Submitted Sep 2, 2024|From forex.com|2 comments

US economic data dominates the docket this week, with the slew of employment reports being the most notable. Traders are paying extra attention to jobs figures after Jerome Powell opened the door to multiple rate cuts, citing a labour market which ...

Submitted Aug 28, 2024|From forex.com

Nvidia (NVDA) shares initially fell over 8% after hours despite beating earnings estimates, as their Q3 revenue outlook was revised -2% lower. Q2 EPS was at $0.68 compared with $0.64 expected and revenue of $30 billion compared with vs $28.7 billion ...

Submitted Aug 11, 2024|From forex.com

Two RBA speeches take place on Monday and Friday. Deputy governor Andrew Hauser speaks at the ESA Business Lunch in Brisbane at 09:30 Monday, and Governor Michelle Bullock appears before the House of Representatives on Economics in Canberra on ...

Submitted Aug 8, 2024|From forex.com

Looking across major indices and forex pairs, all I see is the same setup. A sudden drop of risk assets, with cautions gains now lifting them from their lows. Comments from Fed members have soothed fears of an emergency rate cut, lifting US yields ...

Submitted Aug 6, 2024|From forex.com

Monday’s broad risk-off rout was beginning to look like nothing more than a bad dream early on Tuesday, with Wall Street indices recouping most of Monday’s losses early in yesterday’s session. Reassuring comments from the Fed that the job market ...

Submitted Aug 5, 2024|From forex.com

Futures traders increased their net-long exposure to the US dollar across all currencies by US $6.3 billion last week, although the US dollar index fell -1% on Friday. • Net-long exposure to GBP/USD futures fell from a record high by -27% (-30.1k ...

Submitted Aug 4, 2024|From forex.com

The RBA are very unlikely to raise their cash rate thanks to a weaker set of Q2 inflation figures. The question for Tuesday’s meeting is whether that will be enough for the RBA to remove their hawkish bias. Given the Fed are now officially dovish ...

Submitted Jul 28, 2024|From forex.com

Australia’s Q2 inflation report on Wednesday is the key domestic event next week. While producer prices are released on Friday, markets would likely have decided already whether the RBA will hike again in August, based on the CPI data alone. Firm ...

Submitted Jul 25, 2024|From forex.com|1 comment

US growth far surpassed expectations in Q2, rising 2.8% q/q compared with 2% estimated and 1.4% prior. Core PCE prices increased at a slower pace than feared at 2.9% q/q, although slightly above the 2.7% previously. Personal spending was also a beat ...

Submitted Jul 17, 2024|From forex.com

Japan’s Ministry of Finance (MOF) appears to be taking full advantage of the path of least resistance by intervening when the Fed change their narrative towards a dovish pivot. As it seems that the MOF once again intervened on the yen on Wednesday ...

Submitted Jul 11, 2024|From forex.com

The US inflation report was about as good as any dove could have hoped for, with all headline figures falling below expectations. We’ve now seen the complete set of weak CPI, PCE, NFP and ISM reports to more than suggest the US economy is slowing. ...

Submitted Jul 4, 2024|From forex.com|4 comments

If we look at data over the last couple of weeks, it is hard to argue that the US economy is not slowing. Core PCE and super core PCE surprised to the downside last week, and the soft ISM services report is the latest to bring into question whether ...

Submitted Jul 3, 2024|From forex.com

A softer-than-expected ISM services report was the gift that Fed doves have been waiting for ahead of a key Nonfarm payroll report on Friday. It also made for a lively session on the eve of Independence Day, with liquidity expected to be much lower ...

Submitted Jul 1, 2024|From forex.com

Australia's uncomfortably high inflation report last week means there is a real risk the RBA could now hike rates by 25 basis points (bp) at their August meeting. Not only has the inflation rate been creeping higher this year, but its pace has also ...

Submitted Jun 21, 2024|From forex.com

Inflation reports are the main theme for next week, with figures set to be released from the US, Canada, Australia and Japan. Naturally, the US PCE inflation report sits at the top of the pile, but we’ll need to wait until Friday before it is ...

Submitted Jun 20, 2024|From forex.com

Soft US retail sales data has rekindled hopes that the Fed may have more leeway to cut rates sooner than they're letting on. This has provided a nice bounce for metals in Thursday's Asian session, with many now waiting to see if momentum can be ...

Submitted Jun 18, 2024|From forex.com

US yields and the dollar were lower on Tuesday as US retail sales came in softer than expected. Odds of a September cut rose to 61% from 56% ahead of the data and up from 46% one week ago – before last week's FOMC meeting. As a reminder, the Fed is ...

Submitted Jun 17, 2024|From cityindex.com

The Australian dollar rose against all FX majors except the Swiss Franc and New Zealand dollar. Although it handed back much of the gains earned earlier in the week and is lower against most currencies for the month of June. Ultimately, price on ...

Submitted Jun 11, 2024|From forex.com

Given the strong and broad gains gold saw from January through May, you'd be forgiven for assuming it was a one-way bet for bulls this year. The usual calls for $3000 emerged with each new record high, but they've quieted down amidst the recent ...

Submitted May 29, 2024|From forex.com

Weak demand for US 7-year treasuries sent Wall Street indices lower on Wednesday, on concerns that funding the US deficit will drive up yields alongside ‘higher for longer’ Fed rates. And that manifested with a higher US yields curve and a stronger ...