Author: FX

Economist Campbell Harvey wrote his PhD dissertation at the University of Chicago decades ago on the shape of the bond yield curve being linked to the path of US economic activity.i.e. That US recessions have been preceded by an inverted yield curvewhich is when short-term rates exceed those of longer term rates (this is the gist of it)This time though… “My yield-curve indicator has gone code red, and it’s 8 for 8 in forecasting recessions since 1968 — with no false alarms,”“I have reasons to believe, however, that it is flashing a false signal.”Harvey outlines his reasoning here at the…

Gold price struggling to find demand amid a pause in the US Dollar downside. Market mood turns cautious while US Treasury yields hover near weekly troughs. With the Fed Minutes out of the way, all eyes remain on US employment data. Gold price is looking to build on the previous rally above $1,850, as bulls gather pace for the next push higher. The bright metal is struggling to find fresh demand, as investors turn cautious and flock to safety in the US Dollar. Meanwhile, the US Treasury bond yields are holding near weekly lows, limiting any downside for Gold buyers.…

© Reuters. FILE PHOTO: Venezuelan opposition leader Juan Guaido speaks during an interview with Reuters, in Caracas, Venezuela, December 6, 2022. REUTERS/Gaby Oraa WASHINGTON (Reuters) -The United States still recognizes Venezuela’s 2015 National Assembly after a recent shakeup and will keep coordinating with its former leader Juan Guaido “and other like-minded individuals,” the White House said on Wednesday. Washington’s years-long recognition of Guaido as Venezuela’s legitimate interim president was called into question late last month when the country’s opposition National Assembly stripped him of the title and dissolved his government. In a press call, White House National Security Council spokesperson…

From the Society of Motor Manufacturers and Traders (SMMT) in the UK. said new car registrations fell 2% to 1.61 million units in 2022, new car sales lowest since 1992about 700,000 units below the pre-pandemic total hit in 2019for December alone though, +18%SMMT citing:shortages of parts over the last two years, in particular semiconductor chipsrising inflation and a cost-of-living crisisSMMT expect 2023 to be much better, projecting new car sales could grow 15% in 2023 as supply-chain issues ease:ADVERTISEMENT – CONTINUE READING BELOW Source link

HJBC Amazon (NASDAQ:AMZN) is reducing its headcount by more than 18K employees the company confirmed on Wednesday. Amazon CEO Andy Jassy confirmed plans to eliminate “just over 18K roles” between the reductions made in November and the latest round in a statement. The company was previously projected to cut about 10K roles, but has accelerated layoffs due to economic uncertainty. The bulk of roles due for elimination are concentrated in Amazon Stores and PXT organizations, per the statement. Jassy said that he was hoping to notify all impacted employees prior to his statement, but was forced to comment due to…

GBP/USD remains inside the woods around 1.2050 as investors US NFP The GBP/USD pair has continued its sideways performance around 1.2050 as investors are awaiting the release of the United States Employment data for fresh cues. The Cable asset displayed a wild gyration after the United States Institute of Supply Management (ISM) reported a shrink in the volume of manufacturing activities consecutively for the second time and then continued to auction sideways. Read More … GBP/USD Forecast: Pound Sterling faces strong resistance at 1.2100 Following Tuesday’s sharp decline, GBP/USD has regained its traction and climbed above 1.2050 early Wednesday, erasing…

Vera Therapeutics downgraded to neutral at Wedbush following atacicept data setback Source link

© Reuters. FILE PHOTO: A view shows Chao Xing tanker at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia August 12, 2022. REUTERS/Tatiana Meel By Laila Kearney NEW YORK (Reuters) -Oil fell by more than $4 a barrel on Wednesday, posting the steepest percentage loss in the first two trading days of any year for over 3 decades, as investors worried about fuel demand as the global economy slows and COVID-19 cases grow in China. futures settled at $77.84 a barrel, falling $4.26, or 5.2%. settled at $72.84 a barrel,…

None of the data releases today are likely to move FX rates too much upon release. A disappointing services PMI from China will likely be shrugged off, as the country reopens from COVID and cases surge there is a short-term economic cost (and health cost of course) but this will pass and data should improve in the months ahead. China is stimulating its economy. I posted the following yesterday ICYMI:1. policy support for the economy:2. A potential bounce out of COVID:3. Seasonal demand:4. More property market support (some sources are reporting this as “China is reportedly mulling measures to shore…

Indices Talking Points:The S&P 500 has built into a symmetrical triangle inside of the rectangle formation that held through the holidays.The Nasdaq ended the year with a key support test, but that level hasn’t yet come back into play in the New Year. The big question is whether NFP brings back the trends as heavy focus will be paid to the Friday release with the Fed keenly watching employment figures.The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section. Recommended by James Stanley…