AI imageThe Fed decision is the headliner on this week's US economic calendar but the Treasury threatens to steal the show.Today at 3 pm ET, the Treasury will release its quarterly borrowing requirements for Q1 while the details of auction sizes will come Wednesday at...
Nasdaq Composite Technical Analysis – The bears are eyeing the 12274 support
Last week, the risk sentiment started on a positive note at the beginning of the week due to the lack of a ground offensive in Gaza. Unfortunately, things went south from Wednesday onwards as Israeli PM Netanyahu delivered a speech where he said that they were...
ForexLive European FX news wrap: Risk sentiment picks up, dollar mixed on the day
Headlines:Markets:AUD leads, CHF lags on the dayEuropean equities higher; S&P 500 futures up 0.7%US 10-year yields up 4.7 bps to 4.892%Gold down 0.7% to $1,992.40WTI crude down 1.3% to $84.41Bitcoin up 2.1% to $34,576It is shaping up to be a bit of a mixed start...
Type of Trader: Position Trader
A position trader is a type of trader who holds a position in an asset for a long period, typically from months to years. Unlike day traders who make numerous trades every day, or swing traders who hold onto positions for days or weeks, position traders are more...
Traditional Currencies vs. Cryptocurrencies: A Comprehensive Comparison
In the world of finance, two types of currencies dominate the scene - traditional currencies and cryptocurrencies. Both have their unique features, advantages, and disadvantages. This article aims to provide a comprehensive comparison between these two types of...
Gold and oil fall back as safety flows unwind again after the weekend
Since the Israel-Hamas conflict escalated earlier this month, gold and oil have been the two assets that are arguably impacted the most. And heading into every weekend since, we have seen both commodities gain ground only to fall back again on the following Monday....
Bond yields nudge a little higher on the day
The back and forth continues in the bond market, as yields are trickling higher to start the new week. The more tentative mood on Friday might be caused by safety flows but we are seeing that unwind all across the board with both gold and oil sitting lower while...
Russell 2000 Technical Analysis – The bears will be waiting at these levels
Last week, the risk sentiment started on a positive note at the beginning of the week due to the lack of a ground offensive in Gaza. Unfortunately, things went south from Wednesday onwards as Israeli PM Netanyahu delivered a speech where he said that they were...
German economy ministry says Q3 GDP contraction was expected
As mentioned earlier, anything but a negative quarter-on-quarter reading would've been a surprise. But a 0.1% contraction in gross domestic product in Q3 is the best-case scenario in that event. A recession is on the cards for Germany but the question now is for how...
Microsoft Stock Hikes Following Report. Analysts’ Forecast
The tech giant released its report for the first quarter of the 2024 financial year, and investors were pleasantly surprised by the stock's substantial growth. In contrast, several other tech companies failed to impress market players with their earnings, leading to a...
Eurozone October final consumer confidence -17.9 vs -17.9 prelim
Economic confidence 93.3 vs 93.0 expectedPrior 93.3; revised to 93.4Industrial confidence -9.3 vs -9.5 expectedPrior -9.0; revised to -8.9Services confidence 4.5 vs 3.4 expectedPrior 4.0; revised to 4.1Euro area economic sentiment is little changed on the month, as...
Saxony October CPI +4.5% vs +5.4% y/y prior
This just reaffirms the much softer annual consumer price readings in Germany on the month. As a whole, this should see the national estimate later come in around 3.7% to 3.9% - which would be lower than the expected reading of 4.0%. But core annual inflation should...
Market Update – October 30
Stock markets struggled overnight. Mainland China bourses found buyers, but JPN225 and ASX declined, as markets watched developments in the Middle East. Risk sentiment improved during the start of the week as Israel seemed to be moving with more caution than...
S&P 500 Technical Analysis – Watch these key resistance levels
Last week, the risk sentiment started on a positive note at the beginning of the week due to the lack of a ground offensive in Gaza. Unfortunately, things went south from Wednesday onwards as Israeli PM Netanyahu delivered a speech where he said that they were...
UK September mortgage approvals 43.33k vs 45.00k expected
Prior 45.35kNet consumer credit £1.4 billion vs £1.4 billion expectedPrior £1.6 billion; revised to £1.7 billionThe net borrowing of mortgage debt by individuals in the UK decreased last month to -£0.9 billion, its lowest since April, as mortgage approvals also fall...
Equities keep up the optimism to start the week
The relief comes as the Israel-Hamas conflict continues to be centered mostly around Gaza. And while the situation is doleful, it isn't one that is having much economic impact globally - at least for now. Once again, the safety bets ahead of the weekend are being...
ECB’s Simkus: Unless there are data surprises, current level of restriction is sufficient
They're wanting to leave the door open for December as well but at the same time, maintaining that not doing anything more from here is also the right play. For now, the inflation numbers are trending in their favour but they'd certainly be hoping for more help from...
Germany Q3 preliminary GDP -0.1% vs -0.3% q/q expected
Prior 0.0%Honestly, anything other than a negative reading would've been a surprise. So, as far as bad news go, this is probably the best version of it as the German economy is only seen marginally contracting in Q3 - at least based on initial estimates. This will...
Bavaria October CPI +3.7% vs +4.1% y/y prior
The other state readings released at around the same time:Hesse CPI +3.6% vs +4.7% y/y priorBaden Wuerttemberg CPI +4.4% vs +5.1% y/y priorAll the estimates are pointing to softer annual inflation readings in October compared to September. The magnitudes are still up...
AUD Rallies; Bond Yields Ease; Wall Street Stocks Mixed
The Dollar Index (DXY), a popular gauge of the Greenback’s value against a basket of 6 major currencies, ended flat, at 106.58 (106.60). The US currency maintained its gains versus its rivals ahead of this week’s Federal Reserve interest rate decision.Against the...