Fundamental / Economic Backdrop (short term)
USDJPY at 155.46 trades in an environment shaped by diverging monetary policies and shifting risk sentiment.
The United States continues to show moderating inflation alongside stable labour-market conditions. Markets expect the Federal Reserve to maintain a cautious stance, keeping rates elevated for l…
GBPUSD 12/12/2025
Fundamental / Economic Backdrop (short term)
Recent GBP performance reflects a combination of UK inflation trajectory, Bank of England (BoE) rate expectations, and US dollar behaviour ahead of key macro data. UK economic conditions remain mixed: services activity shows resilience, but consumer demand softens, leaving the BoE cautious rather than a…
CHFJPY 12/12/2025
Fundamental / Economic Backdrop (short term)
CHFJPY at 195.68 trades within a fundamentally mixed environment shaped by diverging monetary policies and a stabilising global risk tone.
Swiss Franc drivers (CHF):
The Swiss National Bank (SNB) has maintained a softly dovish stance relative to its historically tight posture, reflecting slowi…
EURJPY 12/12/2025
Fundamental / Economic Backdrop (short term)
EUR/JPY reflects the interaction between European monetary expectations, Japanese yield policy, and global risk appetite.
Eurozone drivers
Recent Eurozone data suggest sluggish but stabilising growth, with inflation easing toward the ECB’s target, keeping policy biases mildly dovish.
…
GBPJPY 12/12/2025
Fundamental / Economic Backdrop (short term)
GBP/JPY remains driven by a combination of UK rate expectations, Bank of Japan policy stance, and broader risk-sentiment conditions.
United Kingdom influences
Market expectations lean toward a Bank of England (BoE) easing path in 2026, but near-term data (services inflation, wage pressures) re…
XAUUSD 12/12/2025
Fundamental / Economic Backdrop (short term)
Gold remains influenced primarily by interest-rate expectations, USD direction, and macro-risk conditions:
Macro Drivers
Federal Reserve stance: Markets remain convinced of a gradual easing cycle during 2026. Real yields remain soft, maintaining a supportive environment for non-yielding assets…
XAGUSD 12/12/2025
Fundamental / Economic Backdrop (short term)
Silver continues to trade near its recently established historic highs, supported by three main macro themes:
1. Monetary policy expectations
The broader precious-metals complex remains underpinned by expectations of further policy easing by major central banks in early 2026.
These expe…
GBPUSD 11/12/2025
Fundamental / Economic Backdrop (short term)
The US dollar remains primarily driven by expectations around Federal Reserve policy, real yield direction, and broader risk sentiment. With the market still sensitive to any shift in US rate-cut expectations, short-term USD strength or weakness remains highly data-dependent.
Sterling conti…
USDCHF 11/12/2025
Fundamental / Economic Backdrop (short term)
The US dollar remains primarily driven by Federal Reserve policy expectations and US real yields. Current market pricing continues to favour a dovish or neutral Fed trajectory, limiting upside for USD. Any upside surprise in US inflation or labour data would be required to materially strengthen th…
EURUSD 11/12/2025
Fundamental / Economic Backdrop (short term)
US Dollar (USD) conditions remain closely tied to expectations around Federal Reserve policy direction. Markets currently remain sensitive to shifts in US inflation data, employment figures and real yield movements. Any reinforcement of rate-cut expectations continues to pressure USD.
Euro …