McDonalds is preparing a $5 deal meal promotion. Needless to say, the cost of food has been rising and there are no bargains at the fast food restaurants either. Are consumers starting to show their unease with price rises by voting with their pocketbooks? Looking at...
MUFG trade of the week: Buy EUR/USD
EUR/USD daily MUFG Research exited its long AUD/NOK position, stayed long EUR/GBP, and added a new long EUR/USD position to its trade-of-the-week portfolio. MUFG maintained a long EUR/GBP position with a target at 0.8700, and a stop at 0.8450. MUFG also opened a long...
Population growth drove the Canadian jobs surprise — CIBC
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,...
Why the bond market might be overreacting to rising UMich inflation expectations
There were two opposing signals in today's preliminary May consumer sentiment survey from the University of Michigan. The dovish indication came from the main sentiment reading, which plunged to 67.4 compared to 76.0 expected.However the bond market instead focused on...
US Dollar Gains Ahead of US CPI Data; Setups on EUR/USD, USD/JPY, GBP/USD
Most Read: EUR/USD, USD/JPY, GBP/USD – Technical Analysis and Price OutlookThe U.S. dollar asserted its strength on Friday, riding on higher U.S. Treasury yields in anticipation of next week's highly awaited U.S. consumer price index data. Investors are closely...
European indices close higher. German Dax, France CAC & UK FTSE 100 close at record levels
The major European indices are closing higher on the day, and higher for the week. Moreover, the German DAX, France CAC, and UK FTSE 100 are all closing and record high levels. Expectations for lower rates are nothing risk-on flows.A snapshot of the closing levels...
White House Brainard: Debt ceiling fights have been unproductive
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,...
Pres. Biden is set to quadruple tariffs on Chinese EVs: WSJ
The Wall Street Journal is reporting that Pres. Biden is set to quadruple tariffs on Chinese EVs, keeping the low-cost EVs out of the US market and protecting US EV manufacturing. Meanwhile, there was report yesterday, that former Pres. Trump hosted oil executives...
2-for-1: A technical look at the AUDUSD and NZDUSD as the USD gets bid
The University of Michigan inflation expectation data sent the US dollar higher and the AUDUSD and NZDUSD pairs lower. Those moves to the downside, extended each pair to new session Lois, and in the process, each are also testing their 100-hour moving averages. Both...
More Minneapolis Fed Pres. Kashkari: Baseline is strong productivity rates will moderate
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,...
EURUSD finds willing sellers against its 50% midpoint and 200 day MA
EURUSD falls back to support targets after resistant testThe EURUSD moved higher in the early US session reaching a new intraday high of 1.07895. That got within a paper so of the 50% midpoint of the move down from the March 2024 high to the April 2024 low at 1.07906....
Minn. Fed Pres. Kashkari: Fed is interested in AI because it contributes to productivity
Minneapolis Fed Pres. Kashkari says:Fed is interested in AI because it contributes to productivityWorthwhile to downgrade hype around AIHMMMM. The last comment is an interesting broad comment. In what ways? From potential productivity gains? From risk standpoint? In...
More from Fed Logan Logan: We want to see everybody testing the discount window
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,...
University of Michigan consumer sentiment (preliminary) for May 67.4 versus 76.0 estimate
Prior month 77.2Consumer sentiment for May (preliminary) 67.4 versus 76.0 estimate. Prior month 77.2expectations 66.5 versus 75.0 expected. Prior month 76.0current conditions 68.8 versus 79.0 last month1-year inflation expectations 3.5% versus 3.2% last month. Highest...
Dallas Fed Pres. Lorie Logan: Fed has made substantial progress on inflation
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,...
University of Michigan sentiment index for May to be released 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,...
Oil, Gold & Copper heading for weekly gains amid revived rate cut hopes
Commodity indexes declined sharply last week as oil prices plunged on the back of a rise in US crude stockpiles and hopes of a ceasefire between Israel and Hamas. The gold price declined for a second week as safe haven flows eased. Middle East jitters picked up again...
US stocks higher and on pace for gains for the trading week
The major stock indices are opening mostly hired for the day and are on pace for gains for the week.A snapshot of the market currently shows:Dow industrial average is trading up 168 points or 0.42% at 39554. The index is on pasteboard eight consecutive up day. For the...
Kickstart the FX trading day for April 10 w/a look at the EURUSD, USDJPY and GBPUSD.
In the kickstart video for April 10, I take a look at three of the major currency pairs from a technical perspective - the EURUSD, USDJPY and GBPUSD. In this report, I also take a quick look at the USDCAD after it's stronger than expected April jobs report which...
Canadian jobs data beat expectations. Now what?
The Canadian labour market data beat expectations across the board with the market now seeing basically a 50/50 chance of a rate cut in June. Is this a major change though? Not at all. The gamechanger will likely be the CPI report due on May 21st when we will know if...