Australian February monthly CPI data is due today. A couple of snippet previews:Westpac is forecasting 3.8% y/y:The Monthly CPI Indicator is anticipated to rise in February, reflecting increased gasoline prices and a potential Taylor Swift effect on travel and...
Private survey of oil inventories shows huge headline crude build vs. draw expected
Oil prices had slumped during the Tuesday US session, and they are extending a little lower after this data. Numbers via Twitter:--Expectations I had seen centred on:Headline crude -1.3mn barrelsDistillates -1.7 mn bblsGasoline +0.5 mn--This data point is from a...
Nasdaq closes on the the lows of the day as chipmakers weigh
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,...
Economic calendar in Asia Wednesday, 27 March 2024 – Australian CPI data
The median consensus expectation is for a slight rise in Australian monthly inflation in February. Inflation is proving to be sticky in many economies, Australia included. The recent run of data in the US, too, shows similar and has resulted in market expectations of...
Trade ideas thread – Wednesday, 27 March, insightful charts, technical analysis, ideas
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,...
Whoever develops artificial general intelligence first wins the whole game
There is a common sentiment that no amount of money spent on chips, servers and human capital is too much. Why? Because the prize is unimaginably large.The race is certainly on and the thinking is that developing artificial general intelligence (AGI) could offer...
Credit Agricole: Prelim month-end fixing model points to moderate USD selling
Credit Agricole's analysis of March's financial market movements, including the rise in global equity markets and the USD's overall strength, indicates a trend towards moderate USD selling at the month-end fixing. The prediction stems from a preliminary examination of...
Late selling hits crude, falls 33-cents on the day
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,...
BofA: Dusting off the CNY playbook; Analyzing currency reactions to Chinese yuan movements
CNY dailyBank of America delves into the sensitivity of different currencies to fluctuations in the Chinese Yuan (CNY), spotlighting three key periods of CNY depreciation in the last decade: the 2015-16 mini-devaluation, the 2018-19 US-China trade tensions, and the...
US sells 5-year notes at 4.235% vs 4.245% WI
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 set to sell a record $67 billion of 5-year notes
Yesterday's US 2-year sale tailed and given the $67 billion size, there is a good risk this one could as well.The last six 5 year auctions have had 3 stop throughs and 3 tails, though the tails were larger at 1.6 bps on average. BMO notes that: The 2s/5s/10s cash...
European equity close: Six days in a row for the DAX
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,...
China files a WTO complaint against US electric-vehicle subsidies
This might be the beginning of the end of the WTO.China is challenging US rules in the IRA that require vehicles to use parts from specific regions to qualify for subsidies while excluding products from China and others.Trade experts say China has a strong case,...
USD/JPY springs to the highs of the day
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,...
Gold has second thoughts after testing $2200
Gold today rose as high as $2199 but failed to break back above $2200. That's a level it first crossed on March 20 before it fell back the next day.Today's rally came in Europe and Asia but has given it all back in US trading. It's another hint that all the buying is...
OPEC+ unlikley to change output policy before June – 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,...
Goldma Sachs: BOJ’s policy shift only a small step for JPY
Goldman Sachs analyzes the Bank of Japan's recent decision to exit negative interest rates, marking a significant policy move but with limited immediate impact on the Japanese Yen (JPY). The adjustment is deemed insufficient to counter the broader macroeconomic...
The Swiss Franc Continues to Struggle After SNB’s Shock Rate Cuts!
The US Durable Goods Orders read higher than expectations rising from -6.1% to +1.4%. Core Goods Orders also rose and were slightly higher than the 0.4% expectations. The day’s weakest currency remains the Swiss Franc within the first three trading sessions. This is...
US March Dallas Fed services sector outlook -5.5 vs -3.9 prior
Service sector outlook -5.5 vs -3.9 priorRevenue +4.0 vs +5.2 priorComments:Utilities General business activity has picked up.Specialty trade contractorsWe are seeing a slowdown in capital expenditures for existing real estate buildings.Personal and laundry servicesWe...
Chocolate: where the real treasure lies
The saying "money doesn't grow on trees" couldn't be more wrong, especially with how cocoa prices continue rising. To put it better, they are skyrocketing, costing more than copper - over $9,600 per metric ton.But what's the problem - has a sort of OPEC-style...