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...
More reports that the US is looking to curb AI chips to China
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 reports differ on the pace of balance sheet reduction
Christine Lagarde was asked today about the ECB balance sheet and responded that interest rates were their many policy lever. She added that they will eventually have a debate about the appropriate size of the balance sheet.There have been varying calls for a faster...
US treasury auctions off $35 billion 7-year notes at a high yield of 3.839%
High-yield 3.839%Tail -1.1 basis points versus six-auction average of 0.3bps.Bid-to-Cover 2.65 X versus six-auction average of 2.51x.Dealers 8.14% versus six-auction average of 12.7%.Directs 16.55% versus six-auction average of 18.9%.Indirects 75.31% versus...
More from ECB’s Villeroy: We need to be patient on the duration rates are kept high
> Central Banks > More from ECB's Villeroy: We need to be patient on the duration rates are kept high Central Banks More from ECB's Villeroy <!--> --> <!--> --> We need to be more cautious about for guidance but would not throw it away...
NASDAQ index moves back into negative territory
The NASDAQ index has reverse back into negative territory. The index reached a high of 13654.14. It is currently marginally higher at 13558.50. At session highs, the index was up 98.46 points.The Dow industrial average has remained negative all day. It's high...
US treasury to auction off $35 billion to 7 your notes at the top of the hour
The U.S. Treasury will auction off $35 billion of 7 your notes at the top of the hour. The six-month averages of the major components of that auction shows :Tail six-auction average of 0.3bps.Bid-to-Cover six-auction average of 2.51x.Dealers six-auction average of...
ECBs Villeroy: Inflation expectations remain anchored
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,...
European equity close: Solid gains and a finish near the highs
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,...