Key Themes:Revisions in Rate-Sensitive Currencies:Goldman Sachs has made significant revisions in forecasts for currencies sensitive to interest rate changes, notably JPY, SEK, and IDR.These adjustments primarily reflect the observed shifts in these currencies over...
Houthi official: US offered not to obstruct peace in Yemen for halting Red Sea attacks.
A Houthi official on Al Jazeera said the US offered not to obstruct efforts to reach peace in Yemen in exchange for halting military operations in the Red Sea. The official said they rejected the deal.There is a low-rep report out there that Saudis and Houthis are...
Nikola motors founder Trevor Milton sentenced to four years in prison
NKLA weeklyNikola Motors founder Trevor Milton was sentenced to four years in prison after his October 2022 conviction on securities fraud and wire fraud. Prosecutors had asked for 11 years.The most-famous instance of fraud was a video showing a Nikola truck in motion...
US January shale oil production seen slipping slightly
The EIA is out with its latest productivity report and production in shale regions is seen down 1k bpd after a 2k bpd drop in December. The Permian continues to lead the way with back-to-back monthly rises near 5k.The oil market will be carefully watching the US this...
BNP Paribas: Bearish outlook on USD with eyes on EUR/USD and USD/JPY
BNP Paribas articulates its bearish stance on the USD over the coming year, influenced by the Federal Reserve's dovish pivot and the broader economic environment. The bank also provides its long-term targets for EUR/USD and USD/JPY.Key Points:USD Off Highs as Year...
Gold grabs a bid. Eyes on the BOJ later.
We're into the time of year when flows dominate fundamentals so it's tough to pin down every market move. Gold's latest rally has pushed it up $14 to $2032 on the day.I don't see any headlines behind it but eyes are on the Red Sea and how the US will respond to a...
Oil Price Forecast: Oil Surges on Supply Chain Concerns as Red Sea Disruptions Intensify
OIL PRICE FORECAST:Most Read: What is OPEC and What is Their Role in Global Markets?Oil rose as much as 3% today trading above the $73 a barrel handle following escalating tensions in the Red Sea. The attacks carried out by Houthis in Yemen as they push to end the...
Your Guide to Cryptocurrency Regulations in the UK
The United Kingdom has emerged as a significant player in the global cryptocurrency landscape. As digital currencies gain traction and popularity, understanding the regulatory framework governing these assets becomes paramount.What Are Cryptocurrency...
How FOREX Brokers Can Identify “Toxic” Traders
In the fast-paced world of forex and multi-asset trading, brokers face the daunting task of managing high-risk trading behaviors that can significantly impact their operations. These include scalping, news trading, and various arbitrage strategies. The challenge lies...
Why the Federal Reserve’s dovish pivot is a stroke of genius
AI imageThe question for the Federal Reserve in December wasn't if it would pivot, it was when.nce the decision was framed in this way, the rationale for acting sooner rather than later became much clearer.Many market participants are currently frustrated because the...
US December NAHB housing market index 37 vs 36 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,...
Oil climbs $2 with eyes on the Red sea
The situation in the Red Sea appears to be growing untenable for global shipping companies. That may result in the US military intervening to keep the critical shipping rout open.This is from Javier Blas at Bloomberg:The West has two "b" alternatives with the Houthis,...
S&P 500 climbs 0.3% at the open
We're into the 'Santa Claus rally' time of the year, though many might argue it started on November 1 this year. In any case, S&P 500 futures are up 11 point,s or 0.2% just ahead of the open.There was dip on Friday but the buyers arrived, including in a pop in the...
Q3 Canadian job vacancies fell 9%
Statistics Canada is out with quarterly job vacancies data and the picture differs strongly from still-robust hiring data. The report shows vacancies fell by 69,900 to 706,100. That's a ongoing decline from the peak of 990,900 in Q2 2022.The job vacancy rate fell to...
Fed’s Goolsbee: We’ve seen significant improvement on inflation
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,...
Canada October new housing price index -0.2% vs -0.1% 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,...
Goolsbee and housing data highlights a light economic calendar
The highlight of the economic calendar in North American trading today is probably Chicago Fed President Austan Goolsbee, who will be on CNBC at the bottom of the hour. He spoke on Friday so I don't know if there's some material change he can make. Here were the...
ForexLive European FX news wrap: Dollar mixed, more central bank pushback
Headlines:Markets:AUD and NZD lead, JPY lags on the dayEuropean equities lower; S&P 500 futures up 0.2%US 10-year yields down 2.1 bps to 3.907%Gold up 0.2% to $2,023.54WTI crude up 0.9% to $72.09Bitcoin down 3.2% to $40,890It was a quiet session for the most part,...
ECB’s Kazimir: Inflation optimism not enough to declare victory and move on to next stage
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 and Russia says will continue to deepen, expand pragmatic cooperation
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,...