The week is finally here. The US CPI will kickstart the markets on Tuesday and that will transition into the Fed decision on Wednesday. Then when that is done, the SNB, BOE and ECB will all announce their interest rate decisions on Friday before the transition into the year end. To better prepare, it is
The Australian dollar has been stubbornly strong in the past few weeks and I suspect that’s a sign of money rotating into Australia on China reopening. The outlook for coal, iron ore and base metals is improving with China getting back in the mix and the RBA moving to the sidelines will stabilize Aussie housing.
An outage on the largest oil pipeline to the United States from Canada could affect inventories at a key U.S. storage hub and cut crude supplies to two oil refining centers, analysts and traders said on Friday. TC Energy’s Keystone pipeline ferries about 600,000 barrels of Canadian crude per day (bpd) to the United States.
Bank of England to hike rates by 50 bps, fresh forecasts coming up. Concerns about a global economic setback weighed on US indexes. GBP/USD trades near its recent multi-month high of 1.2343. The GBP/USD pair peaked at 1.2321 after Wall Street’s opening but trimmed intraday gains and hovers at around 1.2280. The pair ends the
Since their inception, cryptocurrencies have seen rapid growth and widespread market adoption, as evidenced by the assets tied to crypto assets that have started to appear in the portfolios and trading methods of numerous asset managers. The process of purchasing and selling cryptocurrencies to profit is known as cryptocurrency trading. Trading in cryptocurrencies can be
The US 10 year yield has fallen to a low of 3.408% today is currently trading at 3.448%. The move to the downside was strong enough to take the yield back below its 100 day moving average of 3.494%. The last time the yield traded below the 100 day moving averages back on August 19.
There have been rumors of Janet Yellen leaving the White House for a year now but with the midterms done, maybe it actually happens this time. Fox Business’ Charlie Gasparino reports that one of the front-runners if she ‘leaves’ is Bank of America CEO Brian Moynihan. I don’t think he would have any trouble getting
The most volatile year ever for natural gas futures has taken another sharp turn recently. A forecast of unexpected warm weather and reports of a delay in restarting a big LNG export facility in the US was among the major driving factors. However, the commodity was one of the best-performing asset classes in 2022. A
Trading in the markets was rather subdued last week. Canadian Dollar was an exception, as it was pressured by falling oil price and a dovish BoC hike. The Loonie just closed marginally higher against Yen, which was also soft. On the other hand, Swiss Franc was the best performer, followed by the resilient Aussie and
The US Michigan Consumer Confidence Index improved to 59.1 in December. The uncertainty surrounding the US Federal Reserve’s decision weighs on mood. EUR/USD eases following upbeat US data but holds above 1.0500. Despite a knee-jerk mid-week, the EUR/USD pair is comfortably trading above the 1.0500 threshold, seesawing around 1.0530 following the release of the December University
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The NZD/JPY weekly chart is one of the more-interesting ones out there right now as it brushes up against the September high. If that breaks, it will take the pair all the way back to 2015 levels and a time when the pair touched 94.00. The general feeling is that yen weakness is over after
Markets: Gold up $6.50 to $1795 US 10-year yields up 9.6 bps to 3.59% WTI crude oil flat at $71.45 after touching $70.06 S&P 500 down 0.7% NZD leads, CAD lags The dollar tried to rally on a hot PPI number for the second month in a row but the skeptics one the day as
Oil prices were stable on Friday, although both benchmarks headed for a weekly loss on worries over weak economic outlook in China, Europe and the United States weighing on oil demand. Brent crude futures were at $76.20 a barrel, up 5 cent, at 1216 GMT. Brent hit a 2022 low this week. U.S. West Texas
Dollar is trying to recover in early US session, with help from 10-year yield which reclaims 3.5% handle. Yet again there is now clear follow through buying. News flow is slow today, without much surprise from US PPI data. As Fed is already in a blackout period, there is no comment from US monetary policy
Wholesale prices rose more than expected in November as food prices surged, dampening hopes that inflation could be headed lower, the Labor Department reported Friday. The producer price index, a measure of what companies get for their products in the pipeline, increased 0.3% for the month and 7.4% from a year ago, which was the