The U.S. Treasury sold $8 billion of indexed TIPS bonds at a high yield of 1.97%Bid to cover came in at 2.42X versus 2.38X lastTail: +2 bps Dealers 4.3% versus 9.9% previouslyDirects: 19.6% versus 14.1% lastIndirects 76.2% versus 76.7% last.Strong domestic demand for...
European close: Ugly reversal
Closing changes:Stoxx 600 +0.4%German DAX -0.65%UK FTSE 100 +0.2%French CAC -0.4%Italy MIB -0.5%Spain IBEX +0.1%This isn't a pretty candle in the Stoxx 600. That's an outside reversal and given the tone in US equities right now, I think there could be some...
USDJPY buyers back in control, but pair is still in the up and down range.
USDJPY tilts back to the upside.The USDJPY moved to new highs earlier in the day and in the process ticked above the 145.90 swing area target. However, dollar by momentum slowed, yields dipped off highs, and it impacted the price of the USDJPY. The low price in the US...
GBPUSD back below the 100 day MA. Can the sellers keep the pressure on the pair?
GBPUSD back below the 100 day MAThe GBPUSD is moving back lower and approaches the low for the day at 1.2625. In doing so, the price is back below the 100-day moving average at 1.26373. The corrective move higher in the US session took the price up to a high of 1.2662...
Crude oil stalls the fall near the low from yesterday, and bounces.
Crude oil test the $79 levelCrude oil trading has the seen volatile up-and-down price action. The current price is trading at $78.60 down about $0.30 or -0.37%. Looking at the hourly chart, the low price today reached $77.59 and at the low, tested the low price from...
Fed’s Collins: At this stage it’s appropriate to be patient
> Central Banks > Fed's Collins: At this stage it's appropriate to be patient Central Banks Comments from Collins <!--> --> Adam Button Thursday, 24/08/2023 | 15:18 GMT-0 24/08/2023 | 15:18 GMT-0 <!--> --> Doesn't think it's helpful to...
NASDAQ index now down 1% and back below its 100 hour moving average
The NASDAQ index is now down over 1% at 13581.28 down 137.69 points or 1.00%. The sharp move to the downside has the price back below its 100 hour moving average at 13661.20. The 50 hour moving average is lower at 13506.23.NASDAQ index down below its 100 hour moving...
Atlanta Fed GDPNow continues to sizzle as it bumps up to 5.9% from 5.8%
It's still early but that's still extremely strong."After recent releases from the US Census Bureau and the National Association of Realtors, the nowcast of third-quarter real gross private domestic investment growth increased from 11.4 percent to 12.3 percent," the...
How did Farfetch Shares End Up among Penny stocks, and Is It a Moment to Buy?
What springs to mind when you hear something about Farfetch? Likely, it conjures images of stylish looks with luxury brands like Balenciaga, Burberry, and Prada. Some of these outfits might be more expensive than what you have in your investing portfolio (sorry)....
KC Fed August manufacturing index +12 vs -20 prior
Prior was -20Composite index 0 vs -11 priorSpecials question in the survey asked about wages and pricing. Both showed dwindling inflation.Comments in the survey:“Obviously at a macro level inflation is way down, but in our little corner of the world it is still a huge...
EURUSD moves back up to test swing area. Get above 1.08485 would tilt short-term bias.
EURUSD bounces and tests swing area up to 1.08485The EURUSD has moved back to the upside after starting the US session moving to the downside. The low in the New York session reached 1.08135. I came up short of the low from yesterday at 1.08017 and the 200 day moving...
ECB’s Centeno: We have to be cautious at the next meeting
Transmission of policy is up and runningECB has been data dependent on decisionsPlenty of data still to come ahead of September decisionDownside risks to the economy have materializedThat comment about downside risks tells you all you need to know -- they're not...
Nasdaq index turns negative
The NASDAQ index has turned into negative territory and is a seeing accelerated selling. Gulp. The gains from the Nvidia earnings are being reversed. Nvidia was trading up over 8% in premarket trading, but is now up only 2.11% on the day. Shares of AMD are now down...
US weekly EIA natural gas storage + 18 bcf vs +33 bcf expected
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,...
Fed’s Harker: The low income consumer is clearly slowing down
We are seeing an uptick in labor productivityThe low income consumer is clearly slowing downConsumer credit card delinquencies are starting to tick up Repeats that they probably have done enough on interest rates, wants to see where demand settles outStudent loans...
US stocks trading higher but some profit-taking in the NASDAQ
The US stocks are trading higher but some profit-taking is being seen in the NASDAQ index. Nvidia which was up as much as 8% in early premarket trading, is still up 4.81% but it's not 8%.A snapshot the market currently shows:Dow industrial average of 18.03 points or...
The USD is moving higher vs. the CAD, AUD and NZD today and making some breaks technically
The USD is moving higher will versus the commodity currencies including the USDCAD, AUDUSD and NZDUSD. In the process and there have been some technical breaks that are driving the price action. For the USDCAD, the price is low back above its 200 and 100-hour moving...
Former St Louis Fed President Bullard says we are in a higher-rate regime
Think St Louis Fed President James Bullard would shy away from the media after retiring from the St Louis Fed? Not a chance. No one loves to talk more than Bullard and he resurfaced today just ahead of Jackson Hole.Some highlights of his interview with Bloomberg:“I...
Eyes on NVDA stock as trading gets underway
NVDA premarketShares of NVDA are trading up about 7% ahead of the equity market open. I worry there could be profit taking at the open or some point today, despite the raft of upgrades following an incredible quarter.There has been extremely heavy options trading in...
Kickstart your FX trading with a technical look at the EURUSD, GBPUSD and USDJPY
Kickstart your FX trading date with a technical look at the EURUSD, USDJPY and GBPUSD:EURUSD: The EURUSD had a up-and-down trading day yesterday with the move to the upside stalling near its 100 hour moving average at 1.08692. In the Asian-Pacific session today, the...