ICYMI - Swiss National Bank President Thomas Jordan spoke on Tuesday, at an event in the Swiss town of Brig. Jordan once again addressed the strong Swiss franc, saying it has helped to cap inflation:“The nominal appreciation of the franc has lowered inflation” “The...
Australia January preliminary PMIs: Manufacturing 50.3 (prior 47.6) Services 47.9 (47.1)
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NZD/USD is jumping after a huge 5.9% non tradable inflation number in the Q4 data
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New Zealand Q4 CPI 0.5% q/q (expected 0.5%) and 4.7% y/y (expected 4.7%)
New Zealand inflation data for the October - December quarter of 2023Inflation in NZ is subsiding, a welcome relief for consumers and the Reserve Bank of New Zealand. Its not all good news though, domestic inflation, measured by 'non-tradeables' has come in at a...
Oil – private survey of inventory shows much larger headline draw than was expected
This is from the privately surveyed oil stock data ahead of official government data tomorrow morning out of the US.Via oilprice.com on Twitter:---Expectations I had seen centred on:Headline crude -2.2mn barrelsDistillates +0.3 mn bblsGasoline +2.3 mn--This data point...
US military has struck Iran-backed militants in western Iraq
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Forexlive Americas FX news wrap: US dollar flexes its muscles
Markets:Gold up $6 to $2027US 10-year yields up 4.2 bps to 4.135%WTI crude oil down 21-cents to $74.55S&P 500 up 14 points to 4864NZD leads, EUR lagsIt wasn't a blockbuster day in any market as we await some of the top-tier data in the back half of the week....
Netflix and Texas Instruments announces earnings after the close
Texas Instruments Inc (TXN) Q4 2023 Earnings:EPS: $1.49, BEAT expectations of $1.46.Revenue: $4.00 billion, MISSED expectations of $4.12 billion.Guidance: Q1 revenue projected between $3.45-3.75 billion, below expectations of $4.09 billion. Q1 EPS view is $0.96-$1.16,...
Economic calendar in Asia 24 January 2024 – New Zealand Q4 inflation data due
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Trade ideas thread – Wednesday, 24 January, insightful charts, technical analysis, ideas
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Major US stock indices close mixed. Dow snaps 3 day win streak
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What was harder: Buying China yesterday or buying it today?
Hang Seng dailyWas it harder to buy Chinese stocks yesterday as the Hang Seng broke below the 15,000 level and touched the lowest since October 2022? Or harder to buy today after a 2.6% bounce on a report that China could line up $278 billion of money to be poured...
Crude oil settles at $74.37
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AUDUSD sellers gain momentum as price dips below key moving averages
If I were to give a technical tilt for the AUDUSD, the bias is to the downside. Looking at the 4-hour chart, The price is now below the 200-hour moving average 0.65779 (green overlay line on the chart below). Bearish The price is also below the 50% midpoint of the...
Apple scales back on autonomous car plans in a sign of the times
Driverless cars are as real as this imageIn Elon Musk's telling, the world is always one year away from cars that drive themselves.However in the real world, there are increasing signs that it's not coming and might not for a long time. I've been writing about this...
Goldman Sachs continues to highlight the tightness in the global copper market
copper weeklyThe copper market is where the green revolution runs into the reality of global scarcity.If China managers to stay on track and demand for EVs, green power and infrastructure continue, then the copper market is headed for a supply deficit this decade...
US and UK aid workers have been asked to leave Yemen
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US sells 2-year notes 4.365% vs 4.365% WI
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The US treasury to auction off $60 billion of two-year notes at 1 PM ET
The US treasury will auction off $60B of 2-year notes at 1 PM ET. The auction is the first of the 3 coupon auctions this week. Tomorrow, 5-year notes will be auctioned. On Thursday, the treasury will auction 7-year notes.Below are the major component details of the...
USDCHF runs to new high and in the process looks to test the high of a swing area
The USDCHF is following the USDs run to the upside in the US session. US yields are helping. The 10-year yield is near 4.15%, up 5.6 basis points. The two-year yield is at 4.406% +3.0 basis points. At 1 PM ET, the U.S. Treasury auctions off $60 billion of 2-year...