Notes that a downside risk in GDP was a revision to GDIInstead, GDI was revised higherFed not in a hurry to cut rates quickly, will be guided by dataRate cut process will play out 'over some time' with no need to go fastFed will take everything into account at Nov...
Powell: Policy will move over time to neutral if economy meets forecasts
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Watch live: Powell speaks on the economic outlook
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,...
Goldman Sachs highlights the case for an undershoot in US inflation
Goldman Sachs is out with a note today highlighting downside inflation pressures from oil. I've been writing about this for awhile, noting that oil is trading more than $20 below where it was at this time last year, adding a powerful drag for crude.Looking out...
Fed Goolsbee worried about the possible continued port shutdown. Case for rate cuts clear.
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EURUSD extends to new lows for the day and back below MA support levels
The EURUSD up and down volatility continues. After trading near the 100-hour moving average (blue line in the chart below) in the Asian/Pacific session, the price moved sharply higher. In the process the pair moved above the swing level from Friday's trade just above...
Fed Pres. Bostic: Is open to another 50 bp cut if labor market shows continued weakness
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USD/JPY chips away at Friday’s losses as the reversal continues
USDJPY dailyThe Japanese political situation has been high drama in the past week.On Friday, Japan's LDP opted not to pick a dovish leader of their party, causing a big drop in USD/JPY. That was followed by a snap-election call from incoming PM Ishiba.The vote will...
AUDUSD & NZDUSD supported by China stimulus/risk-on flows. Pairs make new highs for year
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Israel defense minister: The next phase of the war will begin soon
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US believes Israel could imminently launch a more limited ground incursion in Lebanon
CNN reports that Israel could imminently launch a ground incursion into Lebanon. However the report says that following discussions with the US, the incursion could be more-limited than what Israel initially planned.I would take this all with a grain of salt as many...
USDCAD defines close support and resistance to start the new trading week.
The USDCAD moved up on Friday and stalled at the falling 200-hour MA. Today, the price did move above that falling MA (it was lower today), but stalled near the high from Friday, and below the 50% midpoint of the September trading range (at 1.35328). Those are the...
China delivers on plege to lower downpayments for homes
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Dallas Fed September manufacturing index -9.0 vs -9.7 prior
Prior was -9.7Output (production) -3.2 vs +1.6 priorNew orders -5.2 vs -4.2 priorEmployment +2.9 vs -0.7 priorOutlook -6.4 vs -9.6 priorPrices paid for raw materials +18.2 vs +28.2 priorPrices received +8.4 vs +8.5 priorWages +18.5 vs +22.0 priorThis is a neutral...
Why gold isn’t thrilled about the China stimulus news
Gold is a laggard today, falling $27 to $2630.It's only a 1% drop and comes after a massive rally but it's worth considering gold right now in light of what's happening in China.gold dailyI've made this point a couple times in the past week or so: China has been the...
USDCHF bounces off key support floor near 0.8400. What next?
The USDCHF moved down on Friday and once again moved closer to the low of the up and down swing area that has confined most of the trading going back to around August 20. The low for that swing area comes in near 0.8400, and on Friday and again today, that area was...
ECB’s Lagarde: Next inflation reading likely to be below baseline
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Tech stocks mixed: Apple shines while semiconductors slide
Stock heatmap by FinViz.com Mon, 30 Sep 2024 13:46:02 GMTToday's stock market heatmap reveals a dynamic landscape, with notable shifts across key sectors. Despite some pressures, distinct trends are emerging that could shape investment strategies.📊 Sector...
US stocks trade mixed to start the new week and end of the quarter
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Kickstart the FX trading day for Sept 30 w/a technical look at EURUSD, USDJPY and GBPUSD
Kickstart the FX trading day with a technical look at the major currency pairs - the EURUSD, USDJPY and GBPUSD. The EURUSD has been trading up and down over the last few trading days. What is somewhat unique to today's price action, is that the price is trying to stay...