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,...
USDCHF trading higher on the day with the bias tilting back to the upside.
The USDCHF has been trading in a fairly narrow trading range over the last 8-9 trading days. The low has come in just above the 0.8900 level at 0.8901. The high price reached 0.90129. So 112 pips have confined the pair.Sitting between those extremes is the...
The dollar moves higher. Stocks moves higher. Yields mixed/little changed.
The panel discussion in Portugal is now over. The US dollar moved higher. Stocks moved a bit higher. Yields were mixed.EURUSD: The EURUSD eventually cracked below its 200 and 100-hour moving averages, and moved toward the low of the value area support near 1.0891 (see...
The NZDUSD breaks lower and is the biggest mover. What led to the decline? What next?
The NZD is the weakest of the major currencies. The NZDUSD is the biggest mover.The pair started it's shoved to the downside after breaking below its 200 day moving average. I spoke to that level in the post andvideo released yesterday (CLICK HERE).The momentum to the...
US weekly crude oil inventories -9.603 million versus -1.757 million estimate
Prior was -3.831 millionCrude oil -9.603 million versus -1.757 million estimateGasoline 0.603 million versus -0.126 million estimateDistillates 0.124 million versus +0.782 million estimateRefinery utilization -0.9% versus 0.2% expectedSPR draw 1.467 millionprivate oil...
As the central bankers spar, the Nasdaq turns into positive territory
As the central bank spar amongst each other and the moderator who is trying to find a new headline), the US stocks have come off low levels. The NASDAQ has turned into positive territory. The NASDAQ is up 20 points or 0.15%.The S&P and the Dow industrial average...
USDCAD finally breaks above the 200 hour moving average.
The USDCAD has been trending lower since peaking at the end of May near 1.36539. Just yesterday the low price extended to 1.3117. That was the lowest level since September 2022.The move to the downside has seen corrective price action where the price has been able to...
GBPUSD tumbles lower after floor is broken at 1.2687
The GBPUSD broke lower in trading today after falling below a floor area between 1.2687 to 1.26988 area. That increased selling pressure and the price has now reached and breached the 38.2% of the move up from the May 25 low at 1.26413. The pair has targets at 1.2624,...
BOJ’s Ueda: Underlying inflation is still under 2%
We're monitoring the situation with the yen very carefully but it's the jurisdiction of the ministry of financeWage inflation is now running at around 2%If you want a 2% inflation rate, you want wage inflation that's slightly or well-above 2% to match productivity...
Powell: We believe there is more restrictive policy coming
> Central Banks > Powell: We believe there is more restrictive policy coming Central Banks Comments from Powell <!--> --> Adam Button Wednesday, 28/06/2023 | 13:45 GMT-0 28/06/2023 | 13:45 GMT-0 <!--> --> If you look at the data over the last...
BOE’s Bailey: Data showed clear persistence of inflation
> Central Banks > BOE's Bailey: Data showed clear persistence of inflation Central Banks Bailey says they will be 'evidence driven' <!--> --> Adam Button Wednesday, 28/06/2023 | 13:42 GMT-0 28/06/2023 | 13:42 GMT-0 <!--> --> We will do what is...
Lagarde: We will very likely hike again in July
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 indices open lower. NASDAQ leads way to the downside.
Major indices stopped declines yesterday with solid gains led by the Nasdaq index. The Dow industrial average snapped a six-day losing streak while the NASDAQ and S&P snapped to day declines. Today, shares are lower in early trading. The NASDAQ is leading the way...
Watch live: Sintra policy panel
Speaking on the policy panel starting now:Andrew Bailey, Governor, Bank of England Christine Lagarde, President, European Central Bank Jerome Powell, Chair, Board of Governors of the Federal Reserve System Kazuo Ueda, Governor, Bank of JapanWatch it live...
USDJPY makes new eight-month highs ahead of central bankers chat. What levels are in play?
The USDJPY is pushing to get a new high for the year and a new eight-month high going back to November as the head of the global central bankers chat in Sintra at 9:30 AM ET. Recent policy action saw the ECB raise rates by 25 basis points and is expected to increase...