The major US stock indices are trading mixed with the Dow Industrial Average trading higher. The S&P near unchanged and the NASDAQ index down once again. Major indices are tracking for their worst weeks since October. That's not hard given the nine week win streak...
US equities started the year off poorly, what does it mean for the rest of the year?
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Traders will be watching the 1.3345 as a barometer for trading in the USDCAD. Why? Watch.
The USDCAD has seen it down and up price action in trade today. The last move was spurred on by better-than-expected US data. ADP came into stronger-than-expected. US jobless claims was lower which is indicative of a solid jobs market. Yields are higher which is...
Ford reports annual sales of 1.99m compared to 1.86m a year earlier
Automakers will be reporting sales figures throughout the week. Ford is out today, reporting a 7.1% rise in US sales led by crossover SUVs and pickup trucks.Yesterday, GM reported 2.6m unit sales in the US, up 14% in 2023 and in-line with estimates. It's GM's best...
Kickstart FX trading on January 4th with a technical look at the EURUSD, USDJPY and GBPUSD
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 dollar climbs as jobs data highlights robust economy
The US dollar is at the highs of the day against the yen, up 124 pips to 144.60. It's the third day of large gains in that pair to start the week and it's backed today by an 8 bps rise in 10-year yields to 3.985%.The latest leg of gains came after lower-than-expected...
US weekly initial jobless claims 202K vs 216K expected
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ADP national employment for December 164K versus 115K expected
ADP employment remounts to 164KPrior month 101K versus 103K previously reportedThe median change in annual payJob stayers 5.4% versus 5.8% last monthJob changers 8.0% versus 8.3% last monthThe data is stronger going into the more important BLS employment date on...
Germany December preliminary CPI +3.7% vs +3.7% y/y expected
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ForexLive European FX news wrap: Dollar mixed, yen struggle continues
Headlines:Markets:EUR leads, JPY lags on the dayEuropean equities little changed; S&P 500 futures up 0.1%US 10-year yields up 4.6 bps to 3.953%Gold up 0.2% to $2,045.31WTI crude up 1.1% to $73.52Bitcoin up 0.9% to $43,343It wasn't the most lively of sessions but...
UK PM Sunak says that there will be no election this spring
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US December Challenger layoffs 34.82k vs 45.51k prior
Prior 45.51kUS-based employers announced 34,817 job cuts in December and that brings the total number of layoffs in 2023 to 721,677 jobs. For some context, that is a 199% increase from the 363,284 layoffs announced in 2022. So, if you want any further evidence that...
Ishikawa earthquake to shelve BOJ plans for an early policy pivot?
The trading year for Japan officially began today after an extended new year's holiday, and we are seeing the yen drop further. It seems like domestic banks are fueling the fire in saying that the supposed impossible task by the BOJ to perform an early policy pivot,...
Dollar mostly lower so far but the yen is struggling even more
There seems to be a bit of pushing and pulling in markets at the moment, and I would say that something's gotta give in due time. The dollar is mostly lower across the board, with it only gaining against the Japanese yen today. That comes as Treasury yields are...
Euro and sterling hold slight gains after PMI deluge
While the UK economy arguably ended the year on a high, the Eurozone economy is still suffering a downturn even with the positive revisions to the French and German data earlier. But amid a steadier market mood today, the euro and pound are able to push a little...
UK November mortgage approvals 50.07k vs 48.50k expected
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UK December final services PMI 53.4 vs 52.7 prelim
Prior 50.9Composite PMI 52.1 vs 51.7 prelimPrior 50.7The good news here is that UK business activity seems to be holding up well in December, with both output and new work rising for a second month running. That being said, employment is a bit of a weak spot while...
Market Recap:Sentiment stable for now
Economic Indicators & Central Banks: The Fed’s minutes to the December 12-13 meeting showed some pushback against imminent easing, while still acknowledging the rate cuts penciled in with the dots. The report showed “all” participants said clear...
Microsoft to add AI button to PC keyboards in first major change in 30 years
Microsoft is to introduce a new keyboard key for the first time since it launched the Windows key all the way back in 1994. The debut of the Copilot key will be in February this year, as it will be available on laptops and desktop keyboards Microsoft’s OEM partners...
Bavaria December CPI +3.4% vs +2.8% y/y prior
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