Deutsche Bank economists suggest that if the U.S. August payroll report on Friday shows an unemployment rate of 4.2% or 4.3% with job gains between 130,000 and 150,000, it would likely reinforce market expectations for a 25-basis point rate cut by the Fed on September...
Chile’s central bank has cut its benchmark rate to 5.5%, from 5.75%
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,...
Bank of America cut its 2024 China GDP forecast to 4.8%
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,...
Friday’s NFP result could prompt a 50bp rate cut by the Federal Reserve
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,...
MUFG expects USD/JPY to fall to 141.00 by Q4
In summary from an MUFG outlook:MUFG Bank suggests that the Japanese yen might strengthen further against the dollar, as the Federal Reserve is expected to begin cutting interest rates in September, while the Bank of Japan may raise rates again later this year....
“Gold has been lower in 10 of the last 11 Septembers”
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,...
Forexlive Americas FX news wrap: Ugly day for risk assets
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 in Asia Wednesday, September 4 – Australian Q2 GDP and another China PMI
Australian Q2 GDP is expected to eke out a small gain:+0.3% q/q expected+1.0% annualThe 'partials' this week have been lacklustre:inventories negative, to detract 0.3%business profits and capex weak (falling)net exports +0.2% contribution but well under estimatesSaved...
Trade ideas thread – Wednesday, 4 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,...
Ugly day to start the month of September in US equity market
The major US stock indices had an ugly day to start the new trading month. The NASDAQ index led by Nvidia and other chip stocks stumbled and tumbled. The index had its worst trading day since August when the index fell -3.43%:A look at some of the chip stock...
The drop in Nvidia shares today is the largest-ever destruction of market cap
Shares of Nvidia fell 9.5% today as the market frets about slowing progress in AI.There were worries last week after earnings but shares of Nvidia steadied after nearly a dozen price target boosts from analysts. But that would only offer a temporary reprieve as a...
Some signs of a better risk mood but not in stock markets
Time is ticking down on US equity trading today but there are some signs of slightly better risk appetite elsewhere.Bitcoin held the earlier lows and is now at the best levels of the US afternoon.BTC 5 minsThe euro and pound are also getting a slight lift from the...
NZDUSD falls helped by risk-off,commodity selling, slower growth.What about the technical?
The NZDUSD is trading to new lows as traders react today to risk-off sentiment as stocks/commodities slide. Concerns about growth in the US and CHna iare weighing on the pair. Recall from last week, the NZDUSD peaked on Thursday after a surprise ANZ Business...
What’s priced in for the Federal Reserve at the start of September
That line from Federal Reserve Chairman Powell, uttered at Jackson Hole looms large in market pricing this week and going forward. The takeaway is that they don't want to see unemployment rise meaningfully, or perhaps at all.Financial conditions are worsening to start...
USDJPY bounces off the 200 hour MA and 100 hour MA too
The USDJPY is bouncing after starting the US session with a move below 100 hour MA and 50% retracement of the August range when both were near 145.53. The momentum continued down to the 200-hour MA near 145.21. The low reached 145.12 but ran out of downside momentum...
No bottom for stocks yet, Nasdaq extends fall to 2.6%. What is the bear/bull case?
Nasdaq dailyThe Nasdaq Composite is now down 2.6% with Nvidia acting as an anchor with a 7.9% decline.The chart doesn't look great here as it never really approached the old high and looks like it's on the way to some consolidation, in what's a tough month seasonally....
EURUSD trades back to session lows and below 38.2% retracement
The EURUSD rebounded on the back of the yield declines at the start of the US session, but has reversed to the downside after the pair tested the highs from yesterday and the 100 bar MA on the 4-hour chart at 1.10712. The US session high reached 1.1068 just 3 pips...
Euro falls to the lowest since August 18
EURUSD dailyThe euro is struggling today as the US dollar gains broadly on a painful turn in the risk trade.What looked like a breakout to a one-year high only a week ago is now looking suspect. The euro easily fell back below the December highs and took out 1.1050...
BofA: USD/CAD Outlook Ahead of September BoC Meeting
USD/CAD dailyBofA anticipates the Bank of Canada (BoC) will cut the overnight rate by 25 basis points in its September 4 meeting, bringing it to 4.25%. Despite CAD's recent rally, the currency is not expected to move significantly post-meeting, as it is nearing its...
Nvidia testing/breaking its 100 day moving average. Microsoft also testing a key MA level
Nvidia shares are currently trading down $-9.02 or -7.56% at $110.37. That is right at its 100 day moving average at $110.36. The low price did reach $109.40 below that moving average. BearishThe current decline is on pace for its worst trading day since April 19,...