Cleveland Fed Pres. MesterOftentimes in the past year, the amount of Fedspeak has been far too much but we're approaching a turning point in policy so it's one of the rare times where every word matters. This entire stock market rally kicked off with the Fed and if...
Reserve Bank of New Zealand hints at possible tightening to control inflation. NZDUSD up.
The Reserve Bank of New Zealand's decision to maintain interest rates at 5.5% was anticipated, but their stance leaned towards the hawkish side. They didn't dismiss the possibility of future rate hikes to manage inflation. This sentiment drove the NZDUSD price up,...
USDCHF test support and bounces back, boosting the dip buying traders confidence
In my recent video analysis of USDCHF (CLICK HERE), I discussed the pair's movement below the crucial 61.8% Fibonacci retracement level at 0.88186, coinciding with the testing of the Asian session's swing low at 0.8791. I highlighted the risk for traders of a...
European equity close: DAX rises to the highest since August 1
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,...
GBPUSD reverses a key retracement level, potential for further downside
The GBPUSD moved above the next upside target at the 61.8% retracement of the move down from the July 2023 high. That level came in at 1.27189. The price moved up to 1.2732 on the break but then backed off and when it did, the buyers turned more to sellers. Traders...
The market prices in even more Fed easing next year
Until today, 100 basis points of Fed easing remained something of a ceiling for what the market was willing to price in. However yesterday's dovish comments from Waller changed the equation and late yesterday Bill Ackman piled on, talking about a Q1 cut.Barkin pushed...
Weekly EIA inventories crude oil +1609K versus -933K expected
Expectations:Crude +1609K vs -933K expGasoline +1764K vs +229K expDistillates +5127K vs -394K expThe huge build in distillates is a big surprise and it's certainly welcome given critically-low diesel inventories.Late yesterday, the API reported:Crude -817KGasoline...
Oil turns lower ahead of weekly EIA oil inventories
WTI crude oil is down 22 -cents to $76.07 after earlier trading as high as $77.88.The sharp round of selling comes ahead of the latest weekly US storage data from the EIA. The consensus estimates are:Crude -933KGasoline +229KDistillates -394KHowever there are whispers...
Feds Barkin: I’m hearing consumers slowing down, but not falling off the table
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,...
The bumpy path to achieving 2% inflation: Insights from Fed’s Bostic
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,...
Biden Administration to revamp EV tax credits to curb Chinese influence
The Wall Street Journal is reporting that the Biden administration is expected to announce tax-credit rules for electric vehicles (EVs) on Friday, impacting the American EV market.These rules involve a $7,500 tax subsidy for new EV buyers, with a specific focus on...
J.P. Morgan’s Dimon: We as a nation should not be complacent
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,...
The Two Best Performing Major Currencies of 2023!
In 2022, the best performing currency was the US Dollar, which outcompeted the whole of the market. This was largely due to the Federal Reserve consecutively increasing interest rates for 8 months and then again in July. The US Dollar was also supported by the...
US stocks higher to start Wednesday’s trading
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 set open higher. Futures are implying a solid start for the major indices
It is hump day in the week, and the major US stock indices are ± unchanged for the trading week. However, things are looking good in premarket trading to tilt the bias more to the upside. A gain this week would be the 5th consecutive positive week for the major...
USDJPY falls below 100-day MA, Investors eyeing 148.00 now. Sellers had their shot
The USDJPY fell in the Asian session in the process extended below the low price from last week at 147.14 and then the 100-day moving average at 146.98. The move below the 100-day moving average was the 1st since April 2023. It should have led to lower levels and...
Live Analysis – US GDP
The big upward revision to Q3 GDP to a 5.2% growth rate was generally taken in stride. Treasury yields remain lower, with the front end down sharply, even after plunging yesterday on the dovish read to Fedspeak from Governor Waller who was once one of the most...
EURUSD weakens as German CPI disappoints, paving the way for EU CPI data tomorrow
The German preliminary CPI data released today was weaker than anticipated, showing a -0.4% decline compared to the expected -0.1%. On a year-on-year basis, it stood at 3.2%, lower than the forecasted 3.5%. This outcome could positively influence the upcoming CPI data...
US wholesale inventories for October -0.2% versus 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,...
US advanced goods trade balance for October -$89.84 billion vs. -$86.4 billion estimate
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,...