Oil dailyPrior crude -10584KGasoline -2666K vs -950K expectedDistillates +679K vs +239K expectedRefinery utilization -0.2% vs +0.1% expectedProduction estimate 12.8 mbpd vs 12.8 mbpd priorImpld mogas demand: 9.32 mbpd vs 9.07 mbpd priorCrude was flat ahead of the data...
Walmart tweaks pay structure for some new hires
The WSJ reports that Walmart has tweaked its pay structure so some new hires get less.Under the new structure most new hires will make the lowest possible hourly wage for that store. In the past, some new hires, such as those who collect items for online orders, would...
US weekly natural gas inventories +33 bcf vs +43 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,...
No comments from Harker on the economic outlook
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,...
Canada August Ivey PMI 53.5 vs 48.6 prior
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 turns positive ahead of US weekly oil inventories. Could be 10th day in a row of gains
WTI crude oil dailyI think it's settling into the market that there's more oil in the world that's being consumed than produced, somewhere in the neighbourhood of 2 million barrels per day. There are huge inventories of oil in the world but if the Saudis and Russians...
US equity futures fall further after strong initial jobless claims data
I want to highlight reecnt comments from the CEOs of Mastercard and Visa. Mastercard:"The consumer has been outperforming expectations. Obviously, our business is a good indicator of what the consumer is doing. We've more data than probably many others. So what we are...
US weekly initial jobless claims 216K vs 234K 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,...
Tickmill Launches its own Social Trading Platform: Tickmill Social Trading
Tickmill announced the launch of its latest product: Tickmill Social Trading. The platform is set to further help successful and regular traders, and IBs to explore new earning opportunities. The platform allows successful traders to share their own strategies with...
Initial jobless claims coming up next. Then it’s a heavy slate of central bank speakers
What's on the calendar today? We start with weekly initial jobless claims at the bottom of the hour. The consensus is 234K from 228K previously. There's a waiting game about when claims will finally break higher but no one is wagering on exactly when that will...
ForexLive European FX news wrap: Dollar steady, equities sluggish
Headlines:Markets:NZD leads, GBP lags on the dayEuropean equities mixed; S&P 500 futures down 0.4%US 10-year yields down 1.4 bps to 4.275%Gold up 0.2% to $1,920.83WTI crude down 0.5% to $87.06Bitcoin up 0.1% to $25,690There weren't any major headlines during the...
USD/CAD Price Forecast: Bullish Momentum Faces Stern Resistance
USD/CAD AnalysisSlowing Economy Weighs on Future Monetary Policy GuidanceThe surprise economic contraction experienced in Q2 reflects the tightening of financial conditions in Canada as a result of historically fast acceleration in the benchmark interest rate. Q2...
China has widened existing curbs on use of iPhones by state employees – report
The report says that China has in recent weeks widened existing curbs on iPhone usage by state employees, telling some central government agencies to stop using the Apple product at work. It is said that staff in at least three ministries and government bodies were...
EURUSD Technical Analysis – New lows in sight
US:The Fed hiked by 25 bps as expected and kept everything unchanged at the last meeting.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.Inflation measures since then showed further disinflation. The labour market displayed...
The bond selling this week hits pause so far in European trading
This is a familiar story as we were also in this position yesterday. For now, Treasury yields are sitting just slightly lower on the day but things could turn around once again later when we get to US trading. Keep that in mind if you're looking for any changes to the...
Dow Jones Technical Analysis – Watch this key resistance
Yesterday, the US ISM Services PMI beat expectations by a big margin and caused a selloff in the Dow Jones. The market pricing for future interest rates expectations turned a little bit more hawkish with basically a 50/50 chance of another hike in November and less...
Eurozone Q2 final GDP +0.1% vs +0.3% q/q second estimate
The negative revisions paints an even bleaker picture for the euro area economy as even Q2 growth was marginal at best. Looking at the breakdown:Household consumption flatGovernment expenditure +0.1%Gross fixed capital formation +0.1%External balance -0.4%Changes in...
UK businesses see lower inflation expectations for the year-ahead in August
One-year ahead inflation expectations seen at 4.8% (previously 5.4% in July)Three-year ahead inflation expectations seen at 3.2% (previously 3.3%)Current CPI perception seen at 7.8% (previously 8.4%)Full survey dataThat's at least some good news for the BOE but until...
Russell 2000 Technical Analysis – The bears are targeting a key support
Yesterday, the US ISM Services PMI beat expectations by a big margin and caused a selloff in the Russell 2000. The market pricing for future interest rates expectations turned a little bit more hawkish with basically a 50/50 chance of another hike in November and less...
China’s forex reserves fell by roughly $44 billion in August
The country's foreign exchange reserves fell to $3.16 trillion in August, down from $3.204 trillion in July - indicative of a $44.2 billion fall.Needless to say, they're not really burning through reserves to defend the yuan currency. That considering Beijing has...