Preview comments via Scotia:expected rise in US retail sales during SeptemberWe know that vehicle sales volumes were up by over 4% m/m SA and that gasoline prices in CPI were up by 1.7% m/m SA. Combined, these two factors could lift retail sales by 0.7% in weighted...
Canada September CPI data due Tuesday, 17 October 2023 – preview
Data for Canadian inflation, September 2023, is due later on Tuesday, at 0830 Eastern time: This snapshot from the ForexLive economic data calendar, access it here. The times in the left-most column are GMT. The numbers in the right-most column are the 'prior'...
Australian data – ANZ-Roy Morgan consumer confidence index 76.4 (prior 80.1)
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,...
Cointelegraph apologizes again for posting “unverified” Bitcoin ETF approval news
ICYMI (probably a good thing!):Fake report? Bitcoin gives it all backCointelegraph have apologized. Earlier today, during routine coverage, Cointelegraph’s social media team posted a message on X without prior editorial approval stating that the United States...
New Zealand Q3 CPI +1.8% q/q (+2% expected)
more to comeNew Zealand CPI Q3 2023:+5.6% y/yexpected 5.9%, prior 6.0%+1.8% q/qexpected +2.0%, prior +1.1%NZD/USD marked down a few points on the data:NZD/USD traded up to that 0.5925 ish level after the weekend election and hasn;t managed to move much higher....
UBS bullish everything! See positive returns across cash, bonds and equities to mid-2024.
UBS chief investment officer Mark Haefele spoke with CNBC on Monday: “we see positive returns across cash, bonds and equities. When we look out towards the middle of next year, we can see the S&P 500 probably [at] about 4500 and we can see the 10-year at about...
Forexlive Americas FX news wrap 16 Oct:Yields higher as tensions not so high in Israel
On Friday markets were worried about the geopolitical risk in Israel. Gold surgedYields move lower on flight to safetyOil surgedStocks moved lower. USD moved higherAlthough tensions remain elevated in Israel, and bombings continue, there was not the ground and/or air...
CNN reports that a US Marine rapid response force is heading to waters off Israel’s coast
CNN report that a US Marine rapid response force is headed to the waters off the coast of Israel, citing a defence official familiar with the planningsaid to number circa 2000 personneljoins US ships and forces already in place or on the way-I know there has been an...
Blackrock turn tactically neutral long-term Treasuries from underweight
BlackRock Investment Institute say that after being underweight long-term U.S. Treasuries since late 2020, as we saw the new macro regime heralding higher rates, they've tweaked their view:U.S. 10-year yields at 16-year highs show they have adjusted a lot – but we...
Terror attack – Two people shot dead in Belgian capital Brussels
The suspect has not yet been apprehended. An assault rifle was turned on people. Two Swedish Nationals are dead. Prosecutors say they are treating the shooting as terrorism.Brussels has increased its terror threat to the highest level.Belgium v Sweden Euro 2024...
Fed’s Harker says again that interest rate hikes are likely over, sees inflation ebbing
more to comeFederal Reserve Bank of Philadelphia President Patrick Harker:says again that interest rate hikes are likely over, sees inflation ebbingIn the absence of some turn in the data the Federal Reserve should hold rates steady Philadelphia Fed President...
Solid gains for major indices to start the trading week.
The major US stock indices are closing the day with solid gains to start the trading week. The earnings calendar kicked off last week with some of the major banks including Citibank, J.P. Morgan, and Wells Fargo. This week there is a mix of financials and tech,...
What are the technicals saying for the EURUSD and GBPUSD going into the new trading day.
As the day moves toward the close in the North American session, and traders look toward the start of the Asia-Pacific session, both the EURUSD and the GBPUSD are moving above their 200-hour moving averages. Not far away are the 38.2% retracement and 100-hour moving...
Economic calendar in Asia Tuesday, 17 October: New Zealand CPI data & RBA meeting minutes
The Reserve Bank of New Zealand will be closely eyeing the NZ inflation data after pausing their rapid and sustained hiking cycle. This snapshot from the ForexLive economic data calendar, access it here. The times in the left-most column are GMT. The numbers in the...
Trade ideas thread – Tuesday, 17 October 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,...
ECBs Lane: ECB will keep rates high until inflation returns to 2%, but may take some time
ECB's chief economist Philip Lane in an interview said:The ECB's decision to raise interest rates took longer than the Federal Reserve's due to several factors.In 2021, demand played a more significant role in driving US inflation, making monetary policy more...
US stocks trading near highs. NASDAQ outperforms
With one hour to go in stock trading, the major indices are trading their highs for the day:Dow Industrial Average is up 322.21 points or 0.96% at 33992S&P index is up 47.21 points or 1.09% at 4374.96NASDAQ index is up 167 points or 1.25% at 13575.39The gains come...
Jerusalem Post: Delay in Israel ground attack to to various reasons
According to the Jerusalem Post, The IDF's (Israeli Defense Forces) planned invasion of Gaza, initially expected on Friday or Saturday, has been delayed for several reasons.Concerns have arisen that Hezbollah might wait until most IDF ground forces are in Gaza before...
Gold comes off of moving average resistance.
The price of gold surged on Friday due to anticipated geopolitical risks in Israel, reaching a high of $1932.88 and surpassing both the 100 and 200-day moving averages in the process (blue and green lines on the chart above). However, in today's trading, the price hit...
WTI crude oil futures settle at $86.66
The WTI crude oil futures settled down $1.03 or 1.17% at $86.66.The high for the day reached $88.29. The low for the day extended to $86.37. Looking at the daily chart, the high price got within $0.13 of a swing area near $88.42. Sellers seemed to lean against that...