Author: FX
Will leave interest rate decision to WarshWould like to see lower interest ratesSays the country is doing well, market should go upHe would not mind if Warsh were to cut interest rates. Will leave rate cut to Warsh during October meeting. What is curious is his response that will leave rate cut to Warsh but cites the October meeting. He seems to be giving in for the June, July, September meetings.On Iran and oil prices says:Having great success with Iran, and Iran is in no position to have a nuclear weapon.Has about energy prices, says that they have many optionsMore:Meeting…
The Baker Hughes rig count for the current week shows oil im inventories up 2 to 431 . Natural Gas inventories are down -1 to 124 and Total rigs are up 1 to 563.The decline in rigs has been hard since the peak above 1000 rigs back in early 2019. What is the stories behind the declines?2018 boom: The rig count averaged over 1,400 historically, but the modern shale era has been far more efficient. The period started strong with rigs climbing to a cycle peak of 1,083 in November 2018 as oil prices were high and shale was in…
Gold is under heavy selling pressure, falling $143, or 3.2%, to $4,333. The sharp decline has pushed the price below its 200-hour moving average for the first time since October 2023, a development that shifts the near-term technical bias more firmly in favor of the sellers.The move lower also broke below the 50% retracement of the rally from the May 15 consolidation low at $4,359.86. While it is important to note that the 200-hour moving average has steadily risen along with gold’s longer-term uptrend—sitting near $1,900 back in October 2023—the significance lies in the fact that the level had consistently…
The EURUSD continues to slide lower after breaking below a key support zone between 1.15768 and 1.15872. That floor had held firm since May 20, with the pair finding support within the area on four separate trading days between May 20 and May 28. The decisive break below that zone shifted the technical bias more firmly in favor of the sellers.The move lower began earlier today when the pair broke beneath several important technical levels in quick succession, including the 200-hour moving average at 1.1628, the 100-hour moving average at 1.1620, and an upward-sloping trendline near 1.1600. Those breaks opened…
Gold (XAU/USD) edges lower on Friday after the US Nonfarm Payrolls (NFP) report beat expectations, boosting the US Dollar (USD) and reinforcing expectations that the Federal Reserve (Fed) will keep interest rates higher for longer. At the time of writing, XAU/USD is trading around $4,370, its lowest since March.The US economy added 172K jobs in May, well above expectations of 85K. Meanwhile, April’s payroll figures were revised higher to 179K from 115K, while the Unemployment Rate held steady at 4.3%.Following the data, the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, climbs…
VV Shots Microsoft (MSFT) said on Friday that LinkedIn co-founder Reid Hoffman will leave the company’s board of directors and not stand for reelection at the company’s 2026 annual shareholder meeting. Hoffman has been a member as an independent director since 2017. His Source link
Analysis-Turkey targets more defence sales as West rearms, alliances shift Source link
A good trading run can mess with your head, especially when pressure, ego, and fear start hijacking your next move. Source link
The broader market mood is once again looking more mixed, in trying to digest US-Iran developments this week. But in the context of US equities, there is a different narrative running as we saw a sharp selloff in semiconductor stocks yesterday.Dip buyers managed to salvage things right before the close but there were still some steep losses for the likes of Broadcom (-12.6%) and Micron (-7.7%). And we’re seeing more of that once again today, with Nasdaq futures down 0.9% but Dow futures being up by 0.2% as the rotation into value sectors continue to play out.In pre-market trading, Broadcom…
S&P slams the hatchFor months, Wall Street had been treating SpaceX’s eventual S&P 500 inclusion as a foregone conclusion. The assumption was simple. Launch the largest IPO in history, wait six months, then stand back as an estimated $14 billion wave of passive money flooded into the stock.On Thursday, S&P Dow Jones quietly pulled the emergency brake.In a move that caught much of the market off guard, S&P rejected proposals that would have accelerated entry for mega-cap IPOs. The index keeper decided not to shorten the 12-month seasoning period, not to waive profitability requirements, and not to relax public float…