Bank of Canada Governor Macklem spoke earlier:He's still dropping the odd comment:Low growth, higher rates will impact the government budgetProtecting Canada's very good fiscal position is important Senior Deputy Governor Rogers also:Governing Council has not started...
Forexlive Americas FX news wrap: USD/JPY sinks ahead of the BOJ decision
Markets:Gold down $10 to $1995US 10-year yields up 4.3 to 4.89%S&P 500 up 48 points to 4185, or 1.2%WTI crude oil down $3.10 to $82.44AUD leads, USD lagsThe US dollar was soft today and I highlighted three reasons why earlier: 1) Diminishing geopolitical risk...
Economic calendar in Asia Tuesday, 31 October 2023 – Bank of Japan statement due
It's a packed data agenda ahead, the highlight is the Bank of Japan statement. There is never a scheduled time for the release of the Bank's statement. Its likely to be sometime in the 0230 to 0330 (GMT) time window (10.30 to 11.30 pm US Eastern time). Expectations of...
Trade ideas thread – Tuesday, 31 October 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,...
At the close: US equities strong out of the gate
SPX dailyHappy Monday.Almost every Monday is a good day in the stock market for the past few months as this gain stretches the streak to 16 of the past 18 Mondays. We started strong, had a big dip midday and then finished strong and near the highs.Closing...
BOC’s Macklem: Further easing in inflation is likely to be slow and risks are high
We held policy steady because mon pol is working to cool the economy and relieve price pressuresWe continue to assess whether mon pol is sufficiently restrictiveIf inflationary pressures persist, we are prepared to raise our policy rate further to restore price...
S&P 500 stretches to the best levels of the day
The S&P 500 has declined just twice in the past 18 Mondays.The bidding has been powerful today, initially led by tech but broadening later in the day. The S&P 500 is up 1.4% to 4191, erasing all of Friday's decline and much of the drop on Thursday.SPX dailyThe...
US quarterly financing $776 billion in October-December period
I believed expectations for this number were for $863 billion, so if so that's considerably lower, though I would be careful with that.Expects to borrow $816 billion in Jan-March periodWill maintain cash balance of $750 billion in both quartersIn July-Sept quarter,...
Oil falls $3 as geopolitical fears ebb
The theme of the day in global markets is 'sell the fact' on the Gaza ground invasion because it hasn't expanded into a broader regional war, at least not yet.Oil is basically back to where it was before Hamas terrorist attacks after several days of chopping back and...
GM reaches deal to end US auto strikes
Reports earlier today highlighted a tentative deal at General Motors to end the UAW auto strikes in the US after six weeks. It comes quickly after separate deals with Stellantis and Ford and includes similar terms like a 25% wage increase over several years,...
Goldman Sachs: BOJ meeting expectations and the impact on USD/JPY
USDJPY dailyTwo big Japan events are forthcoming this week: the October Bank of Japan (BoJ) meeting and the Ministry of Finance’s (MoF) official intervention data release for October. Goldman Sachs predicts that the BoJ will maintain its policy in Tuesday's meeting,...
European equity close: Gave some back but still higher to start the week
> European equity close: Gave some back but still higher to start the week Closing changes for the main equity bourses <!--> --> <!--> STOXX 600 dailyClosing changes:Stoxx 600 +0.4%German DAX +0.1%UK FTSE 100 +0.5%French CAC +0.4%Italy MIB +0.1%Spain...
Brent Crude Oil Starts the Week on the Back Foot as ‘War Premium’ Subsides
Oil (Brent Crude) News and AnalysisThe weekend premium was deflated on Monday as markets look to the FedOil heads lower after respecting resistance at $89 a barrelEU data underscores growth slowdown in major economiesThe analysis in this article makes use of chart...
Three reasons behind today’s US dollar weakness
US dollar indexThe US dollar is near the session lows across the board today, in a reversal of the recent trend. Here are three reasons why:1) Sell the fact on the Gaza ground invasionThe events in the Middle East this month have been awful but when it comes to war,...
Geopolitical Tensions Roil Energy Markets and Precious Metals
Global markets have been gripped by escalating tensions in the Middle East, with particular focus on the ongoing conflict between Israel and Hamas. Oil prices, which had slightly eased last week, are once again on edge due to concerns that the conflict might disrupt...
USD/JPY falls through 149.00 as Bank of Japan angst builds
USDJPY 1 hourUSD/JPY has fallen to the lowest since October 11 on signs that Bank of Japan will boost its yield cap above 1%.On Friday, two reports said the BOJ was planning to boost its inflation forecasts and today, Nikkei reported that the central bank will...
Dallas Fed October manufacturing index -19.2 vs -18.1 prior
Details:Output (production) +5.2 vs +7.9 priorNew orders -8.8 vs -5.2 priorEmployment +6.7 vs +13.6 priorOutlook -17.1 vs -17.5 priorPrices paid for raw materials +13.6 vs +25.0 priorPrices received -2.1 vs +1.8 priorWages +24.4 vs +34.8 priorComments in the...
BOJ to consider policy tweak to allow 10-year yields to exceed 1% — report
USDJPY 30 minsUSD/JPY is falling on a Nikkei report.The Bank of Japan is set to consider a further adjustment to its yield curve control (YCC) framework at Tuesday's monetary policy meeting, potentially allowing 10-year Japanese government bond yields to rise above...
Nasdaq surges as war fears unwinds
Nasdaq Comp dailyThe rout in the Nasdaq late last week is unwinding as the market gets a (somewhat) clearer view on the Middle East.Israel started its ground offensive late on Friday and it didn't trigger the opening of a second front, at least not yet. It also...
The economy according to McDonald’s
MCD dailyMcDonald's reported earnings today and shares are trading close to flat.Here are some comments from the company:Overall had a slight dip in traffic in Q3Traffic from low-income consumer was negative across industry but McDonald's continued to have traffic...