DoubleLine Capital’s deputy chief investment officer Jeffrey Sherman spoke in an interview with Bloomberg TV:“At this stage, we see core inflation has been dampening, the trajectory is right, but the market is definitely extrapolating this into that the Fed is going...
Economic calendar in Asia for Friday, 5 January 2024 – a light one
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,...
Trade ideas thread – Friday, 5 January, 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,...
Bitcoin climbs 2.6%. All eyes ETF approval
Yesterday might have exposed how vulnerable bitcoin could be to a 'sell the fact' trade following the launch of a bitcoin ETF.Two reports hit:1) The first was an extremely flimsy analysis piece from a no-name firm speculating that an ETF approval could be submarined...
Crude oil futures settle at $72.19
The price of crude oil futures are settling at $72.19. That is down $0.51 or -0.70%. The high price reached $74. The low price was at $71.06. The price is settling right around its 100 hour moving at $72.11.In the weekly inventory data, the EIA announced a notable...
EURUSD Technical Analysis: Key levels to watch ahead of US jobs day
The clock is ticking toward the close of the day, and the start of the new trading panel day. Tomorrow, is US non-farm payroll day and the EURUSD traders, are setting up for that event. More specifically, the pair is trading near its 50% retracement level on both the...
Earthquake unlikely to alter the Bank of Japan’s plans
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,...
Morgan Stanley gives up on ‘strong dollar’ call
Morgan Stanley downgraded its outlook for the US dollar today, lowering it to neutral from bullish.They had previously forecast an 8% rise in the Dollar index but have followed others in predicting a weaker environment following the Fed pivot.US Dollar indexOur...
US says Russia intends to purchase missile systems from Iran
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 Dollar Wavers Ahead of US Jobs Data, Tech Setups on USD/JPY, AUD/USD, Gold
US DOLLAR FORECAST – USD/JPY, AUD/USD, GOLDThe U.S. dollar, as measured by the DXY index, slides despite the advance in Treasury yieldsAll eyes will be on the U.S. employment report on FridayThis article analyzes the near-term outlook for the U.S. dollar, examining...
USDJPY: Moves above 38.2% Retracement but fails. Will upside momentum be threatened?
The USDJPY has been trending higher over the last few days, and in the process has been able to move above the 38.2% retracement of the trend move down from the November high. That level comes in at 144.698. Above that was the December 19 high at 144.938. The...
St. Louis Fed names quant-firm founder Alberto Musalem as its next president
Alberto G. MusalemThe Federal Reserve Bank of St. Louis announced today that Alberto G. Musalem will be its next president and chief executive officer.Most recently, he founded a macro-focused quant firm backed by Paul Tudor Jones, which had about $110 AUM.Musalem has...
St. Louis Fed says Alberto Musalem to succeed Bullard as regional bank president
St Louis Fed new Pres. Alberto MusalemThe St. was Fed has announced that Alberto Musalem will succeed former Pres. James Bullard. Bullard started 15 years before resigning to become the Dean of the Krannert School of Management at Purdue University. Musalem comes from...
Islamic State claims responsibility for Iran terrorist attack
ISIS has claimed responsibility for Kerman attack in Iran, saying it was carried out by two suicide bombers.Islamic State – Khorasan Province is a Sunni group operating primarily in Afghanistan that is deeply opposed to the damage done to Islamic State’s cause by...
US stocks (and Nasdaq index) shows some positive life
Nasdaq index is back above its 200-hour moving averageThe Nasdaq index gapped lower in early trading and in doing so, fell below the 200-hour MA for the first time since November 1. That MA comes in at 14589.39. The current price is now trading at 14628.80 up 37...
US weekly EIA crude oil inventories -5503K vs -3725K expected
Prior was -7114KGasoline +1090K vs -215K expDistillates +1009K vs +588K expRefinery utilization +0.2% vs -0.1% expProduction-100K to 13.2 mbpdImpld mogas demand: 7.95Mbpd Late yesterday, the API reported:Crude -7418KGasoline +6913KDistillates +6686KThe turn of the...
The USDJPYs rise is helping to push GBPJPY above a key technical target. What next?
We know of the USDJPYs move higher in early 2024 from earlier posts. That run higher has the USDJPY moving toward my upside target near the 145.00 area. The high price today has reached 144.794 so far. The USDJPYs run to the upside is being mirrored in other JPY pairs...
US dollar sellers emerge as risk assets perk up
Some US dollar selling has crept in, particularly against the euro and pound. It comes with a bump in risk assets that's pushed the S&P 500 up 0.2%.The dollar has started the year strongly and it's been helped by a re-think of the amount of Fed cuts that will come...
US December S&P Global final services PMI 51.4 vs 51.3 prelim
Prelim was 51.3Prior was 50.8Composite PMI vs 51.0 prelim (50.7 prior) New orders rose at the sharpest rate since JuneService providers recorded a steeper rise in input costs as higher wages and food prices drove inflation but there was a slower uptick in output...
US stocks trading mixed in early trading
The major US stock indices are trading mixed with the Dow Industrial Average trading higher. The S&P near unchanged and the NASDAQ index down once again. Major indices are tracking for their worst weeks since October. That's not hard given the nine week win streak...