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S&P 500 pushed twice for ATHs, but thanks to semis weakness, much defensive sectoral positioning kicked in that not even XLF could overcome. Weaker incoming services PMI forced a modest increase in rate cut odds, sending USD lower, to its first logical support. The extensive Sat video dives into

NZD/USD advances on Friday, holding above the key 0.5700 level. The pair maintains its uptrend, supported by bullish technical indicators. Focus remains on whether momentum can push the pair toward the next resistance level at 0.5750. The NZD/USD pair continued its upward trajectory on Friday, risin

In other markets, China's fourth quarter 2024 GDP surged to 5.4% year-on-year, up from 4.6% YoY and marking the highest level of the year, and the fastest YoY growth of any quarter since 2Q23, ING's FX analyst Francesco Pesole notes. Fourth quarter growth level is a significant beat"This was also a

EU mid-market update: Risk appetite surges while market is laser-focused on Trump transition on Monday; Cool UK retail sales joins recent inflation reading to reinforce case for more BOE rate cuts in 2025. Notes/observations - European markets start the day on a positive note with DAX and FTSE100 hi

Momentum indicators are turning flat, suggesting further range trading, probably in a range of 7.3380/7.3580. Upward momentum is beginning to fade; a breach of 7.3250 would suggest that 7.3700 is not coming into view, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. Momentum indicators ar

Copper moved higher yesterday following a report the incoming Trump administration will slowly increase trade tariffs rather than impose sizable duties in one go, which weighed on the dollar. According to the report, the plan would boost import duties 2-5% a month on trade partners, ING's commodity