Author: FX
JPMorgan stock sails ahead on an impressive Q3 showing. GAAP EPS arrives 10% above Wall Street consensus. Revenue benefits from investment banking, wealth management fees. Traders focus on setting new all-time high. JPMorgan (JPM) stock surged over 5% on Friday after the nation’s largest bank released earnings that strongly beat consensus. The Producer Price Index (PPI) for September was released before the market open, and it was not the signal the market desired. The annual inflation figures for both headline and core PPI arrived above consensus. In the case of annual core PPI, inflation rose above the August figure, even…
Recent weeks have been punctuated by a number of positive developments for the U.S. Source link
Notwithstanding concerns surrounding a wider Middle East war, which could disrupt oil flows from the region, China stimulus disappointment and OPEC+ producer plans to bring barrels back in the coming months have put the crude oil market at risk of a sharp correction. The pending surplus in early-2025, stemming from lackluster global demand and robust supply growth, may well see crude oil price trade significantly below current levels in 2025, TDS’ Head of Commodity Strategy Bart Melek notes OPEC+ production cuts may become unnecessary “The extension of the current OPEC+ production suppression regime, which features significant member overproduction, does not…
For me, this is a more-important report than today’s jobs data.Business Outlook Survey indicator remains negative, signaling widespread softness” demand is weak, firms have excess capacity, and price growth continues to slow” but little deterioration since last quarterFirms reported weak past sales growth due to past inflation and interest rate increases continuing to weigh on the economy, particularly on consumers’ budgetsSales expectations remain softer than average but have improved slightly this quarter on rate cut hopes. Sales growth indicator to +13 from +1Labour shortages continue to ease, with few firms reporting challengesInvestment and hiring intentions remain weakInvestment spending +9 vs…
USD/CAD surrenders some of its intraday gains after the US and Canada data. The Canadian employment data showed that job demand remained robust and the jobless rate decelerated. The US headline PPI remained flat, while the core producer inflation grew expectedly by 0.2% in September. The USD/CAD pair gives up some of its intraday gains after posting a fresh two-month high to near 1.3780 in Friday’s New York session. The Loonie asset surrenders some gains after the release of the United States (US) Producer Price Index (PPI) and the Canadian Employment data for September. The initial reaction after the data…
Forex traders who want to be consistently profitable know the importance of tracking the rights and wrongs of the trades that they take. Unfortunately, the impact of the trades that they DON’T take is too often overlooked. Traders are no strangers to missing good trade opportunities. At one point or another we’ve encountered setups that we didn’t take even though they so clearly fit our biases and strategies. All too often, those missed trades also tend to be winners. There are plenty of reasons why we fail to catch good pips. Steve, for example, could have chosen to stay in…
Fundamental OverviewYesterday, the USD got a boost from a higher than expected US CPI report but gave back the gains pretty quickly. There are two reasons for such a reaction.The first is that at the same time of the US CPI release we got the US Jobless Claims figures which jumped to the top of their yearly ranges. The culprit was attributed mainly to Hurricane Helene and the strikes. The second reason is that the market was already positioned for a higher than expected reading as we’ve been seeing consistent upside in Treasury yields and the US Dollar in the…
Strategy: 3/12 Tunnel The 3/12 Tunnel is a trend-following strategy. This straightforward approach utilizes 3 moving averages has undergone extensive backtesting by our team, demonstrating a winning ratio between 70% and 80%. Recommended Timeframe This strategy is adaptable to various timeframes, including H1, H4, and Daily. Although it can be applied to timeframes lower than H1, optimal results are typically achieved within the H1, H4, and Daily timeframes. Trade Details Currently, the 3/12 Tunnel strategy has identified a trading opportunity on the USD/JPY pair within the H1 timeframe. I’ve shared a trade setup image for your…
Gold price gains positive traction for the second straight day amid bets for additional Fed rate cuts. A softer risk tone further benefits the safe-haven precious metal and contributes to the positive move. Fading hopes for a more aggressive easing by the Fed underpin the USD and cap the XAU/USD. Gold price (XAU/USD) retreats a bit from a three-day peak and trades around the $2,640 area during the early European session on Friday, still up over 0.40% for the day. A surge in the US weekly jobless claims pointed to signs of weakness in the labor market and should allow…
Tejon Ranch Company (NYSE:TRC) has announced a joint venture with Dedeaux Properties to develop a 510,500-square-foot industrial warehouse at the Tejon Ranch Commerce Center (OTCPK:TRCC). Located at the intersection of Interstate 5 and Highway 99, TRCC serves as an important logistics hub for California and Source link