Author: FX
The shine of the election has run into uncertainty about tariffs and elevated P/Es. Pretty much all the gains after the open on post-election morning are now gone and the S&P 500 is now threatening the opening gap while the Nasdaq has already taken a decent bite.Trump’s cabinet picks are leaning heavily on “promises made, promises kept” and the market is wondering about the biggest promises: 60% tariffs on China, 10% across the board and mass deportations of 11m illegal immigrants.Nasdaq dailyClosing changes:S&P 500: -1.3%Nasdaq Comp: -2.2%DJIA: -0.7%Russell 2000: -1.5%Toronto TSX Comp: -0.7%On the week:S&P 500: -2.1%Nasdaq Comp: -3.1%Russell 2000:…
The Canadian Dollar continued its march lower on Friday. Canada remains inconsequential on the economic calendar. CAD traders to wait for next Tuesday’s Canadian CPI print. The Canadian Dollar (CAD) found fresh lows on Friday as broader markets continues to pivot into the safe haven Greenback. A slight miss in US Retail Sales was all it took to bolster the US Dollar and send USD/CAD into fresh multi-year highs. Canada continues to remain absent from the economic calendar this week. A week of strictly low-tier, low-impact data has left the Canadian Dollar on the ropes, but next week’s Canadian Consumer…
Bitcoin is closing out a great week on a positive note. It briefly fell below $88K in US trading but has been steadily bid since and particularly in the past hour. It’s now up 3.3% on the day to $91,200 and that’s coincided with a modest rebound in risk appetite more broadly. This article was written by Adam Button at www.forexlive.com. Source link
The US Dollar Index has pulled back from its yearly high, helping to limit the decline of the Aussie Dollar. Weak Australian labor data pushes the pair downwards on Friday. Hawkish bets on the RBA might also help the Aussie. The AUD/USD pair rose by 0.20% to 0.6460 in Friday’s session. The Australian Dollar staged a comeback as the US Dollar Index (DXY) pulled back from its yearly highs. However, the Aussie Dollar may face challenges due to recent weak domestic and Chinese economic data. On the bright side, Reserve Bank of Australia (RBA) Governor Bullock stated that current interest…
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US equities are making new lows but bonds have turned around.Ten-year Treasury yields touched the highest since May earlier today at 4.50% but have since turned around and are now down 1.6 bps on the day to 4.40%.US 10s, hourlyThat’s a solid rejection but the next hurdle is yesterday’s low. A drop below that would end a series of higher lows and if it comes with more equity selling it could be part of a broader flight to safety.USD/JPY will also key off of yields and could further retrace if this move continues.Interestingly, the big jump in yields started after…
Everything is always on the policy tableAsked about a Dec cut, said he doesn’t like to tie his hands before dataWe are going to be looking at rate cuts along the lines of the Sept Fed projectionsRecent inflation has been higher than target, if that’s extended then it’s too highNot a lot has changed in the past couple weeksHere are the Sept projections. The market is pricing in 3.80% for next December. This article was written by Adam Button at www.forexlive.com. Source link
The USD retreated on Friday after hitting yearly highs near 106.60. The market has responded to Fed Chair Powell’s comments with odds of a December cut falling to 60%. Retail Sales expanded by 0.4% in October vs. the previous month, surpassing expectations. The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, failed to secure a sixth consecutive day of gains in a volatile trading Friday. Federal Reserve (Fed) Chair Jerome Powell has instilled uncertainty in the markets by expressing reservations about a December interest rate cut, while markets assess fresh Retail…
Nov. 15, 2024 12:32 PM ETVanEck Uranium and Nuclear ETF (NLR), URAXLU, CCJ, LEU, UUUU, DNN, UEC, URG, LTBR, NXE, URNM, UROY, SMR, OKLO, NNEBy: Carl Surran, SA News Editor zhongguo/E+ via Getty Images Uranium prices rose Friday after Russia announced temporary restrictions on the export of enriched uranium to the U.S., although uranium-related shares trade mixed after moving higher on the initial news. Trading higher: Ur-Energy (URG) +3.6%, Denison Mines ( Source link
GBP/USD Price Forecast: Stumbles on soft UK data, bears target 1.2600 The Pound Sterling extends its agony and printing losses for the sixth straight day against the Greenback. Soft UK GDP coupled with robust US Retail Sales figures boosted the US Dollar and weighed on GBP/USD, which trades at 1.2636, down 0.22%. Read More… GBP/USD resumes downside bias after release of US Retail Sales GBP/USD edges lower on Friday, falling to the 1.2660s as markets digest the latest data release, US Retail Sales in October, and its positive implications for the US Dollar (USD). Read More… GBP/USD holds ground above 1.2650 following mixed UK data, US Retail sales eyed GBP/USD…