Federal Reserve Bank of Atlanta President Raphael Bostic remarks hitting the news wires. the Federal Open Market Committee (FOMC) will base its interest rate decisions on dataFed does not want to be locked into a pre-determined rate pathexpects to see stress in the...
US House Speaker McCarthy says could get a debt agreement in principle this weekend
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,...
Confirmed – US House members to head home after Thursday
Related to this earlier:Confirmed now, members will be given the Memorial Day holiday break to head home:will receive 24 hours notice to get back to D.C. if neededall members to have 72 hours to review any such legislative text relating to the debt ceilingDebt ceiling...
The South Korean PPI has risen at its slowest y/y rate since January 2021
South Korea April Producer Price Index (a 'wholesale' inflation indicator) -0.1% m/m (prior +0.1% prior)+1.6% y/y (prior +3.3%)-Encouraging news on slower inflation.Anyway, I'll let y'all get back to marvelling at NVDA earnings and despairing at debt ceiling...
House Republicans heading home for the Memorial Day long weekend, but be ready to return
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,...
McCarthy says negotiations will continue this evening
US House Speaker McCarthy said earlier thing have gotten a bit better:Finally now with an objective statement - that talks will continue Wednesaday evening US time. Meanwhile, House Democrats have signed a discharge petition to hike the limit. It needs 5 Republican...
Forexlive Americas FX news wrap: USD/JPY hits highest since Nov as Waller stays hawkish
Markets:Gold down $15 to $1959S&P 500 down 32 points to 4125US 10-year yields up 3.4 bps to 3.73%WTI crude oil up $0.98 to $73.89USD leads, NZD lagsIt was a light day for economic data but an opportunity for Fed officials to highlight where they stand on ongoing...
RBNZ Governor Orr says NZ rates are restrictive, well above neutral
The Reserve Bank of New Zealand raised its cash rate again yesterday but signalled the end of the cycle:Governor Orr speaking now, selling the messages:rates are restrictive, well above neutralboth economic growth and inflation are weaker than expectedwe can alter our...
McCarthy on debt limit talks – things are going a little bit better
LOL. "Going a little bit better'. What does that even mean? We are captive to this sort of drivel coming from both sides of the circus.US House Speaker McCarthy speaking on Fox Business News in an interview. More:I will not put a bill on the floor that spends more...
Economic calendar in Asia is nearly empty
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,...
Trade ideas thread – Thursday, 25 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,...
US equity close: Late rebound loses momentum
US stocks were sluggish for most of the day before embarking on a comeback in the final hour of trading led by Nvidia. That comeback ultimately fell flat with some heavier selling in the last half-hour. S&P 500 -0.8%Nasdaq Comp -0.6%DJIA -0.8%Russell 2000...
Nvidia set to report earnings after the bell
I suspect the rip in NVDA shares in the past 30 minutes is due to options trading and not an earnings leak, but I wouldn't rule anything out ahead of the release. Shares of Nvidia have doubled this year in the AI boom, as it chips are best-positioned to be the primary...
Stocks bounce, Treasuries remain stock
There's no news behind the recent bids in stocks and selloff in bonds. The moves haven't left much of an impression on FX but the Nasdaq (shown above) has pared its daily decline to just 0.4%, which is the best since the opening minutes of trade.In the rates market,...
Oil gains after largest US inventory drawdown since 2020
Oil fundamentals and global macro are pulling in opposite directions, leaving the market undecided.Crude has benefited from Saudi warnings along with a huge US inventory draw this week but it's struggling to make real headway because much of the market doesn't want to...
USDJPY moves closer to the 50% midpoint of range since 2022 high
USDJPY moves closer to the 50% midpointThe USDJPY has continued its move to the upside and in the process is moving closer to the 50% midpoint of the move down from the 2022 hide to the 2023 low. That level comes in at 139.574. The high price has reached 139.381 so...
Fed minutes: Officials generally agreed that extent of further hikes less certain
Participants 'generally agreed' that the extent to which further hikes may be appropriate was less certainMany participants focused on need to maintain optionality'Several' said that if economy evolved along the lines of their outlooks, further hikes might not be...
Will EUR/USD reverse higher? Where to target? Goldman Sachs
Goldman Sachs suggests that, unless there is more evidence of divergence in favor of the eurozone, it is unlikely that the EUR/USD will break the recent range towards the topside. The bank has maintained a year-end target of 1.10 throughout the year, a level that has...
US sells 5-year notes at 3.749% vs 3.763% WI
Prior was 3.500%Yesterday's 2-year sale stopped through by 1.4 bps and so did this one. Real money is still buying bonds, especially at the front end and we've seen some follow through after this auction in the cash market.While this is well-above the prior auction,...
US set to sell 5 year notes
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,...