Berkshire Hathaway purchased 3.4mn shares in Occidental Petroleum between May 16-18 Via an SEC filing Berkshire Hathaway reports open market purchase:of 1.6mln shares of Occidental Petroleum common stock at avg price $58.2/share on May 16 - sec filingof 614,020 shares...
G7 countries plan a restriction on Russia’s diamond trade
The G7 leaders summit in Hiroshima, Japan, will discuss plans to impose restrictive measures against the Russian diamond industry and against countries and institutions that help Russia circumvent international sanctions.“You can expect this to be mentioned in the G7...
US Debt default could trigger recession, Harris and Brainard warn
U.S. Vice President Kamala Harris and senior White House economic adviser Lael Brainard (ex-Vice Chair of the Federal Reserve) say unless the debt ceiling is raised:"A debt default could trigger a recession"The info comes via a Reuters report, link here for moreI...
AUD – Citi expect an RBA pause in June and another hike by August. Bearish AUD/NZD.
This is via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. According to Citi, the Australian dollar (AUD) experienced a significant decline...
US and Taiwan have reached an initial agreement on a “21st Century” trade agreement
The Office of the United States Trade Representative (USTR) says the US and Taiwan have reach an initial agreement on what they are referring to as a '21st Century' trade pact.It'll cover customs and trade facilitation, regulatory practices, services regulations,...
Forexlive Americas FX news wrap 18 May: Fed’s Logan leans toward a June hike
Dallas Fed President Lorie Logan got the USD moving to the upside today after saying data at this time, does not support skipping a rate hike at the next meeting. That caught the attention of the market, pushed yields higher, the USD higher, gold lower, and pre-market...
UBS sees three reasons to buy gold
Gold fell on Thursday. If you like it UBS Global Wealth Management outline three reasons to buy.1. Central bank demand should remain robust 2022 was the 13th straight year that central banks were net buyers of gold, and demand is likely to continue“Based on the 1Q23...
S&P index closes just below the key 4200 level
The major US stock indices are closing solidly higher with the NASDAQ index leading the way with a gain of 1.51%. The S&P index is also up strongly at 0.94% and is closing just below the 4200 level that many traders have as the high of a range. The index is...
Poll shows most analysts expect a +25bp RBNZ rate hike on May 24
Via Reuters polling on expectations for the Reserve Bank of New Zealand Official Cash Rate (OCR) ahead. The next meeting of the RBNZ is on Wednesday, May 24 at 2pm local time (0200 GMT and 2200 on Tuesday May 23 US Eastern time)21 of 25 analysts polled expect the RBNZ...
Economic calendar in Asia Friday, 19 May 2023 – Japan inflation data for April
Japanese national-level CPI data is the highlight on the calendar. The Tokyo-area CPI for April rose above March levels, and remained above 3%, for all three readings. The Bank of Japan keeps telling us they expect inflation to be transitory. That's what the Fed and...
Trade ideas thread – Friday, 19 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,...
USDCHF test 38.2% retracement or 2023 trading range
USDCHF moves up to test 38.2% and swing low from FebruaryThe USDCHF ran to the upside with the broader dollar buying and the pair moved up to a high price of 0.9062. That took the price just above the 38.2% retracement of the move down from 2023 high. That retracement...
Mexico central bank leaves benchmark interest rate unchanged at 11.25%
Mexican central bank keeps rates unchanged at 11.25%, as expectedMexican Central Bank (MCB) points out downside risks, including a larger-than-anticipated slowdown of the global economy, less impact from cost-related pressures, and improvements in production and...
WTI crude oil futures settle at $71.86
WTI crude futures are selling at $71.86. That's down $0.97 or -1.33%. The high-priced rate reached $72.97. The low price was $71.52.Looking at the chart, the price settled just below the 200-hour moving average at $71.88. The 100-hour moving average at $71.23. Going...
NZDUSD retraces to swing area. What now?
NZDUSD fall below 100 hour. Seller take control.The NZDUSD traded up and down during yesterday's trade. The low for the day stalled against an upward-sloping trendline. Highs for the day stalled within a swing area between 0.6258 and 0.6273. The price high from...
WSJ Timiraos: Outlines debt limit impasse playbook
The WSJs Timiraos, in an article outlines the "loathsome" playbook in the event of a Debt-ceiling standoff. The expectations are that we don't get to that point but you never know.Potential actions from the Fed include Buying Treasurys shunned by investors due to...
GBPUSD continues move lower. What would ruin the trend move now?
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,...
Senate Majority Leader Schumer: Debt talks are moving forward
US Senate Majority Leader Schumer:Debt ceiling negotiations are making progressSenators should be ready to return to Washington within a 24-hour period during next week's recess as debt ceiling talks move forwardPres. Biden has traveled to Japan to participate in the...
EURUSD makes new lows
EURUSD falls away from its 100 day MA/50% retracementThe EURUSD is trading to new session lows and in the process is running further away from its 100-day moving average. In the morning video on the EURUSD, I spoke to the breaking of the 100-day moving average and the...
Feds Bullard: Higher rates are insurance against inflation. Leaning toward a June hike.
St. Louis Fed Pres. James Bullard in a Financial Times interview is leaning toward a hike in June:higher rates are insurance against inflation he will keep an open mind going into June meeting but is inclined to another hikefall in treasury yields offsets banking...