NBC report on wounded US military personnel, citing information received from U.S. Central Command20 US personnel sustained minor injuries on Octoner 18 when at least two one-way attack drones targeted al-Tanf military base in southern Syria1 of the drones was shot...
JPMorgan CEO Dimon said central banks got forecasts “100% dead wrong”
Dimon was speaking as part of a panel at the Future Investment Initiative summit in Riyadh, Saudi Arabia.He said global central banks got financial forecasting “100% dead wrong” about 18 months ago. This means they should have some humility about the outlook for next...
Preview of Australian Q3 CPI data due today – risks skewed to the upside
Commonwealth Bank of Australia forecast for today's Q3 Australian inflation report.the data is due at 0030 GMT (2030 US Eastern time)In brief:We forecast headline CPI rose by 0.9% in Q3 23 ( 5.1%/yr)Trimmed mean CPI is expected to have increased by 1.0%/qtr...
Oil – private survey of inventory shows a large headline draw vs. small build expected
This is from the privately surveyed oil stock data ahead of official government data tomorrow morning out of the US.--Expectations I had seen centred on:Headline crude +0.2mn barrelsDistillates -1.2 mn bblsGasoline -0.9 mn--This data point is from a privately...
Visa touts a resilient consumer
The consumer is doing just fine.Here is what Visa CEO Ryan McInerney said in the earnings release:"We reported another quarter of strong results, reflecting stable business trends. Consumer spending remained resilient, driving growth in payments volume and processed...
Forexlive Americas FX news wrap: US dollar reasserts itself
Markets:Gold down $1 to $1971US 10-year yields down 2 bps to 4.81%WTI crude oil down $1.75 to $83.75S&P 500 up 0.7%AUD leads, EUR lagsThe euro and sterling charts are a mirror image of yesterday as the dollar rebouned on rising yields and soft eurozone PMIs....
Major indices close higher. NASDAQ up for the 2nd consecutive day.S&P snaps five-day slide
The major US stock indices are all closing higher. The gains are led by the NASDAQ index which is up around 1%. The NASDAQ index has risen for 2 consecutive days. The S&P index snapped a 5-day skid. The Dow industrial average broke its 4-day slide.A snapshot of...
Economic calendar in Asia Wednesday, 25 October 2023 – Australian Q3 inflation data
The eagerly awaited Q3 CPI from Australia is due at 11.30am local time:0030 GMT 2030 US Eastern timeHigher than expected CPI will fuel the potential from a Reserve Bank of Australia rate hike at its next meeting on 7 November. Australia's employment market is solid...
Trade ideas thread – Wednesday, 25 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,...
FXGT.com’s 20K JPY No Deposit Bonus Is Live
FXGT.com has added to its promotional lineup with the launch of a brand new No Deposit Bonus. From today until Monday 30th October 2023 at 11:00 (GMT +3), traders can claim a bonus, upon successful completion of their account verification process.To be eligible for...
Stimulus boosts Chinese stocks, eyes on the upcoming session
KWEB dailyShares of US-listed Chinese ETFs are as much as 4.4% higher today after a broad stimulus push from Beijing.Chinese President Xi Jinping visited the central bank and largest sovereign wealth fund today for the first time. It came with the approval of a boost...
Crude oil lower for the 3rd consecutive day
The price of crude oil fell for the 3rd consecutive day. Today the settlement price for the day came in at $83.74 down $-1.75 or -2.05%. That decline comes on the back of a fall of -2.94% yesterday and a fall of -0.33% on Friday. The price action is volatile as market...
The stakes are remarkably high as forecasts for 2030 oil demand diverge wildly
The IEA was out with its annual energy outlook today, in what's always a big event for oil market.I want to focus on 2030 estimates and how they wildly diverge -- just over six years from now. That's hardly time to build out the infrastructure for either a world of...
EURJPY reaches a new 15 year high today, but backs off
EURJPY extends to highest level since 2008The EURJPY extended above the high price from August 30 at 159.756 and in the process reached a new high at 159.908 going back to August 2008. That's a 15-year high for the pair.The problem is, the high could only reach 14...
US dollar gives some back as volatile trade continues in
The intraday chart of USD/CAD highlights the peak in dollar at the time of the latest Treasury auction and then giving some back afterwards as strong demand for bonds materialized.USDCAD intradayAnother substantial move has been in gold, which is now up $3 to $1976...
Atlantic hurricane season winds down without fanfare
October is winding down and Hurricane Tammy is spinning back towards the mid-Atlantic and Tropical Depression 21 is petering out.The next big event on the US climate agenda is El Nino and the mild weather it's suspected to bring to the northern half of the...
Japan weighs one-time $267 per person tax cut – report
The ruling Japanese LDP is considering a one time reduction of 40,000 yen per person in taxes as part of an economic stimulus package, according to NIkkei. Both taxpayers and their dependants would qualify so the extra money could be significant for a...
US sells 2-year notes at 5.055% vs 5.055% WI
Prior was 5.085%The sale of 2s was right on the screws and -- importantly -- the yield was sequentially lower than last month's sale. There was a concession earlier today that pushed 2s all the way to 5.13% but as equity sentiment cooled in the past two hours and oil...
U.S. Treasury to auction off $51 billion of two-year notes at the top of the hour
The U.S. Treasury will auction off $51 billion 2-year notes at the top of the hour. Note that the coupon auctions are judged by investor demand. Of late the auctions have been sloppy with larger tails (the difference between the WI or When Issued level right before...
As stock gains are eroded, so are yield rise out the curve
The broader indices are eroding their gains. The S&P index is now up only 4.7 points or 0.11% at 4221.67. The NASDAQ index is up 7.4 points or 0.06% at 13027. At session highs, the S&P was up 42.35 points. The NASDAQ index was up 152.06 points.While stock...