USD/JPY 10 minsThe strongest NY Fed manufacturing PMI since April 2022 helped to lift USD/JPY off the floor. The pair touched as low as 139.59 today but rose around 40 pips on the PMI and has continued to track higher, rising to 140.55.Aside from JPY, the US dollar is...
The ‘should’ versus ‘will’ debate
I could probably count a dozen instances in the past week or so of economists I respect saying the Fed should cut 50 basis points but probably will only cut 25 bps.At some point, that chorus grows so loud that it tips the balance. We're likely at that point now with...
Tech struggles as healthcare and energy lead: Navigating today’s market shifts
Stock heatmap by FinViz.com Mon, 16 Sep 2024 13:46:16 GMTSector OverviewThe stock market today presents a mixed bag with distinct sector performances as reflected on the heatmap. Technology is facing challenges while healthcare and energy sectors are showing...
US stocks are mixed to start the US trading week.The S&P and Nasdaq win streak in jeopardy
US stocks are mixed to start the trading week. The Dow is higher (and trading at a new all-time high), but the broader S&P and NASDAQ indices are lower. Recall that last week both of those indices rose each of the trading days for the week. That came after sharp...
Kickstart the FX trading day for Sept 16 w/a technical look at the EURUSD, USDJPY & GBPUSD
FIn the kickstart video for September 16, I take a technical look at the 3 major currency pair vs the USD - the EURUSD, USDJPY and the GBPUSD.This week, the US Fed, Bank of England and the Bank of Japan will all meet. At their last meetings the BOE cut rates by 25...
Former NY Fed Pres Dudley says it’s time for 50 basis points
DudleyIt's been quite a turn for former New York Fed President Bill Dudley. Back in late May, he was calling for the Federal Reserve to hike rates further but now he's saying they should be cutting by 50 basis points.The two objectives of the Fed’s dual mandate —...
Canada July manufacturing sales +1.4% vs +1.1% expected
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,...
Empire Fed Sept manufacturing survey +11.5 vs -4.75 expected
Empire FedGeneral business conditions 11.5 versus -4.7 priorBest reading since April 2022New orders 9.4 versus -7.9 priorShipments 17.9 versus 0.3 priorUnfilled orders 2.1 versus -7.4 priorDelivery times -1.1 versus -3.2 priorInventories 0.0 versus -10.6 priorPrices...
ECB’s Lane: Incoming data on wages and profits have been in line with expectations
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,...
ForexLive European FX news wrap: Dollar pinned lower as markets suit up for Fed week
Headlines:Markets:USD lags on the dayEuropean equities mixed; S&P 500 futures down 0.1%US 10-year yields down 0.5 bps to 3.643%Gold up 0.2% to $2,581.04WTI crude up 1.0% to $69.36Bitcoin down 0.8% to $58,663There weren't any headlines that really stood out on the...
USDCAD Technical Analysis – Stuck in a tight range
Fundamental OverviewLate Thursday, around 1:00 PM ET, WSJ’s Timiraos published an article which seemed suggesting that a 50 bps cut was still being discussed. The market responded by raising 50 bps cut probabilities to around 40% from 13% before the news. Nick...
ECB’s Kažimír: Will almost surely wait until December for next rate cut
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,...
Dollar remains pinned down to start the new week
The greenback is the laggard in trading today and is being pushed lower in European morning trade. USD/JPY is the standout as it nudges under the 140.00 mark but it's not the only pair on the move. GBP/USD is up 0.5% to near 1.3200 and AUD/USD also up 0.5% to 0.6740...
Eurozone July trade balance €21.2 billion vs €22.3 billion prior
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 Technical Analysis – The USD weakens on higher chances of a 50 bps cut
Fundamental OverviewLate Thursday, around 1:00 PM ET, WSJ’s Timiraos published an article which seemed suggesting that a 50 bps cut was still being discussed. The market responded by raising 50 bps cut probabilities to around 40% from 13% before the news. Nick...
ECB’s de Guindos: Our projections show inflation will hover around 2% by end of 2025
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,...
Italy August final CPI +1.1% vs +1.1% y/y prelim
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,...
SNB total sight deposits w.e. 13 September CHF 466.8 bn vs CHF 455.9 bn prior
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,...
Market Outlook for the Week of 16th – 20th September
A busy week lies ahead in terms of economic events, but Monday kicks off slowly with no significant scheduled releases. On Tuesday, the highlight will be the Canadian inflation data, followed by the U.S. retail sales m/m figures. Wednesday brings inflation data from...
Gold Technical Analysis – We finally got the breakout
Fundamental OverviewLast Thursday, we finally got the breakout in gold after a softer than expected US PPI report. That was kind of a strange move but eventually the momentum picked up and we got the rally into new all-time highs. Late Thursday we have also got WSJ’s...