Earlier preview is here:July non-farm payrolls preview: ADP vs ISM editionThe data is due at 1230 GMT, which is 0830 US Eastern time. Deutsche Bank:While our economists expect some payback from state and local government education hiring for the headline print (+175k...
Ahead of Big Tech Earnings, Wall Street Closes Lower
US stock indices saw slight losses on Thursday (03/08), after 10-year T-note yields hit an 8-month high. Higher bond rates have a negative impact on stocks. The 10-year T-note yield increased further in August, reaching 4.18%, a level not seen since early November....
ICYMI – Russia to cut oil exports by 300,000 barrels per day in September
Saudi Arabia announced on Thursday they'd be extending their output cut:ICYMI, Russian Deputy Prime Minister Alexander Novak jumped on the bandwagon:"Within the efforts to ensure the oil market remains balanced, Russia will continue to voluntarily reduce its oil...
USOil surges as supply tightens
Following Saudi Arabia’s Energy Ministry announcement, that it will extend its voluntary production cut by one million barrels per day until September, with the prospect of additional cuts and extra extensions, oil futures prices rebounded in Thursday’s...
Forexlive Americas FX news wrap 3 Aug: US yields continue to move higher. USD is down.
A day with some significant data in the US ahead of even more important US jobs data tomorrow:Weekly initial jobless claims came in right on the screws for the jobless claims and the continuing claims. Both showed some softening but it was minorQ2 labor costs came in...
ICYMI – Russia’s Finance Ministry says it’ll begin buying gold and FX with oil revenue
ICYMI, a brief item from Bloomberg reporting on a statement from Russia's Finance Ministry saying boosted revenue from oil and gas means it'll be buying gold and FX again. Russia gets around a third of its budget revenues from the oil and gas industry.The finance...
Economic calendar in Asia, 4 August 2023 – Reserve Bank of Australia Statement
It's a bit of a dud data calendar for Asia today, everyone is waiting on the US NFP Friday morning US Eastern time. We do get the latest updated RBA Statement on Monetary Policy.due on 11.30am Sydney time, 0130 GMT, 9.30 pm US Eastern timeFrom an earlier...
Trade ideas thread – Friday, 4 August 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 equity close: A standstill ahead of non-farm payrolls
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,...
End of day technical look at the EURUSD, USDJPY, GBPUSD and USDCHF.
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,...
July non-farm payrolls preview: ADP vs ISM edition
Heading into last month's jobs report, we were looking for a 15th straight month of beating the consenus but it fell just short at +209K vs +225K expected. Here is what to look for this time.Consensus estimate +200K (range +140K to +300K)Private +179KFebruary...
Apple and Amazon earnings after the bell. What is expected? What are the charts saying?
Apple and Amazon will release earnings after the bell today. So what is expected?:Estimates for Apple's earnings:Revenue: $81.7 billionEarnings per share (EPS): $1.19iPhone revenue: $39.9 billioniPad revenue: $6.4 billion (down 11% on the year)Mac revenue: $6.6...
MUFG: BOE’s decision to slow tightening likely precedes a final hike in September
In the wake of the Bank of England's latest monetary policy decision, MUFG has shared its analysis, suggesting that while the pace of tightening has been slowed, another rate hike may still be on the horizon.Key Points:Reduced Tightening Pace: The BoE opted for a...
What’s next for bonds — watch the calendar
What's next for the bond market is all about non-farm payrolls. The Friday jobs report is expected to show 200,000 jobs created but if there's a disappointing reading, the market will read that as a sign that the Fed hiking cycle is over. Moreover, talk about a...
US stocks are at session highs. NASDAQ leads the way
The major indices are trading to new session highs. All 3 indices are trading in positive territory. The gains are led by the NASDAQ index which is up around 0.37%.A snapshot of the market shows:Dow industrial average up 40.95 points or 0.12% at 35123.48S&P index...
WTI crude oil futures snapback higher today
Earlier today, Saudi Arabia announced that it will extend its voluntary 1 million barrels per day (mbpd) oil production cut through September. They added that the cuts could potentially be extended or deepened. Following this announcement, Crude oil prices increased...
AUDUSD corrects higher today and retests a broken swing area
The AUDUSD is trading up and down today. The price has moved up more recently extended to a new session high. In the process, the pair is tested the low of a swing area between 0.65586 and 0.65667 on the 4-hour chart below. A move of the swing area would have traders...
Mad admits to being the original Bitfinex hacker
The original Bitfinex hacker has finally been identified. Ilya “Dutch” Lichtenstein, a resident of New York, has admitted to being the original Bitfinex hacker. The coins were worth $71 million at the time and the value eventually grew to $4.5 billion.Lichtenstein and...
USDCAD sellers push lower but fall stalls at earlier low and retracement target
The USDCAD moved higher earlier in the day and in the process, was able to extend below the 50% midpoint of the move down from the May 2023 high. The midpoint level came in at 1.33729. The high price reached about 5 pips higher at 1.33774 before failing and rotating...
NatWest cuts Bank of England peak rate to 5.50% from 6.00%
The tone from the Bank of England was less-hawkish today and that's led NatWest to cuts its terminal peak rate forecast to 5.50% from 6.00%.Market pricing puts the terminal rate at 5.70% next March. For the upcoming meeting on Sept 21, the market is at a 61% chance of...