Author: FX
Share: The Swiss Franc is weakening in most of its pairs, but especially against the USD and GBP after the release of US Payrolls. Nonfarm Payrolls in November rose by 199K, higher than the 180K expected; Unemployment dropped to 3.7% and wages rose. The data supported the US Dollar and riskier currencies against the safe haven Franc. The Swiss Franc (CHF) sold off in most of its major pairs on Friday after the release of a better-than-expected US jobs report supported risk appetite, driving flows away from the safe-haven Franc. The Swiss Franc has lost 0.48% against the US Dollar,…
It was a battle between the slowing global growth outlook vs. potential rate cut narratives this week in the global markets, with the former weighing the heaviest and leading to a strong week for the U.S. dollar. Bitcoin and oil prices were the biggest movers, though, with the former seeing levels not seen since early 2022, and the latter making new lows on a weaking demand outlook for oil. 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…
Share: The Canadian Dollar follows a broad-market risk bid to higher ground on Friday. Economic data from Canada is thin on Friday, as well as all next week. Crude Oil takes a little off the top, paring back recent losses and helping to prop up the CAD. The Canadian Dollar (CAD) gained ground across the FX board on Friday, recovering from near-term declines. Still, gains are thin and the charts remain choppy as investors readjust their positions and expectations after the US Nonfarm Payrolls (NFP) for November surprised to the upside. The CAD finished Friday up a scant tenth of a…
Share: NZD/USD tumbles more than 0.70%, trading at 0.6124, erasing gains from Thursday’s session. US jobs data was better than expected, spurring a dip in the unemployment rate. University of Michigan Consumer Sentiment Index rises to 69.0, its highest level since August, with revised lower inflation expectations. NZD/USD is dropping and erased Thursday’s gains on Friday after US economic data sent traders scrambling to pare dovish bets on the US Federal Reserve as November’s Nonfarm Payrolls exceeded estimates. That shows the economy’s resilience; hence, the pair tumbles more than 0.70% and trades at 0.6124. NZD/USD finished the week…
weekly oil WTISentiment in oil might finally be so washed out that it’s safe to wade in.The US announced another 3 million barrels of purchases to refill the SPR today and that’s a modest positive catalyst as the White House is able to refill it at prices below what they paid. I’d argue that’s just more inventory down the line to keep oil below $100 but the oil bulls will take what they can get.In the latest rout in oil, I wonder how many pair trades were involved with oil and bonds. Crude makes a great inflation hedge and with…
The price of WTI crude oil futures are settling the week at $71.23. That’s up $1.89 or 2.73%. Monday, Tuesday and Wednesday saw the price tumble from Friday’s close of $74.07 to a low-price reached yesterday (before rebounding) at $68.80. The rebound today retraced some of the declines. However, for the week, the price is still down -2.58%.Although sharply lower, there is some hope for the buyers. Technically looking at the weekly chart above, the price fell below its 200-week moving average for the first time since early May at $70.31 during yesterday’s fall. Today the price has rebounded back…
© Reuters. NEW YORK – Shares of Paramount soared 12.4% today following speculation that Skydance Media and RedBird Capital are considering a takeover for controlling stakes in the media giant. The surge came after reports of acquisition interests that appear to be centered on Paramount’s studio assets, rather than its entire portfolio. Wells Fargo analysts have weighed in on the situation, pointing out the disproportionate voting rights held by National Amusements relative to their equity stake in Paramount. The financial institution’s ‘Mission Possible’ report issued an underweight rating with a $12 price target for Paramount’s shares. The analysis suggests that…
Share: Mullen said its new spoofing complaint will replace its short-selling litigation announced in August. Law firm says spoofing litigation could amounts to “billions” in compensation. MULN trades lower for fourth consecutive session on Friday. Traders wait for December 15 shareholder vote on reverse split. Mullen Automotive (MULN) stock lost ground for the fourth session in a row on Friday despite the broader market seeing gains across categories. MULN stock lost 5.13% on Friday, closing at $0.1480 . All three major indices – Dow Jones, S&P 500 and NASDAQ Composite – closed up near 0.4%. Nonfarm Payrolls for November were…
This is some tough price action to make sense of, let alone make money with.It’s been back-and-forth nonstop today since non-farm payrolls. The dollar rallied initially, which is what you would expect on falling unemployment. But it quickly gave it all back, then rallied again. Wash, rinse, repeat.Flows have been a big part of market dynamics and the market has been aggressive in pricing in Fed cuts without a lot of data to back that up. Layer on that is the blowup of the extremely-crowded yen trade.Now we’re getting some retracement in bonds but stocks are holding up and the…
Share: The US Dollar (Index) jumps over 0.50%, above 104 in the aftermath of NFP numbers and Michigan Sentiment print. Traders see Unemployment rate fall to 3.7%, below 3.9% estimate. The US Dollar Index pops back up towards 104. The US Dollar (USD) is brushing off the Japanese crisis it had on Thursday. At one given point the Japanese Yen was up 4% against the Greenback. The strong US Jobs Report print though, washes off that devaluation and puts the US Dollar back on the map with traders backtracking on earlier bets of quicker cuts from the US…