The AUDUSD had an up-and-down day yesterday that initially saw the pair move above its key 200-day moving average, 200-bar moving average on the 4-hour chart, and 50% midpoint of the trading range since the October 2023 low. All those levels came between 0.65609 and...
Fed’s Cook: I want more confidence that inflation is converging to 2% before cutting rates
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More from Fed’s Harker: Fed does not know what ample reserve level is
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Chinese envoy: An immediate cease-fire in Gaza is imperative
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New Zealand retail sales for Q4 -1.9% versus -0.2% expected
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What is ahead in the Asian Pacific session? New Zealand retail sales. Fed speak.
As we head into the Asia-Pacific market, what is ahead for economic releases and events:Japan is on holidayAt 4:45 PM ET, New Zealand retail sales for Q4 will be released with estimates of -0.2% versus 0.0% last quarter. The core retail sales are expected to also...
Forexlive Americas FX news wrap: The forex market unsure what to do with huge equity gains
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Fed’s Harker: Fed can hold here on rates for now. No rush to cut.
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US equity close: Nvidia scores the biggest market cap gain ever
All eyes were on Nvidia today and it certainly delivered, climbing $108 or 16%. In market cap terms, that's a gain of $277 billion, which is the single-best day for any stock ever by a margin of more than $70 billion.The gains in Nvidia led to a renewed wave of global...
Bitcoin isn’t ready to follow the Nasdaq’s lead
Bitcoin has suddenly gone quiet.It's up 1% after falling 1% yesterday but zoom out and it's been flat since February 15.Bitcoin dailyNow what stands out on that chart isn't a week of flat trading but the big run-up since February 6. A period of consolidation is normal...
Fed’s Harker: We may be near the point of cutting rates but unsure of when it will happen
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Why hot economic data isn’t a problem
In the macro picture, the main bearish argument is that the US economy could continue to strength and re-ignite inflation, leading to a long Fed pause at the top or even another hike.Fuelling that sentiment is the experience of 2022, where US equities -- particularly...
Don’t stop believin’: Nasdaq up nearly 3%
There's an alternate universe where Nvidia reported some kind of production stumble or the guidance wasn't strong enough or Jensen Huang was sick and this market fell apart.But in this reality, it's full-steam ahead on the artificial intelligence express. The Nasdaq...
The Nikkei is proof that timing is everything
Nikkei 225 monthlyIt's a shame that Nvidia earnings are overshadowing what happened in Japan today. The Nikkei 225 hit an all-time high, finally break the 1989 peak after an incredible 34-year wait.Given that it's come on the same day as Nvidia is likely to make the...
USD/JPY stretches to the highs of the week as Fed rate cut pricing dwindles
USD/JPY is at the highs of the week, up 37 pips today to 150.65.USDJPY dailyEyes are on 150.88, which was the Feb 12 high. A break through that puts 152.00 squarely on the table and a challenge of the November 2022 and October 2021 double top.This pair is getting it...
European equity close: Record high close for the STOXX 600
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US weekly oil inventories +3514K vs +3879K expected
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Weekly US oil inventories coming up next, oil slightly higher
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Jefferson Q&A: Over time household balnce sheets will normalize and drive less consumption
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Fed’s Jefferson says CPI shows path down for inflation likely to be bumpy
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