The Wall Street Journal is reporting that the Biden administration is expected to announce tax-credit rules for electric vehicles (EVs) on Friday, impacting the American EV market.These rules involve a $7,500 tax subsidy for new EV buyers, with a specific focus on...
J.P. Morgan’s Dimon: We as a nation should not be complacent
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 Two Best Performing Major Currencies of 2023!
In 2022, the best performing currency was the US Dollar, which outcompeted the whole of the market. This was largely due to the Federal Reserve consecutively increasing interest rates for 8 months and then again in July. The US Dollar was also supported by the...
US stocks higher to start Wednesday’s trading
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 stocks are set open higher. Futures are implying a solid start for the major indices
It is hump day in the week, and the major US stock indices are ± unchanged for the trading week. However, things are looking good in premarket trading to tilt the bias more to the upside. A gain this week would be the 5th consecutive positive week for the major...
USDJPY falls below 100-day MA, Investors eyeing 148.00 now. Sellers had their shot
The USDJPY fell in the Asian session in the process extended below the low price from last week at 147.14 and then the 100-day moving average at 146.98. The move below the 100-day moving average was the 1st since April 2023. It should have led to lower levels and...
Live Analysis – US GDP
The big upward revision to Q3 GDP to a 5.2% growth rate was generally taken in stride. Treasury yields remain lower, with the front end down sharply, even after plunging yesterday on the dovish read to Fedspeak from Governor Waller who was once one of the most...
EURUSD weakens as German CPI disappoints, paving the way for EU CPI data tomorrow
The German preliminary CPI data released today was weaker than anticipated, showing a -0.4% decline compared to the expected -0.1%. On a year-on-year basis, it stood at 3.2%, lower than the forecasted 3.5%. This outcome could positively influence the upcoming CPI data...
US wholesale inventories for October -0.2% versus 0.1% 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,...
US advanced goods trade balance for October -$89.84 billion vs. -$86.4 billion estimate
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 Q3 GDP (second estimate) 5.2% vs 5.0% expected
Advanced reading was +4.9% Q2 final reading was +2.1%Personal consumption +3.6 vs +4.0% advance readingCore PCE prices +2.3 vs +2.4% expectedPCE prices +2.8% vs +2.9% advanceGDP deflator +3.5% vs +3.5% expectedGDP final sales +3.7% vs +3.5% advancedCorporate profits...
Canada Q3 current account balance -$3.22B vs $1.00B expected
Prior was -$6.63B (revised to -$7.328B)Canada’s current account deficit narrowed significantly to $3.2 billion in Q3 2023, down from larger deficits earlier in the year but still far larger than expected.Goods posted a slight surplus in contrast to the large deficit...
The NZD is the strongest and the AUD is the weakest as the NA session begins
The strongest to the weakest of the major currenciesAs a North American session begins, the NZD and the AUD is the weakest.The USD is mixed with modest changes with the exception of a 0.36% gain vs the AUD and a -0.31% loss vs the NZD in the morning snapshot. The RBNZ...
Germany November preliminary CPI +3.2% vs +3.5% y/y 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,...
ForexLive European FX news wrap: Brief respite for the dollar, stocks finally waking up
Headlines:Markets:NZD leads, AUD lags on the dayEuropean equities higher; S&P 500 futures up 0.4%US 10-year yields down 4.8 bps to 4.288%Gold down 0.1% to $2,039.32WTI crude up 1.9% to $77.85Bitcoin up 0.8% to $38,255The story of the day is that bond yields...
Dollar steadies but is the relief just temporary?
The dollar is surprisingly finding some steadier footing in European trading now, with USD/JPY itself up 0.15% to 147.70 on the day. That's quite a modest recovery from the low of 146.90 in Asia trading. Meanwhile, EUR/USD is also down 0.1% to 1.0980 and AUD/USD down...
Stocks look to make up for lost ground from earlier this week
You would think that with the plunge in bond yields this week, equities would've been on a tear and entering a strong rally mode. Instead, it has been anything but in the last two days. And only now in European trading are we seeing some tentative signs of stronger...
US MBA mortgage applications w.e. 24 November +0.3% vs +3.0% 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,...
OECD sees global growth slowing further but hard landing to be avoided
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,...
Eurozone November final consumer confidence -16.9 vs -16.9 prelim
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,...