A UBS note from Sunday on the weekend's events on Russia (links below ICYMI).UBS says the coup attempt "appears over as soon as it began, there will be questions and suppositions about what all of this means for days and weeks to come".As for crude oil impact:"Given...
HSBC are looking for a higher EUR on the back of more ECB rate hikes still to come
HSBC forecast to expect two additional 25 bps rate hikes from the ECB over the northern summer compared to just one from the Federal Reserve. HSBC do caveat this with an acknowledgement that there are "upside risks" for further Federal Open Market Committee (FOMC)...
Goldman Sachs on the weekend’s coup attempt in Russia, impact on oil pricing
A snippet from Goldman Sachs on the crude impact of the bumbling cpoup attempt in Russia over the weekend:likely immediate effect of mutiny will be on future crude oil pricing, not spot prices“Markets may price a moderately higher probability that domestic volatility...
Forexlive Americas FX news wrap 26 Jun: Sluggish day to start the new trading week.
It was a relatively quiet day in the forex to start the trading week.Looking at some of the trading ranges for the major currency pairs:EURUSD range was only 33 pips vs an average of 72 pips over the last monthGBPUUSD range was 61 pips vs an average of 96 pipsUSDCHF...
The huge ECB conference kicks off (for real) today – Tuesday’s speakers include Lagarde
Its the Jackson Hole for the European Central Bank ! The ECB's "Forum on Central Banking" kicked off with an introductory dinner on Monday, but the real work begins today, Tuesday, 27 June 2023. The forum is an annual event organised by the European Central Bank and...
US Yellen is planning a July trip to China. Meanwhile US admin preparing investment curbs.
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,...
Economic calendar in Asia 27 June 2023 – almost empty
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,...
Trade ideas thread – Tuesday, 27 June 2023
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,...
Closing changes: Nasdaq suffers a rare down day
Closing changes:S&P 500 -0.35%Nasdaq Comp -1.2%Russell 2000 +0.45%DJIA flatToronto TSX Comp +1.0%Goldman Sachs downgrade Tesla to neutral today and that kicked off some profit taking in shares of TSLA, which fell 6%. Other high-flying mega tech names also...
USDCHF moves toward converged MAs near 0.8958
USDCHF approaches 100/200 hour moving averagesThe USDCHF is moving to new US session highs (still down on the day), and in the process is moving closer to its falling 100 and 200 hour moving average is near 0.89585. The price is currently trading at 0.8955.Earlier...
Putin: The organizers of the rebellion must know they will be brought to justice
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,...
Krelim suggests that today’s statement from Putin will be transformative
Kremlin spokesman Peskov says that Putin's statement -- due tonight -- will "without exaggeration, will determine the fate of Russia". He told pool journalists that the whole day was devoted to preparing Putin's statement.I would imagine all the risks around this...
WTI crude oil settles at $69.37
WTI crude oil futures are settling at $69.37. That's up $0.21 or 0.30%. The high-priced theory reached $70.11. The low price extended to $68.71. Earlier in the Asia-Pacific session, prices moved higher following the brief Russian mutiny, but gains were capped as the...
AUDUSD has a modest “heartbeat” above and below the 50% midpoint
AUDUSD trades above and below the 50%If the price action in the AUDUSD was a heartbeat today, it would be in a hibernation state. The up and down range is only 27 pips. That is well short of the 70 pip average over the last 22-days (about a month of trading). Looking...
Putin to make a number of statements today
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,...
Cracks have appeared in the Japanese yield curve control dam
The Bank of Japan is playing one of the most-dangerous games in central banking history.The whole world is struggling with inflation and their currency is in the dumps, yet they continue to hammer the most-aggressive QE policy in history. The aim is to break a...
US treasury auctions $42B of two-year notes at a high yield of 4.67%
High-yield 4.67%WI level at the time of the auction 4.678%Bid-to-Cover 2.86X versus 6 month average of 2.71xTail -0.8 bps versus a 6 month average of -0.2bpsDirects (a measure of domestic demand) 18.2% versus 6 month average of 20.0%Indirect (a measure of domestic...
ECBs Simkus: At least one more rate hike required
ECB's Simkus via CNBC is saying:At least one more rate hike is required.Nothing new as ECBs Lagarde said a July hike was likely after the last meeting. The question going forward is if one hike is the "least", what might be the "most". That is the unknown.The EURUSD...
US stocks extend lower. NASDAQ leads the way lower.
The major US stock indices have skidded lower led by the NASDAQ index.Nasdaq skids lowerLooking at the hourly chart above, the move to the downside has seen the price of the Nasdaq index move below its rising 100-hour moving average (blue line in the chart above)....
U.S. Treasury to auction off a $42 billion of reopened 2 year notes at 1 PM ET
The U.S. Treasury will auction off a $42 billion of reopened to your notes at the top of the hour. The major component averages over the last 6 months show:Bid-to-Cover: 2.71xTail: -0.2bps Directs (a measure of domestic demand) 20.0%Indirect (a measure of domestic...