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What does steel say about the state of the US economy

What does steel say about the state of the US economy

Steel is the physical backbone of the global economy and trends in steel pricing offer some insight into strength in investment.Oftentimes those signals can become muddied by trade flows, especially when China was dumping steel into the US. Since the steel trade war...

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“Reading the tape” in the USDJPY.

“Reading the tape” in the USDJPY.

In the old days stock traders is to "read the tape". They literally read the tickertape of the trades that were going through live and being recorded. In other words they were looking at the actual price action and making judgments as far as supply and demand from...

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EURUSD extends higher after big move higher yesterday

EURUSD extends higher after big move higher yesterday

The EURUSD has extended to a new high and entered further into what was the trading range going back to April and early May (above 1.0900 area). Yesterday, the pair moved sharply higher and away from the 50% midpoint of the move down from the April 26 high to the May...

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US consumer sentiment wraps up a whirlwind week

US consumer sentiment wraps up a whirlwind week

The Bank of Japan didn't deliver any fireworks ahead of the weekend but the yen weakness today shows there were some major worries they would shift gears. It's been a volatile week of unpredictable and hard-to-explain moves. It's slowed down today ahead of a US long...

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Fed’s Waller: US economy is still ‘ripping along’

Fed’s Waller: US economy is still ‘ripping along’

Right now everything 'seems to be calm' in the banking systemGlobal spillovers from expected from coordinated central bank tightening have to really materializedIt's still not clear that recent bank failures have had a material effect on credit conditionsMonetary...

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ECB’s Centeno: We must act to control inflation

ECB’s Centeno: We must act to control inflation

Policy is on restrictive terrain, it isn't a support to growthRates should remain in restrictive territory for some more time after the summerAgain, they're just alluding to rates staying high beyond the summer but falling short of actually confirming a rate hike in...

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USD/CAD break lower may have legs to run

USD/CAD break lower may have legs to run

USD/CAD daily chartFrom a technical standpoint, this is one of the more attractive dollar charts at the moment in my view. The pair had largely been consolidating around 1.3300 to 1.3900 since the end of last year, and finally we might be seeing a break in that...

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GBP/USD seals breakout move on the week, what’s next?

GBP/USD seals breakout move on the week, what’s next?

The pair is up nearly 2% on the week, no thanks in part to some heavy dollar selling yesterday as traders finally picked a side after the Fed meeting. But the pound side of the equation itself is also faring quite well, with the currency bolstered by a hotter UK jobs...

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USDCAD Technical Analysis – Key moment

USDCAD Technical Analysis – Key moment

This week, the Federal Reserve took a slightly more hawkish stance than expected. They decided to keep interest rates unchanged at a range of 5.00-5.25%, but they increased the projected terminal rate in the Dot Plot by 50 basis points. The FOMC chose to pause during...

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Eurozone May CPI +6.1% vs +6.1% y/y prelim

Eurozone May CPI +6.1% vs +6.1% y/y prelim

Prior +7.0%Core CPI +5.3% vs +5.3% y/y prelimPrior +5.6%There are no changes to the initial estimates as euro area headline annual inflation is seen dropping further in May. The good news is that core annual inflation is also starting to ease and is that a sign of a...

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