Prior was -3.0Production -0.9 vs +14.6 priorNew orders -11.9 vs -3.7 priorCapex +7.8 vs +4.6 priorEmployment +4.9 vs -5.1 priorOutlook +5.8 vs -3.3Comments in the report:Chemical manufacturingGlobal industrial demand for chemicals remains stable but at low levels. Our...
Bitcoin bulls bail out as the first run at $100K fails
I worry about the risk mood at the moment as the megacap tech stocks and bitcoin turn lower. Bitcoin bulls were frothing at the idea of $100K in thinner weekend liquidity but $99,400 was the peak and the sellers have been in charge since. They took another run in Asia...
The political temperature continues to rise in France
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Tech sector steadies as consumer cyclical and industrials soar
Stock heatmap by FinViz.com Mon, 25 Nov 2024 14:46:10 GMTSector OverviewToday’s US stock market showcased a blend of resilience and gains across several sectors. Technology experienced a modest but stabilizing trend with Microsoft (MSFT) holding firm at +0.04%, while...
EURUSD buyers correcting the pair higher to start the new trading week. Buyers make a play
The EURUSD is correcting higher as dollar selling is dominating trading today. Yields are lower with the 10 year now down -11 basis points at 4.300%. The 2-year yield is down -6.4 basis points.Technically, the EURUSD is above a swing area between 1.0483 and 1.0500....
Five-day rally in gold sharply reverses on Lebanon ceasefire report
Gold and oil are under pressure on a report that Lebanon and Israel are near a ceasefire. I'm surprised at the size of these moves as a ceasefire has been close for weeks. In any case, gold is down around $40 on the news and oil down $1.50, both unwinding a big part...
How did Scott Bessent stack up as a fund manager?
Key Square performanceWhen people in markets found out that fund manager Scott Bessent was a leading candidate for Treasury Secretary, the natural question to ask was: How good was he?His fund was Key Square Capital and I searched hard for his returns when his name...
USD selling pushes the USDCHF lower but the 100/200 hour MA is stalling the fall
USD selling has pushed the USDCHF below a swing area between 0.8880 and 0.8992 (call it 0.8900). That comes after a sharp rise in Friday which took the price above technical target.The fall below the swing area is given sellers some comfort after the sharp rise of...
Israel and Lebanon agree to terms of a ceasefire – report
A senior U.S. official told Axios that Isreal and Lebanon have agreed to the terms of the ceasefire.Oil is declining on this, though I don't see it as a big surprise. The Israeli Security Cabinet is expected approve the deal on Tuesday."We think we have a deal. We are...
Belgian business confidence -11.1 vs -12.8 prior
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
It’s all about Scott Bessent today. Five things to know about the incoming Treasury Sec
Market moves today are dominated by repositioning after Trump nominated Scott Bessent to lead the Treasury Department. The US dollar is weaker, Treasury yields are lower and stock futures point to new records.Some quick thoughts:1) One of us!One of us! One of us! One...
Chicago Fed November national activity index -0.40 vs -0.28 prior
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
USD is lower to start the new trading week. Stocks higher. Yields Lower
The USD is lower. US stocks are higher in pre-market futures trading. US yields are lower. The market is approving of the naming of Scott Bessent the new Treasury Secretary. Bessent won the battle that was whittled down to Kevin Warsh and Marc Rowan after Howard...
OPEC+ reportedly set to hold December meeting online
There were already some murmurs about this since Friday, so this just adds credence to the notion. As a reminder, OPEC+ will be discussing oil output policy next on 1 December i.e. this coming weekend. OPEC+ had already said that they would delay the planned start to...
ForexLive European FX news wrap: Dollar holds lower after opening gap down today
Headlines:Markets:EUR leads, USD lags on the dayEuropean equities mixed; S&P 500 futures up 0.4%US 10-year yields down 4.1 bps to 4.368%Gold down 1.0% to $2,684.93WTI crude down 0.1% to $70.71Bitcoin up 0.2% to $98,195There wasn't much action in European morning...
Global oil market overview and what lies ahead for investors by Octa Broker
As a critical resource in the global economy, oil is integral not only to the energy sector but also to industries such as transportation, manufacturing, and agriculture. Changes in its prices impact inflation rates, production costs, and global trade. For instance,...
Copper Technical Analysis – The sentiment remains mixed
Fundamental OverviewCopper continues to have a hard time as the market demands more stimulus from the Chinese officials to stimulate growth more strongly. Copper has been tightly correlated to the Chinese stock market in recent years which just shows the strong...
BOE’s Dhingra: UK no longer looks like an outlier for inflation among advanced economies
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
BOE’s Lombardelli: We remain focused more on services prices and wages
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Crude Oil Technical Analysis – We are approaching the top of the range
Fundamental OverviewCrude oil remains confined in a range between the 72.00 resistance and the 67.00 support as the market continues to weigh the future scenarios. On one hand, we have the Trump’s victory which might be seen as bearish in the short term for fear of...