Author: FX
US government shutdown sent the dollar tumbling while the yen surged to weekly dominance. Shocking employment data, central bank signals, and geopolitical tensions created volatile trading conditions across major currency pairs. Source link
EUR/USD consolidates on Friday amid a quiet trading session due to the lack of a fresh catalyst, sponsored by a US government shutdown that seems poised to extend beyond the current week. The pair trades at 1.1738, up 0.28%, at the time of writing.Shared currency consolidates with light data and split Fed rhetoric keeping traders cautiousThe US economic docket has been light, featuring speeches by Federal Reserve (Fed) officials, as the Nonfarm Payrolls report for September had been delayed. Vice-Chairman Philip Jefferson said that although it is not ideal not to get job data, they have enough information to do…
Day 3 of the government shutdown with no agreement in sight. Senators left for the weekend and will not return until Monday.The US dollar was mostly lower. Versus the major currencies, the US dollar:EUR, -0.21%JPY +0.16%GBP -0.32%CHF -0.26%CAD -0.04%AUD -0.05%NZD -0.24%Today was the scheduled day for US employment data. That was postponed until next Friday at the earliest. S&P nonmanufacturing PMI data and ISM nonmanufacturing data was released as they are privately calculated.The final reading for U.S. September S&P global services PMI came in at 54.2, up from the preliminary 53.9 and slightly below August’s 54.5. While activity in services…
UK police accidentally shot victim who died in synagogue attack Source link
Both the Dow industrial average and the S&P closed at record levels today. The S&P just barely reached that record with a gain of 0.44 points or 0.01%. The NASDAQ index did move lower after closing at a record level yesterday. For the trading week, the major indices were higher:a summary of the day shows:Dow industrial average rose 238.56 points or 0.51% at 46758.28S&P index rose 0.44 points or 0.01% at 6715.79.NASDAQ index fell – 63.54.4 -0.28% at 22780.51. Russell 2000 rose 17.69 points or 0.72% at 2476.17.For the trading weekDow industrial average rose 1.10%S&P index rose 1.09%NASDAQ index rose…
The Dow Jones Industrial Average (DJIA) caught a firm bid on Friday, rising 482 points, or 1.04%, bottom-to-top. The Dow briefly pierced the 47,000 major price handle for the first time ever, before easing back to a more sedate +250 points (0.55%) on the day. Broad-market index gains were trimmed by a late-session pullback in familiar tech names such as Palantir (PLTR), Tesla (TSLA), and Nvidia (NVDA). Equities climb despite key data going darkThe Dow has chalked up another bullish week, closing flat or in the green for a fourth consecutive trading week as bullish investor sentiment continues. Markets are shaking…
Federal Reserve (Fed) Board of Governors plant Stephen Miran doubled down on his belief that the Fed has a lot more room to cut its way to neutral interest rates. Miran also reiterated his opinion that Trump’s stark anti-immigration policies will entirely alleviate shelter price inflation, a policy approach that Miran has not backed up with any meaningful economic data thus far.Key highlightsI hope we’ll have the needed data by the October FOMC meeting.Policy has become much more restrictive this year.I believe my neutral rate view is consistent with others on the Fed.The economy is strong on policies boosting supply…
In our previous update about the NASDAQ 100 (NDX), when the index was trading around 24520, we found that, according to the Elliott Wave (EW) Principle, the index is in an impulse (five-wave) move up from the early April lows, targeting 24770-25570 for an interim top. Fast forward two weeks, and the index reached 24958 today. It is perfectly within the ideal target zone and reversed intra-day. Therefore, the odds are increasing that the intermediate (green) W-3 top has been hit. See Figure 1 below. Figure 1. Our preferred short-term Elliott Wave count for the NDX We can allow one…
Fed’s Miran is added to earlier comments: Hopes we’ll have the needed data by October FOMC meeting.Policy has become much more restrictive this yearBelieves is neutral rate view is consistent with others on Fed. Economy is strong on policies boosting supply-side economy.Fed has plenty of space to cut rates, 0 lower bound is a long ways off.So much has changed since last year and monetary policy should reflect that.There will always be relative price changes.Trump’s inflation goals are separate to Fed’s work.Expects housing costs to ease on immigration shifts.Larry Summers has been wrong about pretty much everything this year. This…
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