Author: FX
The old adage is that magazine covers are a jinx. That’s particularly true with The Economist but Barron’s has had some doozies, including making the case for Pfizer earlier this year (it’s down 40% since).The cover this week certainly raised alarm bells but it may prove to be one of the better-timed calls in the magazine’s history.US 10-year yields are down to 4.56% from a high of 5.02% on October 23 and 4.92% at the start of the week.There are a few reasons to think this top in yields (and bottom in bonds will last).1) The wave of buyingThe FOMO…
Share: The GBP/JPY is climbing on Friday, tipping into 2-month highs. The Pound Sterling is lurching higher as market risk appetite returns. GBP set for its best weekly performance in five months. The GBP/JPY has pierced the 185.00 handle as the market heads into the final hours of the trading week, pushing into an 8-week high as broad market risk appetite finds a firm recovery. The Japanese Yen (JPY) has been on the back foot after a dovish Bank of Japan (BoJ) recently ruined all of their own hard work in verbally defending the beleaguered JPY. The Pound Sterling…
There are reports of an earthquake being felt in New Delhi, with buildings shaking. A related report cites a 6.2 magnitude earthquake in the Nepal region, however the USGS classifies it at 5.6.It’s 11:45 pm local time in New Delhi so people would be indoors. The duration was a reported 40-50 seconds.New Delhi is in northern India, near Nepal and the fault lines that run near the border. Given the 33 million people that live in the city and the quality of infrastructure, even a small earthquake could be a major tragedy.Notable earthquakes have hit the area in history but…
iShares Agency Bond ETF declares monthly distribution of $0.3059 Source link
Share: NZD/USD rose by more than 1% to 0.5990, its highest since mid October. The US reported weak NFPs, which triggered a sharp decline in US yields and hawkish bets on the Fed. Eyes on inflation figures from the US from October. On Friday, the NZD/USD rallied, driven by the US Dollar facing notable selling pressure after the release of the soft labour market, which triggered a decline in US Treasury yields and hawkish bets on the Federal Reserve (Fed) for the December meeting. On the Kiwi’s side, no relevant data was released. The latest data from the US…
Share: USD/CHF drops sharply, signaling potential end to Fed’s rate hikes with investors favoring CHF. Pair’s fall below the 50 and 200-day moving averages at 0.9000 could lead to further declines. For recovery, USD/CHF needs to breach 0.9000, targeting the November 1 high at 0.9112. USD/CHF plummets in the mid-North American session on Friday after an employment report in the United States (US) could mark the end of the Federal Reserve (Fed) tightening cycle. Therefore, the US Dollar (USD) remains offered, as investors piled into the Swiss Franc (CHF), as shown by the pair trading at 0.8979, down…
2/2 © Reuters. Palestinians gather at the site of Israeli strikes on houses in Bureij in the central Gaza Strip,November 2, 2023. REUTERS/Mohammed Fayq Abu Mostafa 2/2 By Nidal al-Mughrabi, Simon Lewis and Maytaal Angel GAZA/JERUSALEM (Reuters) -The leader of Lebanon’s Iran-backed Hezbollah group warned the United States on Friday that if Israel did not stop its assault on Gaza then the conflict could widen into a regional war. Sayyed Hassan Nasrallah, in his first speech since the Israel-Hamas war erupted on Oct. 7, also threatened the U.S., Israel’s main ally, hinting his Iran-backed paramilitary group was ready to confront…
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Share: The 1.33-1.37 range economists at Rabobank have been highlighting for USD/CAD has broken to the upside. They do not expect much further upside for the pair. USD/CAD seen at 1.3620 by year-end We don’t expect much further upside for USD/CAD. Yet, a return to the 1.35 magnet we have been trading around is unlikely to materialize this year. That said, we would suggest the primary driver of USD strength has been the sharp bear steepening of the US Treasuries curve. We cannot rule out further upside for the 10-year yield – which up to this point we…
US NFP Data for OctoberNFP 150k vs 180k estimate, September’s 336k print revised lower to 297k. Unemployment rate 3.9% vs 3.8% expFed funds futures lower estimates of another Fed hike this yearImmediate market reaction: USD, yields drop while gold risesThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education libraryNFP Prints at 150k vs 180k and September’s Figure Revised Down to 297kCustomize and filter live economic data via our DailyFX economic calendar Recommended by Richard Snow Trading Forex News: The Strategy Non-farm payroll data for October disappointed…