The major US stock indices are opening higher as yields provide some relief. The ADP jobs report was weaker than expectations. The BLS jobs report will be released on Friday with expectations of 170K versus 187K last month. The unemployment rate, however, is expected...
Strong bids for the US 30-year have emerged after tagging 5%
There was a less-than 20 minute window where investors could get risk-free US dollar yields of 5% for 30 years.It was the first crack at 5% long-term yields since 2007 and is a life-saver for insurance and pension managers. It looks like they took full advantage as...
British Pound (GBP) Latest: GBP/USD Boosted by PMI Beat, Can It Hold?
GBP/USD Analysis and ChartUK data helping to underpin Sterling.US dollar nudging lower but bond yields remain near multi-year highs.Download the Brand New British Pound Q4 Guide Below Recommended by Nick Cawley Get Your Free GBP Forecast Get My Guide The final UK...
Kickstart your FX trading on October 4 with a technical look at EURUSD, USDJPY and GBPUSD
To kickstart your trading day in the Forex on October 4, 2023, I take a look at the EURUSD, USDJPY, and GBPUSD from a technical perspective. Below is a verbal summary of the video details:EURUSD: The EURUSD is higher on the day, and moved to a new high after the week...
Cable climbs 100 pips as the US dollar slumps following ADP employment data
The US dollar is broadly weak today as yields give back some gains following a weaker ADP employment report. The US added 89K private jobs in September, lower than the 153K consensus.The market is struggling to figure out what's happening in the jobs picture after...
ADP US September employment +89K vs +153K expected
ADP employmentPrior was +177K (revised to +180K)Details:small (less than 50 employees) +95K vs +18K priormedium firms (500 – 499) +72K vs +79K priorlarge (greater than 499 employees) -83K vs +83K priorChanges in pay:Job stayers 5.9% vs 5.9% priorJob changers 9.0% vs...
ADP US employment coming up next
Yesterday's strong JOLTS report has put the US jobs market back in the spotlight and that will continue through Friday with non-farm payrolls. First though, we get the private reading from ADP, with the consensus at 153K new jobs, down from 177K in August.US...
The GBP is the strongest and the NZD is the weakest as the NA session begins
The strongest to the weakest of the major currenciesAs the North American session begins the GBP is the strongest of the major currencies while the NZD is the weakest. The USD is weaker as yields have dipped a bit in trading today. That did not come before the 30-year...
Nasdaq Composite Technical Analysis – Key moment for the index
Yesterday we got another strong US jobs report as the Job Openings data beat expectations by a big margin. Coupled with the last week’s beat in Jobless Claims and this week ISM Manufacturing PMI, the market is starting to lose faith in a quick return to lower interest...
ForexLive European FX news wrap: Dollar gains abate as Treasury yields surge eases off
Headlines:Markets:GBP leads, NZD lags on the dayEuropean equities higher; S&P 500 futures up 0.1%US 10-year yields down 1.5 bps to 4.787%Gold up 0.1% to $1,824.08WTI crude down 2.0% to $87.47Bitcoin up 0.7% to $27,580As we got into European morning trade, yields...
GBPAUD: UK Services PMI at eight-month low in September
Following the publication of a significant improvement in the UK PMI for September, there was a significant slight increase in the value of the Pound sterling against the Euro and Dollar, signalling that the economy’s performance was not as bad as expected. The...
US MBA mortgage applications w.e. 29 September -6.0% vs -1.3% prior
Prior -1.3%Market index 178.2 vs 189.6 priorPurchase index 136.6 vs 144.8 priorRefinance index 384.6 vs 411.7 prior30-year mortgage rate 7.53% vs 7.41% priorMortgage activity plunged further in the past week as the average rate of the most popular US home loan rises...
ECB’s Centeno: Inflation is falling faster than when it was rising
We can expect that the interest rate cycle has been completed by now and with present conditionsNow that they have chosen to move to the sidelines, they can just about say anything to spin the narrative in that direction. They want to look confident that they have...
Dollar down slightly as the bond selling comes off the boil for now
The greenback is sitting lower on the balance of things now, with EUR/USD up 0.3% to 1.0500 and GBP/USD up 0.4% to 1.2125 on the day. It comes as the bond rout is seen cooling in European trading, with 10-year Treasury yields now at 4.81% after having touched 4.88% at...
GBPJPY Technical Analysis – We are at a key resistance
UK:The BoE kept interest rates unchanged at the last meeting. The central bank is leaning more towards keeping interest rates “higher for longer” but it kept a door open for further tightening if inflationary pressures were to be more persistent. Key economic data...
Eurozone August retail sales -1.2% vs -0.3% m/m 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,...
Eurozone August PPI +0.6% vs +0.6% m/m 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,...
The bond rout cools off a little, for now at least
US Treasury 10-year yields (%) 10-mins chartIt's a volatile mess out there but the drop back down in yields in European morning trade so far is at least providing a light breather for broader markets. The dollar is seeing gains pared on the day with the euro and pound...
NZDUSD Technical Analysis – Still stuck in a range
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...
UK September final services PMI 49.3 vs 47.2 prelim
> UK September final services PMI 49.3 vs 47.2 prelim Latest data released by S&P Global - 4 October 2023 <!--> Justin Low Wednesday, 04/10/2023 | 08:30 GMT-0 04/10/2023 | 08:30 GMT-0 --> <!--> Prior 49.5Composite PMI 48.5 vs 46.8 prelimPrior...