Harker says that the Fed is making progress on inflation. Earlier this week, Harker said that he thought it might be time that the Fed can hold rates steady. Other thoughts from earlier this year:Rate Cuts: Harker anticipates that rate cuts might begin sometime next...
A look at the economic calendar for August 11
NZD (New Zealand Dollar)6:30pm: BusinessNZ Manufacturing Index - 47.56:45pm: FPI m/m - 1.6%GBP (British Pound Sterling)2AM: GDP m/m - 0.2% (Previous: -0.1%) Prelim GDP q/q - 0.0% (Previous: 0.1%)2 AM: Construction Output m/m - 0.0% (Previous: -0.2%)2 AM: Goods Trade...
Forexlive Americas FX news wrap: CPI on the light side but dollar rallies anyway
Markets:Gold down $1.60 to $1913WTI crude oil down $1.66 to $82.73US 10-year yields up 9.5 bps to S&P 500 up 1 point to 4469EUR leads, JPY lagsIt was a tough one to make sense of.The US CPI report was lower than anticipated and the kneejerk was exactly what you...
US major indices give up most of the day’s gains and closes near(er) lows
US major indices gave up most of their gains and closed near(er) the lows for the day. There was a spike at the open on the back of the CPI data, but rates started to move higher with the 2-year now up 4.6 basis points, the 10-year up 9.9 basis points, and the 30-year...
Yen weakness continues to be the trade that keeps on giving but resistance looms
Today has certainly been a volatile day in the foreign exchange market but when you zoom out, not much has changed. The dollar is basically flat on the day with one single exception:USDJPY dailyThe yen is the only real mover today, perhaps with some GBP weakness as...
Fed’s Bostic: I don’t know how persistent pandemic labor market changes will be
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,...
Crude oil falls back below $83 after touching a nine-month high
WTI crude oil dailyWTI crude oil is threatening an outside bearish reversal after touching a fresh 9-month high and then slumping below yesterday's low of $82.67.So far, it's back above that level but it may be a close call by the time of the end of electronic...
US July federal budget deficit $221.0 billion vs -109.3 billion 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,...
Bonds bleed after a weak auction, USD/JPY climbs higher
Bill Ackman no doubt cheered on the result of today's 30-year auction. He advertised a bond bearish bet last week and price action hasn't been great for him so far.That might have changed with weak demand at a $23 billion sale of 30s at an auction today. It tailed by...
Fed’s Collins: We are near or perhaps at a sufficiently restrictive level of rates
Nick Timiraos is out with a new article in the Wall Street Journal and he cites an interview with the Fed's Collins from Monday and her saying:“My read of the data that we have so far is that we are near or perhaps at a sufficiently restrictive level of monetary...
US sells 30-year bonds at 4.189% vs 4.175% WI
Highest yield of the cycle (beats Nov 2022 at 4.08%)Bit to cover at 2.42 vs 2.43 priorThe 1.4 basis point tail is not a good sign for the fixed income market. I thought the 4% handle might pull in bids but the history of tails at new issues was too much to...
Cable completes the round trip, now lower on the day
Cable has been under steady pressure after briefly jumping on a moderation in US consumer prices. The pound touched a high of 1.2818 immediately after the release but has since fallen to 1.2713.gbpusd 10 minsThe drop in cable in indicative of market moves elsewhere....
US equities give back a big chunk of gains
The FX market was ahead of the stock market today as enthusiasm quickly waned following the CPI report. That speaks to the caution that's seeped into the market this month.The S&P 500 is now up just 15 points to 4500 after rising to 4544 at the highs of the day...
ATPBot Creates a Solution for Crypto Trading Success
ATPBot has launched its automated crypto trading solution that’s been described as a cheat code for mastering the markets. The platform combines the expertise of its strategy modelling team with the power of artificial intelligence to craft professional-level strategy...
Bond shrugs off CPI, but anticipation builds for today’s 30-year auction
The bond market may have sniffed out a cooler CPI ahead of today's release. The reaction post-data has been uninspiring with US 30s trading at 4.20%, up 2.1 bps on the day following a week of steady declines.US 30 year yields dailyackman The next move will be driven...
Fed’s Daly: CPI data was as expected, it’s good news for families and businesses
Mary DalyWe are committed to getting core inflation downThere's a lot more info coming in beforeI see slowing in the economy but we're not there yetIt's still hard to find workers, the economy isn't yet in balanceWhether we need to hike rates or hold them steady for a...
US Cleveland Fed July CPI +0.2% vs +0.4% prior
> US Cleveland Fed July CPI +0.2% vs +0.4% prior The nowcast from the Cleveland Fed on CPI <!--> Adam Button Thursday, 10/08/2023 | 15:05 GMT-0 10/08/2023 | 15:05 GMT-0 --> <!--> August Core PCE nowcast +0.35% ADVERTISEMENT - CONTINUE READING BELOW...
US equities extend gains, S&P 500 up 1.2%
The S&P 500 is at the highs of the week as it extends today's gain to 52 points, or 1.2%.Consumer discretionary stocks and Chinese stocks are doing particularly well. Some of that is being driven by a 7% gain in BABA shares after earnings.Disney shares in the US...
US equities open higher after CPI
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,...
Redfin reports US rents up +0.3% y/y in July
Redfin today reports that US asking rents rose 0.3% y/y in July. That compares to +13.6% in the year ending July 2022.“While rents are flattening out, it’s too early to say whether rent growth has bottomed,” said Redfin Deputy Chief Economist Taylor Marr in the...