Market moves:WTI crude oil down $1.20 to $67.10US 10-year yields down 2.9 bps to 4.15%Bitcoin up $2544 to $101,540Gold up $1 to $2633S&P 500 up 0.2%JPY leads, AUD lagsThe theme all week is that it's been tough to tie market moves to economic news/data and today...
US equity close: Another day, another record
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,...
The Fed blackout begins at midnight
Federal Reserve officials are barred from commenting on monetary policy from midnight Friday until after the December 18 FOMC decision. Given the late date for the final FOMC meeting, it could be quiet for the remainder of the month as the Christmas doldrums will...
Morgan Stanley: Tactical FX views on USD, EUR, and GBP
Morgan Stanley shares a tactically bullish stance on the USD, citing strong US data and trade policy risks. The EUR faces headwinds from weak domestic growth and tariff-related risks, while the GBP benefits from fiscal-driven growth and high rate differentials.Key...
Tough week for oil as OPEC+ actions fail to deliver gains
WTI crude oil weeklyWTI crude oil settled lower by $1.10 to $67.20 in the second day of selling following the OPEC+ decision to delay barrels through Q1 and bring them on more-slowly afterwards.Oil is still within the range of the past month but is dangerously close...
What’s coming up on the US economic calendar for the second week of December
Powell checks the calendar (AI image)This week ahead includes CPI and PPI and with some notable Treasury auctions. The Fed goes into blackout at midnight on Friday so it will be considerably quieter on that front. The FOMC decision is December 18.Here’s a day-by-day...
Canadian employment headline strength masks weakness underneath. Expect 50 bps – CIBC
CIBC is out with a review of today's Canadian jobs report:Despite strong headline job numbers, the underlying details were mostly negativeThey cite: Largely public sector job gains, highest unemployment rate since 2016, wage growth lowest since June 2023The weakening...
Fed’s Daly: The labor market remains in a good place, is balanced
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,...
Fed’s Goolsbee: Hope the Fed will get the to range of neutral by the 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,...
Bitcoin busts back above $100,000
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,...
Hammack Q&A: ‘Really focused’ on getting inflation back to target
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,...
Fed’s Hammack: We are ‘at or near’ the time to slow rate cuts
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,...
MUFG Trade Of The Week: We go long USD/CAD
USDCAD weekly chartMUFG Research added a long USD/CAD position to its ToTW portfolio targeting a move towards 1.4550, with a stop at 1.3850."We are recommending a new long USD/CAD trade idea. We still see room for the CAD to weaken further against the USD heading into...
European equity close: German DAX flat today but up 3.8% on the week
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,...
Fed’s Goolsbee: On average it feels like the jobs market cooling from a very hot level
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 dollar rebounds after non-farm payrolls. What’s driving it
The US dollar has recouped the non-farm payrolls declines and -- in most cases -- even more.EUR/USD is down to 1.0560 from a high of 1.0630.EUR/USD 10 minsI think -- or at least hope -- that most of this is on a deeper dive into non-farm payrolls. You essentially have...
UMich December prelim consumer sentiment 74.0 vs 73.0 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,...
Tech sector powers up: Tesla and Microsoft lead the charge
Stock heatmap by FinViz.com Fri, 06 Dec 2024 14:46:08 GMTSector Overview: A Mixed Bag with Tech Taking the LeadThe US stock market today presents a dynamic picture, highlighted by notable movements across various sectors. The technology sector shines, driven by gains...
USD/CAD rises above 1.41 as a jumbo Bank of Canada rate cut nears
The headline Canadian jobs gain was a positive surprise today but digging into the details tells a different story. Virtually all the job gains were in government jobs and the unemployment rate rose to 6.8% from 6.6% in another jump in population estimates.Canada...
Fed’s Bowman says she does not take a dissenting vote on policy lightly
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,...