Despite the late-month rebound, which was oddly supported by pessimistic data from the United States, the stock market indexes ended August in the red: the S&P 500 fell by 1.52%, the Nasdaq by 1.58%, the Dow Jones by 2.62%, while the Russell 2000 declined by...
China bought a huge swag of gold in August, 10th consecutive mth it added to gold reserves
August data showed that China's foreign exchange reserve dropped 1.38% from a month earlier to $3.16 trillion, the lowest level since the beginning of the year, according to China's State Administration of Foreign Exchange ( SAFE).At the same time China extended its...
Forexlive Americas FX news wrap: Initial jobless claims show employment market still solid
> Forexlive Americas FX news wrap: Initial jobless claims show employment market still solid Session wrap Forex news for North American trading on Sep 7, 2023 <!--> Adam Button Thursday, 07/09/2023 | 20:35 GMT-0 07/09/2023 | 20:35 GMT-0 --> <!-->...
JP Morgan forecasts USD/JPY to as high as 155 before meaningful BOJ FX intervention
JP Morgan Asian market analyst says that the potential high for USD/JPY in 2023 is around ¥152, and in 2024 to ¥155 .Citing familiar points, most notably divergent monetary policy between the US Federal Reserve and the Bank of Japan, which has lead to a huge yield...
Investor Alert: Upcoming Earnings Reports and How They Impact Market Sentiment
The instrument that traders use to track and monitor scheduled economic events and data releases is called the stock market economic calendar. It provides a chronological listing of key economic indicators, reports, and events that are foreseen to be released by...
Economic calendar in Asia Friday, 8 September 2023, Japan growth
We get Q2 economic growth data from Japan today, the revised estimate. The preliminary data for this was a huge beat:Annualised growth camera in at 6%, well ahead of the 3.1% that was expected. It was driven by external demand that more than offset very poor corporate...
Trade ideas thread – Friday, 8 September 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,...
US equity indexes end Thursday mixed: Dow up while S&P500 and Nasdaq down
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 equity close: Nasdaq down for the fourth day
Nasdaq CompClosing changes:S&P 500 down 0.4%DJIA +0.2%Russell 2000 -0.9%Nasdaq Comp -0.9%Toronto TSX Comp -0.5%Intel and United Health helped to fuel a gain in the Dow despite 2.9% drop in Apple. Broader tech struggled but did finish well above the lows.MoneyMaker...
Fed’s Williams: Labor market balances are evening out
There's still more data to come before next FOMC meetingInflation is far too high but moving downPolicy is in a good place, is data dependentWe are seeing movement in the right direction for the economyIt's an open question is mon pol is restrictive enoughThe latest...
Macklem Q&A: Maybe we don’t need to do more, maybe we do’ on interest rates
> Central Banks > Macklem Q&A: Maybe we don't need to do more, maybe we do' on interest rates Central Banks Macklem takes audience questions <!--> --> Adam Button Thursday, 07/09/2023 | 18:40 GMT-0 07/09/2023 | 18:40 GMT-0 <!--> --> We will...
WTI crude oil ends 9-day winning streak, settles 67-cents lower
oil dailyNo even a surprisingly large draw in US crude oil inventories could combat the inevitable profit taking of a nine-day rally in oil. WTI crude settled lower by 67-cents to $86.87 per barrel.There's a technical case to retest the old range top at $84-85 before...
BOC’s Macklem: We are concerned that progress in bringing down inflation has slowed
We are prepared to raise rates again but don't want to raise rates than we have toThe longer we wait, the harder it is likely to be to reduce inflationMon pol might not be restrictive enough to restore price stabilityBank is concerned that larger-than-normal price...
Canadian dollar falls to the lowest since March ahead of Macklem speech
Yesterday the Bank of Canada left rates unchanged at 5.00% but the market isn't sure they're done. The October meeting is priced at a 13% chance of a hike and that rises to about 30% for the Dec 6 meeting.The BOC statement maintained a hawkish bias, saying:The...
Senate votes to confirm Adriana Kugler as Federal Reserve Governor
Adriana KuglerThe latest member of the Federal Reserve's board of governors is Adriana Kugler, a 53-year-old Colombian-American. She was a professor of public policy at Georgetown University's McCourt School of Public Policy and formerly chief economist at the...
UAW calls GM proposal ‘insulting’ again treatens Sept 15 strike
UAW President Shawn Fain released the following statement: "After refusing to bargain in good faith for the past six weeks, only after having federal labor board charges filed against them, GM has come to the table with an insulting proposal that doesn't come close to...
DIS stock is now perilously close to the COVID low. What’s next for Disney?
DIS stock dailyShares of Disney are down another 1.5% today and are now perilously close to the COVID intraday low of $79.07, set on March 17, 2020 when Disney theme parks were shut down and and the world was in full panic about a devastating pandemic and economic...
European equity close: DAX slides again but closes above the lows
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 weekly EIA crude oil inventories -6307K vs -2064K expected
Oil dailyPrior crude -10584KGasoline -2666K vs -950K expectedDistillates +679K vs +239K expectedRefinery utilization -0.2% vs +0.1% expectedProduction estimate 12.8 mbpd vs 12.8 mbpd priorImpld mogas demand: 9.32 mbpd vs 9.07 mbpd priorCrude was flat ahead of the data...
Walmart tweaks pay structure for some new hires
The WSJ reports that Walmart has tweaked its pay structure so some new hires get less.Under the new structure most new hires will make the lowest possible hourly wage for that store. In the past, some new hires, such as those who collect items for online orders, would...