Author: FX
Share: The Swiss Franc weakens after Q3 GDP data comes out mixed – YoY missing estimates; QoQ beating. CHF finds a floor against US Dollar as sentiment improves for the Greenback. EUR and GBP stabilize against Swiss Franc after a steep sell-off. The Swiss Franc (CHF) weakened on Friday after the publication of mixed GDP data for the third quarter. On a YoY basis, the Swiss economy grew by 0.3% in Q3 versus the 0.5% expected, according to the State Secretariat of Economic Affairs. Quarter-on-quarter, however, GDP gained more than expected, helping to balance out the poor YoY result. …
Share: EUR/JPY records significant weekly losses, closing down by more than 2.20%. A key focus for traders is the Ichimoku Cloud support around the 158.00 level, which could accelerate the downtrend toward 154.00. For a shift back to bullish resumption, EUR/JPY must reclaim the Kijun-Sen at 161.00 and surpass the recent cycle low at 161.24, with the Tenkan-Sen at 161.68 up next. The EUR/JPY closed the week with a negative tone, down by 1% on Friday, for a total of more than 2.20% weekly losses, and shifts bearish after breaking key support levels on Friday. At the time…
Share: Most recent article: Canadian Dollar gains across the board on Thursday despite mixed Canadian GDP growth Canadian Dollar sees further gains heading into the end of the trading week. Canada’s new job hiring outpaced market expectations, but the unemployment rate ticked slightly higher. Canadian wage growth holds steady at 5%. The Canadian Dollar (CAD) is testing higher ground in Friday trading, climbing once more against its largest peer, the US Dollar (USD), after Canadian employment figures handily trounced market expectations. The Canadian Dollar is one of the top-performing currencies for the week, having gained a full percent against…
IOT, MINM, and RTC are among tech movers Source link
It’s a buy-everything market today, with one big exception.Oil fell sharply today in the past two hours. The catalyst: US oil drilling rigs rose by 5 in the latest Baker Hughes weekly count. OPEC+ now has around 5 million barrels per day of spare capacity and there’s no sign yet of US production growth falling (let alone declining). There had been hopes that demand growth next year would absorb OPEC spare capacity but even OPEC is only forecasting 2.5 million barrels per day in demand growth; so it would take another year like that to tighten the market.In the meantime…
This has gotten out of hand — The rate cut pricing just won’t stop.US 2s are down 15.6 bps to 4.55% and Fed funds futures are pricing in 132 bps of cuts next year. Pricing for the first cut on March 20 is now at 73%.It’s tough to square this with a series of Fed officials saying they’re still more likely to hike rates and that it’s too early to abandon the hawkish bias. If you are to take them at their word, we shouldn’t even be talking about cuts until H2.And that’s how markets used to work but it’s…
Share: The NZD/USD gains three-quarters of a percent on Friday to etch in a seventh straight gain. The Kiwi is up 2% against the US Dollar heading into the tail end of Friday’s trading session. Thin Kiwi data next week gives way to another bout of US NFP data next Friday. The NZD/USD is continuing its climb as the Kiwi (NZD) stands out as the single best-performing currency of the major currencies bloc, up 2% against the US Dollar (USD) for the trading week. An improving economic outlook coupled with a hawkish Reserve Bank of New Zealand (RBNZ)…
© Reuters. FILE PHOTO: A Walmart store is seen in Encinitas, California April 13, 2016. REUTERS/Mike Blake/File Photo//File Photo By Siddharth Cavale and Sheila Dang (Reuters) -Walmart said on Friday it is not advertising on social media platform X, one of the latest brands to say it has dropped the Elon Musk-owned site. “We aren’t advertising on X as we’ve found other platforms to better reach our customers,” a Walmart (NYSE:) spokesperson said. X, formerly known as Twitter, did not immediately respond to a request for comment. The platform has struggled to retain advertisers since Musk acquired the company in…
Gold dailyThis is the moment of truth for gold. I like the setup here, as I always do on December seasonals. In addition, the Fed is going to pivot dovishly and the dollar looks out-of-gas.Gold is now up $35 on the day at $2071. I don’t get the sense that gold is crowded even as it threatens all time highs, there could be some FOMO on a breakout.I would expect some short-term profit taking here as a big level was touched but if it can hold $2050, then I think it won’t be long before the bulls go for a…
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