Author: FX
The Dow Jones climbed into another fresh peak after PCE inflation print. Headline PCE inflation eased closer to Fed targets in August. Coming up next week: PMI activity measures, NFP labor print. The Dow Jones Industrial Average (DJIA) rallied into another fresh record high on Friday, spurred higher by a cooler-than-expected print in the US Personal Consumption Expenditure Price Index (PCE) for August. Sentiment indicators also improved for September, and rate watchers will be pivoting to look ahead to next week’s Nonfarm Payrolls (NFP) report. The PCE price index rose 0.1% in August, and chalked in PCE inflation growth of…
US inflation signals are cooling with PCE reading below expectations. Consumer sentiment has rebounded, indicating brighter economic expectations. USD might see additional downside if the markets remain stubborn on November’s 50 bps cut bet. The US Dollar Index (DXY), which measures the value of the USD against a basket of major currencies, stands soft after the release of the US Personal Consumption Expenditures (PCE) data from August. The headline PCE inflation, the Federal Reserve’s (Fed) preferred inflation measure, came in softer than expected, while the core PCE inflation matched expectations. Investors will be attentive to incoming data to continue placing…
The FT interviewed St Louis Fed President Alberto Musalem and he said that future cuts should come gradually but that if there’s further weakness, a faster pace could be appropriate. That’s hardly a departure from Powell. This article was written by Adam Button at www.forexlive.com. Source link
Iran’s supreme leader, Ayatollah Khamenei, is holding an emergency meeting of the Supreme National Security Council at his home compound, in response to Israel’s strike in Beirut that targeted the leader of Hezbollah, Hassan Nasrallah. The latest reports suggest Nasrallah was killed but there have been many conflicting reports for hours.The market seemingly isn’t too worried that Iran will get involved over the weekend. Perhaps the thinking is that they would have after the assassination in Beirut if so. Source link
In our previous update from two weeks ago, when the NASDAQ100 (NDX) was trading at $19000, we found that “contingent on holding above last week’s low, we should allow the index to rally to ideally $19350+/-125.” Over the next several days, it topped out when the FED announced its interest rate decision on Wednesday, September 18, at $19643 and dropped to $19330. So far, so good. However, the market decided it did not have enough, closing the July gap at $20200 yesterday. See Figure 1 below. The question now is, “Was that all she wrote?” Figure 1. NDX daily chart…
Sep. 27, 2024 3:00 PM ETSPDR® S&P 500® ETF Trust (SPY), XRTF, GM, NKE, FDX, TM, NOK, EL, SBUX, KR, TTE, PLUG, KNX, PAYX, HTLD, STZ, SKX, CCL, CAG, MKC, RMD, EYPT, SITC, NDSN, ENS, RPM, SAVA, CUK, INFN, ODFL, SMCI, CALM, LI, SAIA, APO, SSNLF, TSLA, WKHS, TH, CAPR, CARM, ADVM, SHOP, NNDM, RGNX, EDIT, LW, IBATF, APLS, TECX, ACI, NIO, LEVI, RIVN, HRMY, XPEV, DYN, DM, LCID, AFRM, SOUN, PROK, AHR, ZK, CA, AZIBy: Clark Schultz, SA News Editor aluxum Welcome to Seeking Alpha’s Catalyst Watch – a breakdown of some of next week’s actionable events that stand…
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 invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…
BofA recommends selling short gold against silver at a ratio of 83.50, with a target of 78.50/75.00 and a stop at 87.50.Key Points:Gold: The 2024 price targets of 2368, 2538, and 2643 have already been achieved, with the next target at approximately 2733. However, BofA advises against chasing gold at this time due to record-stretched positioning and momentum levels.Silver: Silver prices are approaching eleven-year highs, indicating potential for further upward movement. In contrast to gold, there is more room for oscillators and positioning to stretch, with possible upside targets of $36.02 to $40.The gold-to-silver ratio has formed a double top,…
WASHINGTON (Reuters) – Former U.S. President Donald Trump, who is the Republican presidential candidate, said on Friday he will seek the prosecution of Google (NASDAQ:) if he wins the Nov. 5 election, claiming that the company only displays “bad stories” about him. Trump, in his post on Truth Social, gave no evidence for his assertion about Google. Source link
GBP/USD Price Forecast: Drops from yearly peak amid soft US Dollar The Pound Sterling registered minuscule losses against the Greenback, yet it remains close to two-year peak levels on Friday. The US Bureau of Economic Analysis revealed that inflation is about to hit the Fed’s 2% target. At the time of writing, the GBP/USD trades at 1.3403, down 0.08%. Read More… Pound Sterling reclaims 1.3400 on soft US PCE inflation The Pound Sterling (GBP) recovers sharply above the round-level resistance of 1.3400 against the US Dollar (USD) in Friday’s North American session. The GBP/USD pair gains strength after the release of the United States (US) Personal Consumption Expenditure Price…