It's still early but that's still extremely strong."After recent releases from the US Census Bureau and the National Association of Realtors, the nowcast of third-quarter real gross private domestic investment growth increased from 11.4 percent to 12.3 percent," the...
How did Farfetch Shares End Up among Penny stocks, and Is It a Moment to Buy?
What springs to mind when you hear something about Farfetch? Likely, it conjures images of stylish looks with luxury brands like Balenciaga, Burberry, and Prada. Some of these outfits might be more expensive than what you have in your investing portfolio (sorry)....
KC Fed August manufacturing index +12 vs -20 prior
Prior was -20Composite index 0 vs -11 priorSpecials question in the survey asked about wages and pricing. Both showed dwindling inflation.Comments in the survey:“Obviously at a macro level inflation is way down, but in our little corner of the world it is still a huge...
EURUSD moves back up to test swing area. Get above 1.08485 would tilt short-term bias.
EURUSD bounces and tests swing area up to 1.08485The EURUSD has moved back to the upside after starting the US session moving to the downside. The low in the New York session reached 1.08135. I came up short of the low from yesterday at 1.08017 and the 200 day moving...
ECB’s Centeno: We have to be cautious at the next meeting
Transmission of policy is up and runningECB has been data dependent on decisionsPlenty of data still to come ahead of September decisionDownside risks to the economy have materializedThat comment about downside risks tells you all you need to know -- they're not...
Nasdaq index turns negative
The NASDAQ index has turned into negative territory and is a seeing accelerated selling. Gulp. The gains from the Nvidia earnings are being reversed. Nvidia was trading up over 8% in premarket trading, but is now up only 2.11% on the day. Shares of AMD are now down...
US weekly EIA natural gas storage + 18 bcf vs +33 bcf expected
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,...
Fed’s Harker: The low income consumer is clearly slowing down
We are seeing an uptick in labor productivityThe low income consumer is clearly slowing downConsumer credit card delinquencies are starting to tick up Repeats that they probably have done enough on interest rates, wants to see where demand settles outStudent loans...
US stocks trading higher but some profit-taking in the NASDAQ
The US stocks are trading higher but some profit-taking is being seen in the NASDAQ index. Nvidia which was up as much as 8% in early premarket trading, is still up 4.81% but it's not 8%.A snapshot the market currently shows:Dow industrial average of 18.03 points or...
The USD is moving higher vs. the CAD, AUD and NZD today and making some breaks technically
The USD is moving higher will versus the commodity currencies including the USDCAD, AUDUSD and NZDUSD. In the process and there have been some technical breaks that are driving the price action. For the USDCAD, the price is low back above its 200 and 100-hour moving...
Former St Louis Fed President Bullard says we are in a higher-rate regime
Think St Louis Fed President James Bullard would shy away from the media after retiring from the St Louis Fed? Not a chance. No one loves to talk more than Bullard and he resurfaced today just ahead of Jackson Hole.Some highlights of his interview with Bloomberg:“I...
Eyes on NVDA stock as trading gets underway
NVDA premarketShares of NVDA are trading up about 7% ahead of the equity market open. I worry there could be profit taking at the open or some point today, despite the raft of upgrades following an incredible quarter.There has been extremely heavy options trading in...
Kickstart your FX trading with a technical look at the EURUSD, GBPUSD and USDJPY
Kickstart your FX trading date with a technical look at the EURUSD, USDJPY and GBPUSD:EURUSD: The EURUSD had a up-and-down trading day yesterday with the move to the upside stalling near its 100 hour moving average at 1.08692. In the Asian-Pacific session today, the...
Bond selling returns: US dollar climbs to the highs of the day
The latest economic data wasn't exactly a screaming buy for the US dollar. The durable goods orders data was soft while the initial jobless claims numbers were on the strong side.I wouldn't hang the latest dollar strength on that. Instead, I think bond flows are back,...
US initial jobless claims 230K vs 240K estimate.
Initial jobless claims fall to 230KPrior week 239K revised to 240KInitial jobless claims 230K vs 240K estimate4-week moving average initial jobless claims 236.75K vs 234.50K last week .Continuing claims 1,702M vs 1.708M estimatePrior week continuing jobless claims...
US July durable goods orders -5.2% vs -4.0% expected
Prior was +4.6%Non-defense capital goods orders ex-air +0.1% vs +0.1% expectedPrior non-defense capital goods orders ex-air +0.1% (revised to -0.4%)Ex transport +0.5% vs 0.2% expectedEx defense -5.4% vs +6.0% priorSome clunky transport orders have come through the...
Durable goods orders and initial jobless claims coming up next
USD/JPY 10 minsOne of the more-annoying things about the Jackson Hole symposium is the scheduling. We know when Powell will speak tomorrow but the rest of the schedule won't be released until 8 pm ET tonight, just as the event begins. I don't know why they can't...
Nasdaq Composite Technical Analysis – Watch this key resistance
The selloff that started at the beginning of August is starting to show signs of weakness. Although nothing changed fundamentally, the Nasdaq Composite started to rise as the market was just probably overstretched. This looks more like a pullback as the miss in...
ForexLive European FX news wrap: Dollar steady, equities higher led by tech after Nvidia
Headlines:Markets:USD leads, NZD lags on the dayEuropean equities higher; S&P 500 futures up 0.6%US 10-year yields up 1.6 bps to 4.213%Gold up 0.2% to $1,917.66WTI crude up 0.2% to $79.07Bitcoin down 0.3% to $26,509It was a quiet session for the most part but...
EURUSD Technical Analysis – Approaching key levels
US:The Fed hiked by 25 bps as expected and kept everything unchanged.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.The US economic data keeps on surprising to the upside, but inflation expectations and CPI readings continue to...