> Canada wholesale trade for July 0.2% versus 1.4% estimate Canada wholesale trade data for July 2023 <!--> --> <!--> Canada wholesale tradePrior month -2.8% revised to -2.1%Wholesale sales (excluding certain products) rose by 0.2% versus +1.4%...
US August retail sales +0.6% versus +0.2% expected
Prior was +0.7% (revised to +0.5%)Details:Retail sales m/m +0.6% versus +0.2% expectedEx-autos +0.6% versus +0.4% expected. Prior ex autos +1.0%Control group +0.1% versus -0.1% expectedPrior control group +1.0% (revised to +0.7%)Retail sales ex gas and autos +0.2%....
Euro falls as ECB hints that they are done with rate hikes
EUR/USD has fallen from 1.0730 to 1.0695 in the aftermath of the ECB decision, even though the central bank delivered a 25 bps rate hike today. The key takeaway is that they hinted that this should be the final rate hike of the cycle and lower economic projections and...
EURUSD moves lower after ECB raises rates by 25 basis points
EURUSD back below its 100/200 hour moving averagesThe EURUSD initially moved higher but fell short of its high for the day after the central bank raise rates by 25 basis points. The high price reached 1.07469, but reversed quickly falling to a new low for the day at...
ECB raises key rates by 25 bps in September monetary policy meeting
Prior decisionMain refinancing rate 4.50% vs 4.25% expectedPrior 4.25%Deposit facility rate 4.00% vs 3.75% expectedPrior 3.75%Marginal lending facility 4.75%Prior 4.50%Inflation continues to decline but is still expected to remain too high for too longPast rate hikes...
The AUD 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 AUD is the strongest and the GBP is the weakest. The USD is mostly lower. The EURUSD is mixed ahead of their interest rate decision at 8:15 AM ET. ECBs Lagarde will conduct...
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Nasdaq Composite Technical Analysis – Consolidation on a key support
Yesterday, the US CPI report came basically in line with expectations as the market was already expecting higher energy prices to push up the August inflation readings. The Core measure, which is what the Fed is focused on, was in line with forecasts with the monthly...
ForexLive European FX news wrap: FX steady awaiting ECB, US data; China cuts RRR again
Headlines:Markets:AUD leads, GBP lags on the dayEuropean equities slightly higher; S&P 500 futures up 0.4%US 10-year yields up 1.4 bps to 4.262%Gold up 0.1% to $1,907.80WTI crude up 1.3% to $89.67Bitcoin up 0.5% to $26,362Major currencies didn't do a whole lot...
WTI, Brent Shrug Off US Inventories Surge as Oil Prices Hit Fresh 2023 Highs
OIL PRICE FORECAST:Most Read: What is OPEC and What is Their Role in Global Markets?Oil prices continued their advance this morning helped by a weaker USD. The surge in US inventories seems to be overshadowed by growing concerns around tighter supply for the remainder...
Fed to “skip” rate hike in September, hike again by 25 bps in November – Citi
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,...
Dow Jones Technical Analysis – Stuck in a consolidation
Yesterday, the US CPI report came basically in line with expectations as the market was already expecting higher energy prices to push up the August inflation readings. The Core measure, which is what the Fed is focused on, was in line with forecasts with the monthly...
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FBS, a leading global broker, proudly unveils its new #TradersKnowBetter approach, placing traders at the forefront of its mission. Through this initiative, the broker announces its unwavering commitment to providing secure financial services trusted by traders...
PBOC cuts RRR by 25 bps, with effect from 15 September
The weighed average RRR for financial institutions will be around 7.40% after the latest cut. The central banks adds that it will keep prudent monetary policy and ensure liquidity remains reasonably ample. This might not be the last time they resort to more RRR cuts...
A little food for thought ahead of the ECB decision later
This is a great point brought up by @fwred (one of the best in the business for anything ECB-related by the way) ahead of the policy decision later today. That being that when the ECB does hold a formal vote on decisions, there will be five members that will not have...
Gold Technical Analysis – Key resistance in sight
The strong US data last week and the continued disinflation as seen in yesterday’s CPI report, keep on weighing on Gold as US real yields remain high and there’s also a risk that the Fed might even do more if the labour market doesn’t soften enough, and inflation gets...
These are desperate times in China
I'm going to talk about things in this post in relation to the earlier headline here. It's storytelling time and might as well since we have to wait on the ECB and major US data later today anyway.To give a bit of context, what the Chinese central bank is requesting...
Market Update – September 14 – A hotly contested day ahead!
CPI was a little hotter than expected, but not enough to alter expectations that the FOMC will skip hiking rates at its meeting next Wednesday. And the report did not change views that the door is open for a tightening in November, but it still not any more than a...
Russell 2000 Technical Analysis – We are at a key support
Yesterday, the US CPI report came basically in line with expectations as the market was already expecting higher energy prices to push up the August inflation readings. The Core measure, which is what the Fed is focused on, was in line with forecasts with the monthly...
Don’t sleep on the major US data releases today
I've been highlighting them since last week already. And if you think that after the dull reaction to the US CPI report yesterday that the data points today might not matter, I would say the opposite could end up being truer.The inflation numbers yesterday served the...