Author: FX

There was a nearly 4 basis point tail on the 30-year sale. That’s certainly going to add to the term premium argument.It’s highly unusual for a bond auction to miss this badly and it argues for a return to the highs in yields.US 5 minsYesterday’s 10-year auction also tailed.I can’t stress enough how rare it is for a bond auction to tail this badly. It speaks to some kind of real change in underlying Treasury demand, or at least some hesitation that hasn’t been there in decades.In the past week, there’s been some cautious optimism that long-end rates were peaking…

GOLD PRICE OUTLOOKGold prices turn lower following hotter-than-expected U.S. CPI dataSticky inflationary pressures boost Treasury yields and the U.S. dollar, creating a challenging environment for precious metalsThis article looks at XAU/USD’s key technical levels worth keeping an eye on over the coming trading sessions Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Oil Price Forecast – Geopolitical Turmoil to Spur Bullish Energy Market SentimentGold prices (XAU/USD), which hit multi-month lows last week, embarked on a modest recovery in recent days. Earlier on Thursday, bullion…

AUD/USD sellers just broke the market to the downside, with big help from another sticky consumer inflation update from the U.S. Is this a fresh short opportunity or a long pullback in the works? AUD/USD: 1-Hour AUD/USD 1-Hour Chart by TradingView On the one hour chart above, we can see a steady grind higher in the pair (mainly off of USD weakness) through the month of October, but with big help from another sticky consumer inflation update from the U.S., sellers quickly took back control of the pair. The question for AUD/USD traders now is whether or not this is a…

Euro (EUR/USD, EUR/GBP) AnalysisMinutes Suggest the ECB is Content with Rates, Focused on the EconomyECB minutes revealed it was a close call to raise interest rates for the tenth and possibly last time, the last time the Governing Council met. The majority of officials anticipate that record high interest rates (4%) will play a huge role in forcing inflation back to the 2% target.Now the focus turns to the European economy which has had to endure the effects of elevated prices during a global growth slowdown that has heavily impacted its major trading partner, China. The German manufacturing sector has…

Share: NIO stock has stalled out near $9, right at the 21-day simple moving average. September US CPI report showed a slight pickup in headline inflation.  Nio stock is having difficulty recovering from a 17% plunge following its decision to raise $1.5 billion from convertible bonds. Equity futures including the NASDAQ 100 advanced 0.4% prior to the CPI release but lost half their gains after inflation arrived above consensus. US Treasury yields rose on the back of higher headline inflation, with the 2-year gaining more than 1%. Nio (NIO) stock trades 2.5% lower at the beginning of Thursday’s regular…

Yields and the USDIndex popped higher after the hotter than projected 0.4% rise in headline CPI. Still low initial jobless claims added to the moves. The front end of the Treasury curve is underperforming on the more hawkish implications for the FOMC. The report has fostered some profit taking on the recent Treasury rally. The USDIndex firmed to retest 106.099, but has slipped back to 105.930. Wall Street futures pared earlier gains though the major indexes are still fractionally in the green. In spite of the hotter headline CPI, we don’t believe the composition of…

Taoping contract revenue value jumps nearly 100% in first nine months of 2023 Source link

US CPI KEY POINTS:MOST READ: USD/CAD Looks Set to Arrest 4-Day Slump, Finding Support at the 20-Day MAElevate your trading skills and gain a competitive edge. Get your hands on the U.S. dollar Q4 outlook today for exclusive insights into key market catalysts that should be on every trader’s radar. Recommended by Zain Vawda Get Your Free USD Forecast US headline inflation YoY in September held steady at 3.7% in line with estimates while Core CPI YoY hit a 24-month low and dropped from the 4.3% print recorded last month. The Core inflation print is the lowest since September 2021.…

© Reuters. Cybercriminals are impersonating Labs, the company behind the cryptocurrency XRP, in an attempt to defraud its community members, according to a post on X Thursday. The fraudulent scheme involves sending malicious emails from an unrelated address, as unearthed by crypto investigator @_XRP_QUEEN. Recipients of these emails are falsely informed that Ripple has launched a 300M RippleNet Accelerator Program. They are then prompted to sign into a non-existent “XRP Toolkit account” and claim XRP via an embedded button in the email. This ploy could potentially allow attackers to gain control over the victims’ cryptocurrency wallets. It’s crucial to note…

Oil prices as well as gold benefited from a spike in risk aversion prompted by the escalating conflict in the Middle East. Gas prices also spiked as investors weigh the risk of widening geopolitical tensions. Oil prices have found a footing, after dropping more than 2% yesterday. Saudi Arabia and Russia showed they were working together to support the oil market, with officials from both countries appearing on Russian TV to say that they are committed to keeping markets stable by taking action in advance. Markets continue to keep an eye on developments in the Middle. USOIL had fallen nearly…