There has been an impressive turn in US equity markets, particularly from the pre-market lows. Eminis are now up 24 points on the day and up 50 points from the daily lows.There isn't a clear catalyst for the move and there hasn't been any help from the bond market as...
U.S. Treasury auctions all $22 billion of 30 year bonds at a high-yield of 4.671%
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 30-year bonds at the top of the hour
The U.S. Treasury will auction off $22.0 billion a 30-year bond at the top of the hour. The six-month averages of the major components shows:Bid to cover 2.38XTail 0.8 basis pointsDirects (a measure of domestic demand) 16.4%.Indirects (a measure of international...
Nomura: There is no sense that the BOJ is going to intervene soon
The Nikkei is reporting that Nomura is saying that:despite a notably covered home from officials since late March as the Yen hovered above the 152 level, "there is no says that they are going to intervene anytime soon"The Mitsubishi Trust in banking added:The JPY...
ECB sources: We heard from Lagarde. What about the others? Expect to cut in June still.
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,...
Boston Fed Pres. (voting member) Collins: Economic uncertainty is elevated
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,...
Boston Fed Pres. Collins: Recent data argue against imminent need to change rates
Boston Fed Pres. Susan Collins is on the wires saying:Recent data argue against imminent need to change rates.Still expects rate cuts this year.May take more time for economy to moderate as needed.Economic strength may auger fewer rate cuts.Disinflation likely to...
AUDUSD corrects higher today, but into MA resistance where sellers lean.
The AUDUSD corrects higher today but into a cluster of MAs including the 100/200 bar MAs on the 4-hour chart and the 200-day MA. Although the price gets above the 200 day MA and the 100-bar MA on the 4-hour chart, it cannot extend above the 200-bar MA on the 4-hour...
ECB sources report: ECB policymakers still expect to cut rates in June
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,...
The US is approach tax day, why it matters for the stock market
Here is a good chart from Goldman Sachs illustrating daily seasonals in April. It's a sizzling month but the days up-to and including the US April 15 tax-filing deadline are sluggish. "Tax Day is a seasonal weak period, on the day by day chart, but April remains...
The USD is trading higher with the greenback making new highs vs EUR, GBP, CAD leading.
The decline in the US yields has now been retraced with the yields further out the curve, now up on the day again. 5-year yield 4.615%, +0.2 basis points10 year yield 4.572%, +1.2 basis points30-year yield 4.666%, +3.2 basis pointsThe U.S. Treasury will optional...
Gotta keep the Canadian ponzi scheme going
This extends amortizations from 25 years.Without home price appreciation and insane amounts of immigration, I'm not even sure Canada has a functioning economy.The new rules will apply to first-time homebuyers purchasing newly built homes via insured mortgages. The...
Canadian dollar falls to a four-month low. What’s next
A divergence in the Canadian and US economies is increasingly evident.Wednesday's Bank of Canada rate decision put a June rate cut squarely on the agenda while the US CPI report released on the same day may mean the Federal Reserve doesn't lower rates this year at...
EURUSD trades back to day lows and retests 61.8% retracement
The EURUSD has moved back to the downside after a modest rebound after US PPI and the Lagarde press conference. The ECB president did not rule out or endorse a June cut (data dependent). She did say, however, that the US and EU situations are different, which may give...
Williams Q&A: Core services ex-housing inflation falling faster than expected
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,...
USDCHF corrects lower but falls into support targets. Buyers stall the fall.
The USDCHF has corrected lower after tamer PPI data in the US this morning. The fall took the price of the USDCHF pair below the old swing high from earlier in April at 0.90949, but found support buyers again stay swing area at 0.90712. The ability to find support...
Fed’s Barkin: Inflation data did not increase my confidence that disinflation spreading
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 stock indices higher after PPI calms inflation fears
The major US stock indices are opening higher led by the NASDAQ and after PPI data came in modestly lower than expectations .The latest government reports show a mixed picture of inflation, with a discrepancy between the consumer and producer price indexes. While...
Understanding the Ongoing Gold Rally!
Gold has entered a remarkable rally mode since the beginning of February, surpassing previous record highs despite the strong US Dollar and Treasury yields. So far in April, the gold price has continued to set new record highs and briefly touched a high of $2365 per...
Higher opening is seen in US major indices
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,...