We had a red sweep in the US election. That's an outcome that was consensus bond bearish, on assumed larger deficits, inflationary tariffs and growth-boosting tax cuts.The initial reaction was about what you would expect, with 10-year yields rising 24 bps at the peak...
MUFG trade of the week: Short EUR/USD
EURUSD dailyMUFG Research added a short EUR/USD to its Trade of the Week portfolio. MUFG is short EUR/USD with a target at 1.0400, and a stop at 1.10."We are recommending a new short EUR/USD trade recommendation. We expect the EUR to weaken further against the USD in...
Baker Hughes oil rigs 479 unchanged on the week
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 USDCAD remains within an up and down range this week, with the bias tilting to upside.
The USDCAD remained (for the most part) this week in a range between 1.38337 on the downside and 1.3958 on the topside. The topside is defined by the high from last Friday and the high from the US election buying. Both those highs took out the August high at 1.3945....
S&P index reaches 6000 (but just barely so far)
The S&P 500 index has ticked to 6000 for the first time. The new milestone was reached at 6000.02. The current price is at 5998.02 up 24.87 points or 0.42%.. The index reached 5000 9-months ago on February 8, 2024Meanwhile the Dow industrial average is up 276.79...
AUDUSD has a up and down week, but the bias is lower going into the new week
The AUDUSD price action this week was up and down. The close from a week ago was at 0.6558. The current price is at 0.6562. Not a lot of change at the current level. However, in between, the price moved higher into the election. It moved lower with the dollar buying...
Celebrating the Success of Zircuit’s ZRC EigenLayer Fairdrop
Zircuit, the chain where innovation meets security, is thrilled to announce the success of its EIGEN Fairdrop initiative. With a first-of-its-kind distribution of 2% of ZRC tokens to eligible EIGEN holders, Zircuit has introduced a model of fairness and inclusivity in...
Trump asks Robert Lighthizer to run trade policy again
LighthizerUS President-elect Trump has asked Robert Lighthizer to run trade policy once again, according to the FT.The report says Lighthizer had been asked to return to the top trade role even though he had lobbied for a different position, including commerce...
European equity close: A chop so far as political questions loom
STOXX 600 dailyNot many markets are pricing in a big risk around Trump tariffs so far as it's viewed as more of a threat than a real risk. Meanwhile, Germany looks like it will head to an election around the idea of rising deficits or retaining the fiscal brake. At...
Some divergence is creeping in between stocks and FX
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,...
NZDUSD sellers in control as we head toward the new trading week. Key levels in play
The NZDUSD this week found support at the last swing low going back to August 6 at 0.5912, before ignitiing a run to the September high at 0.63778. The subsequent high reached yesterday, extended to another key area. The swing area at 0.60313 to 0.60443 stalled the...
Expect a massive US import boom in the next 73 days
What do you do if you're a US importer right now? Particularly if you're importing goods from China?Stockpile, obviously.The market has so far dismissed the chance of 10% across-the-board US tariffs and 60% tariffs on China but some level of China tariffs is highly...
EURUSD ticks lower. Moving away from swing area between 1.07609 to 1.07767
The EURUSD is ticking lower in the US session and in the process is moving away from a swing area between 1.07609 and 1.07767. Staying below below that area keeps the buyers firmly in control. It is a close risk for sellers/traders.The Federal Reserve cut rates by 25...
UMich November prelim consumer sentiment 73.0 vs 71.0 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,...
Mixed start to the trading day. NASDAQ marginally lower.
The US major indices are trading marginally higher to start the final day of the trading week which included a presidential election and Federal Reserve interest rate cut.The markets are cheering the Pres. Trump victory with solid gains this week. There may be a...
US stocks will need some post-opening help to keep the winning streak going
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 kickstart FX video takes a look at the 3-major currency pairs AND USDCAD after jobs.
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 optimism in the Chinese market yesterday was baffling
I don't know what people were thinking with the Chinese market and global growth trades yesterday.They rallied huge yesterday despite Trump winning the election. The hope -- evidently -- was that Beijing was going to deliver larger stimulus.The thing is, the stimulus...
Canada October employment change +14.5K vs +25.0K expected
Prior month +46.7KUnemployment rate 6.5%vs 6.6% expected (prior 6.5%)Full-time employment +25.6K vs +112.0K priorPart-time employment -11.2K vs -65.3K priorParticipation rate 64.8% vs 64.9% priorAverage hourly wages y/y 4.9% vs 4.5% priorPrivate sector employment...
What technicals are driving the major currency pairs to start the US sessoin
The major indices are set to open mixed/lower after the broader S&P and Nasdaq closed at record levels. The indices are up strongly this week as the market cheer the Trump victory along with a Fed that cut rates and is favored to cut in December too. Yields are...