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, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Crude oil futures is settling at $68.65. That is down $0.32 -0.46%. The high price reached $70.32. The low price was at $68.50 THe selling into the settlement took the price below the 200 hour MA at $68.91. This article was written by Greg Michalowski at www.forexlive.com. Source link

UPCOMING EVENTS: Monday: New Zealand Services PMI. Tuesday: Eurozone ZEW, Canada CPI, US Retail Sales, US Industrial Production and Capacity Utilization, US NAHB Housing Market Index. Wednesday: UK CPI, US Housing Starts and Building Permits, BoC Summary of Deliberations, FOMC Policy Decision. Thursday: New Zealand Q2 GDP, Australia Labour Market report, BoE Policy Decision, US

Monday, September 16 (ET) Tuesday, September 17 (ET) 5:00am ET: German ZEW Economic Sentiment (Forecast: 17.2, Previous: 19.2) 8:30am ET: CAD CPI m/m (Forecast: 0.1%, Previous: 0.4%) 8:30am ET: US Core Retail Sales m/m (Forecast: 0.2%, Previous: 0.4%) 8:30am ET: US Retail Sales m/m (Forecast: -0.2%, Prvious: 1.0%) Wednesday, September 18 (ET) 2:00am ET: UK

The major US stock indices closed the day with gains. The NASDAQ and the S&P had a perfect week with five straight winning days. The NASDAQ index erased it -5.77% decline from last week with a gain of 5.95%. A snapshot of the closing levels today shows: Dow industrial average rose 297.01 points or 0.72%

China retail sales, industrial output, investment data for August 2024 – another round of disappointing results. Retail Sales +2.1% (YoY) (Aug) expected 2.5%, prior 2.7% Industrial Production +4.5% (YoY) (Aug) expected 4.8%, prior 5.1% Fixed Asset Investment +3.4$(YTD) (YoY) (Aug) expected 3.5%, prior 3.6% Unemployment 5.3% expected 5.2%, prior 5.2% Also published were home prices

NASDAQ and S&P indices end the week with five straight days of gains As the day and week comes to a close, the JPY is ending the day as the strongest of the major currencies and the NZD is the weakest. The US is ending the day mixed with most of the declines coming vs

Chair Powell preparing for a BIG cut? To cut, or not to cut 50 basis points. As the Federal Reserve’s September meeting approaches, JP Morgan reiterates its call for a 50 basis point cut, scheduled for Wednesday at 2 PM ET. Following Nick Timiraos’ article highlighting the Fed’s predicament, market odds have shifted from 20-80

This will include steep tariff hikes on Chinese EVs, solar cells, semiconductors, and steel among other strategic goods. More specifically, it will be a 100% duty on Chinese EVs, 50% on solar cells, and 25% on steel, aluminum and key minerals. All of which will be going into effect on 27 September. As for a

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, experience level, and risk tolerance. You could lose some or all your initial investment; do not

A Reuters/IPSOS poll after the debate shows: Harris 47% . Trump 42% Among registered voters who heard at least something about Tuesday’s presidential debate, 53% said Harris won, while 24% said Trump won Asked which of the two stumbled and it didn’t appear sharp, Trump was the pick of 52% percent of voters familiar with

In FX, the changes are light overall with dollar pairs keeping in relatively narrow ranges thus far today. The euro is in focus amid the ECB later but there shouldn’t be any real surprises from the decision itself. EUR/USD is trapped today in a 17 pips range and understandably so. The pair has very large

The Melbourne Institute Survey of Consumer Inflationary Expectations for Australia shows a drop to 4.4% in September prior 4.5% The Reserve Bank of Australia target band is 2 to 3% for inflation. Expectations are well above official CPI rates (quarterly and monthly) This article was written by Eamonn Sheridan at www.forexlive.com. Source link

Close to 40% of Gulf of Mexico oil production is shut due to Hurricane Francine. The storm is a category 1 with when so 90 mph and looking to make landfall on the Louisiana coast. This article was written by Greg Michalowski at www.forexlive.com. Source link

