The Bank of Canada took an axe to its benchmark rate today with a 50bp cut:Check out those posts above for the 'as it happened', but if you wan the TL;DR (mine anyway), the Bank of Canada cut 50 due to:rising unemployment (quite quickly)inflation well on its way to...
Rabobank analysts see downside risks to Euro forecasts
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US stocks closed lower on the day but off their lows levels
US stocks close lower on the day but off their lowest levels:Dow industrial average -409.94 points or -0.96% at 42514.95. At session lows, the index was down -631.72.S&P index fell -53.78 points or -0.92% at 5797.42. At session lows the index was down -88.79...
Forexlive Americas FX news wrap 23 Oct: Dollar moves higher but Beige Book tempers gains
The Bank of Canada (BOC) reduced its policy rate by 50 basis points to 3.75% and continues its policy of balance sheet normalization. The global economy is expected to expand at a rate of about 3% over the next two years.Stronger growth in the U.S.Subdued growth in...
BRICS inventor says as a group BRICS has achieved very little over the past 15 years
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,...
Economic calendar in Asia Thursday, October 24, 2024 – preliminary PMIs (October)
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Trade ideas thread – Thursday, 24 October, insightful charts, technical analysis, ideas
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,...
USDCHF continues to move higher, but just barely
The USDCHF has been trading higher since September 30, and after breaking outside of the "Red Box" on October 4. The price moved up to a swing area and then above the 38.2% retracement during last week's trading. On Monday this week, the price corrected down to retest...
Beige Book cools the US dollar bid
AI imageSeveral Fed officials -- including Powell -- cited the Beige Book as one of their reasons for cutting 50 basis points in September. There is a belief at the Fed that anecdotal data is often better at capturing turning points than hard numbers, particularly in...
BOJ Governor Ueda: Underlying inflation has been rising slowly
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BOE’s Bailey: Disinflation has taken place faster than expected in the UK and elsewhere
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,...
CIBC: It would take a major turn of events to stop another 50 bps Bank of Canda cut in Dec
CIBC thinks the Bank of Canada will cut rates by 50 basis points again in December."With the current 3.75% rate still in restrictive territory, it would take a major turn of events to stand in the way of another 50 basis point reduction in December," writes CIBC chief...
Nasdaq looks toward 200 hour MA support target
The major US stock indices are tumbling to new lows. Dow industrial average is down 580.31 points or -1.35% at 42344S&P index is down 80.43 point toward -1.37% at 5770.88NASDAQ index is down 396 points or -2.13% at 18177.64.Technically, the NASDAQ index is moving...
ECB’s Panetta: We have clearly seen an improvement in the inflation 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,...
Ranking of the districts and a look at the “number” qualifiers in Beige Book for October
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Beige Book shows economy flatening, employment moderated further
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,...
The Beige Book is coming up next. What to watch for
Beige BookThe September Beige Book was one of the final straws that pushed the Fed towards cutting rates by 50 basis points later that month. The next edition is due at the top of the hour. In that report, economic activity was said to growth slightly in three...
Further weakening in risk appetite isn’t helping the bond market
There is something of a flight-to-safety trade ongoing in US markets with the S&P 500 now down 1.2% and the Nasdaq off by 2%. Oil, gold and risk-sensitive currencies are also selling off.You would expect that to lead to some bids in bonds but they aren't...
Inflation, Interest Rates, and the US Dollar: The Trump Effect
First and foremost, prediction market traders are betting to make money, not showing loyalty to any politician. Their goal is profit, and they're trying to secure bets at favorable odds based on who they think will win. Several factors, like strong GOP voter...
US treasury auctions off $13 billion of 20 year bonds at a high yield of 4.590%
The US treasury auctioned off $13 billion of 20 year bonds: High yield 4.590%WI level at the time of the auction 4.574%Tail +1.6 basis points vs six-month average -0.62 basis points (although the last election was 2.0 basis points)Bid to cover 2.59Xvs six-month...