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It looks like the remainder of the day will be trading around vague headlines about a ceasefire of an indeterminate length and prisoner swap rumors/reports.The latest from Al Arabiya is that Israel wouldn't discuss a long ceasefire. This is not something you want to...

CNN reports that there has been 'significant progress' in Qatar-led negotiations on hostages held by Hamas. The negotiators say there are still issues that remain.There are some details here.CNN's Becky Anderson reports:"The group was proposing that all foreign...

University of Michigan Consumer SentimentPrelim was 63.0Prior was 68.1Details:Current conditions 70.6 vs 66.7 prelim (71.4 prior)Expectations 59.3 vs 60.7 prelim (66.0 prior)1-year inflation 4.2% vs 3.8% prelim (3.2% prior)5-10 year inflation 3.0% vs 3.0% prelim (2.8%...

The US dollar is at the best levels of the day as the market digests strong US consumption data and rising core inflation.USD/JPY has fallen 75 pips to 149.64.USDJPY 10 minsAdding to the weakness in the US dollar is a report from Al Jazeera that Israel-Hamas ceasefire...

Amazon and Intel beat expectations when they announced earnings after the close yesterday, and those shares are higher, but we've seen that story before this week where better earnings don't lead to higher stock prices. It's Friday I though and the market has been...

Al Jazeera reports that: "Negotiations are progressing rapidly to achieve a ceasefire agreement and an exchange deal between Hamas and Israel, mediated by Qatar"There are some kneejerk moves in markets on this but it's hard to believe that we could really see a...

MondayMonday was an empty day on the data front with just a couple of notable events:We haven’t seen a ground offence in Gaza over the weekend, although the airstrikes continued. Nonetheless, the risk sentiment improved as the ground operation is seen as the biggest...

Core PCE yyPrior was +3.9%PCE core MoM +0.3% vs +0.3% expectedPrior MoM +0.1%Headline PCE +3.4% vs +3.4% expected (prior +3.5%, revised to 3.4%)Deflator MoM +0.4% vs +0.3% expected (prior +0.4%)Full reportConsumer spending and income for September:Personal income...

PCE price index yyInflation and consumption are on the agenda today with the September US PCE report coming up at the bottom of the hour. There is good reason to think that the PCE price index will overshoot the +3.4% y/y and +0.3% m/m consensus. In yesterday's GDP...

Headlines:Markets:AUD leads, CHF lags on the dayEuropean equities lower; S&P 500 futures up 0.2%US 10-year yields up 2.8 bps to 4.872%Gold down 0.1% to $1,981.89WTI crude up 1.8% to $84.71Bitcoin down 0.6% to $33,984It was a quieter session as markets are gearing...

Is the relief today going to be a short-lived one? US futures are looking nervy now with S&P 500 futures up by just under 10 points, or 0.2%, currently. The gains earlier were as much as 0.7% with Nasdaq futures also trimming gains to just 0.7% now after having...