Here's a look at the change in the Fed funds futures curve after the Fed policy decision in July and after the US non-farm payrolls last Friday:The change is rather minimal but that's essentially it, isn't it?As things stand, traders are not pricing in any more rate...
Yellow Corporation files for Chapter 11 bankruptcy in US District Court
Yellow Corp., a 99-year-old trucking firm and the third largest less-than-truckload carrier in the U.S., has filed for bankruptcy. This decision follows the Teamsters Union's refusal to offer financial concessions to the struggling firm. About 22,000 Teamsters will...
USDJPY trades to a new session high
The USDJPY opened up near its 200-hour moving average at 141.70 and did break below that moving average level and the 38.2% retracement of the move up from the July 28 low at 141.656. However, momentum cannot be sustained on the price of bounce back higher. The pair...
Ftich weighs in on China local-government financing vehicles
> Ftich weighs in on China local-government financing vehicles <!--> --> <!--> --> Fitch says Chinese authorities are likely to implement further measures to ease refinancing pressure at local-government financing vehicles (LGFVs).Fitch says we...
EURUSD dips back below its 200 hour moving average at 1.1001
EURUSD falls below its 200 hour moving averageThe EURUSD broke above its 200-hour moving average for the 1st time since July 20 during Friday's trade and extended upward toward the high from last Monday at 1.10449, and the high from Friday, July 28 at 1.10467....
Shanghai composite said open down -0.3%
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,...
PBOC set USD/CNY central rate 7.1380 versus expected 7.1656
People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading...
Taiwan’s defense ministe: 12 Chinese Air Force planes entered Taiwan’s air defense zone
> Taiwan's defense ministe: 12 Chinese Air Force planes entered Taiwan's air defense zone Geopolitical risk <!--> --> <!--> Geopolitical risk:Taiwan's defense minister says that in the last 24 hours, 12 Chinese Air Force planes have entered Taiwan's...
AUDUSD buyers are making a play with a test of the 100 hour MA
The AUDUSD reached Lowe's on Thursday of last week going back to June 1, 2023. However, the last few days have seen an up-and-down move that has taken the price higher.On Friday the AUDUSD extended above its falling 100-hour moving average for the 1st time since July...
PBOC is expected to set the USD/CNY reference rate at 7.1656 – Reuters estimate
People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate...
Nikkei 225 shares down 0.84%
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,...
The BOJ summary of last meeting
Central Banks A summary from the Bank of Japan's July interest rate decision <!--> --> <!--> --> One member said BOJ needs to patiently continue with monetary easing toward achieving the price stability target.Yield on 10-yr JGB JP10YTN=JBTC down 1...
The biggest mover to start the week is the USDCHF. What technical levels are in play?
The USDCHF in early trading this week is the biggest mover with a 0.18% gain on the day. Technically, the price low was able to stall ahead of the rising 200-hour moving average of 0.87053. The move higher is approaching the next key target against its 100-hour moving...
UK hiring falling by fastest pace in over 3 years
According to recruitment and employment Confederation and the accounting firm of KPMG, in August 2023, UK hiring witnessed its steepest decline since mid-2020, as employers hired fewer permanent staff through recruitment agencies due to economic concerns. The hiring...
Berkshire Hathaway posts its highest ever quarterly operating profit
Over the weekend, Berkshire Hathaway, led by Warren Buffett, recorded its highest-ever quarterly operating profit, reporting an overall profit of nearly $36 billion. The gains were boosted by stock holdings, rising interest rates, and increased dividend payouts. Of...
USDJPY trades near MA/retracement support to start the trading week
The USDJPY is off to a quiet start and little changed in early Asian-Pacific trading. The current price for the USDJPY trades around 141.82. That puts the price still above its 200-hour moving average (green line in the chart below) at 141.686. Just below that is a...
Muted reopen in the major US stock markets
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With the large big caps behind us, what is left in the US Earnings calendar this week?
Last week's positive news included strong earnings from Wall Street heavyweights Amazon and Alphabet. However, disappointing Apple earnings resulted in a 4.8% drop in its stock and helped lead to declines on Friday. Nevertheless, over 79% of S&P 500 companies have...
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The major economic releases this week include US CPI inflation
The economic calendar is a bit light but will be highlighted by the US CPI data on Thursday. The sharp falls due to calendar effects have run its course. The next two months will have low CPI readings of 0.0% and 0.1% drop out of the yearly inflation numbers. So...