Markets:Gold down $1 to $1859US 10-year yields down 12.9 bps to 4.65%WTI crude down 59-cents to $85.79S&P 500 up 0.6%GBP leads, JPY lagsThe levers that are driving markets remain elusive and that was especially true today on a day that didn't have any real...
USDJPY tilt is a little more to the downside in the short term, but sellers are on alert
USDJPY trades back below the 100 hour MA. Bearish.The USDJPY moved higher into the US session today, and in the process moved between the 100-hour MA (blue line at 148.83) and the 200-hour MA (green line at 149.129). The high price reached 149.09 which was just above...
Economic calendar in Asia 11 October 2023 – Reserve Bank of Australia speech
The speech by Christopher Kent, Assistant Governor (Financial Markets) at the Reserve Bank of Australia is titled "Channels of Transmission' and will be of note for how the RBA is responding to inflation pressure in Australia.The Bank has paused its rate hike path for...
Trade ideas thread – Wednesday, 11 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 Kashkari: Inflation is headed down
Kashkari is speaking on a moderated panel, so more comments could tick in.I'm optimistic we can shrink the Fed's balance sheet back to pre-crisis trend lineWe are seeing higher long-term Treasury yields but not higher inflationReason for rise now in 10-year yield is a...
Goldman Sachs: Wait-and-see approach for the US dollar
Synopsis: Goldman Sachs adopts a cautious stance on the USD, indicating that the market seems to be in a 'wait-and-see' phase following a significant reassessment. Strong US growth and employment data currently prevent the Dollar from weakening, and looking forward, a...
Crude oil futures settle at $85.97
The price of WTI crude futures settled at $85.97. Down -$0.41 or -0.47%.The decline comes after yesterday's 4.34% surge on the back of the Mideast tension. That move to the upside took the price back above the August 10 high of $84.85. In trading today, the low price...
Biden: American citizens are among those being held by Hamas
US has enhanced military force posture in the region, ready to do moreOur message to anyone looking to take advantage of the situation: Don'tWe will make sure that Israel has what it needs to defend itselfWe uphold the laws of warWill ask Congress to take urgent...
Thursday’s CPI report is the highlight of the US economic calendar this week
US core CPI year-on-year (%)The economic calendar this week builds up to Thursday's US CPI report.TD Bank forecasts a continued "soft" core-price inflation for September, mirroring the previous month's 0.3% m/m increase. Notable changes are expected in goods inflation...
Timiraos: Higher long-end yields likely to extend Fed pause
WSJ Fed whisperer Nick Timiraos is out with his latest.a run-up in long-term interest rates might substitute for a further central bank rate hikeif the run-up in the 10-year Treasury yields to their highest levels since 2007 persists, those increases could substitute...
Fed’s Waller: Will ‘stay on the job’ to achieve 2% inflation objective
Fed's WallerFed is determined to bring inflation down to 2%Full speechThere is nothing particularly notable in the initial comments, which didn't directly address monetary policy or the outlook for the economy. Here is the conclusion portion of the speech: I think it...
The US treasury sells $46 billion of 3-year notes at a high yield of 4.74%
High Yield: 4.740%Previous: 4.660%Six-Auction Average: 4.217%WI at the time of the auction: 4.723%Tail: 1.7 basis pointsPrevious: 1.0 bpsSix-Auction Average: -0.6bpsBid-to-Cover: 2.56XPrevious: 2.75xSix-Auction Average: 2.79xDealers: 22.09%Previous: 20.2%Six-Auction...
Atlanta Fed GDPNow estimate for Q3 growth rises to 5.1% from 4.9% previously
The Atlanta Fed GDPNow model for Q3 growth rises to 5.1% from 4.9% previously.In their own words:The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2023 is 5.1 percent on October 10, up from 4.9 percent on October...
US treasury to auction off $46 billion over 3 year notes at the top of the hour
The U.S. Treasury will auction off $46 billion of the 3 are not at the top of the hour. The key components of the previous and the 6 month averages of those components are found below. Traders will use the six-month averages to gauge demand from domestic/international...
GBPUSD looks toward 50% retracement target. Key target to get to and through now.
The GBPUSD is trading to a new high going back to September 22, and in the process is stretching toward its 50% midpoint of the move down from the September 11 high. That level comes in at 1.22919. Getting above that level increases the bullish bias from a technical...
Xsolla Headless Checkout Unlocks Advanced Customization For Game Developers
Xsolla, a global video game commerce company, announces Headless Checkout, an advanced payment customization feature to help game developers create a fully branded and revenue-optimized purchasing experience for their players, all while ensuring a compliant and secure...
EURUSD making a break for it. Find out by watching this video.
In this video, I take a look at the EURUSD as buyers make a play above key resistance on both the hourly and the daily charts. Find out what levels have been broken and why they are so important by watching this short video. EURUSD buyers are making a playMoneyMaker...
AUDUSD trades up and down today, but holds support area on dip
The AUDUSD has been trading up and down in trading today, and in the process stalled the falls near the 50% midpoint of the move down from the end of September high, and a swing area between 0.6379 to 0.6387. What next? In this video, find out the technicals driving...
European equity close: Booming day, huge gains
It has been a struggle lately for European equity markets but this is a major change in fortunes as the market jumps on the idea of a peak in rates.Closing changes:Stoxx 600 +2.0%German DAX +1.9%UK FTSE 100 +1.9%French CAC +2.0%Italy MIB +2.4%Spain IBEX +2.3%This...
US equities continue to sizzle
The S&P 500 has extended its gain to 1.0% on the day on a renewed bid in Treasuries. US 10-year yields are now down 13.7 bps on the day to 4.46%, not far from the lows of the day.The market is increasingly leaning towards peak Fed fund and the rising possibility...