US 10 year yield below the closing level from 2022The US 10-year yield is trading at 3.844% currently. That is down 4.0 basis points on the day. The decline today is moving the yield below the closing level from the end of 2022 at 3.886%. The last five trading days...
US December Richmond Fed composite manufacturing index -11 vs -5 prior
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 stocks are trading mixed/little changed in early US trading
The major US stock indices are opening higher after rising yesterday. The major indices are on a 8-week winning streak. Recall from yesterday:Dow Industrial Average rose 159.36 points or 0.43% at 37545.34S&P index rose 20.10 points or 0.42% at 4774.74Nasdaq index...
FXDD Integrates Autochartist to Increase Trading Efficiency
Global Forex and CFD leader FXDD has garnered industry recognition for its ability to weather the passage of time and remain ahead of the curve. In a pioneering effort to increase trading efficiency and facilitate decision-making, FXDD announces the groundbreaking...
Who are the FOMC voting members for next year?
I would say that the dovish and hawkish skew for the Fed is taking on less importance than usual in this current setting and will likely be the case as well for next year. As of late, policymakers tend to communicate in a more consistent manner in trying to cement...
Dollar demise to be the story for next year?
And yet, that only really manifested in the final two months of the year. That after markets and the Fed needing added time to really be convinced of the disinflation process. But even so, the aggressive nature of the rate cuts pricing since November has put the...
The Japanese yen is an early contender for the most interesting major currency in 2024
When Haruhiko Kuroda resigned from his post as Bank of Japan governor in April this year, he laid the groundwork for his successor, Kazuo Ueda, to try and make a change on the policy front. His departing words were that "Japan has made steady progress towards...
ForexLive Asia-Pacific FX news wrap: USD/JPY jumps after BOJ December meeting summary
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,...
China’s November Industrial Profits rebound with 29.5% y/y Growth
Industrial profits data for China in November 2023 has been released:+29.5% y/y for the month, up sharply from October's +2.7% y/y and its fourth consecutive month of growthand -4.4% YTD y/y (i.e. January - November y/y), from January - October's reading of -7.8%...
Goldman Sachs forecasting US inflation falling to low 2% y/y by US spring time
Goldman Sachs is forecasting US inflation (the core PCE inflation rate) falling to a level of low 2s y/y by US spring-time.More from the note, issued December 26:Our most out-of-consensus call for 2024 is our growth forecast. Our 2% forecast for 2024 Q4/Q4 GDP growth...
Goldman Sachs’ view on China for the year ahead is not confidence inspiring
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,...
USD/JPY jumped after the BOJ December minutes showed no urgency on a pivot
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,...
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The BOJ December meeting summary is not suggestive of any urgent pivot
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,...
Ex-Fed Dallas head Kaplan expects FOMC to lower rates soon, to avoid a flip side mistake
Former Dallas Federal Reserve President Robert Kaplan spoke with US media (CNBC) on Tuesday. “One of the reasons we got into this inflationary problem is the Fed stayed way too accommodative for too long, even as the economy was improving, and I don’t think it wants...
US stocks off to a positive start for the trading week
The major US stock indices got off to a good start to the holiday-shortened trading week with solid gains. The small-cap Russell 2000 continued its outperformance with a gain of 1.24% to lead the way higher. The Nasdaq index led the Big 3 indices. The final numbers...
BOJ Gov Ueda said we’re not there yet, prospect of achieving price target not high enough
Bank of Japan Governor Kazuo Ueda spoke on Monday. Justin had the main headlines here:Ueda was addressing a meeting of Councillors of Keidanren (Japan Business Federation). Keidanren is a significant organisation in Japan with close links to Japan’s ruling...
Economic calendar in Asia 27 December 2023 – Bank of Japan Summary (December meeting)
Its a light calendar here for the Asia session with the only item of note being the Bank of Japan Summary of Opinions from the December 18 and 19 meeting. Policy was left unchanged at that meeting despite the feverish speculation of an imminent policy change from the...
US Dollar in Risky Waters, Technical Setups on EUR/USD, GBP/USD, Gold
US DOLLAR FORECAST – EUR/USD, GBP/USD, GOLD PRICESThe U.S. dollar weakens, approaching its lowest level since late JulyFew market catalysts on sight for the remainder of the weekThis article examines the technical outlook for EUR/USD, GBP/USD, and gold, analyzing...
U.S. Treasury sells 2-year notes at a high yield of 4.314%
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,...