The crypto market appears to be warming up to incoming SEC commissioner Paul Atkins.He was rumored for the pick but was nominated today and is friendly to crypto. That's helped to lift bitcoin to $98,250 from a low of $94,800 just a few hours ago.Bitcoin 10 minsAlt...
MUFG: EUR/USD could test parity in 2025 before modest recovery
EUR/USD dailyMUFG expects the euro to remain under pressure in 2025, driven by anticipated U.S. trade policies and geopolitical tensions, with EUR/USD potentially testing parity before staging a modest recovery.Key Points:Election Impact: The euro fell sharply...
Bonds and stocks both stay bid after Powell
If anything, Powell was more hawkish today in his interview.He touted an economy that was stronger than thought in September and inflation "a little higher" than anticipated."The good news is that we can afford to be a little more cautious as we try to find neutral,"...
French government loses no-confidence vote
French Prime Minister Michel Barnier negotiated Brexit, now he's going to negotiate his own exit.Supporting the vote were 331 members out of 574.The move was widely expected but it's not clear how President Macron will now proceed. An election can't be called until...
Beige Book: Fed districts deport slight growth, rising business optimism for 2025
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Fed’s Powell: US economy is envy of the world, I’m going to do everything to keep it there
AI imageFeel very good about where monetary policy isUS economy is in remarkably good shapeThe same institutional relationships between Fed and Treasury will continue under new adminPart of the Fed's independence is that it's self fundedEconomy in good shape and no...
Oil can’t hold a bid ahead of Thursday’s OPEC+ decision
There have been multiple reports saying that the most likely OPEC+ result is an extension of production curbs through Q1, followed by the start of the planned return of barrels.Normally, I would argue that's priced in and tomorrow's price action should be smooth...
Trump picks former commissioner Paul Atkins for SEC chair
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ECB’s Nagel: I favor a gradual, cautious approach to rate cuts
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Canadian bank leaders see struggles for the Canadian economy
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Nasdaq extends gain to 1%, Amazon shares hit a record
December is a bullish month for stocks historically and markets are following the script so far.The Nasdaq is leading the way to, up 1.0% and hitting a new record. It's a nice looking breakout and comes after a softer ISM services report underscores the likelihood of...
ECB’s Makhlouf: Asked about 50 bps cut, says he prefers to move cautiously
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EIA weekly crude oil inventories -5073K vs -671K expected
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US dollar skids lower after ISM services report misses expectations
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French President Macron aims to name new Prime Minister swiftly if government falls
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US October factory orders +0.2% vs +0.2% expected
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US November ISM services 52.1 vs 55.5 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,...
Tech sector boosts: semiconductor gains and resilient performance in consumer cyclicals
Stock heatmap by FinViz.com Wed, 04 Dec 2024 14:46:15 GMT📈 Technology and Semiconductor Sector: A Surge in GreenThe tech sector leads the market today, with notable performances from Microsoft (MSFT) up by 0.78%, and Oracle (ORCL) by 1.78%. Standout performance in the...
US November S&P Global final services PMI 56.1 vs 57.0 prelim
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Canada November S&P Global Services PMI 51.2 vs 50.4 prior
SPGlobal Canada services PMIComposite PMI 51.5 vs 50.7 prior Services PMI rises to 51.2 from 50.4 in October, highest since April 2023Employment growth hits 14-month highInput costs remain elevated despite slowing from October peakExport orders decline accelerates...