Author: FX

The San Francisco Fed President Mary Daly is expected to speak on FOXBusiness news at 1430 ET. Daly represents the first Fed member to speak post the FOMC rate decision on Wednesday. The Federal Reserve raise rates but 25 basis points as expected. She is also the first Fed member to speak after the much stronger than expected US jobs report today.Recall that before the blackout., Daly had a lengthy interview with the Wall Street Journal. During an interview she said that she expected economic growth in the labor market to continue to slow that she expected inflation to come…

The Baker Hughes rig count fell -12 to 759. That was the lowest total rig count since September 2022.Oil rigs fell -10 to 599. NatGas rigs fell -2 to 158. The total fall of -12 was the biggest fall for a week going back to June 2020.The price of crude oil is continuing the run to the downside. The price is down around $2.11 at $73.81 and trading at the lowest level since January 9. Source link

BlackRock MuniYield Quality Fund declares $0.047 dividend Source link

USD is up 1.85% vs NZD and up versus all major currenciesThe NZDUSD is one the weakest (and biggest movers) of the major currency pairs today (The USDJPY is the biggest mover with a move of 1.92%). The NZDUSD pair is currently down -1.85% on the day (higher USD). The run higher in US yields is the chief catalyst. It isn’t necessarily a stock play as the major indices are either higher, or marginally lower (S&P and Nasdaq are both down -0.11%). So there is no risk off flows pushing the NZD lower. ICommodities Commodities Commodities are assets that are…

© Reuters. FILE PHOTO: Southwest Air Lines ticket agents check-in passengers at Hartsfield-Jackson Atlanta International Airport after the Federal Aviation Administration (FAA) had ordered airlines to pause all domestic departures due to a system outage in Atlanta, By David Shepardson WASHINGTON (Reuters) -Southwest Airlines Chief Operating Officer Andrew Watterson will testify on Feb. 9 before the U.S. Senate Commerce Committee after a holiday meltdown forced the budget carrier to cancel thousands of flights. The hearing titled “Strengthening Airline Operations and Consumer Protections” will also include Southwest Airlines (NYSE:) Pilots Association President Captain Casey Murray, Sharon Pinkerton, a senior official with…

For the UK FTSE 100, the price moved above the old all-time high from 2018 at 7903.50. The intraday high price reached 7906.58 before rotating back to the downside in closing minutes, and just below that all-time intraday high. Nevertheless, the close at 7901.81 was above the previous all-time close at 7877.97.In the forex market, the USD is the strongest of the major currencies thanks to the stronger US data today. The NZD, AUD and JPY are the weakest. The USD is the strongest and the NZD is the weakest Source link

The major indices have now erased all the declines:S&P index is up 1.47 points or 0.04% at 4181.47NASDAQ index is up 27.41 points or 0.22% at 12228.57Dow Industrial Average is up 120 points or 0.35% at 34172.68The Russell 2000 of small-cap stocks is also positive by 2.85 points or 0.14% at 2004.13. Even Cathy Wood Ark Innovation ETF has has erased a -2.31 point decline and trades unchanged at $44.41. Source link

AUDUSD moves back to swing areaThe AUDUSD moved lower with the USD move up after the stronger than expected US jobs data and the stronger ISM data. The US jobs report took the price away from its 100 and 200 hour moving averages up at 0.7069 and 0.7081. In the Asian session, the price moved below that level – and stayed below it – until the jobs report was released. That surprise sent the pair sharply to the downside.The initial decline took the price back below the 38.2% retracement of the 2023 trading range where the price consolidated and paused…

The ISM Service PMI released on Friday showed the index rose back above 50, into expansion territory. Analysts at Wells Fargo, point out that after just a single month under 50, the services ISM shot back up into expansion. However, they warn the breadth of services expansion has still slowed. Key quotes: “The slowdown in services activity to end last year now looks more like a blip rather than the start of a lasting slowdown in the sector. That’s at least according to the latest ISM services release, which revealed the index advanced 6.0 points to 55.2 after a temporary…

Strategists at Rabobank point out that the change in the Bank of England’s language favours the doves, they see scope for further rate rises. They continue to expect poor United Kingdom fundamentals to be a drag on the British Pound.   Key quotes: “The USD has found further traction on the back of the January US jobs report. That said, the single currency has still managed to climb against the beleaguered GBP, with the latter undermined by the market’s interpretation that the BoE may be even closer to peak policy rates. EUR/GBP continues to edge towards our 0.90 target. We…