes from the July meeting take center stage, offering the detail…

Commerzbank notes that the Kospi has rebounded 29.5% from its 30 July low, supported by strong tech earnings and improved sentiment toward semiconductor and memory chipmakers. They note USD/KRW has retreated nearly 8.9% from its July high as exporters’ repatriation and foreign portfolio inflows bolster the Korean Won. Despite a modest 0.3% rise to 1,421 on a stronger Dollar, KRW is the second-strongest Asian currency this year, up 1.5% versus USD and outperforming the regional ex-Japan average of -2.1%. Further volatility moderation in equities may offer near-term KRW support.USD/KRW retreats from July peak”The South Korean equity benchmark Kospi rose 3.6%…

The EUR/USD pair registers gains of over 0.32% on Friday as traders face key resistance at the 100-day Simple Moving Average (SMA) at 1.1567, as bulls eye the 1.1600 psychological figure. At the time of writing, the pair trades at 1.1564 after bouncing off daily lows of 1.1526.EUR/USD Price Forecast: Technical OutlookThe EUR/USD market structure suggests that the downtrend remains intact. The successive lower highs and lower lows have been respected, but since July 30, when the pair reclaimed the 1.1500 area, the risk of a bullish reversal has increased.Although the pair topped around 1.1550-60, the Relative Strength Index (RSI)…

Ethereum price today: $1,880Ethereum Net Taker Volume shows a mild dominance in short positioning over the past two weeks.Open interest declined earlier in the week despite positive funding rates.ETH’s technical setup suggests a consolidating market, with price trapped in a tight band between EMAs’ support and resistance.​Ethereum (ETH) derivatives interest has been ranging sideways over the past week after a mild flip in seller dominance.Derivatives sentiment stays weak as capital remains on sidelinesThe Net Taker Volume, which measures the difference between buying and selling volume of market orders in ETH perpetual contracts, moved slightly into negative territory since the beginning…

EURUSD backs off from the 50% midpoint target at 1.1585. What next? !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link

Gold price registers solid gains of nearly 0.90% on Friday as the US Dollar weakens across the board, following a week that featured softer inflation data, which decreased the chances for a rate hike by the Federal Reserve (Fed). The XAU/USD trades at $4,386, still below the $4,400 threshold.XAU/USD gains as weak US data curbs September Fed hike betsThe US Dollar Index (DXY), which tracks the value of the American currency against six other currencies, is down 0.4% to 99.57, as investors trimmed Fed-hawkish bets ahead of the September meeting.US inflation data on the producer and consumer side eased in…