Wall Street Journal's Nick Timiraos is out with a tweet saying:A very solid September payroll report probably takes a lot of the drama out of the November Fed meeting Likely leaves officials on course for a 25 basis point cut.Looking at the probability of a 25 basis...
US major indices close the day higher helped by strong jobs
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USDJPY breaks higher this week and extends above the 38.2% of move down from July 3 high
As the week comes to a close, the USDJPY is trading near the highs for the day and the week. The move to the upside today off the unexpected US jobs report, was able to take the price above a key swing area ceiling around the 147.33 level and also above the 38.2%...
The EURUSD had moved lower to the next target support, setting the levels for next week.
As we head into the close, the EURUSD is trading near lows for the week. The strong US jobs data today helped to push the pair below a swing area between 1.1001 and 1.1014, and also the 50% midpoint of the move up from the August 1 low at 1.0995. That area will now be...
White House economic advisor Brainerd expects impact on employment from hurricane Helene
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Oil prices move lower after present Biden says he woul not support striking an oilfield
Crude price have moved lower after Pres. Biden said that he would think about other alternatives to striking Iranian oil fields. The high price of oil reached $75.53. It is currently trading at $74.22. That's still up around $0.50 on the day.Crude oil is now settling...
REUTERS: US military carries out strikes against multiple Houthi targets in Yemen
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NZDUSD continues lower today. RBNZ 50 BP cut expected next week.
The RBNZ will meet next week and expectations are a 50 basis point cut (they meet on Wednesday in NZ). The fall today and the price below a swing area between 0.6167 and 0.61796. That area will now be close resistance. On the downside the 100 day moving average comes...
Israeli army is preparing to expand its operation in southern Lebanon
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Baker Hughes oil rig count -5 at 479
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The AUDUSD is lower and below a key downside target.What next for today and going forward
The AUDUSD moved sharply lower in US trading today on the back of the stronger US jobs report. The move lower took the price below the 38.2% retracement of the move up from the September 11 low at 0.6819 and also the rising 100 bar moving average on the 4-hour chart...
USD/JPY nears 149.00 as ten-year yields near 4%. Watch both
US 10 year yields dailyIt looks like Treasuries want to test 4%.Back-tracking a few weeks, the 3.6% level was a recession trade but with the US economy looking stronger now, it's safer to price the bottom of Fed funds at 3% or 3.50%. Add in some term premium and 4%...
European equity close: Decent finish but down on the week
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JPMorgan now sees the Fed cutting by 25 basis points
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Bank of America now sees Fed cutting 25 bps in November from 50 bps
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The USDCAD runs higher after the US jobs report.What next technically for traders ?
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More from Goolsbee: Will have discussions about what rate we need to ultimately settle on
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USDCHF breaks out. The pair surges outside the “Red Box” after stronger US jobs report
The US jobs report has sent the USDCHF, finally outside of the up and down trading range that has mostly confined the pair between 0.8399 and 0.85368. The price was trading near 0.85166 ahead of the report, and has now surged up to 0.8607. At the high, the price has...
Fed’s Goolsbee: This is a super jobs report
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This was the early tell in the recession reversal trade
Economic forecasting isn't easy.At various points over the last two years it looked like the US was slowing down dramatically. At the start of 2023, a looming recession call was the consensus forecast. This year, as some economic indicators deteriorated, those calls...