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Markets:Markets closed for Good FridayFX essentially unchangedA holiday throughout global markets usually makes for a quiet news day but that wasn't the case today with US PCE, Powell and some other odds-and-ends. The PCE report had something for everyone but there...

Goldman Sachs outlines its projections for the monetary policy paths of both the Federal Reserve and the European Central Bank (ECB) over the coming years. The firm expects the Fed to initiate a series of rate cuts starting in June 2024, eventually reaching a terminal...

Here is a great chart today from Jim Bianco who illustrates what will happen to year-over-year core PCE if it runs at 0.33% m/m, which is the two-year average.It also highlights that a series of lower numbers will roll off, particularly in June, July and August.The...

The question here is: Do you take comfort in the step down from January or do you worry that core inflation is still above 3%?One month annualized trimmed mean 3.4% vs 5.7% priorSix month 3.1% vs 3.0% prior12 month 3.1% vs 3.2% priorOne of the drivers of inflation...

I don't think this will come as a surprise to the oil market -- which is closed today -- but the EIA says the US crude production fell to 12.533 mbpd in January, a drop of 6% from December.A good portion of that was due to cold weather freezeoffs but it also...

This week, Chinese President Xi Jinping spoke with American executives on Wednesday in a bid to short up confidence in the economy. He said that his country was “healthy and sustainable" and listened carefully to concerns from the leaders of Blackstone, FedEx,...

I would be careful taking any signals from today's FX market moves but the US dollar dip after the PCE report is probably the right one.The key number from the report was the month-over-month core PCE reading. On the surface it matched the +0.3% m/m reading but...

Fed’s Bostic (hawk – voter) late Friday said that he changed his view and now expects just one rate cuts this year vs. two previously:Economy has proved more resilient than anticipated so much so that he's doubled his expected GDP growth estimate to 2%.Sees little or...

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,...

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,...

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,...

AI imageIt's Good Friday and that means that equities, bonds and futures are closed. Of course, the FX market isn't but it's thinned out in a big way, which means the PCE report at the bottom of the hour will land in a strange place.It's an important report and could...

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,...

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,...

USD/JPY weekly chartThe pressure is most definitely on for the Japanese yen as the Easter break approaches. The barrage of verbal interventions by Tokyo officials have helped to stem the bleeding in trading this week. But is merely just a band aid at this point in...