Author: FX
The major European stock indices are ending the day with mixed results:German DAX +0.19%France’s CAC -0.2%UK’s FTSE 100 +0.05%Spain’s Ibex -0.04%Italy’s FTSE MIB +0.29%German Dax corrected up to its 100H MA on Thursday. Stalled.Looking at the changes for the week:German DAX, +0.34%France’s CAC, +0.81%UK’s FTSE 100, +1.92%Spain’s Ibex, +1.93%Italy’s FTSE MIBIn the European debt market, the benchmark 10 year yields are closing the day mixed:European tenure yields are mixedADVERTISEMENT – CONTINUE READING BELOW Source link
EURUSD chops around near the middle of the range.The EURUSD is doing it’s pre-holiday thing…That is chopping around. Looking at the hourly chart, hopes were dashed yesterday fairly quickly when the price moved above the swing highs from Monday and Tuesday, but only by a few pips. Hopes were then dashed again when the price fell below the lows from Monday and Tuesday again by a few pips. Failure above. Failure below. The buyers and the sellers both had their shots….They missed. In trading today, the price has moved back toward the middle of the up and down range this…
April-Oct deficit C$174 million vs C$72.25 billion a year agoCanada has essentially run a balanced budget from April to October, though that’s not expected to last. Oil and gas revenues are a big part of the rebound in the fiscal situation but with rates rising, financing costs will start to bite. Overall though, Canada’s fiscal situation is better than almost anywhere and is one of the few AAA-rated countries in the world.ADVERTISEMENT – CONTINUE READING BELOW Source link
On Thursday, the Central Bank of the Republic of Turkey kept its key interest rate unchanged at 9.00% as expected. Analysts from TD Securities continue to believe that dramatic rate hikes will be needed in 2023. Key Quotes: “The CBRT left the benchmark one-week repo rate on hold at 9.00%, one month after calling the end of the easing cycle. This is in line with our expectations and the consensus. The basic structure of the CBRT statement has remained unchanged compared to the November one.” “The comment that “the comprehensive review of the policy framework continues with the aim of…
The USDJPY moved up to a new high. Stocks have rebounded from earlier declines. The Dow Industrial Average is up 0.34%. The S&P index is up 0.44% and the NASDAQ index is up 0.25% Yields are higher as well. The 2 year is up 4.8 basis points while the 10 year is up 5.4 basis pointsUSDJPY moves higher but short of the 38.2% retracementLooking at the hourly chart, the pair moved sharply lower on the back of the surprise BOJ shift early on Tuesday. The price tumble took the pair to a low of 130.556, but has been stepping higher…
Data released on Friday, showed the Canadian economy expanded 0.1% in October. Analysts at CIBC point out the upward revision to September and the modest growth in October/November leaves Q4 GDP tracking between 1% and 1.5%, which is above the Bank of Canada’s October Monetary Policy Report forecast of 0.5%. Key Quotes: “Statistics Canada provided a small dose of Christmas cheer, with news that the Canadian economy continued to grow (albeit only modestly) at the start of the fourth quarter. Combined with a slight upward revision to September, today’s data leave Q4 as a whole tracking around 1.3%. That’s above…
WisdomTree Dynamic Currency Hedged International Equity Fund declares quarterly distribution of $0.1710 Source link
According to analysts from Rabobank, the Brazilian Real is suffering from fiscal developments after the presidential elections. They still think the USD/BRL will be traded at 5.30 by end-2022 and by end-2023. Key Quotes: “We still see the USDBRL at 5.30 by end-2022 and by end-2023. We still see the USDBRL at 5.30 by end-2022 and by end-2023.” “The US dollar has recently seen huge swings in tandem with the Fed’s views on the US economy, dragging commodity currencies like the BRL along with it, while other advanced economies’ central banks struggle to keep up with the Fed’s hiking cycle.…
Japanese Yen is among the worst performers weakened by higher US yields. Dollar posts mixed results after US data. USD/JPY up on Friday, and down for the week. The USD/JPY broke above 132.80 and climbed to 133.15, reaching the highest level since Tuesday. US Treasury yields rose following several economic reports from the US and weighed on the Japanese Yen. US data: more positives than negatives The key report from the US was the Core Personal Consumption Expenditure Price Index which rose 0.2% in November, in line with expectations, and 4.7% from a year ago, a decline from the 5%…
Russia announced it might cut oil output early in January. US markets are due to close earlier on Friday amid the Christmas holidays. WTI retreated modestly after reaching a fresh monthly high. Crude oil prices are up on Friday, with the West Texas Intermediate (WTI) barrel nearing $80.00. Oil surges despite the soft tone of equities and US Dollar strength, helped by news coming from Russia, as Deputy PM Alexander Novak said that, due to the price cap, gas flows might be diverted from the EU to Asia. Additionally, he noted that Russia may cut oil output by 5%-7% in…