Fed's Bullard to leave the FedSt. Louis Fed Pres. James Bullard is announcing that he will be stepping down in August (August 14). He will become the Dean at Purdue University's Mitchell E. Daniels, Jr., School of Business. Bullard is not a voter in 2023. The next...
USDCAD makes new 2023 lows (low going back to Sep 2022). What keeps the sellers in control
The USDCAD broke below the 50% midpoint of the move up from the October 21 low at 1.3132, and the June 2023 low at 1.31157. The break led to a move to a new low for the year and low going back to September 2022 at 1.3106. USDCAD falls below 50%However, the price has...
US treasury auctions off $18B or 30 year bonds at a high yield of 2.91%
High yieldWI (when-issued) yield at the time of the auction 3.890%Tail 2.0 bpsBid to cover 2.43X versus 6 month average of 2.39X.Tail 2.0 basis points vs 6 month average of -0.2 basis pointsDirects (a measure of domestic demand) 20.13% vs 6 month average of...
New highs for the EURUSD. There is some room between price and 200 week MA now.
EURUSD putting some room between price and 200W MAThe EURUSD is running to the upside, making another new high for the year and high going back to March 2022. The high just reached 1.12085. In the process, the pair is running further away from its 200-week MA at...
For what it’s worth,Goldman partner gives the S&P a better than fighters chance of new ATH
John Flood, a partner at Goldman Sachs in a note to clients on Wednesday after the CPI data commented that "For the 1st time in 2023, we are currently being asked by multiple clients if we think the S&P 500 is on track to clock an ATH before year-end". Flood...
US 30 year fixed-rate mortgage 6.96% during the July 13 week
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 indices close higher for the 5th consecutive day
The major European indices are closing higher for the 5th consecutive day. The gains today were led by the German DAX:German DAX rose 0.74%Frances CAC rose 0.50%UK's FTSE 100 rose 0.33%Spain's Ibex rose 0.26%Italy's FTSE MIB (delayed) rose 0.78%Benchmark 10 year...
Bank earnings start tomorrow.JP Morgan Citigroup and Wells Fargo all scheduled to announce
The earnings season kicks off tomorrow led by some major banks. J.P. Morgan, Citigroup and Wells Fargo are also scheduled to release tomorrowJ.P. Morgan is expected to announce earnings of $3.96 on the $39.15 billion of revenuesCitigroup is expected to announce...
SF Fed Pres Daly: The good news on inflation this week is indeed good news
Feds Daly on CNBCSaying that we needed to 2 hikes was a way to keep optionality openThe good news on inflation this week is indeed good newsTo early to say we can declare victory on inflationLags in monetary policy is 12 – 24 monthsThere is still cumulative effects of...
The USD is moving to new lows vs major currencies. What do the charts look like?
The USD is making breaks (new lows for the USD) vs a number of major currencies.Technical highlights for each can be seen in the video. Below are those highlight in words:EURUSD: The EURUSD is trained to a new high going back to early March 2022 and in the process is...
GBPUSD buyers remain in full control. Biggest gain this week since November 2022.
The GBUSD is breaking higher today with the move above a swing area on the daily chart between 1.29496 and 1.3000. The price is trading above 1.3100 currently and looks toward a topside target area around 1.3135-40 up to 1.3185. Buyers are in control. The move higher...
S&P and NASDAQ a set new 52 week highs as a stocks open with gains
The S&P and the NASDAQ index are setting new 52 week highs. The major indices are all higher after better-than-expected PPI data.They snapshot of the market shows:Dow Industrial Average up 95 points or 0.28% at 34442S&P index up 25 points or 0.56% of...
US stocks set open higher with the NASDAQ index leading the way
The major US stock indices are set to open with gains across the board. Each day this week has seen a higher close. The major indices are working on their 4th day to the upside. The futures are implying:Dow Industrial Average is up 79 pointsS&P index is up 19.34...
Russia’s oil minister Novak:Companies will decide themselves whether to cut prod in August
Mustard oil minister Novak to Tass says that:Companies will decide for themselves whether to cut oil production in August, but Russia's task is to reduce supplies to world marketsRussia maintains its oil production forecast for 2023 at 515 million tonnesMoneyMaker FX...
EURUSD stretches to another new high and tests a key week technical level
The EURUSD is stretching to a new high for the year, and TO a high level going back to the end of February 2022. The move to the upside has reached a key target on the daily chart near 1.1185. It is also trading around the 200 week moving average on that chart. The...
8월 21일까지 마감! 월 20만원씩 딱~ 1년만 지원합니다. 주변 청년들에게 만19세~34세 널리 알려주세요~
https://www.youtube.com/watch?v=Rc21a9k5_qI 오늘은 딱 1년 동안만 한시적으로 지원하고 곧 신청이 마감되는 복지제도를 소개해 드리겠습니다. 아직 모르는 분들도 계시고, 해가 바뀌면서 나이도 바뀌고, 기준중위소득의 금액도 올해에는 많이 올랐기 때문에 새롭게 자격이 되신 분들이 많으신데요. 바로 다음달 8월에 신청이 마감되니까… 해당되시는 분들은 8월 전에 꼭 신청하시면 좋겠습니다. #8월마감 #정부지원금 #240만원...
US initial jobless claims 237K vs 250K est. The Continuing claims 1.729M vs 1.723M est.
> US initial jobless claims 237K vs 250K est. The Continuing claims 1.729M vs 1.723M est. Weekly US initial jobless claims and continuing claims <!--> --> <!--> Initial jobless claimsPrior week 248K. Revised to 249KFor the week ending July 8, initial...
US June PPI final demand 0.1% vs 0.4% expected. Ex food and energy 2.4% vs 2.6% expected.
Ppi YoY is at lowest level since December 2020Prior month, 1.1%PPI MoM 0.1% vs 0.2% estimate, after a -0.4% decline in May (was -0.3%) and a 0.1% increase in April.The index for final demand increased by 0.1% on an annual basis vs 0.4% estimate.The rise in June's...
ForexLive European FX news wrap: The dollar selling continues
Dollar technicals:Headlines:Markets:AUD leads, JPY lags on the dayEuropean equities higher; S&P 500 futures up 0.3%US 10-year yields down 3.7 bps to 3.824%Gold up 0.1% to $1,959.73WTI crude up 0.2% to $75.86Bitcoin up 0.7% to $30,558We are getting a continuation...
ECB accounts: Members generally concurred interest rates had reached restrictive territory
Members considered that there were both upside and downside risks to the inflation outlookIt was argued that market participants would be surprised by the upward revision of inflationThis could trigger a repricing of the forward curveMembers broadly concurred that...