Analysts at MUFG say that it will be important that the data remain consistent with slowing inflation to support current Federal Reserve interest rate cut expectations.What arguing that one month of stronger inflation data in August would not stop the Fed from cutting...
Goldman Sachs says US stock market may decline by year-end, but no bear market
Goldman Sachs says that the US stock market may fall by the end of the year, citing the drag from: high valuations mixed growth prospects policy uncertainty But, say analysts, the probability of a bear market is low given the support for the economy from a healthy...
ICYMI – Bank of Japan officials see little need to raise the benchmark rate at Sep meeting
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,...
Oil – private survey of inventory shows a headline crude oil draw vs. build 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,...
Forexlive Americas FX news wrap: Oil settles at the lowest since 2021
Markets:Gold up $11 to $2516WTI crude oil down $2.58 to $66.13US 10-year yields down 5.1 bps to 3.65%S&P 500 up 0.45%JPY leads, CAD lagsUSD/CAD was particularly strong as Macklem's comments suggested an effort to put a 50 bps cut on the table for the October...
US stocks close mixed on the day. Broader indices higher led by the Nasdaq index.
The broader stock indices closed higher for the second consecutive day this week. The gains were led by the Nasdaq index which tumbled -5.77% last week. After 2-days this week, the index is up 2.01%. The S&P which fell -4.25% last week, is up 1.61% after Monday...
Economic calendar in Asia 11 September 2024 – Reserve Bank of Australia speaker
We have Sarah Hunter, Assistant Governor (Economic) at the Reserve Bank of Australia speaking today. I've added it to the screenshot below, and I posted a little on what to listen out for earlier:After Hunter the calendar gets very bleak ... why do I always get to...
Trade ideas thread – Wednesday, 11 September, insightful charts, technical analysis, ideas
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,...
Canadian dollar headed lower as a deeper rate cut cycle looms
The Canadian dollar is the weakest performer today and if you read between the lines in Tiff Macklem's comments, the Bank of Canada is trying to put the possibility of a 50 basis point cut in October on the table, particularly if upcoming GDP reports highlight ongoing...
Yen, oil and bonds all flag trouble
In the long-running battle between stocks and bonds, the latter is usually right when it comes to the economy. Given that oil and the yen are also flagging trouble, the signs are hard to ignore.In early August, when US yields fell, it looked like a reaction to a...
USDJPY follows yields lower
The US yields are trading at new session lows. The two-year is trading at 3.598%. That's the lowest level going back to March 2023. The 10 year yield is an 3.642%. That's its lowest level going back to June 2023.The low in yields has the USDJPY also extending back...
When the copper-tunity comes knocking
CopperDr. Copper hasn't been in a good mood since May, when a speculative squeeze drove it to $5 followed by a sharp turn lower. It's currently flirting with $4 as the market frets about a global growth slowdown.Given the price action in bonds, JPY and oil, I think a...
US CPI preview: Inflation expected to fall to the lowest since 2021
As inflation in the US ramped and then rolled over, it was typical to get massive market moves on CPI data but as prices have cooled, so has the market reaction. Unfortunately, the magic is gone -- and now rests with non-farm payrolls as the Fed focuses on its...
US Treasury auctions $58B of 3 year notes at a high yield of 3.440%
High Yield:3.440%Previous: 3.81%WI Level at the time of the auction: 3.457%Tail: -1.7 bsPrevious: -0.2bpsSix-auction average: 0.1bpsBid-to-Cover: 2.66XDealers:10.45%Directs (a measure of domestic demand):11.3%Indirects (a measure of international demand):78.24%AUCTION...
US treasury to sell $58B of 3-year notes at the top of the hour
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,...
NZDUSD rebounds after testing 38.2% retracement and finding support buyers
After a trend-like move like we saw to the upside in August, the price of the NZDUSD has been correcting lower over the last 9 or so trading days. The price action on Friday after the US jobs report saw a spike higher to swing area resistance at 0.6253, but then...
European equity close: On the backfoot
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,...
Bank of Japan officials see little need to hike rates
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,...
Morgan Stanley sees the euro falling to 1.02 this year as the ECB cuts deeper
EUR/USD dailyThe street-low year-end forecast for the euro is 1.02 from Morgan Stanley. G10 FX strategist David Adams spoke in an interview with Bloomberg today highlighting the call.“There is plenty of scope for the market to refocus on the fact that the ECB could be...
AUDUSD sellers are banging against a cluster of support. Can the sellers push through?
The AUDUSD yesterday moved down to test a cluster of support defined by the 200 bar moving average on the 4- hour chart,100 day moving average, and the 38.2% retracement of the August trading rangeAll those levels come between 0.6642 and 0.66499 (call it 0.6650)....