Via a note from HSBC, analysts at the bank expect equities to take a breather:“we remain constructive on equities strategically""we expect a temporary pause in the rally” “Global equities have overshot our machine learning (ML) model’s prediction by 10% over the last...
New Zealand building approvals data shows a huge drop on the month, terrible numbers
Building permits data from New Zealand for November 2023 came in at -10.6% m/mprior +8.5%While this is an ugly data point the thing about building consents is that the m/m can be very volatile. The "lumpiness" comes from the ebb and flow of multi-unti developments in...
Forexlive Americas FX news wrap: Bitcoin ETFs approved, will start trading on Thursday
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,...
Fed’s Williams: Fed in ‘good place,’ has time to think about what’s next for rates
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,...
Bank of Japan “is completely ready” to end negative rates in April 2024 – ex BOJ official
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,...
SEC head Gensler says does not approve or endorse bitcoin; a speculative, volatile asset
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,...
It’s not exactly fireworks after bitcoin ETFs are approved
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,...
Nasdaq up for the 3rd day in a row. Major indices on track for gains for the week.
The major US stock indices are closing higher. The SEC announced that they approved Bitcoin ETFs. William's was a bit more hawkish, but who cares if the Fed cuts 3 or 6 times. One can argue if they cut 6 it means there is trouble in the economy. The Goldilocks is...
Trade ideas thread – Thursday, 11 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,...
Economic calendar in Asia 11 January 2024 – a light one
The data due today is not likely to move around FX too much upon release. The Trade data from Australia is listed as high priority but its not a market mover at present. Inflation data is, and we had an indication on that out yesterday, a little lower than expected, a...
Bitcoin ETFs approved — SEC document
Everyone is being careful with this but the SEC website this time has a new document here.It ends with:IT IS THEREFORE ORDERED, pursuant to Section 19(b)(2) of the Exchange Act,87 that the Proposals (SR-NYSEARCA-2021-90; SR-NYSEARCA-2023-44; SR-NYSEARCA2023-58;...
The USD is tilting modestly higher after William’s comments
The comments from NY Fed President were a bit more hawkish:Federal Reserve's Monetary Policy Stance:Stresses the need for a restrictive policy stance for some time.Suggests the Fed can cut rates when confident that inflation is moving back to 2%.Reiterates that the...
Fed’s Williams: Our work to bring inflation back to 2% is not done
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,...
Crude oil futures settles at $71.37
The price of crude oil futures is settling at $71.37. That is day $0.87 or -1.20%.The low price for the day reached $71.01. The high price was at $73.59.The weekly EIA inventory data showed larger-than-expected builds in crude, gasoline, and distillates. That helped...
Why is anyone still paying 2&20?
A twitter user posted returns for some big hedge funds in 2023 and once again only about 20% of them outperformed the 24% gain in the S&P 500 (congrats to Light Street and Whale Rock, whoever you are).However 100% of them charged huge fees for either having or not...
SEC says the content from the approval tweet was not drafted by them
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,...
S&P index moves closer to all-time high closing level
S&P indexes closer to its all-time high closing levelThe major stock indices are trained to new session highs. In the process, the S&P index is now within about 12- 13 points of its all-time high closing level of 4796.57. The high-priced just reached 4784.73....
Preview: What to look for in the December US CPI report
US CPI m/mIt has been a barren week on the economic data calendar to this point but it picks up on Thursday with the release of the US consumer price index report for December.In my view, the market has largely moved on from the inflation debate and it's increasingly...
US Dollar, Yields Mixed Before US CPI, Setups on EUR/USD, GBP/USD, Nasdaq 100
US DOLLAR, EUR/USD, GBP/USD, NASDAQ 100 FORECASTU.S. dollar softens amid mixed Treasury yields ahead of key U.S. inflation data on ThursdayThe Nasdaq 100, meanwhile, treks upwards but the move lacks strong conviction, with traders avoiding large directional positions...
Boeing CEO Calhoun: What happened should never happen, and can never happen (..but it did)
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,...