CNBC's Leesman in a recap with the staff on Squawk on the Street weighed in with some of his thoughts.If the Fed are to do a 1/4 basis points, they should do 50. He commented that Bostic said that the Fed is "sufficiently restrictive" (argues for staying the...
VIDEO: A look at all the major currency pair vs the USD after the US jobs report
US stocks are lower with the NASDAQ and S&P index each down about -0.67%. US yields are higher with the 30 year yield at 5.0%. The 10 year yield moved up to a new high for the year at 4.887% before rotating modestly to the downside of 4.834% currently. The US...
More from ECB Knot: Would prefer a tolerance band around target rate
Italian spreads have increased recently because of budget issuesUnemployment cost of disinflation is benign compared to previous policy tightening cyclesWould prefer a tolerance band around target rather than a strict point target for inflationECB stands ready to...
Major US stock indices open lower after the much stronger than expected US jobs data.
The major stock indices are opening lower after the much stronger than expected US jobs data. However, indices are off their lowest premarket levels.Dow industrial average is down -60.69 points or -0.18% at 33058.89S&P index -16.54 points or -0.39% at...
US 10 year yield tests the high from earlier the week after stronger US jobs report
The stronger US jobs data has US yields moving sharply to the upside once again:2 year yield 5.110%, +8.6 basis points5 year yield 4.808% +12.5 basis points10 year yield 4.86% +14.5 basis points30 year yield 5.03% +14.4 basis points. Above the 5% level. Recall that...
Kickstart your FX trading on October 6 with a technical look at EURUSD, USDJPY and GBPUSD
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,...
Weekly Market Recap (02-06 October)
Monday:The Chinese PMIs over the weekend were all in expansion with NBS PMIs beating expectations and Caixin ones missing them:NBS Manufacturing PMI 50.2 vs. 50.0 expected and 49.7 prior.NBS Services PMI 51.7 vs. 51.5 expected and 51.0 prior.Caixin Manufacturing PMI...
ECBs Knot: We are getting on top of inflation
ECBs Knot is speaking and says:We are getting on top of the inflationPolicy is in a good placeWe have a credible perspective of bringing back inflation to 2% in 2025Comfortable with current stance of policyAlso speaking is ECB's Vassle and Vujcic:Vujcic:We are on a...
September Jobs Report: Payrolls at 336,000; Gold and US Dollar Go Their Own Way
SEPTEMBER LABOR MARKET REPORTSeptember U.S. nonfarm payrolls increased by 336,00 versus 170,000 expected.The unemployment rate held steady at 3.8%, one-tenth of a percent above estimates.Average hourly earnings clocked in 0.2% m-o-m and 4.2% y-o-y, slightly below...
Canada September employment 63.8K vs 20.0K expected
Candor jobs data shows a stronger than expected increasePrior 39.9Kemployment change 63.8Kvs 20.0K estimate.Unemployment rate 5.5% vs. 5.6% estimate. Last month 5.5%.Full-time employment 15.8K vs 32.2K last monthpart-time employment 47.9K vs. 7.8k last...
US September non-farm payrolls +336K vs +170K expected
Nonfarm payrollsPrior +187K (revised to +227K)Two-month net revision +119K vs -110K priorUnemployment rate 3.8% vs 3.7% expectedPrior unemployment rate 3.8%Participation rate 62.8% vs 62.8% priorU6 underemployment rate 7.0% vs 7.1% priorAverage hourly earnings 0.2%...
Locked and loaded for September non-farm payrolls
The White House already has the jobs numbers, is that why Biden is scheduled to speak about them later? Eyes aren't just on the 170K headline but also on the unemployment rate, which is expected at 3.7%.Make sure to check out the non-farm payrolls preview.MoneyMaker...
Forexlive European FX news wrap: Schnabel won’t rule out more ECB rate hikes
Markets:Gold up $1 to $1821US 10-year yields up 2.9 bps to 4.74%WTI crude oil up 18-cents to $82.48S&P 500 futures up 0.2%GBP leads, JPY lagsThe news was mostly positive in Europe as German industrial orders rebounded from a dreadful July and Schnabel kept the...
USD/JPY climbs above above 149.00 as yields rise
It's likely a fool's errand to try to make sense of price action in the hour before the non-farm payrolls report but USD/JPY is at the highs of the day, up 58 pips to 149.09. It's getting help from a 3.4 bps rise in 5-year yields to 4.71% the rest of the curve is up...
Nasdaq Composite Technical Analysis – Watch these levels for the next direction
Despite the strength in the US data this week and another beat in Jobless Claims yesterday, the Nasdaq Composite didn’t sell off like we saw in the past week. The index is hovering around a key support level and it looks like the soft landing vibes might be returning...
Large EUR/USD options run off after the jobs report– a look at today’s FX options
The US dollar continues to lose ground ahead of today's non-farm payrolls report. That's helped to boost EUR/USD up to 1.0558.For the 10am NY cut, there are some huge expiries today, both in the 1.0650 range and 1.0450 range.The euro options expirations aren't the...
AUDUSD Technical Analysis – Watch this key resistance
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 dollar gives back agains as cable crosses 1.2200
Treasury yields are still higher but the earlier gains from the US dollar have evaporated. Leading the gainers are the yen and pound. The latter is now higher for the third day in a row and is back above 1.2200.Could this be the start of a bigger retracement?cable...
Mohamed El-Erian on 2 factors that makes a US recession more likely
El-Erian is Allianz chief economic adviser. He wrote an op-ed in the Financial Times (gated). Business Insider highlight his main points from the FT piece: Two reasons why America's odds of avoiding a recession may be dwindling Yields on the 10-year US Treasury bond...
ECB’s Schnabel: If risks materialize, further rate hikes may be necessary
ECB's SchnabelThe ECB has published an interview with executive board member Isabel Schnabel.Overall, the recent news on inflation is encouragingCore inflation has proven more stubbornWe cannot take it for granted that inflation will only move downwards from now on,...