Important Information

You are visiting the international Vantage Markets website, distinct from the website operated by Vantage Global Prime LLP
( www.vantagemarkets.co.uk ) which is regulated by the Financial Conduct Authority ("FCA").

This website is managed by Vantage Markets' international entities, and it's important to emphasise that they are not subject to regulation by the FCA in the UK. Therefore, you must understand that you will not have the FCA’s protection when investing through this website – for example:

You will not be guaranteed Negative Balance Protection
You will not be protected by FCA’s leverage restrictions
You will not have the right to settle disputes via the Financial Ombudsman Service (FOS)
You will not be protected by Financial Services Compensation Scheme (FSCS)
Any monies deposited will not be afforded the protection required under the FCA Client Assets Sourcebook. The level of protection for your funds will be determined by the regulations of the relevant local regulator.

If you would like to proceed and visit this website, you acknowledge and confirm the following:

1.The website is owned by Vantage Markets' international entities and not by Vantage Global Prime LLP, which is regulated by the FCA.
2.Vantage Global Limited, or any of the Vantage Markets international entities, are neither based in the UK nor licensed by the FCA.
3.You are accessing the website at your own initiative and have not been solicited by Vantage Global Limited in any way.
4.Investing through this website does not grant you the protections provided by the FCA.
5.Should you choose to invest through this website or with any of the international Vantage Markets entities, you will be subject to the rules and regulations of the relevant international regulatory authorities, not the FCA.

Vantage wants to make it clear that we are duly licensed and authorised to offer the services and financial derivative products listed on our website. Individuals accessing this website and registering a trading account do so entirely of their own volition and without prior solicitation.

By confirming your decision to proceed with entering the website, you hereby affirm that this decision was solely initiated by you, and no solicitation has been made by any Vantage entity.

I confirm my intention to proceed and enter this website Please direct me to the website operated by Vantage Global Prime LLP regulated by the FCA in the United Kingdom

Important Information

By providing your email and proceeding to create an account on this website, you acknowledge that you will be opening an account with Vantage Global Limited, regulated by the Vanuatu Financial Services Commission (VFSC), and not the UK Financial Conduct Authority (FCA).

Please enter a valid email address

Please tick all to proceed

I acknowledge that I am signing up for an account with Vantage Global Limited, regulated by the VFSC, and not with the FCA, at my own discretion.
Please tick the checkbox to proceed
I understand that I have the option to sign up for an account through vantagemarkets.co.uk, which is regulated by the FCA.
Please tick the checkbox to proceed

Proceed Please direct me to website operated by Vantage Global Prime LLP regulated by the FCA in the United Kingdom

Access Restricted

Your access to this website is restricted.

Our website and services are not available to, and are not intended for, individuals who are citizens or residents of the United States, or entities incorporated in or conducting business within the United States.

If this does not apply to you and you believe you have received this message in error, please contact us at support@vantagemarkets.com for further assistance.

If you fall into any of the above categories, please exit the site.

Important Information

Thank you for visiting the Vantage Markets website. Please note that this website is intended for individuals residing in jurisdictions where accessing it is permitted by Vantage and its affiliated entities do not operate in your home jurisdiction.

By clicking 'I CONFIRM MY INTENTION TO PROCEED AND ENTER THIS WEBSITE', you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website based on reverse solicitation principles, in accordance with the applicable laws of your home jurisdiction.

I CONFIRM MY INTENTION TO PROCEED AND ENTER THIS WEBSITE

Partnership

Language

English - Global

English - Global

All

Trading

Platforms

Academy

Analysis

Promotions

About
Search query too short. Please enter a full word or phrase.

Keywords

Customer Service Delivers 24 / 7 Support

Frequently Asked Questions
View all

Gold jumps to new highs with the dollar still strong

* Israel’s plan to strike Iran is ready, according to reports

* ASML CEO sees slow chip recovery extending ‘well into 2025’

* Pullback in US yields spurs gold’s march to record peak

* ECB set for second straight rate cut as inflation and growth abate

FX: USD climbed higher for a sixth straight day to an 11-week high. A win streak that long hasn’t been seen since August 2023. Prices have pushed above the 50% retracement of the April to September downtrend at 103.33. A Trump election victory is starting to get priced in. He doubled down on his plans for high tariffs in a TV interview. Tax cuts and looser financial regulations are all viewed as dollar positive.

EUR dropped to fresh lows and the lowest levels since early August. Markets will be watching ECB President Lagarde and any forward guidance, though expectations are very low.

GBP underperformed as cable dipped below 1.30 and major support. Inflation came in softer than expected. Headline CPI fell below 2% for the first time since April 2021. The key services figure came in below consensus (5.2%) and the BoE’s own projection (5.5%) at 4.9%. This firmed up bets for two 25bps rate cuts at the final two BoE meetings of the year. The 100-day SMA, now at 1.2951, has offered support before in June, July and August.

USD/JPY continued to hover just below 150 in what looks like bullish consolidation before a break to the upside. However, Treasury yields are not offering any help as they slid again for a second day. The 10-year, which is seen as a proxy for global borrowing costs, has fallen form the recent high at 4.14% to very close to 4%. A BoJ official said the bank must raise rate very moderately given uncertainties.

AUD broke down and through its 100-day SMA at 0.6693. USD/CAD fell for a second day in a row easing overbought conditions as the loonie outperformed its peers.

US Stocks were positive as risk has proven choppy this week. The S&P 500 closed 0.47% higher to settle at 5,842. The tech-heavy Nasdaq 100 added 0.07% to finish at 20,174. The Dow settled up 0.759% at 43,077. Utilities paced the gainers with only consumer staples and communication services in the red. Indices overcame initial weakness with eyes on multiple themes and drivers including earnings, geopolitical drama and the US election. Decent results from United Airlines and Morgan Stanley saw their shares surge 12% and 6.5% respectively. ASML continued lower, down over 6% after plunging 16% on Tuesday when the chip equipment maker lowered the upper end of its fiscal 2025 sales outlook range.

Asian stocks: Futures are mixed. Asian stocks traded mixed also with disappointing earnings from ASML and LVMH denting the risk mood. The ASX 200 was muted with tech weakness and miners also subdued after Rio Tinto’s quarterly update. The Nikkei 225 underperformed and slipped back below 40,000. The Hang Seng and Shanghai Composite rebounded from early losses. Focus is on a press conference today promoting the steady development of the property sector.

Gold matched the record high from late September at $2685. Yields moved lower helping the non-interest bearing precious metal.

Day Ahead – ECB meeting may not give much away

Downside surprises on inflation and rising growth concerns will push the ECB to cut rates again today. Soft PMI and CPI metrics have seen a dramatic ramp up in easing expectations. The mood music has changed quite dramatically in the last few weeks. The presumed quarterly, gradual pace of rate cuts heard after the September ECB meeting have vanished.

There are no new staff economic projections until the December meeting. That means the focus will be on how President Lagarde guides the pace of further easing, given that the bank has shifted away from what appeared to be a stance of only easing policy at meetings containing macro projections. A data dependent, meeting-by-meeting approach is expected with no pre-commitment to further cuts.

Chart of the Day – EUR/USD looking to help from Lagarde

If President Lagarde bats away suggestions of a prolonged series of rate cuts by the ECB, the euro might find some love. It desperately needs some as it has been in virtual freefall since struggling to break above serious resistance around 1.12. Roughly four back-to-back rate reductions were priced in by markets at the start of the week. A ‘hawkish cut’ might slow the downtrend with prices needing to get above 1.0935 and t 1.0974 to spark a rebound. But a more dovishness bias would see 1.0832 and 1.08 challenged.