Treasuries are keeping strongly bid so far this week and we’re seeing some key levels being challenged. 10-year yields are down to their lowest since June last year, down to 3.61% currently. Meanwhile, 2-year yields are down to their lowest in almost two years as it falls by nearly 5 bps today to 3.56% now:

We’ve had basically zero of substance on economic policies. There was some blather (from both) about tariffs introduced by Trump during his term, and not removed during the Biden admin. But that was about it. No detail. FX not doing much. USD/JPY update: This article was written by Eamonn Sheridan at www.forexlive.com. Source link

High Yield:3.440% WI Level at the time of the auction: 3.457% Tail: -1.7 bs Six-auction average: 0.1bps Bid-to-Cover: 2.66X Dealers:10.45% Directs (a measure of domestic demand):11.3% Indirects (a measure of international demand):78.24% AUCTION GRADE: A Details: The International buyers showed up and crowded out the other bidders. The international buyers took 78.24%. That was well

As a reminder, the debate will take place later in the day at 9pm EDT (or 0100 GMT the next day). I shared some thoughts previously in this post here: Just a week to go until the next US presidential debate As with these things, it often comes down to how things are said rather

National Australia Bank monthly survey of business, for August 2024 Business Confidence -4 prior +1 Business Conditions +3 prior +6 more to come This article was written by Eamonn Sheridan at www.forexlive.com. Source link

BofA anticipates the European Central Bank (ECB) will implement a 25 basis point (bp) cut to the deposit rate at its September meeting, with a modestly negative impact on the EUR due to unchanged guidance and weaker growth outlook. Key Points: Rate Cut Expectation: Deposit Rate: Expected to be reduced by 25bp. Other Policy Rates:

Mario Draghi: The EU must spend an additional €750B/year to compete globally. Mario Draghi calls for the EU to move towards regular joint debt issuance. This article was written by Arno V Venter at www.forexlive.com. Source link

Chinese inflation data, both CPI and PPI, for August 2024. more to come This article was written by Eamonn Sheridan at www.forexlive.com. Source link

gold monthly China’s central bank didn’t report any gold purchases in August, saying that reserves remain at 72.80 million troy ounces. Reported buying halted in May after many months of accumulation. Reports afterwards suggested the PBOC had grown price sensitive. in February the PBOC bought 390,000 ounces in March, 160,000 in April, 60,000 A few

WTI crude is still clinging to support but the picture is looking increasingly dire for brent. The global benchmark closed today at the lowest since December 2021. There have been a series of daily lows right around these levels and there are intraday lows that are worse since 2021 but this is the lowest daily

None of how the market is acting today in reaction to the lack of a strong 50 basis point signal from Waller should be a surprise. Here is what I wrote back in June: It’s been awhile since we’ve had a ‘normal’ rate cutting cycle so it’s worth a reminder about what happens and what

On Friday, shares of Nvidia fell 4% and chipmakers dragged the Nasdaq to its lowest in the three weeks. One reason for the sell-off was a Goldman Sachs note from Peter Oppenheimer arguing that traffic to ChatGPT was plunging. Goldman published this chart, which was later widely circulated (including in the Financial Times). It showed

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, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Markets: Gold down $20 to $2496 US 10-year yields down 1.4 bps to 3.72%, 2-year yields down 9.3 bps to 3.65% WTI crude oil down $1.07 to $68.08 S&P 500 down 1.7% JPY leads, AUD lags Non-farm payrolls Friday lived up to the hype, though it wasn’t exactly straightforward. The kneejerk reaction to the report

It’s been a ride today between a mixed non-farm payrolls report and Fed commentary. With the cards now all on the table, the market is shifting away from 50 basis points. Odds are down to 23% from as high as 57% in the immediate aftermath of the jobs report. At the same time, there are

Rate cuts by year-end Fed: 111 bps (57% probability of 25 bps rate cut at the upcoming meeting) ECB: 63 bps (98% probability of 25 bps rate cut at the upcoming meeting) BoE: 43 bps (77% probability of no change at the upcoming meeting) BoC: 58 bps (98% probability of rate cut at the upcoming