The major European stock indices are closing higher on the day. The indices are encouraged by the lower than expected UK CPI inflation data today. That has traders paring back expectations for the BOE rate hike tomorrow. The expectations are now 50-50 for a rate hike....
NASDAQ index trades at new session lows. Down on the day.
Major US stock indices are trading mixed with the NASDAQ index trading to a new session close down -35.45 points or -0.26% at 13643.01. Meanwhile the Dow industrial averages still higher by about 190 points or 0.56% at 34706.The S&P index is in between those two...
Deutsche Bank now sees the Bank of England keeping rates unchanged at 5.25%
Deutsche Bank now sees the Bank of England keeping rates unchanged at 5.25% on Thursday. They previously saw an increase of 25 basis points. The UK's inflation rate unexpectedly slowed, leading to speculation that the Bank of England (BoE) might pause its interest...
USDCHF moves lower after ceiling area stalls the rally this week. Key support approached.
The USDCHF formed a ceiling last Friday and into this week near the 0.89824 level. The high prices over those days stalled against that level on Friday, Monday and again today. Eventually, the buyers gave up and turned to sellers. The price today has moved lower in...
Algorand Foundation Announces Build-A-Bull Hackathon in collaboration with AWS
The Algorand Foundation, the organization focused on growing the ecosystem for the world's most advanced, secure and reliable layer-1 blockchain, announces the opening of registration for Build-A-Bull, a global virtual hackathon with $200,000 (USD) in prizes. The...
EIA weekly crude inventory stocks -2.135M vs. -2.200M estimate
Crude all inventories -2.135 million versus -2.200 million estimate. The private data yesterday showed a -5.3 million draw.Distillates -2.867M versus a build of 0.217M estimateGasoline -0.831M versus a build of 0.317M estimateweekly refinery utilization -1.8% versus...
USDCAD stalls at the 200 day MA today. Now works back down toward 100 day MA.
The USDCAD yesterday moved below its 100 day moving average and 50% midpoint of the move up from the July low at 1.3397 and 1.3393 respectively after stronger-than-expected CPI data out of Canada. However, sellers turned to buyers, after the failed break, and the...
US stocks higher but off levels implied by the stock futures
The premarket levels employed by the futures were higher than the opening levels, with the NASDAQ index lagging at the open. A snapshot of the market currently shows:Dow industrial average up 94 points or 0.28 percent at 34614.59S&P up 10.37 points or 0.23% at...
Stock futures are pointing to a higher opening in the US
The US stock futures are implying a higher opening for the major indices when the opening bell rings at 9:30 AM ET.Dow industrial average +114 points after yesterday's -106.57 point declineS&P index up 15.30 points after yesterday's -9.5 a point declineNASDAQ...
ECBs Makhluof: I do think we are there or thereabouts at top of ladder on rates
ECB Makhluof speaks on ECB policyECB's Makhluof is speaking and says: I do think we are there, or thereabouts, at top of the ladder on ratesMy view at the moment is that March 2024 is probably too early for 1st rate cutNot saying at our next meeting that we are going...
Kickstart your forex trading day with a technical look at the EURUSD, USDJPY and GBPUSD
It is FOMC day with the expectation for no change in policy by the US central bank. The focus will be on the details of the dot plot and central tendencies along with the statement in the Q&A from Chair Powell. Traders can have their bias, but with the Fed thought...
WSJ Nick Timiraos: There is a lot of optimism on a soft landing. We are there right now.
> Central Banks > WSJ Nick Timiraos: There is a lot of optimism on a soft landing. We are there right now. Central Banks WSJ Timiraos speaking on CNBC <!--> --> <!--> --> Nick Timiraos on CNBCThere's a lot of optimism on a soft landingBut there...
Bank of England Preview: GBP Hangs on by a Thread
POUND STERLING ANALYSIS & TALKING POINTSUK CPI throws a spanner in the works.BoE could go either way tomorrow.May swing low under threat at 1.2308. Recommended by Warren Venketas Get Your Free GBP Forecast Get My Guide GBPUSD FUNDAMENTAL BACKDROPThe British pound...
Dollar Demonstrates Resilience Once Again
Here's a riddle for adults: countries stop using it, analysts predict its decline and regression, but it continues to strengthen. What is it all about? If you answered the U.S. dollar, you are absolutely right.Despite the expressed plans by BRICS leaders to increase...
The NZD is the strongest and the GBP is the weakest as the NA session begins
The strongest to the weakest of the major currenciesAs the North American session begins, the NZD is the strongest and the GBP is the weakest. The FOMC rate decision will highlight the events later today with the expectation that the Federal Reserve will keep rates...
Ethereum Technical Analysis – Key levels in play
Ethereum continues to consolidate around a key support turned resistance maintaining a bearish bias as the uncertainty around the future outlook is now at its highest levels. On one hand, we have some resilience in the economies with the inflation rates slowly...
ForexLive European FX news wrap: Sterling falls as UK inflation eases
Headlines:Markets:NZD leads, GBP lags on the dayEuropean equities higher; S&P 500 futures up 0.2%US 10-year yields down 2.2 bps to 4.344%Gold flat at $1,930.84WTI crude down 0.6% to $89.93Bitcoin down 0.3% to $27,089With the Fed in focus, markets were prepared a...
Make or break time for Treasuries as traders turn to the Fed for direction
If you only have one chart that you can watch in trying to make sense of the FOMC meeting decision later today, this would be my pick.US Treasury 10-year yields (%) daily chartDespite the Fed saying that they are in pause mode while looking to hold rates higher for...
US MBA mortgage applications w.e. 15 September +5.4% vs -0.8% prior
Prior -0.8%Market index 192.1 vs 182.2 priorPurchase index 147.0 vs 143.7 priorRefinance index 415.4 vs 367.0 prior30-year mortgage rate 7.31% vs 7.27% priorDespite a further rise in the average rate of the most popular US home loan, mortgage applications rose in the...
Bitcoin Technical Analysis – We are at a key trendline
Bitcoin might be stuck in a major range between the 25231 support and the 31044 resistance as the uncertainty around the future outlook is now at its highest levels. On one hand, we have some resilience in the economies with the inflation rates slowly normalising, but...