Yesterday we had better-than-expected (headline) inflation data from Australia:This trimmed back expectations for a rate hike from the Reserve Bank of Australia at their next meeting, coming up on July 4. Not everyone shares that assessment though:National Australia...
Goldman Sachs tip the Russell 2000 to shoot way ahead of S&P500 in the next 12 months
Goldman Sachs cite their model for tipping Russell 2000 outperformance ahead:Russell 2000 should rise by 14% during the next 12 months, according to a simple model based on US economic growth and starting valuations that has explained roughly two-thirds of Russell...
Yellen says re China, US will protect its national security, even if it comes with costs
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,...
ECB’s Centeno says very close to the time monetary policy may pause
European Central Bank Governing Council member and Bank of Portugal governor Mario Centeno"We are reaching the time when monetary policy can pause, we are very close," “Not overreacting is a huge concern for every central bank.” Centeno in an interview with Portugal’s...
MUFG: AUD near-term setback after yesterday’s CPI data, ahead of the RBA meeting next week
Yesterday we had better-than-expected (headline) inflation data from Australia:This trimmed back expectations for a rate hike from the Reserve Bank of Australia at their next meeting, coming up on July 4. Not everyone shares that assessment though:MUFG note that...
Goldman Sachs’ Oppenheimer says high rates will cap global risk assets from now
Goldman Sachs ’ Peter Oppenheimer is chief global equity strategist and head of Macro Research in Europe within Global Investment Research.He spoke in an interview on Wednesday with CNBC. Some comments summarise his views:“We’ve seen a big rally in equities, of...
S&P: surprisingly strong demand to keep rates higher for longer in most advanced countries
Catching up with a report from analysts at rating Agency S&P, they say they don't anticipate the monetary tightening cycle in the US will ease in 2023, and before the Federal Reserve 'clearly signals' its intent to do soAlso: "surprisingly strong" demand will keep...
Forexlive Americas FX news wrap 28 Jun:Key central bankers share hawkish bias at ECB conf.
Central bankers from leading global economies expressed the need for additional interest rate increases to bring inflation under control, due to strong labor markets. Federal Reserve Chairman Jerome Powell said that while their current policy is restrictive, it may...
Federal Reserve says US banks pass stress tests – capital ratios well above requirement
Fed stress test on banks results published. In summary, all passed, banks have enough capital to weather a severe economic slump. The pass mark paves the way for banks to issue share buybacks and dividends.Also - Large bank trading books were resilient to a rising...
ICYMI – Deutsche Bank cut both its 2023 and 2024 Brent crude price forecasts
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 equities finish flat as tech leads. Micron jumps after the bell
S&P 500 dailyClosing changes in North America:S&P 500 -0.1%Nasdaq Comp +0.3%Russell 2000 +0.5%DJIA -0.2%Toronto TSX Comp +0.4%Value and smaller technology companies outperformed on Wednesday in less-volatile trading. Shares of Netflix, Google and Tesla were...
Economic calendar in Asia 29 June 2023 – New Zealand and Australian data
Retail sales data from Australia is the focus, given the Reserve Bank of Australia policy meeting is just around the corner (July 4). Steadily rising rates from the Bank are weighing on consumption. The median expectation is for a sliver of a gain m/m only. A number...
Trade ideas thread – Thursday, 29 June 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,...
AUDUSD sellers in control. What would spoil the bearishness in the short term?
AUDUSD breaks lower. What next?The AUDUSD market shifted further into seller control today following the closes below the 200-day Moving Average (MA) on Monday and Tuesday, at 0.66905. Yesterday, the pair closed slightly beneath the MA at 0.6686, while Monday's...
Russian general Sergey Surovikin arrested – report
The Moscow Times reports that Russian general Sergey Surovikin has been arrested.A report yesterday in the New York Times said he at least knew about Prigozhin's plans, citing US intelligence sources.Surovikin is a major figure in the Russian military. He is currently...
WTI crude oil future settle at $69.56
The price of WTI crude oil futures settled at $69.56. That's up $1.86 or 2.75% on the day.The low price reached $67.05. The high was at $69.73.The move to the upside was helped by a much greater-than-expected drawdown of -9.603 million barrels in the EIA weekly crude...
BofA targets USD/JPY at 147 by September
USD/JPY dailyBank of America has provided insights into its outlook on the Japanese yen, highlighting the potential risk of a third phase of yen weakening in 2024.Key Takeaways:BofA's Bearish Stance on Yen: BofA has been bearish on the Japanese yen and expects the...
Goldman Sachs revises EUR/USD forecasts and recommends long EUR/SE
EURUSD dailyGoldman Sachs has updated its forecasts for the EUR/USD currency pair and is advocating for a long position in EUR/SEK as part of an inflation hedge strategy.Key Takeaways:Revised EUR/USD Forecasts: Goldman Sachs is adjusting its projections for EUR/USD to...
EURUSD corrects back toward the 100 hour MA
EURUSD retests the 100 hour MAIn the video, from earlier today, I outlined the "value area" where most of the trading activity has occurred over the last 9-10 days. That range is from about 1.0890 up to 1.0973 (give or take a few pips). In between sits the...
US CBO sees public debt hitting 181% of GDP in 20 years
US government debt will roughly double in the next 20 years, according to the Congressional Budget Office.They see public debt at 181% of GDP on the current trajectory versus 98% currently.Last month, Stanley Druckenmiller made an impassioned plea to get US debt under...