Author: FX
US indices close mixed with Dow, S&P and Nasdaq lower, but Russell and Nasdaq 100 higher !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
Commerzbank says China’s August Services PMI rebound highlights some resilience in private-sector activity, but weak retail sales, soft inflation and higher unemployment still point to fragile domestic demand. The stronger PMI reduces the urgency for immediate PBoC easing, while leaving room for further support if growth weakens into year-end.Fragile demand keeps PBoC easing options open”China’s private services sector activity rebounded more strongly than expected in August, offering a bright spot in an otherwise subdued domestic demand picture. The RatingDog China Services PMI rose to 51.4 (Bloomberg consensus: 50.6) vs 50.4 in July.””The print marks a recovery from a near two-year…
The Pound Sterling (GBP) retreats some 0.09% against the US Dollar (USD) on Friday as the latest US inflation report reaffirmed Federal Reserve (Fed) Chair Kevin Warsh’s view that the labor market is “consistent with full employment.” GBP/USD trades near the open at 1.3512.GBP/USD slips as strong US jobs and Fed hawks support DollarThe US Nonfarm Payrolls in August exceeded the forecast of 56K, coming in at 162K and above July’s print of 21 K. The Unemployment Rate was unchanged at 4.1%. The data reassured Fed officials that if needed, they can raise rates without harming the labor market.Last week,…
The week in one sentence: Speculative positioning became more defensive in the week ending September 1. Yen short positioning recorded the largest deterioration, while Gold length also retreated. Oil buying returned alongside stronger prices, and Canadian Dollar and Euro positioning improved, although Euro flows diverged from weaker spot prices.CAD: Short coverings resumesCanadian Dollar (CAD) net shorts narrowed by around 13.4K contracts to 108.1K, the strongest weekly improvement since August 25. Gross long positions were broadly unchanged, while gross shorts fell by 13.4K. USD/CAD rose modestly, suggesting a modestly weaker CAD despite the positioning improvement. In addition, net positioning rose to…
DBS Group Research economist Chua Han Teng notes that Bank Negara Malaysia (BNM) held the Overnight Policy Rate at 2.75% while dropping language that the current level is appropriate. DBS expects rates to remain unchanged through 2026 but sees risks tilted towards a one-off policy normalisation.BNM holds but signals flexibility”Bank Negara Malaysia (BNM) maintained its Overnight Policy Rate (OPR) at 2.75% on September 3, extending its pause for a seventh consecutive decision.””We maintain our view for BNM to stay on hold for the remainder of 2026, given contained inflation amid a resilient economy, but see the balance of risk tilted…
Trump: Going to help cattle ranchers by allowing them to process their own beef. !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
Trump: Witkoff and Kushner will bring proposal to Putin to end the war !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link
A wave of explosions have been reported over Al-Azraq Air Base in Jordan, including from Ynet. This was likely Iranian missiles that were intercepted over the northern part of the country.Earlier, there were also repots of attacks on the Muwaffaq al Salti Air Base.There hasn’t been a response from the US side yet but that may be because markets are open. Iran is now launching pre-emptive attacks and the US will have three days of closed markets to respond should they choose.WTI was last down 32-cents to $91.01 wit ha range of $88.72 to $92.17 today in choppy trading. Zoom…
Ethereum (ETH) is correcting lower toward support at $2,400 on Friday as volatility rises in the broader cryptocurrency market. The largest smart contract token faced rejection after rising to $2,546 earlier, hinting at profit-taking and investors adopting a cautious stance amid macroeconomic uncertainty.Still, Ethereum’s outlook remains grounded in risk-on sentiment, as reflected in the Fear & Greed Index, which sits at 74 in the Greed territory on Friday, up from 65 the previous day.Capital inflows returned on Thursday, with Ethereum spot Exchange-Traded Funds (ETFs) attracting $148 million in deposits, offsetting outflows recorded on the previous day. Meanwhile, cumulative inflows stand…
Cleveland Fed President Beth Hammack is sounding decidedly hawkish on monetary policy !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz !”#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz Source link