Markets:Gold up $33 to $2323WTI crude oil up 14-cents to $86.73US 10-year yields up 8.1 bps to 4.39%S&P 500 up 57 points to 5204USD leads, CAD lagsAs we wind down the day, the FX changes are small but that doesn't tell the whole story.The US dollar jumped 40-50...
Cracks in the Canadian economy are widening – CIBC
Canada employment chart March 2024Canada's jobs report showed a decline of 2.2K jobs in February, worse than the +25K reading expected. The headline is even worse than it looks when you consider runaway growth in Canadian immigration that led to a rise in the...
US February consumer credit outstanding +14.12B vs +15.0B 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,...
WTI crude oil posts the first weekly close above $90 since October
Oil cooled somewhat into the close after hitting the best levels in five months an hour earlier. I think those buying oil on a potential Iran-Israel war are taking an unnecessary risk in betting on an unknowable outcome. In general, the best trade is to fade war fears...
The Wirecard saga has hit new levels of crazy
The Wirecard saga is one of the most-insane things to ever happen in financial markets.It was the darling of the German stock market and when the FT started to poke around at signs of fraud, the German government banned short selling. In a journalism Hall-of-Fame...
Gold jumps nearly $40 to a fresh all-time high
What a breathtaking run it's been in gold since the breakout at the start of March.Gold dailyWe're at fresh all time highs, up $37 to $2326 after an earlier dip to $2268 was run over. Gold is up in eight of the past nine days.There is no doubt that it's overbought on...
Bowman Q&A: Progress on lowering inflation has stalled
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,...
Biden administration takes aim at student loan forgiveness again – 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,...
Fed’s Bowman: It is not yet time for us to consider cutting rates
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,...
Watch out for the Fed’s Bowman shortly (update: Speech now at 12:30 pm ET)
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 Tiptoes Towards Bullish Breakout after Strong US Jobs Data. What Now?
Most Read: Trading EUR/USD, USD/JPY, and GBP/USD: Strategies for the Most Liquid FX PairsUSD/JPY advanced on Friday (+0.22% to 151.60), inching closer to horizontal resistance at 152.00 after strong U.S. jobs data boosted U.S. Treasury yields across the curve. For...
Tesla gives up on plans to build a low-cost car – report
Elon Musk has long said that the holy grail of popularizing EVs was coming from Tesla with a car that would cost as little as $20,000.That dream now appears to be dead. Reuters reports that Tesla has cancelled plans for a low cost car.Shares of Tesla are down 3% and...
Fed’s Logan: It’s much too soon to think about cutting interest rates
Fed's LoganThese are certainly not dovish comments.Believes it is "much too soon" to think about cutsNeed to see more of the uncertainty resolved about which economic path we're onFOMC should remain prepared to respond appropriately if inflation stops...
Hezbollah leader talks tough after Israeli strike on Iran’s consulate. Gold spikes
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,...
Magnitude 5.5 earthquake hits New York City
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,...
Top Questions to Ask During a Financial Expo
Financial expos are valuable opportunities for professionals in the industry to network, learn, and explore new developments. Attending these events can provide numerous benefits for individuals and businesses alike. When attending these events, it's essential to ask...
BTFD is back on the menu. US stocks at the highs of the day
AI imageThere weren't many dark clouds in the March non-farm payrolls but the market increasingly sees strong economic data as Fed put, rather than something that will lead to cuts. The market has decided that it can tolerate Fed funds at 5.25-5.50% and so long as...
White House’s Brainard: I think this is a very encouraging 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,...
Fed’s Barkin: That’s quite a strong 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,...
US stocks give up some gains following the jobs report but still poised for higher open
ES1 - 10minsThe market reaction to non-farm payrolls isn't as bad as many feared. Some of that is the market taking-back the Israel-Iran fears yesterday but there's also a changing undercurrent about the real source of US jobs growth in the past year.Jason Furman,...