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,...
Asian Economic Calendar: Key Events and Consensus Expectations for 15 November 2023
Activity data from China will be the focus. Base effects are expected to likely cause industrial production to drop, although the consensus is for unchanged (y/y figures). The official manufacturing PMI is in contraction. Base effects too should, on the other hand,...
Trade ideas thread – Wednesday, 15 November 2023
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 dips further: Major currencies slide against greenback
The USD is continuing its tumble lower with the EUR, GBP, CHF, AUD and NZD all down -1.50% or more now. Versus the JPY the USD is down -1.01%. The biggest mover is the NZDUSD which is now up 2.35%.Looking at the daily chart of the NZDUSD, it has now reached and...
What’s priced in for the Federal Reserve after CPI
The market is acting as if core CPI at 4.0% instead of the 4.1% reading expected is a gamechanger. US 5 year yields are back to where they were in August... back before the Fed started talking about higher yields doing their work for them. US 5 year yields dailyThat...
No break whatsoever in the US dollar selling
The moves in financial markets today are incredible, especially when you consider that CPI was only 0.1 percentage points below expectations (and even less unrounded).It speaks to the positioning of market participants and the mountains of cash on the sidelines. Bonds...
EURUSD surges above key resistance, signaling further upside potential
EURUSD extend above the 50% midpointThe EURUSD is extending to yet a new high at 1.0881, and in the process as reached above another target at the 50% midpoint of the move down from the July high to the October low. That level comes in at 1.08613. Stay above that...
WTI crude oil gives back gains to finish flat on the day. Inventory data up next
WTI crude oil finished precisely flat on the day at $78.26 after rising as high as $79.77. The big figure appeared to be a hurdle along with worries about oversupply. That counteracted a broadly-positive risk tone that led to huge gains in equities along with a drop...
Bitcoin wasn’t invited to the party
The waiting game continues for a bitcoin ETF and it appears as though some bulls are losing patience, or taking profits. Bitcoin is down 3.7% today, or $1348 to $35,040 in the second day of selling. There have been several false reports of bitcoin ETFs and an approval...
New Zealand dollar nears 60-cents as it climbs more than 2%
NZD/USD dailyWhat a day for risk assets.The New Zealand dollar has taken full advantage of the softer US CPI with a 2.1% gain to completely erase a six-day losing streak ahead of today. So far, it's stalled at the November high of 0.6001 with barriers and technical...
Japanese Yen Update: Lower US CPI Tames USD/JPY, GBP/JPY Rises
Japanese Yen Analysis (USD/JPY, GBP/JPY)US CPI Has Knock on Effects for the Wider FX MarketWith inflation heading in the right direction, forward-looking markets are already anticipating interest rate cuts sooner than before, potentially accelerating the dollar...
The Fed has reached the terminal point in the hiking cycle, CIBC drops call for Dec hike
The US dollar is sinking today and risk assets are roaring higher after a softer-than-expected US CPI report. Economists at CIBC note that core inflation rose by 0.2% month-over-month, and year-over-year core inflation slightly decreased to 4.0% from 4.1%....
More from Goolsbee: October CPI report ‘looked pretty good’
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 Goolsbee: Inflation progress continues while economic growth has been strong
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 10 year yield tumbles below 4.5%
US 10 year yield falls below 4.5%The US 10-year yield fell sharply today and is currently down -16.1 basis points at 4.47%. The low yield today reached 4.434%.Looking at the daily chart, the move lower today took the price below the 4.500% level and also a swing level...
New Zealand dollar gains strength as European traders exit, US dollar weakens
The strongest to weakest of the major currenciesAs London/European traders head for the exits, the US dollar is getting hammered with the client of over 1.20% versus the EUR, GBP, CHF, AUD and NZD. The declines verse the JPY and CAD are less, but still around...
GBPUSD breaks resistance, surges above moving averages
The GBPUSD is now above it 200 day moving averageThe GBPUSD is extended to a new session high at 1.2482. Period the pair is now up 1.69%. That's the largest gain in the pair since November 10, 2022.In the process, the price of the GBPUSD has extended above its 200-day...
European equity close: Big gains, UK restrainted by currency climb
Daily changes:Stoxx 600 +1.4%German DAX +1.8%UK FTSE 100 +0.3%French CAC +1.5%Italy MIB +1.5%Spain IBEX +1.7%The picture is starting to brighten in Europe and it's looking more and more like a bottom was hit at the end of October.STOXX 600 dailyThere's a high inverse...
S&P index up 2%. Largest gain since January 6
S&P index trades to a new high and looks toward swing areaThe major US stock indices remain well elevated. The S&P index is now up over 2% at 4500. That's the highest level since September 14 when the high price extended to 4511.99. That is the next target....
Cleveland Fed November core CPI +0.29%
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,...