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Fed’s Bostic: Inflation has improved considerably, still a long way to go
Fed's BosticWe're in a good place for us to get to 2% inflationThere's certainly more for us to doI don't have a recession in my dot plotWe don't have to increase rates any furtherIf things come in differently from my outlook, we might have to increase rates but...
Major US indices marginally higher to start the trading day
The major US stock indices are trading marginally higher adding to the gains from Monday's trade. A snapshot of the market currently shows:Dow industrial average up 63 points or 0.19% at 33667.90S&P index up 7.58 points or 0.17% at 4343.23NASDAQ index up 16.26...
What’s on the Federal Reserve agenda today
Yesterday the Fed's Jefferson and Logan indicated a higher chance that the Fed is done hiking, due to higher long-end yields. That helped to boost risk trades but we'll need to hear from some more people for the market to feel better about the terminal top.At the...
BDSwiss Solidifies its Stance as an Industry Leader in 2023
2023 has been a challenging and unpredictable year in the FX industry. However, amid this uncertainty, there has remained one constant – BDSwiss. The brokerage has continued to rack up accolades, winning numerous awards and achievements this past month. In doing so,...
USDCHF finds support buyers on the dip just ahead of the 200 day MA. What next?
The USDCHF dipped to a low of 0.9033 today and in the process got within 5-6 pips of the key 200 day MA. Support buyers leaned against the key MA level and bounced the pair higher. The price has moved back above the 50% of the last move higher at 0.90694 to a high of...
NY Fed markets chief: No sign yet Fed needs to change balance sheet plans
Unclear when reserves will grow scarceAll signs suggest reserves remain abundantMoney markets will signal when reserves are growing scarceFed can still do repos to add liquidity if neededStanding repo, conventional repos can address stress quicklyFed rate control...
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Nasdaq Composite Technical Analysis – Bulls need to watch out for these levels
Last Friday, the Nasdaq Composite rallied following the big beat in the NFP report as the market continues to bet on the soft-landing scenario. Yesterday, the index opened lower following the outbreak of the war in Israel but bounced back soon after and closed higher...
ForexLive European FX news wrap: Calmer tones prevail as market fears subside
Headlines:Markets:EUR leads, JPY lags on the dayEuropean equities higher; S&P 500 futures flatUS 10-year yields down 7.9 bps to 4.702%Gold down 0.2% to $1,856.25WTI crude down 0.4% to $86.04Bitcoin down 0.2% to $27,520It took less than a day for markets to brush...
Risk to keep an eye out for yields in the rearview mirror
10-year Treasury yields are down to 4.707% now after returning from the long weekend, down notably from 4.782% at the end of Friday. That being said, they are much higher than the opening gap lower of 4.636% earlier today. We already saw how stocks brushed aside the...
AUDUSD Technical Analysis – Chances of more upside after the failed breakout
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike...
US September NFIB small business optimism index 90.8 vs 91.3 prior
Prior 91.3This marks 21 months in a row now that the index has come in below the 49-year average of 98. Of note, 23% of business owners continue to report that inflation remains their single biggest problem in operating their business - similar to last month. The full...
OPEC secretary general says not too worried about China in medium to long-term
OPEC+ action helped to reduce oil market volatilityWill have a pavilion at COP28 to showcase how OPEC members are dealing with emissionsHopes that all voices will be at the table at COP28Just some token remarks there by Al Ghais. He's trying to sound reassuring on...
USDCAD Technical Analysis – The correction lower is still underway
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike...
US500, Fear-Greed Index, Put Call Ratio and More
A few days ago, the US500 futures, after having fallen -6.55% in 13 trading sessions and having corrected -8.48% from the highs reached at the end of July (4607), came to test the psychological level of 4200 as well as its MA200: now, five trading sessions later (at...
Dollar dips as risk rebound continues on the day
We are now seeing an extension to the narrow ranges from the start of European morning trade today. EUR/USD has moved up from around 1.0570 to 1.0600 while GBP/USD is also up from 1.2230 to 1.2270 on the day. This comes as traders fade the dollar strength from the...
China reportedly weighs new stimulus, higher deficit to meet growth target
Piling on more debt to solve a debt issue? That's new. It is being reported that China policymakers are considering to issue at least ¥1 trillion of additional sovereign debt for spending on infrastructure in order to try and bolster growth prospects. In turn, that...
We’re in the age of ADHD markets
Access to information sounds like a positive thing. However, too much information in a short span of time is not quite that. We live in a time where trying to get information has never been easier. All it takes is a quick Google or ChatGPT these days and you can find...
GBPUSD Technical Analysis – Watch these key levels
US:The Fed left interest rates unchanged as expected at the last meeting.The macroeconomic projections were revised higher as the economy showed much stronger resilience than expected and the Dot Plot showed that the majority of members still expects another rate hike...