The USD was lower and the weakest of the major currencies today. The NZD is the strongest.There was little in the way of econonmic data (well nothing). The weekly oil inventory data showed a larger than expected build in oil inventories although gasoline and...
ICYMI – US President Biden calls for a tripling of tariffs on Chinese steel
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 to reimpose oil sanctions on Venezuela
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,...
Another down day for US stocks
The major US stock indices have another down day. The S&P and NASDAQ indices are now down for four consecutive days. A snapshot of the closing levels shows:Dow Industrial Average down -45.66 points or -0.12% at 37753.32S&P index down -29.18 points or -0.58% at...
ICYMI – Holzmann says geopolitical risk is the biggest threat to a potential ECB rate cut
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,...
Economic calendar Asia 18 April 2024 has 2 Fed speakers (Mester, Bowman) & AUD jobs report
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, 18 April, 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,...
ECBs Lagarde says exchange rates matter and it leads to a rotation higher
ECB's Lagarde said that:We monitor the exchange rateIt is obvious that exchange rates may have an impact on inflationThe truisms are not anything new, but given more illiquid afternoon markets, it did give a minor boost to the beaten down EURUSD. The move to the...
Japan’s Kanda: No change to our stance to take appropriate action on FX as needed
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,...
ECB Pres. Lagarde: Growth in Europe mediocre. Much slower than the US
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,...
Japan finance Minister Suzuki held bilateral meetings with Yellin
Japan's finance Minister Suzuki held bilateral meetings with us Treasury Secretary Yellen. At the meeting the two leaders:agreed to communicate closely on FXDiscussed Ukraine a MDB and global taxation.Will respond appropriately to excessive FX movesNeedless to say the...
Crude oil futures settle at $82.69
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,...
ECBs Nagel: A June cut is looking increasingly likely, but there is still some caveats
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,...
ECBs Centeno: First cut in June is very likely.Number of cuts will depend on incoming data
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,...
Deutsche Bank sees slower pace of BOE rate cuts
Deutsche Bank no longer sees the Bank of England cutting rates in May and instead views June as the start of the cycle. That will be followed by further cuts in Sept and Dec.The three cuts this year is unchanged but they now see the BOE slowing to a quarterly pace in...
Feds beige book: Contacts expect inflation would hold steady at a slow pace
The Fed's Beige book for April has been released:Below are the highlights of the overall economic activity report:Economic Expansion: Activity expanded slightly overall since late February, with 10 out of 12 Districts reporting slight to modest growth.Consumer...
US sells 20-year bonds 4.818% vs 4.843% WI
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,...
U.S. Treasury to auction off 20-year bonds at the top of the hour
The U.S. Treasury will auction off twenty-year bonds at the top of the hour. The auction results were compared to the six-month averages of the major components including the tail (the difference between the WI level vs the high yield), the Bid to cover (the number of...
US stocks extend their declines
The major stock indices are extending their declines with the NASDAQ index down near 1%.NASDAQ index is below the 38.2% retracementLooking at the daily chart of the NASDAQ index, it is now below the 30.2% retracement of the move up from the January low to the January...
Bitcoin trades below the $60,000 level for the first time since March 5
The price of bitcoin has moved below the 38.2% retracement of the 2024 trading range at $60,314 and has also moved below the $60,000 level for the first time since March 5. The low price has reached $59,672. The low price from March 5 came in at $59,313. That is the...