OPEC+ action helped to reduce oil market volatilityWill have a pavilion at COP28 to showcase how OPEC members are dealing with emissionsHopes that all voices will be at the table at COP28Just some token remarks there by Al Ghais. He's trying to sound reassuring on...
USDCAD Technical Analysis – The correction lower is still underway
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike...
US500, Fear-Greed Index, Put Call Ratio and More
A few days ago, the US500 futures, after having fallen -6.55% in 13 trading sessions and having corrected -8.48% from the highs reached at the end of July (4607), came to test the psychological level of 4200 as well as its MA200: now, five trading sessions later (at...
Dollar dips as risk rebound continues on the day
We are now seeing an extension to the narrow ranges from the start of European morning trade today. EUR/USD has moved up from around 1.0570 to 1.0600 while GBP/USD is also up from 1.2230 to 1.2270 on the day. This comes as traders fade the dollar strength from the...
China reportedly weighs new stimulus, higher deficit to meet growth target
Piling on more debt to solve a debt issue? That's new. It is being reported that China policymakers are considering to issue at least ¥1 trillion of additional sovereign debt for spending on infrastructure in order to try and bolster growth prospects. In turn, that...
We’re in the age of ADHD markets
Access to information sounds like a positive thing. However, too much information in a short span of time is not quite that. We live in a time where trying to get information has never been easier. All it takes is a quick Google or ChatGPT these days and you can find...
GBPUSD Technical Analysis – Watch these key levels
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike...
USD/JPY nudges back above 149.00 as upward momentum holds
The earlier dip from the headline here sure didn't last long as traders are still not convinced of any major policy pivot by the BOJ; to no one's surprise really. And as the market mood picks up as Middle East fears subside, we are seeing a decent push higher in...
USDJPY Technical Analysis – Look for these bearish signs
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike...
European stocks off to a positive start as Middle East fears brushed aside
Eurostoxx +1.4%Germany DAX +1.4%France CAC 40 +1.2%UK FTSE +0.9%Spain IBEX +1.5%Italy FTSE MIB +1.5%It's a good start as S&P 500 futures are also nudging a little higher, now up 0.2% on the day. The risk-off vibes from yesterday is quickly being reversed and then...
FX option expiries for 10 October 10am New York cut
There aren't any significant expiries to take note of on the day. As such, trading sentiment might be a bit more muted considering that broader markets are taking in a breather after having steadied following the risk-off flows early yesterday. The lack of key...
BOJ mulls raising FY 2023/24 core CPI target to ~3% from 2.5% forecast in July – report
The Japanese yen is gaining some light ground on the headlines here, with USD/JPY slipping from around 148.90 to a low of 148.55. For some context, the 2.5% core CPI growth forecast was already a revision higher made in July (previously 1.8%).These sort of "leaks"...
EURUSD Technical Analysis – Key resistance in sight
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike...
ECB’s Villeroy: At this stage, further rate hikes are not the right thing to do
Interest rates are on a good levelEvents in Israel add to economic incertitudeWary about oil price developments over Israel situationHe adds that there is no reason presently to tweak inflation prospects and they still see it converging to the 2% mark by...
US core CPI reading to fall to 3.8% by year-end – Goldman Sachs
US core CPI year-on-year (%)It has been on a declining trend since peaking last year, which is what has allowed the Fed to pause on rate hikes. But at ~4%, there is still much uncertainty in terms of identifying if the trend will be able to keep up until core prices...
Goldman Sachs sees marginal impact from Israel gas production disruption for now
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,...
Back to the regular scheduled programming..
And it only took less than a day. Buy value, sell hysteria. Every time when there's a panic in markets, that is the key lesson to always be reminded of. And even more so these days when markets are quick to forget and move on to the next big headline.After the opening...
ForexLive Asia-Pacific FX news wrap: Little net change for major FX rates
Federal Reserve speakers Tuesday include Bostic, Waller, Kashkari and DalyInflation indicators coming up later this week in the US: PPI, CPIJapan fin min Suzuki: Current yen weakening caused in part by interest rate differentialsEuropean Central Bank President Lagarde...
Tesla’s China-made EV sales volume falls 10.9% year-on-year in September
> Tesla's China-made EV sales volume falls 10.9% year-on-year in September <!--> --> <!--> --> Reuters with the info: Tesla sold 74,073 China-made electric vehicles (EVs) in September, a 10.9% decrease from a year earlierSales of China-made Model...
Federal Reserve speakers Tuesday include Bostic, Waller, Kashkari and Daly
It looks like from this lot that Waller may be addressing policy more than the others. 1330 GMT/ 09:30 US Eastern time: Federal Reserve Bank of Atlanta President Raphael Bostic participates in a moderated conversation on the U.S. economic outlook with American Bankers...