DoubleLine Capital CEO Jeffrey Gundlach was speaking at the Future Proof conference Tuesday at Huntington Beach, California.said the Fed’s tightening cycle should come to an end as the economy slows down further “I think they are done. We have enough economic...
Private oil survey data shows a build for the headline crude number vs. draw expected
The inventory data from the private survey is out now, official data follows on Wednesday morning (US time). Via Twitter:Expectations I had seen centred on:Headline crude -1.9mn barrelsDistillates +1.3 mn bblsGasoline +0.2 mn--This data point is from a...
EUR/USD higher on ECB rate hike leak
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,...
Forexlive Americas FX news wrap: Oil hits a fresh 10-month high
Markets:Gold down $9 to $1912US 10-year yields down 1.6 bps to 4.27%WTI crude oil up $1.60 to $88.89S&P 500 down 0.5%CAD leads, JPY lagsToday's price action largely confirmed that the market is in a wait-and-see mode until we get CPI data and hear from the ECB....
Unnamed sources says ECB to hike its inflation forecasts, firms case for rate rise
Info via Reuters citing unnamed sourcethe European Central Bank's new 2024 inflation projection to be above 3% vs 3% in June, firming case for interest rate hikeECB to cut 2023 and 2024 economic growth projections to broadly in line with market expectationsThe ECB...
US equity close: Apple drags after the latest iPhone announcement
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,...
What are the crowded trades
Some results of the latest Bank of America fund manager survey:: 74% see "soft or no landing"75% say "short-term rates to fall" 0% expect stronger China growth in the next 12 months Japan at biggest overweight since Dec'18)55% say US tech is the most crowded...
Economic calendar in Asia Wednesday, 13 September 2023 – Japan Tankan, PPI
In addition to what is listed below is the Reuters Tankan report for the month. Due at 2300 GMT.The Reuters Tankan is a monthly survey conducted by Reuters news agency in collaboration with the International University of Japan.is similar to the Tankan survey...
Trade ideas thread – Wednesday, 13 September 2023
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,...
US August CPI preview: Are we worried about now or later?
It's been a sluggish start to the US trading week (though not the Tokyo week) but that will change on Wednesday with the release of the August consumer price index report.There's no scope for this data point to meaningfully change the odds of a September Fed rate...
AAPL stock falls to fresh session low after latest product announcements
AAPL stock daily chartAAPL stock is under pressure following the announcement of the iPhone 15 and a new Apple Watch. The 2.5% decline in the shares following the event is a session low and highlights something of a 'sell the fact' reaction. It's something we've seen...
BP CEO Bernard Looney to resign
The CEO of BP is resigning less than four years into the job. The 53-year-old is stepping down after spending his entire career with the energy giant. Looney suddenly found himself offside of the prevailing thinking in oil and gas as he pledged to reduce output and...
Goldman Sachs CEO: The chance of a soft landing has risen very meaningfully
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,...
Watch live: Apple event
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,...
US sells 10-year notes 4.289% vs 4.289% WI
Prior was 3.999%Bid to cover 2.52 vs 2.56 priorThis is the highest yield at auction since 2007 but it was exactly what was priced in the when-issued market. There was some talk of real money bids but they didn't materialize so there might be some disappointment,...
US set to sell 10-year notes at the highest yield since 2007
The US will reopen the latest sale of 10s in an auction today and it's sure to feature the highest yield since 2007.The cash market is trading at 4.29% and that's a pretty good idea of where this one will land. BMO thinks it could undershoot, which might weight on...
Walmart CEO says he feels ‘pretty good’ about second half
US consumers are looking for some relief in pricesUS consumers have held up better than expectedHere were recent comments from Bank of America president of regional banking Dean Athanasia along the same lines. He was asked about the consumer: Yes, consumer spend right...
Poll: Most economists see Fed waiting until at least end of March before cutting rates
94 of 97 economists see no Fed change this month58 of 87 see Fed waiting until at least end of March before cuttingBigger risk is that first Fed cut comes later than expected, according to 23 of 28 economists17 of 97 economists expected at least one more hike before...
EIA boosts 2023 world oil demand growth but cuts 2024 forecast
Sees world oil demand 50k bpd higher this yearSees demand 250k bpd below previous levels next yearSees 2023 demand up 1.81 mbpdSees 2024 demand up 1.36 mbpdGlobal oil inventories forecast to fall by 0.2 million b/d in the fourth quarter of 2023 forecast U.S. gasoline...
European equity close: Germany lags while the UK leads
> European equity close: Germany lags while the UK leads Closing changes in the main European bourses for the day <!--> Adam Button Tuesday, 12/09/2023 | 15:35 GMT-0 12/09/2023 | 15:35 GMT-0 --> <!--> On the day:Stoxx 600 -0.2%German DAX -0.5%Francis...