As the central bank spar amongst each other and the moderator who is trying to find a new headline), the US stocks have come off low levels. The NASDAQ has turned into positive territory. The NASDAQ is up 20 points or 0.15%.The S&P and the Dow industrial average...
USDCAD finally breaks above the 200 hour moving average.
The USDCAD has been trending lower since peaking at the end of May near 1.36539. Just yesterday the low price extended to 1.3117. That was the lowest level since September 2022.The move to the downside has seen corrective price action where the price has been able to...
GBPUSD tumbles lower after floor is broken at 1.2687
The GBPUSD broke lower in trading today after falling below a floor area between 1.2687 to 1.26988 area. That increased selling pressure and the price has now reached and breached the 38.2% of the move up from the May 25 low at 1.26413. The pair has targets at 1.2624,...
BOJ’s Ueda: Underlying inflation is still under 2%
We're monitoring the situation with the yen very carefully but it's the jurisdiction of the ministry of financeWage inflation is now running at around 2%If you want a 2% inflation rate, you want wage inflation that's slightly or well-above 2% to match productivity...
Powell: We believe there is more restrictive policy coming
> Central Banks > Powell: We believe there is more restrictive policy coming Central Banks Comments from Powell <!--> --> Adam Button Wednesday, 28/06/2023 | 13:45 GMT-0 28/06/2023 | 13:45 GMT-0 <!--> --> If you look at the data over the last...
BOE’s Bailey: Data showed clear persistence of inflation
> Central Banks > BOE's Bailey: Data showed clear persistence of inflation Central Banks Bailey says they will be 'evidence driven' <!--> --> Adam Button Wednesday, 28/06/2023 | 13:42 GMT-0 28/06/2023 | 13:42 GMT-0 <!--> --> We will do what is...
Lagarde: We will very likely hike again in July
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,...
US indices open lower. NASDAQ leads way to the downside.
Major indices stopped declines yesterday with solid gains led by the Nasdaq index. The Dow industrial average snapped a six-day losing streak while the NASDAQ and S&P snapped to day declines. Today, shares are lower in early trading. The NASDAQ is leading the way...
Watch live: Sintra policy panel
Speaking on the policy panel starting now:Andrew Bailey, Governor, Bank of England Christine Lagarde, President, European Central Bank Jerome Powell, Chair, Board of Governors of the Federal Reserve System Kazuo Ueda, Governor, Bank of JapanWatch it live...
USDJPY makes new eight-month highs ahead of central bankers chat. What levels are in play?
The USDJPY is pushing to get a new high for the year and a new eight-month high going back to November as the head of the global central bankers chat in Sintra at 9:30 AM ET. Recent policy action saw the ECB raise rates by 25 basis points and is expected to increase...
Powell and Lagarde to speak together in Sintra
Fed chair Jerome Powell and ECB Governing Council President Christine Lagarde will share the stage at the policy panel in Sintra, Portugal at 9:30 am ET (2:30 pm in London). The leaders of the BOJ and BOE will also be there.Both have spoken at length recently so I...
The EURUSD is hangin around the 100/200 hour MA (mid-range).
The EURUSD is trading lower and at lows for the day after testing a swing area on the top side between 1.0961 and 1.0973. The high price they reach 1.0962. Yesterday the high price extended above the swing high area at 1.0973 up to 1.0975 before rotating back to the...
Why the US dollar is leaping higher today
Cable intradayThe US dollar is leaping higher as North American trading picks up.The commodity currencies and pound are being hit particularly hard and USD/JPY touched 144.45, which is a new seven-month high.What's driving the moves?1) The soft Australian CPI report...
US wholesale inventories advanced for May -0.1% vs. -0.3% last month (revised from -0.1%)
Also inventories advanced -0.1%Prior month wholesale inventories -0.1% revised to -0.3%wholesale inventories for May -0.1% versus -0.3% last month revised. This figure is up 3.6% compared to May 2022.Advance retail inventories for May were estimated at $778.7 billion,...
US May advanced goods trade balance -91.13B vs -96.11B prior
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,...
ForexLive European FX news wrap: Dollar steady, Italy inflation eases
Headlines:Markets:USD leads, NZD lags on the dayEuropean equities higher; S&P 500 futures down 0.1%US 10-year yields down 2.9 bps to 3.738%Gold down 0.4% to $1,906.01WTI crude flat at $67.73Bitcoin down 1.1% to $30,335There weren't much meaningful headlines on the...
Cable down on the day as near-term technicals get called into play
There aren't any major headlines to have dragged the pair lower but it comes against the backdrop of a modest performance by the dollar today. Of note, the antipodeans are dragged much lower after Australia's softer monthly CPI data - which surprisingly saw a strong...
DealHub.io Acquires Usage-based Billing Company Subzee
DealHub.io, today announced the acquisition of Subzee, a billing platform specializing in managing usage and recurring pricing models, expanding its leading CPQ into a complete Quote-to-Revenue platform. The new offering empowers Sales and Finance teams to seamlessly...
US MBA mortgage applications w.e. 23 June +3.0% vs +0.5% prior
Prior +0.5%Market index 216.1 vs 209.8 priorPurchase index 170.3 vs 165.6 priorRefinance index 439.2 vs 425.1 prior30-year mortgage rate 6.75% vs 6.73% priorThat's a decent bounce in mortgage applications in the past week as both purchases and refinance activities...
Brilliant outlook, imprudent valuations – NVDA
Around the time of yesterday’s US market close, rumours spread that the Biden administration is considering new restrictions on exports of AI chips to China, as concerns rise over the power of the technology in the hands of US rivals. The news was reported by...