USD/JPY is falling on this report.USDJPY 10 minsAside from USD/JPY, the US dollar is broadly strong as Treasury yields continue to climb. US 10-year yields are up 7.5 bps to 4.72% -- the highest since November.While this report is good for the yen, it's also a drag on...
Fed rate hike pricing plunges after GDP data
Before today's US GDP report, the market was pricing in 41.5 basis points in Federal Reserve easing. Afterwards, it sees just 35 bps in cuts.The odds of a cut in July fell from roughly 50/50 to 34%. A cut isn't even fully priced in for November.The shifts are due to...
Stocks/bonds don’t like GDP inflation numbers.Stocks lower. Yield higher. US dollar higher
US stocks have added another like to that outside after US GDP came in weaker but the inflation measures were higher. The core PCE prices for the quarter rose 3.7% higher than the 3.4% estimate. That has investors worried about lower growth/ higher prices. Not good.In...
Canada Feb average weekly earnings 4.53% vs 3.88% prior
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US March wholesale inventory advanced -0.4% versus 0.4% (revised from 0.5%) last month
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Mayne Ayliffe Joins INFINOX as Global Head of HR
INFINOX is Delighted to announce the appointment of Mayne Ayliffe as the new Global Head of HR, based in the Dubai operations office, overseeing the Group's Human Resources function.Mayne is a seasoned HR professional with a decade of experience across the finance and...
US March advanced goods trade balance $-91.83 billion versus $-91.1 billion estimate
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US Q1 advance GDP +1.6% vs +2.4% expected
Weakest since Q1 2023Final Q4 reading was +3.3% annualized (revised to +3.4%)Q3 was +4.9% annualizedDetails:Consumer spending +2.5% vs +3.3% priorConsumer spending on durables -2.1% vs +3.2% priorGDP final sales 2.0% vs +3.9% priorGDP deflator 3.1% vs 3.0% expected...
US initial jobless claims 207K versus 215K estimate
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The first look at Q1 US GDP is coming up next
It's a busy slate on the US economic calendar today with Q1 GDP kicking things off along with initial jobless claims, advance goods trade balance for March, wholesale inventories and Canadian average weekly earnings.The consensus on GDP is 2.4% while the Atlanta Fed...
ForexLive European FX news wrap: Dollar, stocks down awaiting US GDP data
Headlines:Markets:AUD leads, JPY lags on the dayEuropean equities lower; S&P 500 futures down 0.6%US 10-year yields down 0.4 bps to 4.650%Gold up 0.6% to $2,329.53WTI crude up 0.1% to $82.22Bitcoin down 0.1% to $63,955There wasn't too much action in European...
Japan’s economy minister to attend BOJ policy meeting tomorrow
It is not commonplace for government officials to attend any central bank meeting, so this is definitely a peculiar one. But I guess it speaks to the delicate situation regarding the Japanese yen at the moment. The last time this happened was back in December last...
The Future of Real Estate: Investing in Tokenized Properties with Cryptocurrency
Real estate investment has long been a cornerstone of wealth construction, supplying balance, tangible property, and the potential for appreciation. However, the conventional real estate marketplace has frequently been characterized by boundaries to entry,...
UK April CBI retailing reported sales -44 vs 2 prior
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GBPUSD Technical Analysis – We are at a cluster of resistance levels
USDThe Fed left interest rates unchanged as expected at the last meeting with basically no change to the statement. The Dot Plot still showed three rate cuts for 2024 and the economic projections were upgraded with growth and inflation higher and the unemployment rate...
Stocks stay on the cautious side so far on the day
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IronFX Celebrates an Award-Winning Start to 2024
A global leader in online trading is celebrating a host of remarkable milestones already achieved in the first quarter of 2024 after being recognised for its services with a number of prestigious industry awards.The broker has further solidified its position as a...
GBP/USD bounces to two-week high, what levels to watch out for?
It has been quite the bounce in cable this week, after the poor showing on Monday especially. The pair moved down to test 1.2300 before rebounding by over 200 pips now to 1.2520 levels. Of note, buyers have turned the near-term bias in their favour and things might...
AUD/USD nudges higher to test key technical resistance again
And that is seeing AUD/USD buyers capitalise a little in pushing price back towards the 200-day moving average (blue line), seen at 0.6526 on the day. The pair saw price movement capped by the key technical level yesterday and here we are testing it again. As much as...
USD/JPY Breaches ‘Line in the Sand’ Ahead of BoJ Meeting
Japanese Yen (USD/JPY) AnalysisThe yen breaks into the danger zone ahead of the BoJ meetingUSD/JPY breaches line in the sandBoJ Governor Ueda still sees trend inflation below target, will the updated forecast bring the inflation objective closer?Elevate your trading...