Forecast comes via David Arnaud, senior fixed-income fund manager at Canada Life Asset Management.On the Federal Open Market Committee (FOMC):says an on hold decision in June is likelybut another hike in July is a possibility, subject to inflation data developmentsFed...
Reuters Tankan survey: Manufacturers index +6 in May, first positive reading this year
Reuters Tankan sentiment index for big manufacturers +6first positive reading this yearis expected to rise further, to +8, in AugustService-sector index 25hit its highhest this yearseen at 24 in AugustThe solid readings may further fuel speculation that the BOJ may...
New Zealand Q1 Retail Sales -1.4% q/q (expected +0.2%)
<!--> --> <!--> --> New Zealand Q1 Retail Sales excl. inflation-1.4% q/q expected +0.2%, prior -0.6%-4.1% y/yexpected 3.6%, prior -4.0%more to come - Ahead from NZ today is the Reserve Bank of New Zealand policy decision, due at 2pm New Zealand...
Citi expect EURUSD to trade in a range of 1.07-1.12 (previously expected rise to 1.15)
CitiFx on EUR/USD, this comes via the folks at Trading View (may be gated) In summary:expects EURUSD to trade in a range of 1.07-1.12, having previously argued for EURUSD rising closer to 1.15 last NovemberCiting:considers the ECB underpricedsees further euro zone...
ICYMI: HSBC’s 5 reasons it expects the ECB to hike rates 3 more times in the coming months
Justin had the news on the expected aggressive rate hike from the European Central Bank ahead:HSBC has 5 reasons, in brief:Service sector's activity is remarkably robust. The labour market is still fairly tight, and wages are steadily increasing; Due to low...
3 Reasons JPMorgan’s Kolanovic is advising clients to further dump equities, grab cash
Kolanovic says there are more than 3 reasons but the big 3 are:the limbo for debt-ceiling negotiationselevated risk of recessionhawkish Federal ReserveKolanovic recommends:trim allocation to stocks and corporate bondsup stake in cash by 2%rotate out of energy and into...
Goldman Sachs says there is likely more room for US dollar strength in the near term
The Goldman Sachs comments are in a short Bloomberg article (Bloomberg is gated). In summary Goldman Sachs argue that there is likely more room for dollar strength in the near term "than what the market is pricing”“Ultimately, we think total dollar depreciation for...
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Forexlive Americas FX news wrap 23 May. Debt ceiling talks stuck in the mud
The debt ceiling talks seemed stuck in the mud with most of the commentary saying the two sides are far apart. Having said that, the expectations continue to believe that a deal would be made. When?? . When? and What? are not known however. Will they take it to the...
Republican debt limit negotiator Graves says No additional meetings have been scheduled
Graves:No additional meetings have been scheduledSubstantial gaps remainThere is progress on some issuesDon't get sucked into 'progress on some issues'. The easy stuff is, well easy. Yeah, there will be progress/agreement on these. It's the hard stuff that is (are)...
Private oil survey data shows big draw vs. small build expected
The inventory data from the private survey is out now, official data follows Wed. morning (US time).Oil has popped a little higher on the numbers. Info via Twitter:Expectations I had seen centred on:Headline crude +0.8 mn barrelsDistillates +0.4 mn bblsGasoline -1.1...
US House Speaker McCarthy says he does not think a debt limit deal will be agreed to 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,...
Major indices slide as debt talks in Washington muddle along
The major US stock indices are closing lower in trading today as debt talks muddle along without any progress. That gave traders a reason to sell overbought levels, and traders did just that.A snapshot of the final levels is showing:Dow industrial average fell -231.09...
AUDUSD heads into the new trading day near lows from last week
The AUDUSD is looking to end the day near lows. Stocks moved lower. The USD moved higher. Risk off flows? Maybe a little. In this video, I talk about the technicals that are dominating the price action in the pair. The 100-hour MA has seen price action above and below...
Economic calendar in Asia Wednesday, 24 May 2023, Reserve Bank of New Zealand day
The Reserve Bank of New Zealand policy decision is due Wednesday in Asia at 2pm New Zealand time0200 GMT10pm US Eastern time RBNZ Governor Orr press conference follows an hour later. Previews: This snapshot from the ForexLive economic data calendar, access it here....
Trade ideas thread – Wednesday, 24 May 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,...
WTI crude futures settle $0.86 higher at $72.91
Crude oil stalls at ceiling areaToday, the WTI crude futures are closing at $72.91, marking an increase of $0.86 or 1.19%. The commodity hit a high of $73.76 and a low of $71.71. When examining the hourly chart, the peak price encountered resistance within the range...
The NZDUSD trades near 100/200 hour MAs ahead of the RBNZ rate decision
NZDUSD trades around 100/200 hour MAThe NZDUSD pair has been trading at lower rates today, slipping beneath its 100-day moving average at 0.62734 and 100-hour moving average of 0.6259. However, it's been fluctuating around its 200-hour moving average of 0.62505 and is...
Florida Gov. DeSantis will launch his presidential bid in a conversation with Tesla’s Musk
NBC's news is reporting that Florida Gov. DeSantis will launch his presidential bid in a conversation with Tesla CEO Elon Musk. Musk recently stepped down as the Twitter CEO.Elon Musk and Ron DeSantis, the Governor of Florida, are figures who often challenge...
McCarthy: I believe we can still reach debt ceiling deal before June 1
McCarthy still believes we can reach a debt ceiling deal before June 1. He adds:We are not putting any debt ceiling plan on the U.S. House floor that doesn't spend less than we spent this yearNo talks scheduled with Biden yetMeanwhile, the GOP negotiator Graves...