View:
May 12, 2026 9:25 AM UTC
Volatility keeps compressing though maybe some tensions showing at the edges
No shift in ranges and trends yet, but if the fever breaks, USD and JPY correct
US CPI data to keep the Fed in defensive wait and see mode
GBP plays the 'political short' trade as gilts spike, though spec mkt was positioned
Foc
May 12, 2026 7:44 AM UTC
Gilts spike at open after further news of Labour push to replace Starmer
Technicals had already suggested some scope for GBP correction
That said, the narrative is a bit one-dimensional, and there is already short spec positioning
May 12, 2026 7:01 AM UTC
Further Iran slating keeps dollar supported, but trade still in ranges
Lack of volatility belies uncertainty, while Asia regionals show a bit more dollar impetus
Market still reads glass half empty for JPY in US support
May 12, 2026 4:16 AM UTC
Volatility keeps compressing while the 'dash for compute' o/b rally and options arm wrestle goes on
No break in trend but if the fever breaks, USD and JPY correct
US CPI data to keep the Fed in defensive wait and see mode
Focus starts to turn to US-China meetings
May 11, 2026 9:00 PM UTC
Volatility keeps compressing while the 'dash for compute' o/b rally and options arm wrestle goes on
No break in trend but if the fever breaks, USD and JPY correct
US CPI data to keep the Fed in defensive wait and see mode
Focus starts to turn to US-China meetings
May 11, 2026 4:55 PM UTC
Volatility keeps compressing while the 'dash for compute' o/b rally and options arm wrestle goes on
No break in trend but if the fever breaks, USD and JPY correct
US CPI data to keep the Fed in defensive wait and see mode
Focus starts to turn to US-China meetings
May 11, 2026 2:13 PM UTC
April existing home sales at 4.02m were slightly softer than expected and up only 0.2% from March, but with March revised up to 4.01m from 3.98m the net result can be seen as close to consensus, while trend continues to have little direction.