Waller is refraining from following Logan and saying that higher long-term rates open the door for steady short-term rates, though he doesn't sound too far off in that thinking. It's looking more and more like the Fed will wait in November and see how the economy and...
Early US intel shows Iran leaders surprised by Hamas attack
The New York Times reports that early intelligence shows that Iranian leaders were surprised by the Hamas attack.That goes against a report on Saturday from the WSJ's Summer Said that said Iran helped plot the attack on Israel over several weeks.The level of Iran's...
What’s behind the dollar’s rise this year and what will happen next
I haven't seen a better summary in six bullet points of what's happened in the market this year than Deutsche Bank today. They highlight what has kept the dollar strong this year.The dollar has outperformed this year on a very big widening in US - global growth...
AUDUSD trading up and down within a range. What defines the range & potential breakpoints?
The AUDUSD is trading within a up and down range over the last few trading days. The low stalled near the 50% midpoint of the move down from the September 29 high at 0.63927. The high resistance is now tied at 0.6435. The buyers tried to take the price above that high...
Fed’s Waller set to speak at fireside chat
I'm eagerly awaiting for the Fed's Waller to weigh in on monetary policy at the moment because he's a hawk and if he signals a move to the sidelines, it would be strong confirmation. That said, I'm not sure we get anything today because the event is a 'fireside chat'...
USD/ZAR Price Forecast: Rand Approaches Key Support as FOMC Minutes Looms
RAND TALKING POINTS & ANALYSISDecline in US Treasury yields sustaining rand upside as PPI’s push higher.Attention n shifts towards FOMC minutes and Fed officials.Rising wedge support being eyed by ZAR bulls.Want to stay updated with the most relevant trading...
US stocks trading higher despite the higher PPI data
The major US stock indices are trading higher despite the higher PPI data released earlier today. US CPI data will be released tomorrow at 8:30 AM. Technically, the NASDAQ index is moving above its near converged 100/50 day moving averages. The 100 day moving average...
USDCAD stays in the up and down range. Swing area above. 200 bar MA on 4-hour chart below
The work isT.he The USDCAD is remaining within the trading range that has been established since Monday. That range has support against the 200 bar moving average on the 4 hour chart near 1.35714, and resistance against the top of the swing area up to 1.36125. Traders...
Putin: OPEC+ deal is very likely to be extended
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 October 11 with a technical look at EURUSD, USDJPY and GBPUSD
Kickstart your forex trading with a technical look at the technicals driving the EURUSD, USDJPY and GBPUSD.EURUSD: The EURUSD traded up and down in the Asian and European morning session and then moved lower after the insured expected PPI. Over the price has rebounded...
US dollar falls despite the rise in PPI
The price action after today's PPI report might be a preview of what's to come ahead of Thursday's highly-anticipated CPI report.The market is showing that worries about inflation have faded. The latest bump in PPI was energy-driven but since the start of October, oil...
Baltic pipeline operators says repairs will take at least five months
A natural pipeline connecting Finland and Estonia failed this week, possibly due to sabotage. The timing of the failure is certainly curious, right before the heating season gets underway.And now it looks like the pipeline won't be fixed until April 1, at the...
Canada August building permits 3.4% vs 0.5% expected
Prior was -1.5% (revised to -3.8%)This is a good report but not nearly as good as it looks before the revision. Canadian developers are still working through a deep pipeline but there's a big shakeout in the Canadian mortgage and housing markets right now that will...
US September PPI +2.2% vs +1.6% expected
US Core PPI YoYPrior was +1.6% (revised to +2.0%)Prices +0.5% m/m vs +0.3% expectedEx food/energy +2.7% y/y vs +2.3% expectedEx food/energy +0.2% vs +0.3% prior (revised to +0.2%)The US dollar rose around 20 pips on the headlines but has quickly retraced. Similarly,...
US PPI coming up next
US Core PPI YoYPPI isn't always a market mover but inflation fears are back in the air with the recent rise in bond yields so today could be an exception. PPI is expected up 0.3% m/m and 1.6% y/y.At the same time, Canadian building permits for August will be...
Nasdaq Composite Technical Analysis – Key levels in play
The events in the Middle East have not impacted the Nasdaq Composite as the market is likely to ignore that as long as the conflict remains confined to just Israel and Hamas. The strong NFP report last Friday and the recent comments from Fed members where they keep...
ForexLive European FX news wrap: Dollar holds steady for now amid further drop in yields
Headlines:Markets:CHF leads, NZD lags on the dayEuropean equities mostly higher; S&P 500 futures up 0.3%US 10-year yields down 9.5 bps to 4.560%Gold up 0.5% to $1,870.73WTI crude down 0.8% to $85.27Bitcoin down 0.7% to $27,200It was a slow session for the most...
What is an Imbalance in Forex?
In asset trading, foreign exchange, or Forex, occupies a unique niche. Foreign exchange is one of the most significant global economic events. Simply put, it is a virtual international market where currencies are bought and sold.Multiple factors drive this dynamic...
ECB’s de Cos: Core inflation has turned a corner
> Central Banks > ECB's de Cos: Core inflation has turned a corner Central Banks Remarks by ECB policymaker, Pablo Hernandez de Cos <!--> --> Justin Low Wednesday, 11/10/2023 | 11:12 GMT-0 11/10/2023 | 11:12 GMT-0 <!--> --> More confident that...
US MBA mortgage applications w.e. 6 October +0.6% vs -6.0% prior
Prior -6.0%Market index 179.3 vs 178.2 priorPurchase index 137.5 vs 136.6 priorRefinance index 385.8 vs 384.6 prior30-year mortgage rate 7.67% vs 7.53% priorAfter a sharp drop in mortgage applications in the week before, there is a mild bounce back in activity with...