Author: FX
Markets:Gold up $40 to $2083US 10-year yields down 6.8 bps to 4.18%WTI crude oil up $1.51 to $79.78S&P 500 up 0.8%, Nasdaq up 1.1%Bitcoin up 2.1% to $62,750AUD leads, JPY lagsHappy Friday. It certainly was for the market as a trio of soft second-tier US economic data releases combined to add a dose of dovishness to the market and send the Nasdaq above the 2021 high.Before the data, some worry was creeping into the market and the US dollar was bid. Comments from Barkin struck a hawkish note and with Waller on the schedule after him, there was some worry…
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It was a BUSY week as key data releases and additional speeches by monetary authorities inspired price adjustments for the major asset classes. Bitcoin (BTC/USD), on the other hand, didn’t need much catalyst since the OG crypto sustained an uptrend despite a lack of fresh catalysts. Missed out on the major market moves? Don’t worry, we gotchu! This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
Share: EUR/USD vaults back into 1.0840 following market pivot. Market risk sentiment sees a late-week recovery on Friday. US Manufacturing PMI unexpectedly declines, sparking rate cut hopes. EUR/USD caught a bounce from 1.0800 after markets pivoted into a risk-on stance following Friday’s US ISM Manufacturing Purchasing Managers Index (PMI) declined, flubbing forecasts and stepping deeper into contraction territory. Slipping economic figures are sparking renewed hopes of Federal Reserve (Fed) rate cuts. Meanwhile, the Fed’s latest Monetary Policy Report shows the central bank is firming up faith in inflation reaching the 2% target. The European Harmonized Index of Consumer…
Share: Wall Street’s main indexes close in the green to wrap up the week. Tech stocks rose, Utilities took a knee. Markets lean toward a Fed rate cut in June after inflation data. Following Friday’s risk appetite recovery, the S&P 500 (SPX) index rose 0.80% to close the session at 5,137.09. The Dow Jones (DJIA) climbed 0.23% to end at 39,087.38, while the Nasdaq (IXIC) gained 1.14% to finish at 16,274.94. Stock market news The Technology Sector climbed 1.78% on Friday, outperforming the rest of the market sectors, closely followed by the Energy Sector which gained 1.17%. The Utilities Sector…
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Share: Federal Reserve (Fed) Board of Governors member Adriana Kugler is cautiously optimistic that progress on disinflation will continue with the Fed avoiding any significant deterioration in the domestic labor market. The Fed’s Kugler delivered prepared remarks while speaking at the Stanford Institute for Economic Policy Research. Key highlights US economy appears to have dodged a wage price spiral. Fed actions have helped to bring down inflationary pressures, and helped to anchor inflation expectations. Fed’s Kugler remains cautiously optimistic inflation will fall without job market damage. Signs that firms are adjusting prices slower helps to bolster disinflation confidence.…
Share: USD/JPY bounces back to 150.12, recovering after BoJ Governor’s dovish comments trigger USD rally. Technical analysis suggests potential for further gains, with eyes on surpassing February highs. Key support and resistance levels outlined, with a close eye on 150.00 as a pivotal point for direction. The USD/JPY stages a recovery after diving to a two-week low of 149.21, climbing above the 150.00 figure on Friday amidst dovish comments by the Bank of Japan (BoJ) Governor Kazuo Ueda during the Asian session. That favored the Greenback, which paired Thursday’s losses, and currently stands at 150.12, up by a…
No hint at something more hawkish here:’Cautiously optimistic’ inflation will fall without job market damageFed policy actions have helped bring inflation pressures down, helped anchor inflation expectationseconomy appears to have dodged a wage-price spiralInflation pressures have cooled significantlyFed has faced less of a trade off between inflation and jobsWorkers and employers are better at finding each other nowGoods and labor shortages have declinedThere’s not a hawkish word here despite the higher inflation data in January. I was worried this morning after Barkin that we could see something of a coordinated push from Fed officials to warn that rates could stay…
Since October 27, the S&P 500 has rallied 24.7%.It’s an incredible achievement as the world’s largest stock market (by far) increases its value by one quarter. Nvidia alone was 33% of the gain, but that’s another story.What stands out about this rally for me is the steadiness of it. There’s hardly a down day and when there is, it’s modest and that’s despite the market pricing out around 80 bps in cuts for this year. It’s a truly astonishing rally and we’re only just stepping into a strong seasonal period. This article was written by Adam Button at www.forexlive.com. Source…