Tesla earnings will be reported after the close. The expecations (and prior period numbers for comparison) shows:Q2 Revenues $24.5 billion estimate, which would be a slight increase from Q1 and a substantial 45% increase year over year.Tesla's adjusted EPS are...
Video: Here’s your chance to sell the euro, and other musings
Today I spoke with Dale Pinkert from Forex Analytix and noted that an opportunity to buy the US dollar has emerged, particularly against the euro. For the second half of the year, Chinese growth and Japan's inflation are the stories to watch. Check out the video or...
WTI crude oil futures settle at $75.35
The price of WTI crude oil futures are settling at $75.35. That is down $0.40 or -0.53%. The low price today reached $75.02. The high price extended to $76.87Technically, the price high approached the falling 200-day moving average at $77.24, but stayed comfortably...
Goldman Sachs: Canadian dollar not the optimal choice to bet against weakening USD
Goldman Sachs weighs in on the Canadian dollar (CAD) in the context of its recent monetary policy changes and the broader environment of USD weakening.Key PointsBoC Rate Hike: The Bank of Canada (BoC) has implemented another 25bp rate hike, which was in line with...
The US treasury auctions off $12 billion of 20 year bonds at a high yield of 4.036%
The US treasury auctioned off a $12 billion of 20 year bonds. The details of the auction results compared to the six-month averages shows:High-yield 4.036%WI level at the time of the auction 4.035%Tail 0.1 basis points versus the 6 month average of -1.1 basis...
The US treasury to auction off $12 billion of 20 year bonds at the top of the hour
The U.S. Treasury will auction off $12 billion of 20 year bonds at the top of the hour.The six-month averages of the major components shows:Bid to cover, 2.71X.Tail, -1.1 basis pointsDirects (a measure of domestic demand), 18.5%Indirects (a measure of international...
More Ramsden: latest UK inflation data shows inflation still a bit higher than expected.
The latest UK inflation data shows indicators of inflation persistence still a bit higher than BOE expected in MayCannot rule out next interest rate cycle will get back to 0 lower bound and need to have room for new QEDoes he mean 0%...HMMM. I thought those days were...
Nasdaq index gives up gains and trades in negative territory
The NASDAQ has given up its gains and has dipped into negative territory briefly. The price is currently up around 7 points or 0.05% but off its highs which had the index up 92.91 points at session highs. The low price today took the index down -6.49 points.The news...
GBPUSD technical update: Target in the GBPUSD reached at 50% retracement
In an early video on the GBPUSD , I spoke to the pair's next target coming at the key 50% midpoint. More specifically, I wrote:"On the downside, the next key target comes against the 50% midpoint at 1.28658 (see chart below). The level also corresponds with a modest...
Apple create an internal ChatGPT bot for employees
Apple has reportedly developed an internal AI bot similar to OpenAI's ChatGPT, as it aims to advance its own generative artificial intelligence capabilities. Codenamed 'Ajax', this large language model framework is part of Apple's bid to keep pace with the...
BOE’s Ramsden: CPI inflation at 7.9% remains much too high
David RamsdenComments from Bank of England deputy governor for markets and banking, David Ramsden, at the Money Macro and Finance Society. The subject of his speech was quantitative tightening. QET should be thought of as operating in the backgroundRepeats that he...
ECB’s Stournaras: Inflation is falling and more tightening could hurt the economy
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,...
European equity close: The FTSE 100 cheers softening inflation data
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 dollar tries to rally again but USD/JPY can’t crack 140 and it retraces
The US dollar found a bid on rising yields but couldn't get through 140.00 against the yen and has retraced. It was the second try at 140.00 today with both stalling at 139.99. That suggests a strong barrier at the figure and it now traces out a technical double...
Russia to consider all ships sailing to Ukrainian ports as potential military cargoes
Russia's defense ministry says all ships sailing in the Black Sea to Ukrainian ports will be considered as potential carriers of military cargo beginning at midnight tonight.Further, ships flagged of other countries will be considered involved in the Ukrainian...
Atlanta Fed GDPNow growth estimate for 2Q unchanged at 2.4% after housing data today
Atlanta Fed GDPNow estimates growth of 2.4% in Q2The Atlanta Fed GDPNow estimate for Q2 growth remained unchanged vs yesterday's value at 2.4%. The US housing starts and building permits did little to sway the growth estimate. In their own words:The GDPNow model...
AUDUSD lower on the day and back below its 200 hour moving average for the 2nd time today
The AUDUSD is lower on the day and back below its 200-hour moving average for the 2nd time today. Earlier in the European session the price move below that moving average only to find support buyers near the high of a swing area between 0.6737 and 0.67546. The 50%...
EIA weekly US oil inventories -708K vs -2440K expected
oil was just below the 200dma ahead of the releasePrior was +5946KGasoline -1066K vs -1577K expectedDistillates +14K vs +460K expectedRefinery utilization +0.6% vs +0.0% expectedProduction estimate 12.3 mbpd vs 12.3 mbpd priorImpld mogas demand: 8.86mbpd Refineries...
EURUSD cracks lower and away from its 100 hour MA. Sellers making a play.
The EURUSD is cracking lower and looks toward support near 1.1184. The move to the downside is moving away from its 100-hour moving average currently at 1.1228. Admittedly, the price action today has seen the EURUSD price move above and below the moving average in the...
Oil nears the 200-day moving average ahead of the weekly EIA inventory report
oil was just below the 200dma ahead of the releaseWTI crude oil is trading just shy of $77 ahead of this week's EIA inventory report at the bottom of the hour.The consensus on the data:Crude -2440KGasoline -1577KDistillates +460KThe API data released late...