The RBA statement headlines the data agenda for the Asian session. Earlier:The earliest indications for August inflation in Australia won't trouble the RBA too much, but they won't shrug them off either: This snapshot from the ForexLive economic data calendar, access...
Trade ideas thread – Tuesday, 5 September 2023
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,...
Biden sounds surprisingly optimistic on autoworker strike
US President Joe Biden is in Philadelphia today for a Labor Day speech and sounded surprisingly optimistic about an autoworkers deal.“I’m not worried about a strike. I don’t think it’s going to happen,” Biden told reporters.UAW members voted to authorize a strike last...
Oil gains for the eighth consecutive day in highest close since November
WTI crude oil dailyMarkets are generally closed today but oil traded electronically and it picked up from where it left off last week. WTI crude climbed for the eighth day in a row, rising 38-cents to $85.93. Market watchers have been impressed by drawdowns in visible...
What’s priced in for the Bank of England
The market continues to anticipate a Bank of England rate hike later this month and the strong possibility of another one in November.High UK inflation is problematic for the Bank of England as it tries to tame runaway inflation but chief economist Hew Pill wants to...
Tesla is doing its part to fight inflation
These price decreases of 28% and 34% for high-end Tesla models are like a rorschach test for market watchers. I have heard so many takes on what this means for Tesla and automotive economics:Tesla demand has fallenEV costs have fallenTesla is aggressively trying to...
European equity close: Sluggish finish after a good start
European equities opened the week with some nice gains but they slowly evaporated before some heavier selling in the final hour.Closing changes:Stoxx 600 -0.2%German DAX -0.2%UK FTSE 100 -0.2%French CAC -0.3%Italy MIB -0.1%Spain IBEX -0.4%Fourth day in a row of...
Steady bleed for European stocks after a solid open
The German DAX index has fallen through Friday's low and is now down 0.1% on the session. It opened solidly higher but there's been steady selling since that's accelerated as we move into the final hour of trading.It could be that a pirate has taken over Germany.Olaf...
ECB’s Lagarde: It’s critical for central banks to keep inflation expecations anchored
It is exactly when people are paying most attention that central banks should deliver their key communication to ensure that those expectations remain firmly anchoredIt will be critical for central banks to keep inflation expectations firmly anchored while these...
The hurricane map is mostly subdued but there’s a disturbance in the mid-Atlantic
Florida continues to clean up from Hurricane Idalia but the season so far has been largely a non-event for the energy market. For the next week that will continue to be the case as we move through the peak of the hurricane season.At the moment,a couple storms are...
It’s Labor day in the US and Canada
Remember: Safety first in the forex marketIt's the first Monday in September and that means it's Labor Day in the US and Canada. Markets are closed and the economic calendar is bare.The FX market doesn't close for holiday though so trading continues and the euro and...
ForexLive European FX news wrap: Dollar slightly lower to start the new week
Headlines:Markets:GBP leads, JPY lags on the dayEuropean equities higher; S&P 500 futures up 0.1%Gold flat at $1,939.05WTI crude flat at $85.58Bitcoin up 0.5% to $25,875It was a quiet one in Europe today as markets are also taking a bit of a light breather with it...
Nasdaq Composite Technical Analysis – Watch this key support
It’s increasingly evident that the market is taking the weaker labour market data as good news for inflation and the soft-landing scenario. In fact, last week we got many big misses heading into the NFP report, but the US Jobless Claims showed that the labour market...
Gold Stumbles Following European Open as Silver Selloff Continues, Where to Next?
XAU/USD, XAG/USD PRICE FORECAST:MOST READ: US Dollar Forecast: DXY Poised to Extend Rally Despite Suggestions the Fed May be DoneGold remained on the front foot in the Asian session before a pullback this morning following the European open. The precious metal is...
Central bank policy decisions in focus this week
The two big ones to watch this week are the RBA (tomorrow) and the BOC (Wednesday). Both major central banks are expected to keep their respective policy rates unchanged at 4.10% and 5.00% respectively.For the RBA, this will be Philip Lowe's last policy meeting as...
VEXT is Live On ByBit Now
Veloce, the world’s largest digital racing media network, has just launched (10am UTC) its governance and utility token, VEXT, exclusively on ByBit, one of the global top leading centralized exchanges.Users can head over to ByBit now so they don’t miss out on the...
Hedge funds have ditched short bets against US regional banks – Goldman
The firm says that hedge funds have dropped short trades on US regional banks as of the end of August and instead have now turned bullish on the broader US financial sector in general. The note is from Goldman's prime brokerage desk, which serves hedge funds, and says...
Gold Technical Analysis – Bullish signs keep on accumulating
The US data started to surprise to the downside recently and that has brought real yields and the US Dollar down. In fact, the market is increasingly confident that the Fed is done with the tightening cycle, and we are now looking at when the central bank is going to...
Eurozone September Sentix investor confidence -21.5 vs -20.0 expected
Prior -18.9Investor sentiment continues to decline and points to a further deterioration in economic sentiment in the euro area. Sentix notes that the situation in Germany especially remains "particularly precarious". And they also point out that the German current...
Dow Jones Technical Analysis – Consolidating around a key resistance
It’s increasingly evident that the market is taking the weaker labour market data as good news for inflation and the soft-landing scenario. In fact, last week we got many big misses heading into the NFP report, but the US Jobless Claims showed that the labour market...