The employment report from Australia yesterday was a shocker:The consensus take on the report is that this cements no further rate hikes from the Reserve Bank of Australia. In addition, market pricing shifted from a 25bp rate cut in November to a cut in September....
UBS remain positive on commodities over the medium term
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Market chatter that ECB will ‘tweak’ its statement in March, odds of June rate cut firming
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US stocks close higher. S&P now up on the week.
US stocks are closing higher for the 2nd consecutive after tumbling on Tuesday after the stronger US CPI data. The Dow and S&P are now in positive territory for the week. The Nasdaq is still down on the week, but chipping away at the sharp -1.8% fall on Tuesday....
Forexlive Americas FX news wrap: US dollar gives back the CPI gains on light retail sales
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New Zealand data – January manufacturing PMI 47.3 (prior 43.1)
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Economic calendar in Asia 16 February 2024 – another light one
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Trade ideas thread – Friday, 16 February, insightful charts, technical analysis, ideas
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Morgan Stanley: Japan’s MoF not rushing to counter JPY weakness
USDJPY dailyMorgan Stanley observes that despite USD/JPY surpassing the 150 mark following strong US CPI data, Japan's Ministry of Finance (MoF) showed only moderate concern through verbal intervention. Their commentary suggests that while rapid currency movements are...
Crude oil futures settle at $78.03
The ups and downs continue this week in crude oil with a rise today of $1.39 or 1.81% to a settlement price of $78.03. On Monday the price moved higher, and on Tuesday the price rotated back to the downside, and today after first moving lower, the price has snapped...
The NZDUSD buyers are making a play away from a cluster of long term technical levels.
The NZDUSD buyers based the pair today at the 200 and 100-day MAs near 0.6075 to 0.6078. Those were just above the 50% of the move from the October 2023 to the December 2024 high. That midpoint comes at 0.6070. So with the cluster of key technical levels - the 50%,...
RBNZ Governor Orr: Flexible approach to inflation targeting remains appropriate
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Waller Q&A: Crytpo to me is like baseball cards
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Fed’s Waller doesn’t comment on monetary policy or the economy
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Watch live: Comments from Waller on “The Dollar’s International Role”
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Geopolitics:Hamas rejects Israeli offer for 3 month cease-fire & exit of leaders from Gaza
Last week (or was it the week before), it was Israel rejecting Hamas's overtures for a cease-fire. Now it Hamas's turn.Hamas rejects Israel's offer for a three month cease-fire and the exit of its leaders from GazaHamas insists on releasing all Palestinian prisoners...
Atlanta Fed GDPNow model growth estimate down to 2.9% from 3.4% last
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EURUSD runs up to the 100-day MA and backs off. What next for the pair?
The EURUSD continued its run from earlier today, but did run into resistance at the 100-day MA at 1.0785. The price has since rotated lower and is now back down testing its 200 and 100-hour MAs at 1.0754 and 1.0749. Those levels are now the next barometer for this...
Goldman Sachs cuts GDP tracking estimate
Goldman Sachs is out with a note taking down its Q1 GDP tracker to 2.5% from 2.9%. They also lowered the Q4 tracker to 3.2% from 3.5% due to economic revisions.Here's what they had to say: Industrial production decreased by 0.1% in January and manufacturing production...
ECB’s Scicluna says he’s open to March rate cut
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