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 says the Federal Reserve will factor in ‘unrest in the Middle East’
Federal Reserve Bank of Boston President Susan Collins spoke earlier. In a nutshell said that while the odds of the economy escaping a recession have grown, it’s possible the central bank is not done with interest rate hikes aimed at bringing inflation back to its...
RBNZ Gov. Orr says OCR will need to stay at restrictive levels for the foreseeable future
Reserve Bank of New Zealand Governor Orr:Official Cash Rate (OCR) from 2% to 5.5% ... the most rapid increase in the Reserve Bank’s history ... the effects of this are flowing through as anticipated to our economyOCR will need to stay at restrictive levels for the...
Russia has reimposed various capital controls to try to stem the ruble’s slide
Remember all the dedollarization hype? I hope y'all didn't plunge your savings into yuan and ruble. Speaking of plunge, its been pretty much one-way traffic for the PutinDollar:The Kremlin has moved to try to stem the losses for the currency. announced that 43 of the...
FOMC: Restrictive Policy for Some Time
USDIndex on Wednesday [11/10] fell -0.04% and recorded a 2-week low, while declining bond yields on Wednesday weakened the dollar as the yield on 10-year T-notes also fell to a 2-week low. In addition, the strength of stocks limited liquidity demand for the dollar....
Forexlive Americas FX news wrap 11 Oct: FOMC minutes show time to shift started to steady
The USD is closing today mixed. US stocks moved higher for the 4th consecutive day led by the NASDAQ once again . US yields moved lower out the curve.Near the start of the US trading day, the US PPI data was released and came in stronger than expectedData highlights...
Fed’s Collins says FOMC is at or near the peak of the rate hike cycle
Federal Reserve Bank of Boston President Susan Collins gives 2023 Goldman Lecture in Economics, "Reflections on Policymaking Amidst (Pandemic) Uncertainty".Headlines via Reuters: Fed is at or near peak of rate hike cycleFurther rate hike could be warranted depending...
Private oil survey data shows a huge headline crude, order of magnitude more than expected
The inventory data from the private survey is out now, official data follows Wed. morning (US time).more to come--Expectations I had seen centred on:Headline crude +0.5mn barrelsDistillates -0.8 mn bblsGasoline -0.8 mn--This data point is from a privately-conducted...
Major US stock indices close higher for the 4th consecutive day
The US major indices are all closing higher with the NASDAQ index leading the way once again. The indices are all up for the 4th consecutive day. Technically, the tech-heavy NASDAQ index moved back above its 100/50 day MAs. The 100-day moving averages at 13602.23. The...
Economic calendar in Asia 12 October 2023
Lower tier data releases only, Asia FX will be content to wait for US CPI data due at 8.30 am US Eastern time on Thursday, 12 October.This snapshot from the ForexLive economic data calendar, access it here.The times in the left-most column are GMT.The numbers in the...
Trade ideas thread – Thursday, 12 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,...
What are the stakes for Thursday’s US CPI report?
The highlight of the week on the US economic calendar is Thursday's consumer price index report.Importantly, this report is the anniversary of the September 2022 CPI report and that one marked the bottom of the Nasdaq. On that day, the US reported a hotter CPI report...
WTI crude oil futures settle at $83.49
The price of WTI crude futures are settling at $83.49. That's down $-2.48 or -2.88%. The low price today reached $83.17. The high price was at $86.48.Crude all tests key swing areaTechnically looking at the daily chart above, the price moved back into a key swing area...
AUDUSD moves toward the neutral technical area
AUDUSD moves to the high of the neutral technical areaThe AUDUSD has traded to a new low and in the process has moved to the high of a neutral area with the:200-hour moving average of 0.6373 at the low (green line in the chart above), and the 100-hour moving average...
FOMC minutes: Participants judged that risks had become more two-sided
AI imageThe Fed left rates unchanged at the Sept meeting.Headlines from the minutes (full text):Many participants saw downside risks to economic activity and upside risks to the unemployment rateVast majority of participants just future path of economy as highly...
FOMC minutes coming up next — dollar near the highs
The day started with talk of the Dollar Index breaking support levels but it's turned around and is now higher on the day. The Fed minutes are rarely a sustained market mover and the last meeting was before the big move-up in yields some I'm struggling to see how this...
NASDAQ index gives up gains. Trades marginally lower
The Dow industrial average and S&P index had already moved into negative territory on the day. The NASDAQ index has now pushed into the red for the 1st time today. The low price just reached 13560.08. That took the index down -2.76 points. Its high water mark for...
USDJPY moves to a new session high. Tests the high from Monday
USDJPY moves away from it 200 hour moving averageThe 10-year note auction was sloppy and had spotty demand with a 1.8 basis point tail. As a result, yields have moved a little higher. The 10-year yield is still down -3.9 basis points at 4.615%, but well off the lows...
USD/JPY climbs to the highs of the day after a weak Treasury auction
Today's Treasury auction wasn't good news for risk assets or the Japanese Ministry of Finance.The yield was 1.8 bpd above what was expected, despite a solid concession in the hours leading up to the sale. The US sold $35 billion and the market is seemingly finding...
US sells 10-year notes 4.610% vs 4.592% WI
Highest yield since 2007Prior was 4.289%Bid to cover 2.50 vs 2.52 priorThere hasn't been a stop-through since February so this is right on brand. There was some USD/JPY buying ahead of the sale but watch out for more because a concession was built into the sale and it...