Not impacting NZD/USD upon release.The current account represents the most comprehensive gauge of a nation's international financial interactions. It encapsulates not just the exchange of goods and services, but also earnings from foreign investments and payments made...
Warnings of BOJ yen intervention as USD/JPY rises higher
JPY weakened after the (most-telegraphed ever?) Bank of Japan tightening on Tuesday:I've seen notes now warning that the Bank of Japan may have to intervene. UBS, for example, says that now the tightening is out of the way, and there are no further moves expected on...
Goldman Sachs like oil prices higher on both supply and demand factors
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,...
Forexlive Americas FX news wrap: Canadian CPI surprises to the downside, risk trades pop
Markets:Gold down $2 to $2157US 10-year yields down 4.8 bps to 4.29%WTI crude up 53-cents to $83.25S&P 500 up 0.6%USD leads, JPY lagsThe Bank of Japan decision continued to reverberate in a strong 'sell the fact' reaction for the yen. Perhaps the market was...
Oil – private survey of inventory shows headline crude oil draw
more to come--Expectations I had seen centred on:Headline crude 0 mn barrels (ie no change, which seems peculiar, and do note there are other surveys of expectations)Distillates -0.1 mn bblsGasoline -1.4 mn---This data point is from a privately-conducted survey by the...
US stocks close higher in an volatile day with the price moving above and below unchanged
The major US stock indices are closing the day higher in what was a volatile day, with the price moving above and below unchanged. After all the volatility, the S&P indexes closing at a new record high of 5178.52. The old highways at 5175 pointsThe initial moves...
Economic calendar in Asia Wednesday, 20 March – Japan holiday, PBoC interest rate setting
Japanese markets are closed for a holiday today.---The People's Bank of China sets its Loan Prime Rate (LPR) for the one- and five-years on Monday January 21.Due at 0115 GMT, which is 9.15 pm US Eastern time.The LPR plays a vital role in determining interest rates for...
New Zealand data: Q1 Consumer confidence rose to 93.2 from 88.9 in the previous quarter
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Trade ideas thread – Wednesday, 20 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,...
The Fed cutting rates won’t end the dollar cycle, it will take more than that
A topical question at the moment is around the big US dollar cycle, given that we're headed towards Fed easing. Deutche Bank today makes a compelling case that it won't be initial Fed cuts that end the USD cycle as it usually only turns well after Fed cuts begin and...
GBPUSD reaches 200 bar MA on 4-hour chart and swing area and backs off
GBPUSD moved up to the 100 bar MA on 4-hour chartThe GBPUSD has completed its down and up "lap" that saw the pair move from an Asian session high at 1.27305, to a low in the European session at 1.2667 (and briefly below the 200 bar MA on the 4-hour chart at 1.2673),...
Goldman: Fed on track for a June cut; we now expect 3 cuts in 2024 instead of 4
Goldman Sachs predicts the Federal Reserve may initiate rate cuts by June, adjusting its forecast due to slightly firmer inflation in recent months. The firm now anticipates three rate cuts in 2024, a decrease from its previous forecast of four, due to a marginally...
Crude oil settles at $83.47
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,...
USDJPY moves to new 2024 high and trades at highest level since November 16
USDJPY trades to new 2024 highsThe USDJPY has broken above its 2024 high at 150.885 and advanced to a high of 150.954. That's the highest level since November 16.For buyers looking for more upside, it would now take a move below 150.718 (low of swing area on the chart...
Fed preview: Ignore the dots, focus on Powell
AI imageI wrote yesterday about a small detail in the dot plot that might be ignored in the initial move but will have some larger repercussions. Beyond that, I expect the dot plot is going to be an overrated part of the equation when the Federal Reserve meets...
Canadian inflation is back to target, with one caveat
This is a great chart from Dominique Lapointe at Manulife. He highlights that Canadian February CPI excluding mortgage interest costs was at 2.06% y/yIt's "clearly the kind of sustained progress the BoC needs to see to ease its policy rate," he said.The Bank of Canada...
Bitcoin roars back more than $3000 from the lows
Ugly trading in Asia has led to big buys in the US.Bitcoin is up more than $3000 from the low in US trade of $62,328 and is trading at $65,681. Despite the huge pop, it's still down 2.5% on the day as the market frets about ETF inflows and the latest buy (which is...
US treasury sells $13 billion of 20 year bonds at a high yield of 4.542%
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,...
U.S. Treasury to auction off $13 billion of 20 year bonds at the top of the hour
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,...
ECBs Kazaks: He is comfortable with current market pricing on rates
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,...