In its ongoing journey to reshape the crypto investing landscape, Struct Finance, a DeFi platform that enables investors to engage with tailored interest rate products linked to digital assets, is thrilled to announce the launch of the BTC.B-USDC Vaults.The...
The US treasury auctions of $32 billion of 10 year notes at a high yield of 3.857%
High-yield 3.857%WI level at the time of the auction 3.847%Tail 1.0 basis points versus six-month average of 1.8 basis pointsBid to cover 2.53X versus six-month average of 2.38XDirects (a measure of domestic demand) 19.9% versus six-month average of 20.0%Indirects (a...
US treasury to $32 billion a 10 year notes that the top of the hour
The US treasury will auction off $32 billion of 10-year notes at the top of the hour. The 6-month averages of the major auction components for the issue show:Bid to cover 2.38XTail 1.8 basis pointsDirects (a measure of domestic demand) 20.0%Indirects (a measure of...
US NEC Director Brainard (and former Fed Governor): CPI data was encouraging
Lael Brainard, the NEC Director (and former Fed Governor), is on the wires saying:June CPI was encouragingUS labor market is in much better balance than just 6 months agoBiggest risk to economy was the threat of debt default, and that has been taken off the tableNew...
USDJPY continues it tumble to the downside. Down over 650 pips over the last 5 days, but..
The USDJPY is down for the 5th consecutive day. Over that time period, the pair has moved over 650 pips. That's a big move in a short period of time. In the process, the price has moved below a upper topping trendline on the daily chart at 139.029, and moved down and...
European major indices close sharply higher as risk-on flows dominate
The major European indices are piggybacking on the better-than-expected US CPI data and subsequent risk-on a flows. Gains of well over 1% are seen across the major indices.Looking at the closing levels:German DAX, +1.5%Frances CAC, +1.64%UK's FTSE 100 +1.91%Spain's...
BOCs Macklem: Concerned that if not careful, the progress to price stability could stall
> Central Banks > BOCs Macklem: Concerned that if not careful, the progress to price stability could stall Central Banks Press conference Q&A has begun <!--> --> <!--> --> We are concerned if we are not careful, the progress to price...
Highlights of prepared remarks from BOC’s Macklem press conference
> Central Banks > Highlights of prepared remarks from BOC's Macklem press conference Central Banks BOC raise rates by 25 basis points to 5% today <!--> --> <!--> --> Further rate decisions will be guided by assessment of incoming data and...
EURUSD technical update: EURUSD breaks to new 2023 highs. What next for the pair?
The EURUSD is trading to a new session and 2023 high and in the process is extended to yet another target between 1.1094 and 1.11346. The high prices traded up to 1.1120 so far. A move above would have traders targeting 1.1184 followed by the 61.8% retracement of the...
Post the BOC rate hike, what are the technicals telling us in the USDCAD
The USDCAD is trading lower today help by softer US CPI data in a Bank of Canada which was a little bit more hawkish. They raise their inflation forecasts for 2024 and also picked up the GDP. They also commented that inflation although lower due to energy prices was...
Crude oil inventories increase by 5.946M barrels vs 0.483M estimate
Crude oil sees a build of 5.946M versus 0.483M estimategasoline inventories draw of -0.003M versus a drawdown of -0.727M estimateDistilates inventories see a build of 4.815M versus a expected draw of -0.262M estimateIn late NY session news yesterday, the private API...
Highlights of the Bank of Canada economic forecasts from Monetary Policy Report
Bank of Canada monetary policy report forecasts:CPI (Consumer Price Index): Sees higher inflation in 2024 and 2023 to remain elevated at 3.7%2023 CPI: Projected at 3.7%, matching consensus expectation (BoC's previous forecast was 3.5%).2024 CPI: Projected at 2.5%,...
Bank of Canada raises rates by 25 basis points to 5.0%
The Bank of Canada lifted rates by 25 basis points to 5.0% as expected.The full statement from the BOC:The Bank of Canada today increased its target for the overnight rate to 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its...
Bank of Canada interest rate decision minutes away
The BOC interest rate decision is minutes away. The expectations are for a 25 basis point hike to 5.0%. This would be the 2nd consecutive hike after 2 meetings where they kept rates unchanged.The USDCAD is trading at session lows at 1.3185. The 50% midpoint of the...
ECB’s Lane: Full economic impact of tightening will play out over the next couple years
ECB's Lane is a speaking and says:The typical length and monetary transmission mean that full economic impact of tightenings over the last year will only play out over the next couple of yearsIn relation to the banking channel, transmission will continue to strengthen...
S&P, NASDAQ hit new April 2022 highs. Stocks higher after CPI data.
US stocks have opened sharply higher and in doing so both the S&P and the NASDAQ have hit new highs going back to April 2022.A snapshot of the market 11 minutes into the U.S. Open is showing:Dow Industrial Average is up 267.24 points or 0.78% at 34528.67S&P...
ECB’s Vlucic: September ECB meeting is very open
ECBs Vlucic is on the wires saying:Latest reading is maybe pointing to services sector softening.September meeting is very openI put more weight on observables, like inflation data and real activity, and lending dataChina is risk to GDP outlookSlowing down pace of...
Feds Kashkari: Fed fight against inflation must succeed
Minneapolis Fed Pres. Kashkari is speaking and says:If high inflation persists, that may need to raise rates further.Fight against inflation must succeed.Higher rates could increase pressure on banks.Bank supervisors should ensure all banks are prepared to withstand...
GBPUSD moves higher and toward 2023 highs and the key 1.3000 level
The GBPUSD is moving sharply higher after the better-than-expected CPI data and in the process is looking to test the next swing area targets on the daily chart up to the 1.29987 level. Of course, the natural resistance at the 1.3000 level is also a key target. The...
US stocks are set to open higher after better CPI data
The major stock indices are set to open higher after the better-than-expected CPI data this morning.The futures are currently implying:Dow Industrial Average up 250 pointsS&P index up 41.5 pointsNASDAQ index up 172 points.The major indices have been up for 2...