I posted earlier in the week on Bullock speaking today. ICYMI, she is speaking twice:At noon local time, Bullock will address The Anika Foundation, Sydney0200 GMT, 2200 US Eastern time (Wednesday evening)At 7 pm Sydney time Bullock will speak in a Fireside Chat...
US President Biden is scheduled to speak on economic policy on Thursday
With the presidential campaign in full swing there will be plenty more of this. Biden to speak at 4pm US Eastern time on Thursday, September 5, 2024. If he is discussing policy plans ahead it'll be in regards to Harris' electioneering. Around 60 days to go until the...
TD see signs of hope for oil price bounce – says peak algo selling appears to have passed
In summary from a note via TD on the crude oil market. TD argue that algorithmic trend-following strategies are unlikely to worsen the current downturn in crude markets, following a recent modest sell-off amounting to -6% of their maximum position size during the last...
“Persistent” inflation in the US is on the rise – argues against a 50bp FOMC Sep rate cut
This tweet from the Wall Street Journal's Fed-watcher Nick Timiraos:While the data is for July (with an upwardly revised June result thrown in) it was published by the Fed on September 3. If you are familiar with this inflation measure, this rise offers another reason...
Forexlive Americas FX news wrap 4 Sep: Concerns about job weakness sends the USD lower
The Bank of Canada cut rates by 25 basis points to 4.25% from 4.5%. That was the odds on favorite but there was some hope for a full 50 bp cut. On the Global economy, the statement said:Global economy grew by approximately 2.5% in Q2.U.S. growth stronger than...
Citi says Brent crude oil could fall as low as $50 / barrel
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 much larger than 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,...
A mix day for US stocks in up and down session
The major US indices are closing the day mixed. The Dow industrial average of 30 stocks closed higher. The broader S&P and NASDAQ indices of closed higher. The final numbers are showing: Dow industrial average rose +38.04 points or 0.09% at 40,974.98S&P index...
Economic calendar in Asia – Reserve Bank of Australia Governor Bullock is speaking, twice
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,...
Trade ideas thread – Thursday, 5 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,...
Dem nominee Harris capital gains tax plan to go to 28% if you make $1M or more
Democratic presidential candidate Harris says if earn more than $1 million, the capital gains tax rate will be 28%. The long-term capital gains tax rates are 0 percent, 15 percent and 20 percent, depending on your income. The higher rate is for those who earn over...
USDJPY moves to a new session low for the day. Looks toward the lows from last 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,...
Could we be on the brink of another breakdown in USD/JPY?
Today's JOLTS report put a 50 basis point Fed cut squarely back on the table, along with the idea that the US won't be able to sustain high rates. That's causing a rethink in the spread for US rates over Japan and has led to a second day of of heavy selling in...
Citi says a 50 basis point Fed cut in September is likely
There is an interesting dynamic this week with non-farm payrolls on Friday and the FOMC blackout period starting Friday at midnight. If the jobs report is middling, it doesn't leave much time for officials to signal that a 50 basis point cut is likely. Of course, they...
US stocks start to move lower again
The US major indices are moving lower again with the NASDAQ index down -0.31%. The S&P index is down -0.29%.The major indices opened lower today but then rebounded intraday. The NASDAQ index traded up 96.35 points at session highs, while the broader S&P index...
OPEC+ lifeline falls flat, WTI settles down $1.14
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,...
Beige Book: Economic activity flat to slightly down in most Districts
Beige BookThe Federal Reserve's latest Beige Book report paints a picture of an economy that's treading water, with slight growth in some areas offset by declines in others. Economic activity grew slightly in three Districts, while nine reported flat or declining...
Biden prepares to block Nippon Steel acquisition of U.S. Steel – report
US President Joe Biden is preparing to block the Nippon Steel acquisition of U.S. Steel, sources tell the Washington Post.Shares of US Steel (X) fell about 6% before being halted.President Joe Biden is preparing to announce that he will formally block Nippon Steel’s...
Canada’s Trudeau says he hopes opposition can focus on delivering for Canadians
After nine years in office, Justin Trudeau's Liberal government is well-past its prime. Trudeau was asked about the NDP withdrawing its formal support for the Liberals today:Asked whether he will call an early election, says he is not focused on politicsSays he hopes...
Israeli PM Netanyahu: It is a possibility of reaching a Gaza cease-fire deal
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,...