Iranian Foreign Minister Hossein Amir Abdollahian is in Beirut and spoke at a press conference.I offer congratulations from the Palestinian people on Operation Al-Aqsa Flood"Al-Aqsa Flood" was the terrorist attack targeting civilians in Israel carried out by Hamas...
Forexlive Americas FX news wrap: Yields and dollar spike after terrible bond auction
Markets:S&P 500 down 0.7%WTI crude oil flat at $83.51US 10-year yields up 10.4 bps to 4.70%Gold down $5 to $1868USD leads, AUD lagsThe geopolitical premium in the bond market has quickly left as the situation remains contained to Israel-Palestine, at least so far....
More from Fed’s Collins: Resilient economy means higher rates for longer
Federal Reserve Bank of Boston President Susan Collins spoke earlier:She went over similar ground to her comments the previous day:Adding more now, from the Q&A: Resilient economy is why rates will need to say higher for longerIs carefully watching commercial real...
Brent crude oil – the demand worries vs. supply worries continue to play out
Oil gained in Thursday trade, those more worried about supply issues were the winners for the day. The supply worries centre on OPEC/Russia output cuts and the ramifications of terrorist attacks on Israel on Middle East stability. Demand worries focus on global...
US indices snap 4-day win streak as concerns about CPI and US debt increase fear
The major US stock indices are closing lower as CPI data was a bit higher than expectations and then the lower demand for the 30 year auction reminded traders that the US treasury supply is not going to be lower anytime soon, and if you start losing buyers (like the...
Economic calendar in Asia Friday, 13 October 2023: Chinese inflation and trade data
The data from China is the focus. The reports we've had on the low, low, low level of inflation (and the anecdotal evidence that Chinese shoppers don't believe the data) means the trade data will grab the most attention. China's economy is showing tentative signs of...
Trade ideas thread – Friday, 13 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,...
Fed’s Collins: Bond yield rise likely reduces need for near-term Fed hike
Fed is at or near the rate hiking cycleToo soon to take prospect of additional hike off the tableBond yield rise likely reduces need for near-term Fed hikeLatest CPI underscores uneven progress towards 2%Current monetary policy phase calls for patienceToo soon to say...
The USD is surging after stronger CPI, a crummy auction and a surge in yields
The US CPI data this morning pushed the dollar higher, AND now the crummy 30-year bond auction has exasperated the push higher in the greenback sending major currency pairs against the US dollar through technical levels in the process. Bond yields are higher. Stocks...
Why the signals from the bond market are truly terrifying
Here's the illustration of the problem:US 10 year yields, dailyUS 10-year yields are rising at a rapid pace. US 10-year yields have risen to 4.70% from 4.0% since early August.The moves have come despite stable market-measured inflation and Fed expectations. Aside...
Ugly Treasury auction sends the dollar even higher
There was a nearly 4 basis point tail on the 30-year sale. That's certainly going to add to the term premium argument.It's highly unusual for a bond auction to miss this badly and it argues for a return to the highs in yields.US 5 minsYesterday's 10-year auction also...
US treasury to auction off $20 billion of 30 year bonds (reopening) at the top of the hour
The US treasury will auction off $20 billion of 30-year bonds (reopening) at 1 PM ET. The six-month averages of the key components used to gauge demand from both domestic and international investors shows:High Yield: Previous was 4.345%.Tail: Previous was 1bps, the...
NZDUSD falls to MA support. Do buyers stick a toe in the water here?
The NZDUSD has fallen to moving average support after the stronger-than-expected US CPI data. The NZDUSD and the AUDUSD are battling each other for the biggest mover vs the greenback with a move of about 1.2%.That move (to the downside) has now seen the pair approach...
European stock indices mixed. Italy and UK indices close higher
The major European stock indices are closing the session with mixed results. Italy and UK indices close higher. German, France, Spain close lower:German DAX, -0.23%France CAC, -0.37%UK's FTSE, 100 +0.33%Spain's Ibex, -0.26%Italy's FTSE MIB, +0.28%Portugal's PSI20,...
Timiraos: Good news…Core inflation has slowed. Bad news… Inflation settling at 3%
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,...
Cable gives back two days of gains, nears 1.2200
The pound came into the day riding a six-day winning streak against the US dollar.USD was sliding on the hope that long-dated rates had peaked and that the Fed would have plenty of room to cut next year. The latest data paints something of a different picture with...
EIA weekly US oil inventories +10176K vs +492K expected
Prior was -2224KGasoline -1313K vs -800K expectedDistillates -1837K vs -802K expectedRefinery utilization -1.6% vs -0.4% expectedImplied mogas demand 8.58m vs 8.01m priorDomestic production 13.2 mbpd vs 12.9 mbpd priorAPI data released late yesterday:Crude...
USDCAD corrects higher and extends to 200 hour MA. Can the MA level be broken?
The USDCAD has moved higher today helped by the US CPI data. The price extended above its 100 hour moving average at 1.3613 and has moved up to test its 200 hour moving average 1.3660. Yesterday and earlier this week, the price stalled again sets rising 200 bar moving...
Hotter US Inflation Reignites EUR/USD Downtrend, EUR/GBP Eases
Euro (EUR/USD, EUR/GBP) AnalysisMinutes Suggest the ECB is Content with Rates, Focused on the EconomyECB minutes revealed it was a close call to raise interest rates for the tenth and possibly last time, the last time the Governing Council met. The majority of...
EIA weekly US natural gas storage +84 bcf vs +88 bcf expected
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,...