The AUDUSD sellers had their shot this week with a move outside of the "Red Box" that has confined the pair between 0.6356 and 0.65214 for 7 trading weeks now. The failure to break - and move lower this week - has given the buyers a go-ahead to push higher midweek....
US dollar erases losses as the month winds down
There may be a bit of a rush for USD liquidity into month end. Otherwise the latest move in the dollar is tough to explain.Notably, stocks are off their best levels so many that's a canary in the coalmine? In any case, the dollar is now roughly flat on the day against...
ECB’s Villeroy: Recent volatility in long bonds has been somewhat excessive
ECB's VilleroyData shows that headline and core inflation declining progressively across EuropeToday's data shows that the ECB's monetary policy is effectiveRecent volatility in long bonds has been somewhat excessiveData confirms that current level of our key interest...
September final UMich US consumer sentiment 68.1 vs 67.7 expected
Prelim was 67.7Prior was 69.5Current conditions 71.4 vs 69.8 prelim (75.7 prior)Expectations 66.0 vs 66.3 prelim (65.5 prior)1-year inflation 3.2% vs 3.1% prelim (3.5% prior)5-10 year inflation 2.8% vs 2.7% prelim (3.0% prior)I don't think the climbs in inflation is a...
Treasury’s Brainard: Core inflation is now in pre-pandemic range
There are risks to the economy but it remains resilientEconomy is very resilient, the last thing we need is a government shutdownBrainard was offside on the transitory inflation call and was shuffled to the Treasury as she looks to make more of a political career,...
Major US stock indices open with solid gains as inflation eases
The major US stock indices are opening with solid gains as inflation eases. Core PCE data in the US rose 0.1% less than 0.2% expected. The year on year fell to 3.9% from 4.3% last month.US yields are lower are helping the rebound:2-year yield 5.026% -4.4 basis...
US equities set for a strong open as bond yields fall
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,...
Kickstart your FX trading on September 29 w/ a technical look at EURUSD, USDJPY and GBPUSD
To kickstart your trading day in the Forex on September 29, 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 this week moved down to test a key target area near...
S&P 500 Futures Largely Unchanged as the Fed’s Preferred Gauge of Inflation Cools to 3.9%
US PCE DATA KEY POINTS:August U.S. consumer spending advances 0.4% versus 0.4% expected.CorePCE, the Fed’s favorite inflation measure, climbs 0.1% month-on-month and 3.9% from a year earlier, in line with expectations down from a revised 4.3% YoY in July.Short-Term US...
Weekly Market Recap (25-29 September)
Monday:ECB’s Villeroy (hawk – voter) spoke over the weekend and on Monday and although he acknowledged that rates might have peaked, he added that they will be kept at elevated levels for a long time:In the euro area, I believe we will soon reach the high point of...
US Senator Dianne Feinstein has died at 90 – report
California Senator Dianne Feinstein has clearly been ill for some time but she was still being rolled out to vote for key bills because the Democrats only have a one-vote majority. Her death will allow California Governor Gavin Newsom to appoint a replacement. There...
US August core PCE +3.9% y/y vs +3.9% expected
Core PCE y/yPrior was +4.2% (revised to +4.3%)Core PCE +0.1% m/m vs +0.2% expectedPrior m/m +0.2%Headline inflation PCE +3.5% y/y vs +3.5% expected (Prior +3.4%)Deflator +0.4% m/m vs +0.5% expected (prior was +0.2%)The inflation numbers are on the low side of...
US advanced good trade balance for August -84.27B versus $-91.4 billion estimate
> US advanced good trade balance for August -84.27B versus $-91.4 billion estimate US advance good trade balance for August 2023 <!--> --> <!--> Prior $-91.18 billionAdvance goods trade balance for August 2023 -$84.27B vs $-91.4 billion...
Canada GDP month-to-month for July 0.0% versus 0.1% estimate
Canada GDPThe advanced GDP estimate was 0.0% last monthPrior -0.2%Advanced GDP MoM 0.0% vs 0.1% estimateService producing industries rose 0.1% in the monthGoods producing industries that fell -0.3%Overall 9 of 20 sectors posted increasesManufacturing sector-1.5% which...
US August advanced wholesale inventories -0.1% versus -0.2% prior
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,...
ForexLive European FX news wrap: Dollar struggles amid lower yields, equities rejoice
Headlines:Markets:AUD and NZD lead, USD lags on the dayEuropean equities higher; S&P 500 futures up 0.3%US 10-year yields down 2.6 bps to 4.571%Gold up 0.1% to $1,867.19WTI crude up 1.1% to $92.69Bitcoin down 0.4% to $26,992There was plenty of data releases to...
Equities keep the faith ahead of US trading
European indices are seeing gains of ~1% and S&P 500 futures are up 0.5% currently. That is hinting at a rather optimistic end to the week, after the rough period initially amid higher bond yields. The solid rebound yesterday is carrying over to today and it is...
Gold Prices Bounce Likely Short-Lived As US Rates, China Import Move Both Weigh
GOLD ANALYSIS & TALKING POINTSGold prices bounced in early Friday tradeAction looks corrective after heavy falls, doesn’t seem backed by a specific eventUS PCE inflation numbers will be the next big indicator Recommended by David Cottle Get Your Free Gold Forecast...
Nasdaq Composite Technical Analysis – “Make it or break it” moment
After the strong selloff following the more hawkish than expected FOMC dot plot, the Nasdaq Composite is now taking a breather just around a key level. On the fundamental side nothing’s changed this week other than another very strong Jobless Claims report yesterday...
ECB’s Vasle: We’re probably done with rate hikes
The balance of favour now is leaning very much towards a pause by the ECB and markets have already come to terms with that. There are no more rate hikes priced in now and the latest set of inflation numbers this week will just allow the central bank to spin the...