Author: FX
The USD/JPY stages a recovery on Friday with buyers claiming 153.00, an indication that the uptrend might resume in the short term. The 100-pip or 0.68% Thursday’s loss was offset by traders buying the US Dollar due to its close correlation with the US 10-year Treasury note yield, which was steady during the trading day.USD/JPY Price Forecast: Technical outlookThe USD/JPY technical picture shows that buyers regained momentum at around 153.00 with the next support level seen at the 20-day SMA at 152.52. Although buyers kept the exchange rate from falling to 152.80, a breach of the latter opens the door…
EUR/USD trimmed some of its previous losses and rises 0.16% on Friday’s late in the North American session, amid a scarce economic docket in both sides of the Atlantic. The US government shutdown extension to its 38th day and the light docket in Europe, keeps the pair trading within familiar levels around 1.1560.Euro gains modestly as traders shun the Dollar amid US government shutdownThat lack of data in the US increased uncertainty in the financial markets, as seen by Wall Street indices, plunging due to different reasons. Alongside the government shutdown, investors seem anxious about AI related companies being overvalued,…
Next week, the data will be highlighted by UK (Tuesday at 2 PM ET) and Australian jobs reports (Wednesday at 7:30 PM ET/Thursday in Australia. UK GDP will be released on Thursday (at 2 AM ET).If it were a normal week, US CPI would’ve been released along with, retail sales, unemployment claims and PPI data. However the US government is still on shutdown, and even if it were to reopen, there would likely be a delay in the data dump.What time 1 could we expect if there is resolution to the shutdown? The different government data sources including the Bureau…
US stock markets were in flux on Friday as the NASDAQ Composite (IXIC) saw its third greater than 1% drop this week. With 90 minutes to go before the session closes, the S&P 500 (SPX) has declined 2.6% this week so far, while the IXIC fell a heavier 4.2%.Much of the weakness has been felt in tech stocks, which are losing their luster after a swift six-month rally. Noted short-seller Michael Burry’s 13F filing early in the week showed that he seemed to be betting the majority of his family office’s money on shorting 1 million shares of Nvidia (NVDA)…
Gold price (XAU/USD) advances during the North American session on Friday, up 0.64% as the US government shutdown extends, while risk aversion keeps US equity markets poised for weekly losses. At the time of writing, Bullion trades at $4,002 after bouncing off daily lows of $3,974.Bullion gains 0.64% amid risk aversion and growing bets for a December Fed rate cutUncertainty continues to surround the US economy, as shown by the University of Michigan preliminary Consumer Sentiment for November. The index reached its lowest level since June 2022 amid the COVID emergency, showing that households are expressing worries “about potential negative…
Federal Reserve Governor Stephen Miran spoke about stablecoins and monetary policy at the Blockchain & Venture Capital Summit in New York on Friday. He said that a lot of stablecoin usage would likely lower the neutral rate, and that Widespread stablecoin usage could push up the dollar’s value.Key TakeawaysWidespread stablecoin usage could increase risk of hitting zero lower bound. Lots of stablecoin usage would likely lower the neutral rate. I am encouraged by stablecoin integration into the financial system.Wide stablecoin usage could push up the dollar’s value.The rise of stablecoins could drive even wider use of the dollar.Widespread use of…
Crude oil futures are settling at $59.75 up $0.32 on the day. For the trading week, the price is down $-1.06 or -1.74%.Technically, the price high on Monday extended above the falling 200 bar moving average on the 4-hour chart but found willing sellers against the low of the swing area at $61.45. The upper swing area codes between $61.45 and $61.94. On the lower end this week, the price did fall below the 100 bar moving average after holding support against that moving average last week. The price also fell below the lower swing area between $59.64 and $60.17.…
If I had to try to pin down a catalyst for the comeback it would be the news on a few fronts:More dovish UMich surveyLower 1-year inflation expectations in the NY Fed surveySigns of a deal on a US government shutdownThe thing is, that all hit around 10 am ET and the market didn’t bottom until two hours later. What I would highlight is that the bottom came almost right at noon ET, which is also when Europe closed. On the shutdown point, Democratic Senate leader Schumer is saying they’re looking for a one-year extension on healthcare subsidies. That has…
Spectral Medical GAAP EPS of -$0.11, revenue of $0.6M Source link
The Dow Jones Industrial Average (DJIA) took another leg lower on Friday, testing below the 46,800 level for the first time in almost three weeks as an AI stock pullback and withering consumer survey results drag down both sides of the investment-consumption equation. Friday would have seen the release of the latest US Nonfarm Payrolls (NFP) jobs report, but the ongoing US government shutdown, which is officially the longest shutdown in US history, is crimping the flow of official data, leaving investors to grapple with volatile private data, and putting deep question marks where key inflation and employment numbers should…