The U.S. Treasury will auction off $32 billion of 10-year note at the top of the hour. The treasury has already auctioned off $40 billion of the 3 notes earlier today with domestic demand solid, but international demand was less than average. Below were the results...
Sources:FTC to file injunction to block Microsoft’s Activision deal
The UK has already blocked the deal. The European Commission has approved the deal. This is not a surprise given the Biden administration's tone toward mergers.Microsoft shares are trading up $0.86 or 0.26% $327.63. Activision Blizzard shares are down -$0.11 or -0.14%...
NASDAQ index adds 100 points and looks toward the-Friday
The NASDAQ index is now up 100 points or 0.76% with 13359.47. That takes the price within 26 points of the high from Friday and the high for the year at 13385.95. A move above that level would take the price to the highest level since April 2022.Meanwhile, the S&P...
USDCHF moves closer to its 100 day moving average
USDCHF bases near the 100 hour MA and races higherThe USDCHF is up about 0.66% today, trading in the current hourly bar to a new session high at 0.91013. The moves is short of the high from Wednesday and Thursday near 0.91069 and also the important 100-day MA at...
European equity close: German DAX rings up a 0.9% gain
Closing changes for the main European bourses:Stoxx 600 +0.1%UK FTSE 100 flatGerman DAX +0.9%Italy MIB +0.9%French CAC +0.5%Spain IBEX +0.4%The trend lately has been towards more divergence in European equities. I suspect that signifies money going to work.MoneyMaker...
US sells 3-year notes at 4.202% vs 4.200%
> US sells 3-year notes at 4.202% vs 4.200% Results of the $40 billion US 3-year note auction <!--> Adam Button Monday, 12/06/2023 | 15:32 GMT-0 12/06/2023 | 15:32 GMT-0 --> <!--> Prior was 3.695%That's a slight tail. ADVERTISEMENT - CONTINUE READING...
AUDUSD retraces back to the 100 day MA. Can buyers hold support?
AUDUSD closed above its 100 day MA on FridayThe AUDUSD closed right near its 100-day moving average on Friday after extending above the level moving to a high near 0.6750 before rotating back to close at 0.6743. That was just above the 100-day moving average currently...
NY Fed: One-year ahead expected inflation at 4.1% vs 4.4% in April
Lowest one-year inflation reading since May 2021three-year inflation 3% vs 2.9% priorFive year inflation 2.7% vs 2.6% priorPerceptions of access to credit declined in MayThe survey showed consumers projected lower future rent, food and medical care costs.MoneyMaker FX...
WTI crude oil breaks $67 as the selling extends beyond the May 31 low
WTI crude oil dailyHeavy selling continues to hit the crude oil market to start the week. Technical selling is adding to the pressure now as WTI breaks the May 31 low of $67.03 and falls to the lowest since the flash crash in early May.This wipeout is ominous with...
PrimeXBT crypto futures fair review: Leading the way in 2023
In this article, we will explore PrimeXBT, a platform that has generated significant buzz since announcing its updated crypto futures trading platform. Our goal is to provide you with a fair evaluation to help you determine if PrimeXBT is the right choice for your...
USDCAD tests its falling 100 hour MA on bounce off
USDCAD bounces twice off the 1.3313 level todayThe USDCAD fell below its 100-hour moving average back on May 31. On that day, the price high stalled against the high from March 26 near 1.36539. Over the next 8 trading days, the price moved lower on 7 of those days....
Goldman Sachs: FOMC likely to keep rates unchanged; dollar depreciation expected later
Powell AI imageGoldman Sachs, a leading global investment banking and securities firm, has issued a preview of the forthcoming Federal Open Market Committee (FOMC) meeting, emphasizing its impact on the US dollar's trajectory.According to Goldman Sachs, the FOMC is...
BOE’s Mann: UK data and surveys have remained positive since May’s BOE forecasts
Wage increase of 4% would make it a challenge to return CPI to 2%Upside surprises since May have been in core goods and food pricesThere is still a question in my mind about how tight UK financial conditions really areMonetary policy is not good a fine tuning and...
Treasury yields make a quick move higher
Oddly today, the FX move appeared to lead the move in bonds. I wrote earlier how the sudden dollar rally wasn't supported by yields as the curve was very close to flat. Well that's changed in a hurry with US 10s jumping to 3.78% from 3.72% in about 30 minutes.Again,...
GBPUSD lower on the day and being influenced by the EURGBP
The GBPUSD is trading to a new session low and in the process is extending below a swing area. The move lower in the pair is being influenced by a sharp reversal in the EURGBP. Recall from Friday, the reverse was the case. That is the EURGBP moved lower which...
US dollar rebounds in the countdown to CPI
US dollar buying has picked up since the equity open, possibly on inflows into tech stocks. The bond market isn't doing much today with US yields fractionally lower across most of the curve and up 0.1 bps at the 10-year tenor. That's in contrast to the UK where 10s...
US stocks open the week to the upside
The NASDAQ index is on a 7 week winning streak. The S&P index is up four consecutive weeks. Each of those indices is trading higher at the U.S. open. The gains are led by the NASDAQ index.A snapshot of the market currently shows:Dow industrial average is up 78.11...
USDJPY trades a little up in a little down so far today. Waiting for the next shove.
USDJPY trades in a narrow trading range today (and recently)The USDJPY is mired in a 58 PIP trading range so far today to start the new trading week. That is much less than the 117 PIP average of the last 22 trading days. So a slow start for the current trading week...
EURUSD higher but work to do for the buyers to increase the bullish bias
EURUSD is higher but has work to do to take more controlThe EURUSD moved lower in the early Asian session but found support buyers willing to lean early against its rising 100 hour moving average (blue line currently at 1.07311). The subsequent move to the upside...
WTI crude falls $2. Is this Goldman Sach’s doing?
If you look around markets today, you wouldn't expect to see a $2 fall in oil prices. Stock futures are up 0.3% and the Australian dollar is leading the way in light FX trading.Yet WTI crude is struggling, down $2 and within striking range of last week's lows.What's...