The 'ex. Food & Energy' is the closest measure to the US core inflation rate. Its referred to as core-core inflation. It's a key measure of underlying inflationary pressure, and its at 4% for the month, unchanged from July. The other two measures have dropped...
UK consumer sentiment in August rose its fastest since April
GfK consumer sentiment indicator rose to -25 in Augustfrom a three-month low of -30 in Julybiggest rise since Aprilstill under the survey's average reading, since 1974, of -10 but a long wayGfK comment:"While the financial pulse of the nation is still weak, these...
Japan earthquake: Magnitude 5.8 off east coast of Honshu
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,...
ECB’s Nagel says policy must be more stubborn than inflation is, sees no recession coming
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,...
China’s CSRC met pension funds, big banks, major insurers to increase equity investments
China’s securities regulator, China Securities Regulatory Commission, confirmed it was encouraging medium and long-term investors, such as state pension funds and wealth management funds, to increase their equity investments.The CSRC said it met with pension funds,...
Bank of America outline potential outcomes from the Fed’s Jackson Hole symposium
This summary of what BoA's whatto expect from Jackson Hole is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. 1. Higher-than-Expected...
Fed Jackson Hole full agenda link here – Fed, ECB, BIS speakers
The Federal Reserve Bank of Kansas City will convene its annual Economic Policy Symposium, from August 24 to 26 in Jackson Hole, Wyoming. The theme is "Structural Shifts in the Global Economy" will explore several significant, and potentially long-lasting,...
Brent oil. Citi says OPEC may need to to cut again, “fragile five” now adding to output
Citi commodity analysts say OPEC may need to think about further cuts to oil output.Info comes via a Bloomberg report (gated), main points:the “fragile five” (Iran, Iraq, Libya, Nigeria and Venezuela) have struggled with output losses and disruptions for the past few...
Analyst says strong USD is pressuring US firms
An analyst in the US says inflation remains a concern despite Fed monetary policy being at a restrictive level. The resultant rise in yields, and the US dollar, is a headwind to US based multinationals. The remarks come from a client note from Liz Young, head of...
Forexlive Americas FX news wrap 24 Aug: USD soars as stocks tumble ahead of Powell
The USD soared as stocks tumbled ahead of Fed Chair Powell's speech at Jackson Hole tomorrow at 10:05 AM ET. The greenback is ending the day the runaway strongest of the major currencies with gains of 1.0% vs both the GBP and the NZD. It was also up 0.93% vs the AUD...
Fed Jackson Hole symposium full agenda will be available imminently, Powell speaks Friday
The full agenda of the Fed’s annual Jackson Hole Symposium will be made available at 6 PM US Mountain Time, which is 8 PM US Eastern time.I gave a heads up on this yesterday, but ICYMI.This year’s topic is ““Structural Shifts in the Global Economy”. More on this:This...
Economic calendar in Asia Friday, 25 August 2023 – Japan inflation indication (Tokyo CPI)
I posted a heads-up on the Tokyo CPI data yesterday. ICYMI, the data is on the agenda today. Its August Tokyo inflation data, so its very timely. National-level CPI data for August will follow in about three weeks, it takes longer to gather and collate the national...
Trade ideas thread – Friday, 25 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,...
Stock market close: Nasdaq reverses lower as the consumer crunched
Nasdaq Comp dailyAn ugly reversal in Nvidia is the headline in the Nasdaq as it finished 1.9% and fell more than 3% from the highs. The chart is a technical red flag with a big outside day; and worse is that it came on ostensibly good news.A look at the winners and...
USDCHF extends to the 50% midpoint target. What next?
The USDCHF is extending to new highs after breaking above the swing highs from earlier this week and also last week at 0.88273. Staying above that level is more bullish. The break to the upside has also reached the 50% midpoint of the move down from the end of May...
Nasty day in the markets as the Nasdaq unravels following Nvidia earnings
The Nasdaq Composite is down to 2.0% but more than that, the chart is painting an ugly reversal after what started out as a spike.Nasdaq Comp daily chartThat's a bearish outside day and it's a negative signal. it also comes between the 50-61.8% retracement level of...
EURJPY corrects higher into resistance. Can the sellers keep control and push lower?
The EURJPY traded lower for two trading days and today there was a corrective move higher. The move higher took the pair into a swing area between 157.902 and 158.091. The high price reached 158.038 and has found willing sellers.Also near that swing area is in the 100...
US Treasury’s Adeyemo: Chinese economy is showing weakness that has global implications
Deputy Treasury Secretary Wally AdeyemoSays he is closely monitoring the Chinese economyUS is probably best prepared to deal with the headwinds created by Chinese economic weaknessConcerned about developing economies and those in Asia and Europe that are reliant on...
WTI crude oil futures settle at $79.05
The price of WTI crude futures are settling at $79.05. That's up $0.16 or 0.20%.The high price today reached the $79.28. The low price was at $77.59.Crude oil settles near $79. A key barometer going forwardThe $79 level remains a key barometer for buyers and sellers...
This is the worst kind of analysis
This tweet gets to the heart of far too much economic analysis.Now Larry Summers is a brand unto himself and has held economic positions that most could only dream of; and he earned them. But I'm going to say my piece anyway.Far too much of economic analysis is...