> House Majority Leader McCarthy: yesterday I really felt we had a path to an agreement House Majority Leader McCarthy speaking <!--> --> <!--> We can't be spending more money next yearYesterday I felt we were at the location where I could see the...
USDJPY retests the old 2023 swing highs
USDJPY on the fence and awaits the next shoveThe USDJPY ran to the downside over the last few hours from a combination of the Fed Chair saying that the banking pulling back on lending, lowered the terminal rate for the Fed, and the news around the same time that the...
ECB’s Schnabel:Wage growth has picked up substantially.Concerns about second-round effects
ECBs Schnabel:wage growth has picked up substantiallyas a result there are concerns about second-round facts on inflationit seems fiscal policy is to expansionaryinflation expectations are stubbornly highThe EURUSD moved back above the 100-day moving average 1.0877...
White House: Both sides need to recognize they will get everything they want in a deal
The White House is saying:If both sides negotiate in good faith and recognize they won't get everything they want, a deal is this still possibleDemocratic votes will be needed to pass any dealMeanwhile from the GOP's McConnell:Biden waited months for negotiating...
Fed Powell summary: Inflation is still too high, but risk is more balanced.
Fed Chair Powell speaks Thomas Laubach Research ConferenceFed Chair Jerome Powell's comments center around inflation , which is currently much higher than the Fed's target. He reiterates the importance of price stability as the bedrock of a strong economy and the...
GOP debt negotiators : White House is not being reasonable.
Debt talks have stalledAs Powell speaks, negative headlines are coming out about the debt ceiling talks. Punchbowls Sherman says:Debt limit talks between White House and House Republicans have been pausedNot one issue but multiple issues have proven...
Fed Powell: Inflation is far above that objective
> Central Banks > Fed Powell: Inflation is far above that objective Central Banks Fed Chair Powell speaks at Thomas Laubach Research Conference <!--> --> <!--> --> Inflation is far above that objectivePrice stability is the foundation of a...
ECB Schnabel: ECB can continue to do whatever needed to bring inflation back to 2% target
> ECB Schnabel: ECB can continue to do whatever needed to bring inflation back to 2% target ECB's Schnabel speaking <!--> --> <!--> ECB can continue to do whatever is needed to bring inflation back to 2% target in a timely mannerhas a clear mandate...
Watch Fed Powell LIVE.
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,...
British Pound (GBP/USD) Week Ahead: UK Inflation and US Debt Talks to Dominate
GBP/USD and EUR/GBP Prices, Charts, and Analysis Recommended by Nick Cawley Get Your Free GBP Forecast Get My Guide The latest look at UK inflation will determine Sterling’s strength over the coming days and weeks with headline price pressures expected to have fallen...
US imposes new sanctions against Russia
The US issues new Russian related sanctionsUS State Department designated or identified as block the property almost 200 individuals, entities, vessels, aircraftUS alert financial institutions on potential Russian export control in evasionssanctions target more than...
What levels are in play for the GBPUSD and why through the Fed Chair speech
The GBPUSD retraced higher in trading today and in the process returned to the falling 100-hour moving average currently at 1.2469. Sellers leaned against that level and have pushed the price back lower and below a swing area between 1.2435 and 1.2445. Staying below...
USDJPY trades back toward week’s high
USDJPY above the 2023 old highs and the 200 day MA. Bullish.The USDJPY is reversing back to the upside helped by higher rates. The 2-year yield is up 7.1 basis points to 4.34%. The 10-year is up 6.7 basis points 3.714%. Technically, the price is also being supported...
Major US stock indices open higher but there is some pause
The major US stock indices are trading higher but off premarket implied levels. Nvidia which has been a big gainer (rose $15 or 5% yesterday) is trading down by -$2.90 or -0.90%. Surprise surprise. PS Nvidia shares are still up 10.4% this week. Alphabet shares are...
US stock futures are implying a higher open
The major US indices are looking to open higher with eyes on the 4200 level in the S&P index. The S&P index is currently trading up around 12 points in premarket trading after closing just below the 4200 level at 4198.06 yesterday. PS the 100 week moving...
EURUSD extends back above 100 day MA/50% retracement but backs off
EURUSD trades back below the 100 day MAThe EURUSD moved above the 100 day MA and 50% of the move up from the March low at 1.0805 area. Recall from yesterday, after skimming along the 100 day MA, the price fell below the level in early NY trading and extended to a low...
Feds Bowman: No monetary policy or economic comments
Like Williams, Feds Bowman does not make comments on monetary policy or economic conditions in the USOn bank regulation, Bowman says:Targeted adjustments to banking regulation should be consideredShe is extremely concerned about casting aside tiering of bank...
USDCAD trades near converging cluster of MAs
USDCAD price converging near converging MAsIn line with expectations, Canada's retail sales for the month exhibited a decrease of -1.4%, even as the core measure outperformed predictions at -0.3%, compared to an expected -0.8%. Concurrently, oil prices saw an upward...
Feds Williams: No comments on monetary policy or economic outlook from NY Fed President
Feds Williams does not comment on economic/monetary policy outlook in a speech to Fed research conferenceNew Fed relaunching its public estimate of r-Star rate variableNew work shows even with pandemic natural interest rate remains lowPandemic impact on natural rate...
Canada retail sales March -1.4% versus -1.4% expected
Canada retail sales 4-1.4%Prior month -0.2%Advanced flash estimate for April 0.2%Ex autos -0.3% versus -0.8% expectedPrior ex autos came in at -0.7%The advanced retail sales report for March (released last month) was for a loss of -1.4%In March, retail sales in Canada...