Key Square performanceWhen people in markets found out that fund manager Scott Bessent was a leading candidate for Treasury Secretary, the natural question to ask was: How good was he?His fund was Key Square Capital and I searched hard for his returns when his name...
USD selling pushes the USDCHF lower but the 100/200 hour MA is stalling the fall
USD selling has pushed the USDCHF below a swing area between 0.8880 and 0.8992 (call it 0.8900). That comes after a sharp rise in Friday which took the price above technical target.The fall below the swing area is given sellers some comfort after the sharp rise of...
Israel and Lebanon agree to terms of a ceasefire – report
A senior U.S. official told Axios that Isreal and Lebanon have agreed to the terms of the ceasefire.Oil is declining on this, though I don't see it as a big surprise. The Israeli Security Cabinet is expected approve the deal on Tuesday."We think we have a deal. We are...
Belgian business confidence -11.1 vs -12.8 prior
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It’s all about Scott Bessent today. Five things to know about the incoming Treasury Sec
Market moves today are dominated by repositioning after Trump nominated Scott Bessent to lead the Treasury Department. The US dollar is weaker, Treasury yields are lower and stock futures point to new records.Some quick thoughts:1) One of us!One of us! One of us! One...
Chicago Fed November national activity index -0.40 vs -0.28 prior
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USD is lower to start the new trading week. Stocks higher. Yields Lower
The USD is lower. US stocks are higher in pre-market futures trading. US yields are lower. The market is approving of the naming of Scott Bessent the new Treasury Secretary. Bessent won the battle that was whittled down to Kevin Warsh and Marc Rowan after Howard...
OPEC+ reportedly set to hold December meeting online
There were already some murmurs about this since Friday, so this just adds credence to the notion. As a reminder, OPEC+ will be discussing oil output policy next on 1 December i.e. this coming weekend. OPEC+ had already said that they would delay the planned start to...
ForexLive European FX news wrap: Dollar holds lower after opening gap down today
Headlines:Markets:EUR leads, USD lags on the dayEuropean equities mixed; S&P 500 futures up 0.4%US 10-year yields down 4.1 bps to 4.368%Gold down 1.0% to $2,684.93WTI crude down 0.1% to $70.71Bitcoin up 0.2% to $98,195There wasn't much action in European morning...
Global oil market overview and what lies ahead for investors by Octa Broker
As a critical resource in the global economy, oil is integral not only to the energy sector but also to industries such as transportation, manufacturing, and agriculture. Changes in its prices impact inflation rates, production costs, and global trade. For instance,...
Copper Technical Analysis – The sentiment remains mixed
Fundamental OverviewCopper continues to have a hard time as the market demands more stimulus from the Chinese officials to stimulate growth more strongly. Copper has been tightly correlated to the Chinese stock market in recent years which just shows the strong...
BOE’s Dhingra: UK no longer looks like an outlier for inflation among advanced economies
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,...
BOE’s Lombardelli: We remain focused more on services prices and wages
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,...
Crude Oil Technical Analysis – We are approaching the top of the range
Fundamental OverviewCrude oil remains confined in a range between the 72.00 resistance and the 67.00 support as the market continues to weigh the future scenarios. On one hand, we have the Trump’s victory which might be seen as bearish in the short term for fear of...
BOE’s Lombardelli: I support a gradual removal of monetary policy restriction
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,...
Germany November Ifo business climate index 85.7 vs 86.0 expected
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SNB total sight deposits w.e. 22 November CHF 459.4 bn vs CHF 463.4 bn prior
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,...
Market Outlook for the Week of 25th – 29th November
The week ahead features several key economic events to watch. On Tuesday, the U.S. will release the CB consumer confidence index, new home sales, and the Richmond manufacturing index, providing updates on consumer sentiment and economic activity. Wednesday’s attention...
Please mind the gap..
The greenback is recovering losses to start European morning trade, as it starts to chew into the opening gap lower today. USD/JPY is now up to 154.60 levels, just a few pips shy of closing its opening gap lower:USD/JPY hourly chartBesides that, the commodity...
Gold Technical Analysis – The Treasury Secretary pick weighs on the market
Fundamental OverviewGold saw a quick drop today during the Asian session with the news of Scott Bessent nomination for Treasury secretary as the most likely culprit. Bessent is a fiscal hawk, and the market views him as a great pick for the job. In fact, one of the...