Analysts at Barclays say the market response to the false news from Monday on the BTC ETF approval is guidance on what is to come once real approval has been granted:we continue to see limited P&L benefit to Coinbase(but) we view this (the response to the false...
Jordan has cancelled the summit meeting in Amman with Biden, Egypt and Palestinian leaders
In response to the brutal Hamas attack on a hospital in Gaza.hundreds of Palestinians were killedJordan has cancelled the summit meeting that was scheduled between US President Biden, Palestinian President Mahmoud Abbas and Egyptian President Abdel Fattah al-Sisi in...
US Congressman Jordan says the House will vote for speaker at 11am Wednesday, 18 October
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 Kashkari says inflation is still too high
Fed Minneapolis President Neel Kashkari is speaking on "The Intersection of the Federal Reserve in the Health Care Sector" before the 15th Annual David A. Rothenberger Lecture event hosted by the University of Minnesota Medical School.Kashkari has been in the...
China data due today includes Q3 GDP and September Industrial Output, Retail Sales, & more
I posted a screenshot of the expected and priors here earlier, here it is again:We go into the data with a relatively sedate yuan, its been fairly flat against the USD for weeks now. This is nearly all due to the efforts of the People's Bank of China, the Bank has...
Forexlive Americas FX news wrap: Yields jump as retail sales beat, dollar volatile
Markets:Gold up $3 to $1922WTI crude oil up 65-cents to $87.31US 10-year yields up 13 bps to 4.84%S&P 500 flat, Nasdaq -0.3%AUD leads, CAD lagsThe retail sales report highlighted -- once again -- that you can't underestimate the spending power of the US consumer....
Can we expect a rebound in U.S. markets by the end of the year?
The U.S. economy is slowing, but there is no talk of a significant collapse or worse. The labor market also continues to hold up despite all the headwinds. Finally, inflation, albeit with some fluctuations, is somewhat under control.Against the backdrop of such...
Mixed close for the major indices today
The major indices are closing mixed/near unchanged. The NASDAQ index was the biggest mover with a -0.25% fall.The final numbers are showing:Dow industrial average +13.11 points or 0.04% at 33997.64S&P down 0.41 points or -0.01% at 4373.21NASDAQ index -34.25 points...
Economic calendar in Asia Wednesday, 18 October 2023: RBA Gov Bullock speech, China data
Stay tuned for a cozy time for what's billed as a:Fireside chat with Michele Bullock, Governor, at the AFSA Annual Summit Panel, SydneyLater we will return to the real world with some numbers, believe 'em or not, out of China's economy - the monthly 'activity data'....
Trade ideas thread – Wednesday, 18 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,...
USDJPY traders want no part of the 150.00 level
As US yields rise, the 2-year yield is up by 12 basis points at 5.218%, and the 10-year yield is up by 13.7 basis points at 4.846%, both on track to close at their highest levels since 2007. Despite the USDJPY's recent upward movement, traders appear hesitant to...
CPI report means the the Bank of Canada probably won’t need to hike again – CIBC
The Canadian dollar initially fell broadly after today's CPI report but it's since rebounded in broad, choppy FX trading today. CIBC has been hinting at a forecast for one more Bank of Canada rate hike but they're aren't leaning that way after today's CPI, which With...
WTI crude oil settles unchanged at $86.66
The price of WTI crude oil futures is settling at $86.66. That's unchanged on the day.The high price today reached $87.43. The low price was at $85.65. Technically, there is support against the August high at $84.85 and there is resistance against a swing area near...
Mexico said to be working on the ‘hacienda hedge’
Each year around this time (though usually a bit later), Mexico sells massive amounts of oil futures to hedge its year-ahead production. A newswire report suggests that's now underway.The selling could explain some of the recent oil declines. The report says "is...
US 5-year yields break the cycle high, risk trades fade
Did the market just learn that House Republicans are a loose coalitions of unbending hardliners?It's tough to make sense of these market moves but the bond market has been unflinching today and it's getting worse. US 5-year yields are now up 16.6 bps on the day and...
Jim Jordan won’t be speaker on the first vote
It took Kevin McCarthy 15 votes to get elected as speaker so it's not over for Jordan but we'll see how it goes from here. Congress is voting and he's already lost 9 votes, which is more than the 5 he could afford to lose.Don Bacon Lori Chavez-DeRemer Anthony...
Market levels as the vote for US Speaker of the House begins
As the 1st vote for U.S. House Speaker begins between Jordan and Jeffries has begun, the US dollar is mixed/little changed. In other markets:Dow industrial average is up 40 points or 0.12% at 34024.99S&P is up 6.36 points or 0.15% at 4379.98NASDAQ index is up 4.83...
EURUSD stretches to a new high
EURUSD moves higher and away from 100/200 hour MAThe EURUSD is stretching to a new high and in the process is approaching the 1.0600 natural resistance level. The high has reached 1.05943 so far. In my previous video, a spoke to the extension back above the 100 and...
Atlanta Fed GDPNow estimate for 3Q growth came in at 5.4% up from 5.1% previously
The Atlanta Fed GDPNow estimate for Q3 growth came in at 5.4%. That was higher than the 5.1% at its last estimate:Atlanta GDPNow estimate for Q3In their own words:The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of...
GBPUSD moves toward 100/200 hour moving averages
GBPUSD approaches MA targets. Key bias defining levels.The GBPUSD has pushed above the high reached before the better-than-expected retail sales near 1.2190, and in the process has moved closer to the falling100-hour movie average (blue line) at 1.22096 and its rising...