Author: FX
US construction spendingUS construction spending for July % versus 0.5% expectedtotal construction spending $1,972.6 billion versus $1,938.4 billion last monthConstruction spending year on year +5.5% vs +3.5% priorprivate construction +1.0% vs +0.5% priorresidential construction +1.4% vs +0.9% priorResidential construction is down 5.5% y/y but that should rebound in the year ahead. What makes it so hard to read these numbers is that billions of government and government-backed dollars are going into the IRA and CHIPS act spending. Source link
Share: US Dollar price action fairly contained in the aftermath of the US Jobs report. ISM Manufacturing up next to try and move the needle or paint a clearer picture. The US Dollar Index is off its weekly low, though any headwind could snap the summer rally in the Greenback. The US Dollar (USD) is trading pretty much sideways, not making any big moves, except for the Japanese Yen. The Greenback there loses nearly 0.70% after the US Jobs report print and is at a one-week low level around 144.90 USD/JPY. But overall the losses are fairly contained…
AUGUST LABOR MARKET REPORTAugust U.S. nonfarm payrolls increase by 187,000 versus 170,000 expectedThe unemployment rate rises to 3.8%, as the participation rate ticks up to 62.8% from 62.6%Average hourly earnings rise 0.2 % m-o-m and 4.3% y-o-y, one-tenth of a percent below estimates in both cases Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter Most Read: Indices on Track for Second Week of Gains – FTSE 100, Nasdaq 100, DAX 40U.S. employers added to their workforce vigorously last month despite the advanced stage of the business…
Imagine having a GOOD trade idea. You know the one. It may come from a mentor, a FinTwit whiz, or a premium signal group. It may even be the result of hours of analysis. The signs seem to line up, and you’re confident that you’ve got the discipline needed to pull off your trading plan. You take the trade and you execute it to the best of your abilities. You lose the trade. WHAT’S UP WITH THAT?! Check if you have forgotten any of these important trading habits: 1. Make pre-trade preparations Like in any high-performance endeavor, preparation is half…
S&P 500 AnalysisUS Equities Recover Lost Ground as Data Sends Real Yields LowerThe top 500 US stocks ranked by market capitalization have partially recovered one of the deepest pullback seen during the current bull market. Rising risk-free rates (US treasuries) at a time when inflation has declined, has resulted in higher US real yields (nominal treasury yields less inflation). Rising risk-free yields attract risk averse investors chasing higher risk-adjusted yields during enhanced uncertainty.Fed Chairman Jerome Powell downplayed a rate hike this month but left the door open to one before the end of the year, as the rate setting committee…
Pfizer, BioNTech granted EU nod for new Omicron-adapted COVID shot Source link
GBP/USD, DXY PRICE, CHARTS AND ANALYSIS:GBP/USD Looks to Recover Yesterdays Losses and Holds Above the 100-Day MA Ahead of US Data.Price Action Remains Choppy as Cable Eyes Clarity from US Data. Will September Provide More Clarity?IG Client Sentiment Shows Retail Traders are Net Long on Cable. As We Take a Contrarian View to Client Sentiment at DailyFX, Are We in for Further Downside?To Learn More About Price Action, Chart Patterns and Moving Averages, Check out the DailyFX Education Section.Read More: US Dollar Forecast: Will Fed Chair Powell Inject Further Momentum at Jackson Hole?GBPUSD has found support at the 100-day MA…
© Reuters. FILE PHOTO: A staff member introduces the new Huawei Mate 60 smartphone to customers at the Huawei flagship store in Shenzhen, Guangdong province, China August 30, 2023. REUTERS/David Kirton/File Photo SHENZHEN, China (Reuters) -The surprise launch of the latest high-end smartphone from Chinese tech giant Huawei Technologies has triggered an international guessing game over what is inside it. The company, which has been heavily targeted by U.S. government restrictions, began selling its latest Mate 60 Pro for 6,999 yuan ($964) online on Tuesday, raising eyebrows over its decision not to do any prior advertising and prompting widespread speculation…
Article by IG Senior Market Analyst Axel RudolphFTSE 100, DAX 40, Nasdaq 100 Analysis and ChartsFTSE 100 on track for second week of gainsThe FTSE 100, which slid back to its breached July-to-August downtrend line on Thursday, is bouncing off it ahead of US Non-Farm Payrolls on Friday. The UK blue chip index looks to be on track for a second week of gains as investors positively interpreted the weaker US growth and employment data out this week as dovish with regard to monetary policy. The 55-day simple moving average (SMA) at 7,482 is back in focus, as is this…
Bitcoin (BTC), Ethereum (ETH) Prices, Charts, and Analysis:A decision on spot Bitcoin ETFs is pushed back to mid-October by the SEC.Bitcoin gives back all of this week’s bullish run-up.Bitcoin gave back nearly all of Tuesday’s rally on Thursday after the Securities and Exchange Commission (SEC) delayed making any decision on a raft of Bitcoin ETF applications. The SEC has now pushed back the latest deadline until mid-October. While this outcome was expected, a degree of hope had been building in the cryptocurrency market that a spot Bitcoin ETF would soon be announced. On Tuesday, the US Court of Appeal said…