Author: FX
WTI crude oil futures settled at $89.31, down $2.88 (-3.12%) on the day after trading in a wide range between $87.68 and $92.83. Despite today’s sharp decline, crude still finished the week up $7.51, or 9.17%, highlighting just how volatile trading has been.From a technical perspective, the daily chart shows buyers made a run to $93.50 on Thursday, briefly pushing above the 50% retracement of the decline from the March high to the July low at $93.26. However, the breakout quickly failed, inviting sellers back into the market. Today’s rally topped out at $92.83, about 43 cents shy of that…
NY Times: Trump meets with top advisors to decide whether to increase military pressure on Iran !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
Pres. Trump is on TruthSocial saying: “The European Union is at it again and, as usual, taking direct aim at GREAT American Companies! After having fined Apple, for no reason at all, 15 Billion Dollars, Meta, 3 Billion Dollars, Amazon 2.5 Billion Dollars, and many others, we have just been informed that Google, a truly advanced and amazing group, has been fined yet another 1 Billion Dollars, without explanation. This brings the Google total to over 18 Billion Dollars! This illegal and highly discriminatory practice started at these high levels during the first year of the Sleepy Joe Biden Administration,…
AUDUSD stuck in the mud. Looking for a break from the non-trend. !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
Trump’s temporary tariffs expired at midnight Friday. New ones landed in the same instant. Same wall, different bricks. The United States now taxes imports from 60 trading partners at rates between 10% and 12.5%. Count the European Union’s members separately, and that group covers more than 80 countries. The administration calls it a forced-labor crackdown. Traders should read it as round two of the tariff regime the Supreme Court struck down back in February. Trump’s New Tariffs: Key Takeaways New rates: 10% to 12.5% tariffs now apply to imports from 60 economies (more than 80 countries counting the EU’s members…
US new-home sales for the month of June 0.628M versus 0.610M estimate !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
Brown Brothers Harriman’s (BBH) Elias Haddad notes that USD/JPY is consolidating just below a multi-decade high as Japan’s private sector growth strengthens and Consumer Price Index (CPI) tracks below Bank of Japan (BoJ) forecasts. Markets expect the BoJ to hold at 1.00% next week, with around 60 bps of tightening priced over twelve months. This leaves scope for higher BoJ rate expectations, seen as supportive for Japanese Yen (JPY).BoJ outlook and growth pulse support JPY”USD/JPY is consolidating just under a multi-decade high. Japan private sector growth strengthens to five-month high in July, supporting the BoJ’s hawkish bias. The composite PMI…
The European Central Bank kept its deposit facility rate (the rate the ECB pays commercial banks for overnight deposits, which anchors borrowing costs across the eurozone) at 2.25% on Thursday. Nobody was surprised. Markets had priced in a greater than 99% probability that the ECB would leave rates unchanged. Yet EUR/USD still slipped 0.28% to 1.1378 that day. That highlights one of the most important things to understand about ECB meetings. The rate decision usually isn’t the main story. The press conference is. Why Does the Press Conference Move the Market More Than the Rate? By the time a central…
When you force yourself to identify the emotions behind bad trading decisions, you may spot negative patterns and start correcting them. Source link
Euro area business activity rises for first time in four months as demand conditions rebound !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link