US 2 year yieldsIt's tough to put into words how big and difficult-to-explain the moves at the front end have been yesterday and today.CPI was hot yesterday and US 2s moved up to 4.39% from 4.33% but within hours that was erased. Later yesterday, yields fell further,...
S&P sitting on the high all-time close to start the trading day.Dow trades to a new record
The S&P index is open, higher and trading above and below the all-time highest close ever at 4796.57 The gains are modest. Yesterday, the S&P did move above that level again and backed off. Is today the day?S&P index is testing its all-time high closing...
Kickstart the FX trading for Jan 12 with a technical look at the EURUSD, USDJPY and GBPUSD
The US PPI data today came in weaker than expectations. That data neutralize the stronger-than-expected CPI data from yesterday. That inflation storyline is congruent with the price action in currencies. There is little upside. There is little downside. The details on...
The state of the US consumer and the economic risks, according to JP Morgan
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,...
Crude Oil Latest: Heightened Geopolitical Tensions Push Oil Prices Higher
Oil Analysis, Prices, and ChartsTraders concerned over potential retaliatory attacks.Supply chain fears over further Red Sea shipping disruption.Learn how to trade Oil with our complimentary guide: Recommended by Nick Cawley How to Trade Oil Get My Guide Financial...
Weekly Market Recap (08-12 January)
Fed’s Logan (hawk – non voter) over the weekend said that the Fed shouldn’t rule out another rate hike given the recent easing in financial conditions and added that it’s appropriate to consider a slowdown in the pace of the Fed’s balance sheet runoff (although we...
Dollar dips after tame PPI data
The market's reaction to the tame US United for December shows:USD lowerStocks higherYields lower.IN the forex:The USDJPY is back down toward its 100-day moving average of 144.87. Earlier today, the price, the price moved back down toward that 100-day moving average...
US December PPI 1.0% vs 1.3% expected
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,...
ECB’s Lane: Interest rate cuts are not a near-term topic
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 CAD is the strongest and the GBP is the weakest as the NA session begins
The strongest to the weakest of the major currenciesAs the North American session begins, the CAD strongest and the GBP is the weakest. The USD is mixed to higher with gains versus the EUR, GBP and CHF and modest declines versus the JPY, CAD, and NZD. Overnight in...
ForexLive European FX news wrap: Dollar firms slightly as futures slip, oil surges higher
Headlines:Markets:USD leads, EUR and GBP lag on the dayEuropean equities higher; S&P 500 futures down 0.3%US 10-year yields up 2.3 bps to 3.998%Gold up 1.0% to $2,048.83WTI crude up 3.6% to $74.62Bitcoin down 0.9% to $45,720There are a couple of interesting moves...
Gold climbs up by over 1% as buyers look for near-term breakout
With rates moving higher alongside the dollar, you'd typically associate that with weaker gold prices. At least that seems to be the case these days when it comes to the buy the dollar, sell everything else narrative; vice versa. But perhaps with tensions growing in...
Surge in oil prices adds another dent in the disinflation narrative this week
With the US and UK carrying out strikes in Yemen, the tensions in the Middle East is pushing oil prices higher on the day. Oil tankers are reportedly avoiding passage through the Red Sea in order to stay away from the conflict that is adding to the situation at the...
Rates may be higher and inflation may be stickier than markets expect, says Jamie Dimon
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 futures nudge lower as the post-CPI push and pull continues
US futures are now down near the lows for the day, with S&P 500 futures falling by 0.4% ahead of US trading. This comes as Treasury yields are keeping steadier, with 10-year yields up 1.7 bps to 3.989% on the day. The drop comes as the big banks are releasing...
ONS says January labour market data to continue to use recent adjusted series
This is yet again another heads up to the upcoming UK labour market report that will be released next week. This has been an ongoing thing since October already as seen here. As noted at the time, ONS says that the data will feature "a new series using additional data...
BOJ to broadly maintain forecast of inflation staying near target in coming years – report
This is related to the quarterly economic outlook report due this month, with the news yesterday here: BOJ reportedly considers lowering price outlook for fiscal year 2024 to middle 2% rangeThe sources cited in this report say that the BOJ is likely to cut its core...
China December M2 money supply +9.7% vs +10.1% y/y expected
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,...
How has the ETF story impacted Bitcoin price action so far this year?
Bitcoin (BTC/USD) hourly chartThere is no doubt that there has been plenty of anticipation ahead of the approval of Bitcoin ETFs. That has helped the cryptocurrency skyrocket all the way up from $34,000 at the end of November to a brief high of $49,000 this week.But...
US Inflation Shocks Investors But the NASDAQ Attempts to Hold Gains
US inflation surprises markets increasing from 3.1% to 3.4% for the first time since August 2023. The Core Consumer Price Index rose 0.3% as expected. US and UK carry out airstrikes in Yemen hitting multiple Houthi targets and boats which are alleged to have been...