USD

Wednesday was a day of divergent policies that saw the Bank of Japan (BOJ) hike rates more than expected and the Fed signal a cut. And that saw the US dollar and yen broadly move their separate ways.

U.S. stocks point to a higher start as they recover from the weakness over the past few sessions, which saw the S&P 500 fall to a six-month low. An improved market mood and optimism of a soft landing helped lift stocks even as inflation was stickier than expected. Core PCE, the Fed's preferred gauge for inflation, remained at 2.6% YoY but personal spending remained solid at 0.2%,

U.S. stocks have halted the deep sell-off. Better-than-expected economic growth in the second quarter helped to ease fears that the Fed may need to rush rate cuts to prevent a recession. Personal spending, the key driver for the US economy, was stronger than expected, and PCE cooled. The modest move higher comes after the Nasdaq experienced its worst one-day selloff yesterday since 2022.

U.S. stocks are to open sharply lower after Tesla and Alphabet's earnings underwhelmed. Tesla's net income almost halved to $1.47bn vs. the $1.9 bn forecast. Alphabet beat on earnings and revenue, but YouTube ad revenue missed forecasts. The selloff in Alphabet highlights how high the bar has been set.

Large speculators surged into GBP/USD long bets last week, pushing net-long exposure to a record high and at the fastest weekly pace since records began. They also continued to trim net-short exposure to yen futures for a second week, after it nearly reached a record high of its own.

U.S. stocks point to a mixed open at the end of a choppy week for the markets. The sell-off in tech stocks and mega-cap growth stocks appears to have steadied after a week, which has seen investors rotate away from the sector. Netflix is set to open higher after beating Q2 earnings and revenue forecasts and impressive subscriber numbers. Q3 guidance disappointed.

U.S. stocks are pointing to a broadly positive start following upbeat forecasts from Taiwan Semiconductor Manufacturing, which helped lift chip stocks and mega caps following a sharp sell-off yesterday. Rotation out of tech, concerns over curbs on chips to China, and jitters ahead of earnings hit tech on Wednesday. Today, US jobless claims were higher than forecast, pointing to some softness in the jobs market. Netflix reports after the close.

U.S. stocks are set to rise modestly on the open as the Trump trade continues, and investors digest comments from Fed Powell, including the latest US retail sales and earnings. Retail sales ex-autos rose 0.4%, reversing a trend of falling sales. Earnings continue to roll in with BAC and MS beating forecasts.

If we look at data over the last couple of weeks, it is hard to argue that the US economy is not slowing. And that raised expectations for a weak NFP report with good merit. Still, it should be remembered that NFP change has a tendency to beat expectations, and the data suggests it has a strong directional bias for the USD on the day.

U.S. stocks are pointing to a lower open on Tuesday amid elevated treasury yields and in cautious trade ahead of a speech by Federal Reserve chair Jerome Powell later today. The market will be watching for clues over when the Fed may start to cut interest rates, particularly after recent data that has pointed to a softening in the economy and inflation.

US stocks are set for a modestly higher start as Q43 kicks off. This week, US non-farm payroll data, a speech by Fed Chair Powell, and the release of the FOMC minutes will be in focus and could provide further clues over when the Fed could start cutting rates. The market has raised rate cut expectations after Friday's core PCE data showed inflation cooling to a 3-year low.

U.S. stocks are pointing to a higher start as investors digest the latest jobs and GDP data from the US and disappointing guidance from Micron Technologies. The mood is cautious ahead of tomorrow’s core PCE data tomorrow.

U.S. stocks point to a mixed open, with the S&P 500 and the Dow edging higher, while the NASDAQ points to a weaker start ahead of key inflation data on Friday. The market is pricing in two rare cuts this year while the Fed projects one. Nvidia is set to open lower, extending its selloff from Friday. The stock briefly overtook Microsoft as the world's most valuable company. The US economic calendar is quiet today.

Futures traders may be heavily net-short Swiss Francs, but the rapid rise of the currency this week ahead of the SNB meeting suggests some are wary of being caught short a less-dovish central bank.

US stocks are set for a quiet start after US retail sales were weaker than expected and with Federal Reserve speakers in focus. Retail sales show that consumption is moderating as inflation and interest rates remain high and unemployment rises. Looking ahead, Fed speakers are in focus after recent officials have supported the view that one rate cut this year is appropriate.

U.S. stocks are heading for a muted start as the dust settles on last week's inflation data and Federal Reserve interest rate decision. There is no high-impacting data today, so attention will be on tomorrow's retail sales data and Fed speakers for more clues about when the Fed could start cutting rates. Last week, the Fed pointed to one rate cut this year. However, the market is still pricing in two rate cuts.

US stocks are heading for a mixed open as the market continues digesting yesterday's Fed meeting. Policymakers lowered rate cut expectations to just one cut this year and did so after a slight weakening in monthly CPI. Today, data showed PPI fell in May, and jobless claims jumped. Meanwhile, the tech sector, lifted by chip stocks, is benefiting the S&P 500 and the Nasdaq 100 but not the Dow Jones.