The Australian and New Zealand dollars are running away with the idea of a longer potential Fed pause, just hours before the latest decision. NZD/USD is up 1.0% and AUD/USD up 0.75% as the pairs rally following softer US producer prices.There may be also something of...
US stocks are trading little changed ahead of the FOMC rate decision
The US stock market is now open. The Dow industrial average is trading to the downside while the S&P and NASDAQ index are trading near unchanged. Most of the pre-marketing trading was in positive territory for the S&P and NASDAQ index.US PPI data was lower...
Coinbase Stock: Is There Life After SEC’s Lawsuit?
Some days are just bad, while others are downright catastrophic. This was shaping up to be one of those days. Or one of those weeks. Coinbase stock has lost about 20% over the last seven days due to the Securities and Exchange Commission launching a lawsuit against...
Reuters: Bank of England to lift bank rate by 25 bps next week. GBPUSD tests May high.
A Reuters poll of 64 economists shows that all expect the Bank of England to lift the bank rate by 25 basis points to 4.75% at their June 22 meeting (next Thursday).They also estimate that the bank rate is to peak at 5.0% in Q3. That was the same as May 31...
USDJPY falls to the 100/200 hour MAs after lower PPI data
The USDJPY has seen a fall back toward the 100/200 hour moving averages between 139.53 and 139.60 after the tamer PPI data in the US. The fall in price lower has found support buyers against the moving average levels on the 1st test. It would take a move below those...
Buyers are making a play in the EURUSD after the better PPI data
The better PPI data has a push the EURUSD to new session highs and new highs going back to May 22. In the process, the price has moved back above its 100-day moving average of 1.08048 and it's 38.2% retracement of the move down from the April high. That level comes in...
US May PPI final demand 1.1% % versus 1.5% expected
US PPI falls to the lowest level since December 2020Prior month 2.3% year on year and 0.2% month-to-monthFinal Demand Year over Year (YoY) 1.1% versus 1.5% expected. Lowest level since December 2020.Final Demand Month over Month (MoM) -0.3% % versus -0.1% expectedEx...
US PPI data and oil inventory data before the FOMC rate decision at 2 PM ET
The FOMC rate decision will highlight the economic data releases that today. The decision will be made at 2 PM ET with expectations that the Fed will skip for the 1st time after 10 consecutive rate hike's saw the target fed funds rate rise from 0.25% to 5.25%....
The AUD is the strongest and the USD is the weakest currency as the NA session begins
The strongest to the weakest of the major currenciesThe AUD is the strongest and the USD is the weakest as the North American session begins. Needless to say, traders are keenly awaiting the Federal Reserve's decision on interest rates which will take place at 2 PM ET...
ForexLive European FX news wrap: Dollar lightly lower awaiting the Fed
Headlines:Markets:NZD leads, USD lags on the dayEuropean equities higher; S&P 500 futures up 0.1%US 10-year yields down 2 bps to 3.819%Gold up 0.1% to $1,946.01WTI crude up 1.1% to $70.17Bitcoin up 0.5% to $25,968It was a relatively quiet session as markets mostly...
JP Morgan slashes Brent crude forecast for the year to $81 from $90 previously
This follows from Goldman Sachs' call earlier this week here:As a reminder, oil prices took a hit after Goldman's revised forecast, with WTI crude hitting a low of $66.85 earlier this week before rebounding off its 200-week moving average to just above $70 at the...
앞으로 10가지! 황당한 정부 정책 개선!
https://www.youtube.com/watch?v=tH-YeKocYy8 정부에서 ‘국민이 일상생활에서 황당하고 불편하다고 느낄 수 있는 규제’나 ‘실제 현장을 반영하지 못하는 현실과 괴리된 규제’ 등 잘못된 정책들을 개선하기 위한 공모전을 진행했습니다. 국민들이 제안한 정책들 중에서 총 10개를 선정했고, 10가지 모두 제도를 합리적으로 개선한다고 하는데요. 선정된 10가지를 바로 오늘(6월 13일)부터 전 국민이 참여할 수...
US MBA mortgage applications w.e. 9 June +7.2% vs -1.4% prior
Prior -1.4%Market index 208.8 vs 194.7 priorPurchase index 163.2 vs 151.7 priorRefinance index 434.1 vs 409.7 prior30-year mortgage rate 6.77% vs 6.81%That's a solid bump up in mortgage applications in the past week but it comes after several weeks of rather subdued...
What is the Fed funds futures curve saying ahead of the FOMC decision today?
Here's a look at how the curve in Fed funds futures have changed since a month ago and at the start of this month:It may seem like an eternity but it was just four weeks ago that traders were still convinced of three rate cuts by the Fed before year-end.That pricing...
Eurozone April industrial production +1.0% vs +0.8% m/m expected
Prior -4.1%; revised to -3.8%Industrial production +0.2% vs +0.8% y/y expectedPrior -1.4%It is a slight rebound in industrial output after a one-off adjustment it would seem last month (more on that here). Looking at the details, intermediate goods (-1.0%) declined...
EUR/USD bound by 100-day moving average ahead of Fed policy decision
EUR/USD daily chartThe dollar endured some mixed fortunes yesterday after the US CPI data but against the euro, it fell on the day but held on at a key resistance point. That being the 100-day moving average (red line), now seen at 1.0803. That level is what is...
US CPI, What and Why. And the Fed Tonight.
Yesterday the Consumer Price Index figure for May came out, published by the US Bureau of Labor Statistics (BLS). The CPI grew at an annual rate of 4%, the lowest reading in two years. On a monthly basis it was 0.1%. The Core CPI, on the other hand, which does not...
Market Update – June 14 – The Big Decision!
Cold feet and cautionary profit taking weighed on Treasuries heading into the FOMC decision Wednesday. There were no surprises in the May CPI report and that supported market expectations that the Fed will remain on a “hawkish hold,” including likely...
Energy transition to limit oil demand growth from this year onwards – IEA
The shift to a clean energy economy is picking up paceA peak in global oil demand is in sight before the end of this decadeGlobal oil demand will grow by 2.4 mil bpd this year, to a record 102.3 mil bpdThat is helped by growth from the post-pandemic recovery, which is...
A heavy Bitcoin as a warning before the FOMC?
Market pictureThe crypto market cap fell 0.5% over the past 24 hours to $1.055 trillion. The recovery momentum was broken with the release of US inflation data, although other markets quickly recovered from the initial move. Bitcoin lost 1% to $25.8K, and Ethereum...