Bonds are selling off, gold is lower and the US dollar is strengthening after headlines continue to suggest that OPEC will deliver a collective cut. An extension of current policy cut and the Saudi 'lollypop' 1 mbpd cut already appear to have been agreed and leaks...
OPEC discussing deeper output cuts for Q1, could approach 2 mbpd
Meetings used to be for deciding things.But with central banks and oil cartels, it's all decided ahead of time nowdays. The OPEC JMMC monitoring committee is meeting now and at 9:30 am ET (2:30 pm in London), the main meeting will get underway. It's all in virtual...
PCE data is expected. The surprises in the continuing claims
The US PCE data came in as expected across all monthly and yearly measures and headline and core as well. The surprise was in the continuing claims which search to 1.927M. That was the highest since November 2021.The market reaction is somewhat modest. Stocks remain...
US September PCE core +3.5% vs +3.5% 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,...
US Initial jobless claims 218K vs 220K estimate. Continuing claims highest since Nov. 2021
Initial jobless claims and continuing claimsInitial jobs claims prior week 209K revised to 211Kinitial jobs claims vs 220K estimate.4-week moving average of initial jobs claims to 220K vs 220.50 last week .Continuing claims 1.927M versus 1.872M estimate. That is the...
Canada Q3 GDP -0.3% q/q vs +0.2% expected
Annualized q/q GDP -1.1% vs +0.2% expectedQ2 annualized q/q GDP revised to +1.4% from -0.2%September GDP +0.1% vs 0.0% expectedAugust GDP was 0.0%Prelim Oct GDP +0.2%Q2 GDP revised to +0.3% from 0.0%GDP implicit price Q/Q +1.8% vs +0.7% prior (prior revised to...
The USD is the strongest and the EUR is the weakest as the North American session begins
As the North American session begins. the USD is the strongest of the major currencies while the EUR is the weakest. The latest Eurozone data released by Eurostat on November 30, 2023, showed that the preliminary Consumer Price Index (CPI) for November came in at...
ForexLive European FX news wrap: Euro dips as ECB rate cut bets heat up
Headlines:Markets:USD leads, EUR lags on the dayEuropean equities higher; S&P 500 futures up 0.3%US 10-year yields up 2.3 bps to 4.293%Gold down 0.3% to $2,038.08WTI crude up 0.8% to $78.47Bitcoin up 0.3% to $37,841The session started off with the dollar looking...
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High chance for YCC and negative rates to be scrapped as soon as April – ex-BOJ official
Muto says that as things stand, there is a high chance for yield curve control (YCC) and negative rates to be scrapped - possibly as early as April next year. The key thing that such a development hinges on will be the outcome of the spring wage negotiations....
Unveiling YaMarkets and the Latest Trends in Trading Technology
Technological advancements are propelling a remarkable transformation in the Forex market, a dynamic arena where fortunes are made and lost. Whether it is traditional trading methods or sophisticated strategies, technology has catapulted the Forex market into a new...
Types of Traders: Position Trader
A position trader is a type of trader who holds a position in an asset for a long period, typically from months to years. Unlike day traders who make numerous trades every day, or swing traders who hold onto positions for days or weeks, position traders are more...
Oil moves higher as OPEC+ eyes deeper production cuts in latest twist to the drama
Here's a snapshot of price action in WTI crude over the last week or so:WTI crude oil hourly chartThe latest news is this one here, with reports stating that the additional production cuts could be more than 1 million bpd; though depending on the contribution by each...
OPEC said to have preliminary agreement for deeper production cuts in early talks
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 Panetta: Current interest rates level consistent to bring inflation down to target
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 rebounds as key technical level holds for now
USD/JPY daily chartUSD/JPY is now up 0.2% on the day to 147.56 as buyers are leaning on the 100-day moving average (red line) at 147.05 to put a defence so far today. The greenback in general is also showing some added signs of resilience, as the euro now is pipping...
No Japanese yen intervention in the past month, MOF data shows
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Eurozone October unemployment rate 6.5% vs 6.5% 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,...
Eurozone November preliminary CPI +2.4% vs +2.7% y/y expected
Prior +2.9%Core CPI +3.6% vs +3.9% y/y expectedPrior +4.2%After the softer-than-expected readings from Spain, Germany, France (and also Italy), this doesn't come as much of a surprise. But the latest readings do provide a bit of a challenge to the ECB that inflation...
Markets now see first ECB rate cut in April 2024
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,...