Federal Reserve Chair Jerome Powell brief introductory remarks before the 2023 Moynihan Lecture in Social Science and Public Policy event.As the headline says, nothing from him on policy nor his outlook for the economy. It's the middle of blackout so this is not...
META schmeta …. check out USD/JPY!
USD/JPY is inching higher after it (finally) took out 150.Earlier this week, in the VERY early hours of Monday the top hit was 150.14 before it dropped back. The trade taking place at that time was basically robot-to-robot. It won't be disp;laid on most available...
META Q3 2023 EPS USD 4.39 (beats estimate of 3.65)
> META Q3 2023 EPS USD 4.39 (beats estimate of 3.65) <!--> --> <!--> --> Meta earnings:Revenue $34.15b, est. $33.51bnEPS $4.39, est. $3.60 Ad revenue $33.64b, est. $32.94bnFacebook monthly active users 3.05bn, est. 3.058nFacebook daily active...
Economic calendar in Asia Thursday, 26 October 2023 – RBA Governor Bullock speaking
Reserve Bank of Australia Governor Bullock will be appearing in parliament, before the Senate Economics Legislation Committee.I'm listening out for hawkish comments after yesterday's upside surprise for inflation:Despite the Fed blackout period, Federal Reserve Chair...
Trade ideas thread – Thursday, 26 October 2023
Good morning, afternoon and evening all. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so: USD/JPY looking more determined above 150 this time, be on the lookout...
NASDAQ index has its worse trading days since February 21
The NASDAQ index got hit hard with the major index falling the most since February 21.The index fell -2.43%. That represents the 2nd worst trading day of the calendar year. On February 21 the index fell -2.50%.Although Microsoft rose near 3% on the day after its...
USD/JPY rises above 150.00
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,...
CIBC sees the Bank of Canada cutting rates by 150 basis points next year
The Bank of Canada left rates unchanged today at 5.00% but maintained a hawkish bias. CIBC thinks current rates will be enough to restrain inflation as mortgage resets work their way through the economy."We'll stick to our view that the Bank of Canada has already...
USDCHF pushes against 200 hour MA
The USDCHF is higher in the day,, near its high for the day and pushing against its 200-hour moving average (green line on the chart above). That moving average comes in at 0.8965. The current price is trading at 0.8962. The last 4 hourly bars have been banging...
Australian dollar isn’t getting much help from inflation or China stimulus. Ugly day.
If I were to tell you that Australia would have a hot inflation report and China would announced a jump in deficit borrowing, you would be excused for rushing to buy the Australian dollar.AUDUSD daily chartThat looked to be a good trade yesterday and initially on the...
Video: Is there anywhere to hide?
I spoke with Dale Pinkert from TradeGateHub today about four spots that provide some level of cover in a market where almost everything is vulnerable.Other things we talked about:The risks in the Middle East and why I'm watching Iran so closelyThe end of the era of...
Biden warns Iran that if US troops are attacked, the US will respond
The fear in markets is that a war in Gaza turns into a war between the US and Iran.Biden was asked about Iran and US troops being injured and said:"We have had troops in the region since 9/11 to go after ISIS... having nothing to do with Israel at all. My warning to...
Biden: What comes next has to be a two-state solution
We have to remember that Hamas does not represent the vast majority of PalestiniansThere is a need to work towards a greater integration of IsraelMy instinct is that Hamas attack was carried out due to progress of integration of IsraelExtremist settlers attacking...
Mike Johnson elected House Speaker
Republicans unanimously backed Mike Johnson in a surprise turnaround to unite a divided party. It looked hopeless a day ago.Johnson is a Louisiana Republican was first elected to the House in 2016 and serves as vice chairman of the House Republican Conference, as well...
Bonds can’t even catch a bid in this environment?
This is one of the worst markets I can remember: There is nowhere to hide.Stocks are utterly puking with the Nasdaq Composite down 2.5% after poor earnings from Google and some others. Oil is rallying, presumably because the market is worried about Iran again after a...
Stocks continue tumble. NASDAQ down the 300 points
The stock tumble continues with the NASDAQ now down over 300 points. The index is currently down 306 points or -2.33% at 12833.50. The largest decline this year was a decline of -2.5% on February 21. The S&P index is now down 62.2 or -1.47% at 4185. It's 38.2%...
Israeli PM Netanyahu: We are preparing for a ground invasion
Israeli PM net now who is speaking and says:Doing everything possible to bring hostages homeWe are preparing for a ground invasionI want to give the detailsTiming of the invasion will be reached by consensus.Civilians in Gaza should move to the SouthWe encourage...
Meanwhile the vote for Speaker of the House has begun
The vote for the Speaker the House has begun. A total of 217 votes are needed to be elected to the post. Watch the Other votes for clues. If that moves above 4, it will likely signal a failed vote. Helping is that Johnson is although he is not a moderate conservative,...
US treasury auctions off $52 billion of 5 year notes at a high yield of 4.899%
The US treasury auctioned off the $52 billion a 5 year note at a high yield of 4.899%WI level at the time of auction was 4.88%Tail 1.9 basis points. The six-month average was -0.4 basis pointsBid to cover came in at 2.36Xversus six-month average of 2.99XDealers 19.4%...
New lows in stocks. Nasdaq now down -2%. The S&P is below 4200 level.
Nasdaq is now down 2% on the day which is the largest decline since August 2 when the index fell -2.17%. The 38.2% retracement target comes in at 12781.90. The 200 day moving average comes in at 12767.47.S&P index is now below the 4200 level at 4195.47 down...