The NASDAQ index is ignoring the sharp rise in yields today. The 10 year yield is now up 10 basis points at 4.672%. The two-year is up 6.4 basis points at 5.110%.NASDAQ index is up 1%For the NASDAQ index it's now up over 1%. The index is trading at 13358.59. That's up...
European equity close: Declines in the 1% range
US equities are looking better at the moment but it's a rough look for Europe to start the new month:Closing changes:Stoxx 600 -1.0%German DAX -1.0%Francis CAC -1.1%UK's FTSE 100 -1.3%Spain's IBEX -1.2%Italy's FTSE MIB -1.5%Last week, it looked like the DAX was making...
Roundtable LIVE. Want to watch the roundtable with Harker/Powell?
> Central Banks > Roundtable LIVE. Want to watch the roundtable with Harker/Powell? Central Banks Fed Chair Powell and Philadelphia Fed President Patrick Harker participate in a community roundtable with workers, small business owners, local employers, and...
BOE’s Mann: I see more resilient domestic demand in the UK economy
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,...
Fed’s Harker and Powell are speaking on a roundtable. There are no pre-release comments.
Be aware,Feds Powell and Richmond Fed Pres. Harker are due to participate in a roundtable discussion with workers, small business owners, and community leaders in York Pennsylvania. There is no pre-released comments it seems.Of course, a roundtable discussion tends to...
USDCHF makes a break for it. Trades back above 100H MA tilting bias back to the upside.
The USDCHF is pushing higher in early US trading and in the process has moved back above its 100-hour moving average at 0.91609. Higher yields with the 10 year yield up over 8 basis points, is helping the bullish bias. The high price from last week reached 0.92247...
US 10-year yield rises 10 basis points, USD continues to run
Today's round of US economic data was good and JPMorgan chief Jamie Dimon was upbeat about the consumer and credit. That's stoked the flames of the bond inferno as we turn the calendar into October.There was some hope that quarter-end machinations were behind at least...
Fed’s Bowman: It will ‘likely be appropriate’ to hike further
It will likely be appropriate to raise rates further and hold them at restrictive level for some timeInflation remains too highSees risk that high energy prices could reverse some of the recent progress on lowering inflationFrequency and scope of recent data revisions...
USDCAD runs up for the 2nd consecutive day. Looks to test swing area resistance.
The USDCAD is up strongly for the 2nd consecutive day. The price has run up from a low of 1.35608 intraday to a high of 1.3667. At the higher the prices testing a swing high going back to April 28. There is intraday support near 1.3639 which corresponds to swing highs...
Jamie Dimon: The economy is ‘still ok’
Comments from the JPM leader.SVB did a lot of things on the micro level in terms of customer serviceIn every app and every database, you will be applying AIThe consumer is still in good shape, they still have more money than before covidCredit is not...
US August construction spending +0.5% vs +0.5% expected
> US August construction spending +0.5% vs +0.5% expected US August construction spending <!--> Adam Button Monday, 02/10/2023 | 14:00 GMT-0 02/10/2023 | 14:00 GMT-0 --> <!--> Prior was +0.7% (revised to +0.9%) ADVERTISEMENT - CONTINUE READING BELOW...
US September ISM manufacturing PMI 49.0 vs 47.8 expected
ISM manufacturingPrior report 47.6Prices paid 43.8 vs 48.6 expected. Last month 48.4Employment 51.2 vs 48.3 expected. Last month 48.5New orders 49.2 vs 46.8 priorInventories 45.8 vs 44.0 priorProduction 52.5 vs 50.0 priorI've been writing for awhile about green shoots...
US final Sept S&P Global manufacturing PMI 49.8 vs 48.9 prelim
Prelim was 48.9Prior was 47.9New orders fell for the fifth month running in September, albeit at the slowest pace in this periodExpectations for future output also rose, hitting the highest since April 2022Production returned to expansionChris Williamson, Chief...
Major indices are mixed to start the new trading week/month/quarter
The major US stock indices are mixed in early US trading. The snapshot of the market 5 minutes into the open is showing:Dow Industrial Average -17.14 points or -0.05% at 33490.37S&P +1.46 points or 0.03% at 4289.50NASDAQ index +42.80 points or 0.32% at...
Canada September S&P Global manufacturing PMI 47.5 vs 48.0 prior
Canada S&P Global manufacturing PMIPrior was 48.0Output, orders and employment all fell amid reports of softening market conditionsCost pressures showed signs of stabilisation following August’s upturnThe decline in production was the steepest since August 2022US...
Kickstart your FX trading on October 2 with a technical look at EURUSD, USDJPY and GBPUSD
To kickstart your trading day, week, month and quarter in the Forex on Octoebr 2, 2023, I take a look at the EURUSD, USDJPY, and GBPUSD from a technical perspective. Below is a verbal summary of the video details:EURUSD: The EURUSD stalled against a cluster of...
Tesla Q3 deliveries miss estimates, shares drop
Deliveries 435,059 vs 466,140 in Q2Production 433,059 vs 479,700 in Q2The vast majority of Tesla sales are the Model 3/Y."A sequential decline in volumes was caused by planned downtimes for factory upgrades, as discussed on the most recent earnings call. Our 2023...
The CHF is the strongest and the AUD is the weakest as the NA session begins
The strongest of the weakest of the major currenciesThe CHF is the strongest and the AUD is the weakest as the NA session begins. The US avoided a government shut down when Speaker of the House, Kevin McCarthy found a way around his own party blockade Saturday. They...
US manufacturing and Fedspeak highlights the economic calendar today
The early optimism in global markets is god with the euro now down 42 pips and S&P 500 futures lower by 7 points. That's been coupled with yields rising 4-8 bps across the curve in a sign that it wasn't just quarter end hurting bonds last week.In any case, the...
Gold Latest – XAU/USD Slump Continues as US Bond Yields Remain Elevated
Gold (XAU/USD) Analysis, Price, and ChartUS Treasury yields remain near recent multi-year peaks.Gold is closing in on the late-February low at $1,805/oz.Download our brand new Q4 Gold Forecast Recommended by Nick Cawley Get Your Free Gold Forecast Get My Guide US...