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,...
(AAPL) Apple faces US$1 bn UK lawsuit by apps developers over app store fees
Apple is facing a class action lawsuit brought by more than 1,500 apps developers in the UK over App Store fees.brought by Sean Ennis, a professor at the Centre for Competition Policy at the University of East Anglia, on behalf of 1,566 app developers"Apple's charges...
On Monday China promised more stimulus. Another promise, or for real this time?
Adam had the info posted Monday:China's official Xinhua News Agency said the ruling Communist Party’s 24-member Politburo met, and promised counter-cyclical policy: called for actively expanding domestic demandfor resolving debt risksit left out the slogan of “housing...
BOJ is likely to consider raising their consumer inflation projection to around 2.5%
In summary:Bank of Japan officials meeting this week will probably consider a sharp increase to their inflation forecast for this fiscal year, while also discussing concerns about whether the upward trajectory is sustainableBOJ policy board is likely to mull raising...
No chance we’re having a soft landing, most pernicious Fed tightening since Volcker
Market Watch interviewed David Rosenberg, who was a former chief North American economist at Merrill Lynch and is now president of Toronto-based Rosenberg Research.His US economic outlook is blunt:“There is no chance we’re having a soft landing in the context of the...
JP Morgan: US stock mkt concentration highest 60 years. Watch AI frenzy for selloff sign.
A note Monday from JPMorgan Chief Global Markets Strategist Marko Kolanovic's analyst team.In summary:US stock market is seeing its dependence on a handful of megacap names increase at the fastest pace in 60 years, surpassing what was seen during the dot-com bubble,...
BOJ meet this week. MUFG still expect YCC tweak but their confidence ebbing. Yen scenario.
The Bank of Japan meet on the 27th and 28th.Goldman Sachs expect a tweak:As do MUFG:However, MUFG do say now that their conviction on this is diminishing:Key Points 1. YCC Change Conviction: MUFG has reduced certainty about an alteration in YCC settings in the...
Economic calendar in Asia Tuesday, 25 July 2023 – data from South Korea
The data calendar is almost bare today. From South Korea we'll be getting Q2 GDp, preliminaryexpected 0.5% q/q, prior 0.6%expected 0.8%, prior 0.3%due at 2300 GMT, 1900 US Eastern timeI see China is promising more stimulus:Lets see if there is any 'flood-like' stimmy...
Trade ideas thread – Tuesday, 25 July 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,...
Major indices all close higher. Dow is up for the 11th consecutive day
The majors US stock indices are closing higher. The Dow industrial average is up for the 11th consecutive day and was the biggest gainer of the major indices. The NASDAQ index was the laggard.A snapshot of the market shows:Dow industrial average rose 183.3 points or...
Forexlive Americas FX news wrap: PMIs highlight areas for concern
Markets:The US dollar was generally stronger on Monday as European PMIs deteriorated, leading to strong euro selling and moderate GBP selling. The commodity currencies were generally stronger against the dollar after China hinted at more stimulus, that also helped to...
EURUSD moves to a new session low and looks toward the 50%/100 bar MA on 4H chart
EURUSD trades to a new session low.The EURUSD is trading to a new set as low as the day comes toward a close. In the process, the price has dipped below the swing area between 1.1062 and 1.1075 bread see red numbered circles on the chart above. The next target on the...
The latest IMF global growth forecasts are set to be released on Tuesday
IMF forecasts rarely make it onto the economic calendar but they can be market movers, especially the forecast regarding global growth.The estimates are released quarterly, with the prior edition from April 11 and showing:2023 global GDP +2.8% vs 2.9% in January2024...
Earnings start to heat up tomorrow with Alphabet and Microsoft scheduled to release
The impact of the earnings season will start to be felt a little more starting tomorrow with Microsoft and Alphabet/Google scheduled to release the earnings after the close. Before the open, Verizon, GM, 3M, GE, Raytheon will release earnings. Today Verizon announced...
WTI crude oil settles above the 200-day moving average for the first time since August
WTI crude oil settled above the 200-day moving average for the first time since August in a rare win for the bulls this year.The rally above the 200dma improves the technical picture for oil and doesn't leave much standing in the way to a return to the April high of...
Dow on its way to up day #11
The Dow industrial average is up about 220 points or 0.63% at 35447. A gain today would be the 11th consecutive update for the 30 industrial stocks. The biggest winner today is Chevron with a gain of 2.60%. Goldman Sachs and JP Morgan are both up over 2% on the...
Extremely crowded dollar-short position is tough to believe but might be an opportunity
EURUSD dailyThe latest CFTC weekly report on forex futures positioning data shows that US dollar net shorts are at a record, or at the widest since 2021, depending on who you ask. The net short position for the week ending July 18 rose 18% to 568,721 contracts.That's...
Goldman Sachs: We expect BOJ to tweak YCC this week, but see limited JPY rally
Goldman Sachs expects the Bank of Japan (BoJ) to make adjustments to the Yield Curve Control (YCC) at their upcoming meeting. However, the bank foresees a limited appreciation of the Yen following this adjustment, attributing the potential restraint to...
U.S. Treasury auctions off $42 billion over to your notes at a high yield of 4.823%
> U.S. Treasury auctions off $42 billion over to your notes at a high yield of 4.823% WI level at the time of the auction 4.820% <!--> --> <!--> High-yield 4.823%WI level at the time of the auction 4.82%Tail 0.3 basis points versus six-month average...
USDCAD falls back below the 100/200 hour MAs and that tilts the bias back down
The USDCAD traded in a narrow band last week of about 120 pips. The price closed near the highs and above the 30.2% retracement of the July trading range at 1.3204.In trading today, the Asian-Pacific session saw the price initially moved to the upside but stall ahead...