Difficult times require essential goods – plus, defensive assets with strong fundamentals and good historical yield. It appears that difficult times may be approaching sooner than expected. So, let’s look at the potential of Procter & Gamble stock to act as a...
European equity close: Strong finish to the quarter
I love it when a month and a quarter both end on a Friday. It's a tidy finish that sets up a fresh start next week.French stocks haven't shown any aversion to the intense scenes of disruption overnight.Closing changes:Stoxx 600 +1.2%German DAX +1.3%UK FTSE 100...
Atlanta Fed Q2 GDP Now +2.2% vs +1.8% prior
It's been a great week for US GDP. Q1 was revised far higher in a surprise move and now Q2 indications are looking stronger. The Atlanta Fed has upped its Q2 tracker to 2.2% from 1.8%:"After recent releases from the US Census Bureau and the US Bureau of Economic...
US Supreme Court strikes down Biden’s student loan forgiveness program
The US Supreme Court struck down a $430 billion program to forgive student loans held by 40 million Americans in a 6-3 decision that was generally expected.The majority decision said that the executive has some power to alter terms of student-loan programs, the total...
The AUDUSD moves above the falling 100 hour MA. First trades above since June 20
The AUDUSD has moved above the 100-hour moving average of 0.66485. That is the first trade above that moving average since falling below on June 20. The price has also moved above a broken swing area between 0.6637 and 0.6652. The area is now close support for buyers...
Bank of Canada Q2 business outlook survey sees improving inflation expectations
64% of firms expect inflation to remain above 3% for the next two years, down from 79% in Q1 surveyDemand for labor is softening as sales expectations moderateIndicator of future sales -6% vs -18% priorFirms expect input and output prices to grow at a slower rate for...
GBPUSD moves back above technical levels as USD falls. Back above key swing area.
The GBPUSD has snapped back to the upside after tamer core PCE data. The move to the upside comes after the pair tested a swing area going back to June 12 – 14 (see green number circles) and the swing low from Wednesday's trade at 1.2599. Recall yesterday, the price...
Former ECB vice-president says the hiking cycle will end in July
Former ECB vice president Vitor Constancio says that falling inflation means that the final rate hikes from the Federal Reserve and ECB will be in July."Inflation came down again in the Euro Area and the US. HICP in EA was 5.5% (6.1% in May) and the US PCE was 3.8%. I...
June UMich final US consumer sentiment 64.4 vs 63.9 expected
Prelim was 63.9Prior was 59.2Current conditions 69.0 vs 68.0 prelim (64.9 prior)Expectations 61.5 vs 61.3 prelim (55.4 prior)1-year inflation 3.3% vs 3.3% prelim (4.2% prior)5-10 year inflation 3.0% vs 3.0% prelim (3.1% prior)I have no use for this survey.MoneyMaker...
Bitcoin tumbles below the $30,000 level after SEC news. What next technically?
The SEC headlines on bitcoin sent the digital currency sharply to the downside. The price which reached a high of $31,260 moved down to a low of $29,508. In the process, the pair fell below what was a floor between $29,820 and $29,941. That area will now be eyed as...
SEC says spot bitcoin filings are inadequate – WSJ
Hopes for a bitcoin ETF have spurred the bitcoin rally to $31000 from $25000 but they hit a speedbump today with a breaking WSJ report that the SEC rejected the applications.All is not lost though as the story indicates they can re-file to address surveillance...
US stocks higher at the opening. End of week, month, quarter and 1H
The week, month, 2nd quarter, 1st half of the year are all ending today and stocks are jumping at the open as traders breathe a sigh of relief that the core PC wasn't any worse than expectations. It was still elevated at 4.6% – well above the 2% target power the Fed,...
USDJPY backs off from overbought levels. What now?
The USDJPY moved to a new 2023 high (and high going back to November 2022) reaching just above a key swing area on the daily chart (see video above for outline of that level) at 144.98 and the natural resistance at 145.00. However, the high price could only reach...
Weekly Market Recap (26-30 June)
Monday: Japan’s “top currency diplomat” Kanda commented on the recent yen depreciation and said that they will respond to excessive FX moves. In fact, he added that it’s the pace of moves that they more focused on rather than the levels. Later on, Japan’s Finance...
S&P 500 futures jump 33 points
S&P 500 futures are up 33 points, or 0.75%Weak Nike earnings might have spooked a different market because it's a good bellwether for consumer spending on apparel but the broader market has shaken it off despite a 3% fall in NKE shares.Lower PCE inflation is the...
EURUSD moves back into consolidation area. What do you need to watch today in the EURUSD
The EURUSD moved higher in the early US trading and in the process as it reentered into the "Red Box" (see chart below), that was the value area until breaking lower yesterday (between 1.0886 and 1.0973). The price is currently testing the low swing area within that...
US dollar slumps as PCE inflation ticks lower
The Federal Reserves' preferred measure of inflation fell in May and offered hints that consumer spending might be slowing.The combination led to some US dollar selling as the quarter winds down. The move might have been exagerrated because USD traffic has been...
US Dollar Slides as Fed’s Favorite Inflation Gauge Comes Below Expectations
PCE REPORT KEY POINTS:May U.S. consumer spending rises 0.1% m-o-m, one-tenth of a percent below expectationsCore PCE climbs 0.3% monthly, bringing the annual rate to 4.6% from 4.7%, also below estimatesU.S. dollar extends losses following weaker-than-forecast spending...
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7월 1일부터 전국! 전국민! 더 좋아지는 7가지 혜택 받으세요~
https://www.youtube.com/watch?v=Dx8a41Ml5ZI 7월부터 전국적으로 시행되면서 최대한 많은 분들에게 해당하고, 일상생활 속에서 알아두면 도움이 되는 알짜 정보들만 골라서 소개해 드립니다. 무료 혜택이나 더 늘어나는 지원금 등 유용한 정보 확인하세요! #7월부터 #하반기달라지는 #정부지원금 MoneyMaker FX EA Trading...