The US labor market has eased but is still strongGoolsbee is participating in a moderated panel. Given that we've heard from the Chair, I don't think the rest of today's Fed schedule matters but here's the rest of the schedule:1:30 pm ET Barr 4 pm ET Bostic 5:30 pm ET...
Q&A from Fed Powell: Economy is very resilient and growing strongly
Fed chair Powell speaks at New York economic clubEconomy is very resilient, growing stronglyGrowth is running above its longer run trend. That is a surpriseEconomy is a story of stronger demand.May be ways economy is less affected by interest rates.Interest-sensitive...
How ChatGPT parsed the speech from Fed Powell
QUESTION: Put the fed Chair comments in bulleted topics with inflation, economy, employment, fed policy and "other" as the focusRecent Economic Data:Ongoing progress toward dual mandate goals: maximum employment and stable prices.Inflation:Inflation peaked at 7.1% in...
Oil Slides on US-Venezuela Deal and OPEC Silence on Embargo Calls
OIL PRICE FORECAST:Oil Struggled in the European Session as Market Participants Weighed the Prospects of the US-Venezuela Deal.OPEC Remains Silent Following Iran's Calls for an Oil Embargo.IG Client Sentiment Shows Traders are 68% Net Long on WTI. A Sign of Further...
Fed’s Powell: FOMC is ‘proceeding carefully’
More evidence of above-trend growth or that the labor market is no longer easing, could warrant further hikesExtent of additional firming and how long to keep policy restrictive will depend on data, outlook and balance of risksSignificant tightening financial...
What levels are in play for EURUSD, USDJPY and the Nasdaq index ahead of Fed Powell
As the market prepares for the Fed chair speech in front of the New York Economic Club at 12 noon, the price action of the EURUSD, USDJPY and the Nasdaq (as a proxy for the US stock market), have defined key levels that traders will be watching for bias, risk and...
European equity close: A close on the lows
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,...
US equities bleed again, breaking yesterday’s lows
Nasdaq Comp dailyCue the sad trumpet noises...The early gains in US equities are gone and they're now trading at the lows of the day, even with US yields well off the highs.As I mentioned yesterday, today is -- statistically -- the worst day of the year for...
USDCAD steps higher and in the process finds the next upside target area and stalls.
The USDCAD experienced an upward move yesterday, surpassing a significant swing area range spanning from 1.3687 to 1.3700. This ascent led the price into another key swing area, ranging between 1.3736 and 1.37433. Within this region, traders have engaged in a...
Republicans consider caretaker speaker
I don't think politics matter to the market right now or at least they shouldn't matter but earlier this week there was selling in equities after Jim Jordan lost his first vote for Speaker of the House.That campaign currently looks like it has only slim hopes and will...
Sellers in USDCHF take the price back below retracement target giving sellers confidence.
The USD/CHF pair initially rose today, testing a critical zone between 0.8982 and the psychologically significant level of 0.9000. However, sellers stepped in at the upper boundary of this zone, driving the price lower. Notably on the downside, the pair has now...
EIA weekly natural gas inventories +97 bcf vs +80 bcf 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,...
Conference board leading index for September -0.7% versus -0.4% expected
Leading economic Index declined for the 18th month in roomLeading economic indicator for September:Prior month -0.5% revised from -0.4%Leading index for September -0.7% versus -0.4% expectedThe decline is the 18th month in a rowThe only positive was the initial...
US September existing home sales 3.96m vs 3.89m 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,...
Kickstart your FX trading for October 19 with technical look at EURUSD, USDJPY and GBPUSD
EURUSD: The EURUSD has rotated back to the upside after holding support near a swing area between 1.0525 and 1.05316. The subsequent move above the 100-hour moving average 1.05456 and the 200-hour moving average at 1.0563, gave the buyers additional incentive to push...
Eyes on Asian FX as US yields continue to rise
The refrain from many market participants as yields continue to rise is that 'something is going to break'. A good bet for something that will run into trouble is Asian FX, emerging markets in particular. Indonesia surprised markets by boosting interest rates to 6%...
Primex, the Protocol for Spot Margin Trading on DEXs, Launches its Mainnet Beta
Non-custodial protocol for spot margin trading Primex Finance announces the launch of its long-awaited mainnet Beta. Representing a significant milestone for the protocol, the latest version has been deployed on Polygon's PoS chain. Consequently, traders can utilize...
US major indices trading up marginally after sharp declines yesterday
The major US stock indices are clinging to modest gains at the start of the US session. Yesterday stocks fell sharply with the NASDAQ index falling over -1.6%. US yields are higher but trading near low levels.A snapshot of the market currently shows:Dow industrial...
Doge Uprising ($DUP) Announces Presale Launch: A Trailblazing Crypto Project
Doge Uprising ($DUP) is a brand-new crypto presale set to make its mark in Q4. This project stands out from the crowd with its unique features. Its detailed roadmap paints a vibrant picture of a Web3 universe enriched by an exclusive NFT collection and an interactive...
US equities set for small gains. Eyes on Tesla and Netflix
S&P 500 futures are up 0.2% ahead of the open as they trade at a pre-market high. Futures had been lower into the start of European trading.Two megacap stocks are in focus today after reporting earnings following yesterday's close. Shares of Netflix are up 16.5%...