Author: FX

WTI extends losing streak for the third day, set to close the week in negative territory.A firmer US Dollar and weak US fuel demand weigh on prices despite the Fed rate cut.WTI trades in a tight range between $64.30 resistance and $61.50 support, with RSI near 45 signaling weak momentum.West Texas Intermediate (WTI) Crude Oil remains under pressure on Friday, extending its losing streak for the third straight day. The US benchmark has surrendered all the gains it notched earlier in the week and is now poised to end the week in negative territory.At the time of writing, WTI is…

Gold is at the highs of the day, up $38 to $3681 which nearly brings it back to where it was trading minutes before the FOMC decision. It’s also just $20 from the all-time high.This week was a test for gold as it was hit by a somewhat hawkish Fed and higher Treasury yields. Despite that, the bulls pounded on some modest weakness and have aggressively bought today.Ultimately, I don’t think the gold bull case is about medium term Fed policy or inflation but about a breakdown in the decades-long order in trade and geopolitics.gold 10 minute chart Source link

Adding a $100,000 fee for H-1B visas would have big consequences across immigration, labor markets, and business strategy. Smaller employers would almost entirely stop filing along with outsourcing firms. Even large tech companies could sharply reduce numbers, using visas only for extremely scarce roles.This type of visa is a work permit that allows employers to hire foreign professionals in specialty occupations — think tech, engineering, or medicine — that require specialized knowledge and at least a bachelor’s degree.The US issues about 85,000 new H-1B visas per year so at most this would raise $8.5 billion but would deprive tech companies…

The latest survey from the American Association of Individual Investors is something of a red flag for equity markets. Sentiment in the survey jumped to jumped to 41.7% from 28.0%. That’s the biggest one-week surge since January and also the highest reading since the July 3rd peak at 45.0%, which was the high of the year. The number isn’t a raging sell signal but it’s above the long-term average of 37.5% for the first time in 7 weeks.Notably, there is a big divide in the market with bearish sentiment at 42.4% and still above the long-term 31.0% average.As for the…

Oil rigs up 2Natural gas rigs up 1I guess $62 oil isn’t enough to stop the drilling. Word is that Exxon is the only company really spending this year. This article was written by Adam Button at investinglive.com. Source link

GBP/USD sinks below 1.3500 as ‘King Dollar’ regains strength post-Fed The British Pound (GBP) is under heavy pressure from the ‘King Dollar’ on Friday, down 0.52% even though the docket in the US is absent, with just Federal Reserve (Fed) officials crossing the newswires. UK data, although positive, failed to underpin Sterling in Retail Sales. GBP/USD is trading at 1.3482. Market mood remains mixed amid a quad witching options expiring on Friday, which could trigger volatility in US equity markets. The US Dollar has recovered after falling to three-year lows in the aftermath of the Fed’s monetary policy decision on…

Newly minted Federal Reserve (Fed) Board of Governors member Stephen Miran, in a stiff departure from standard Fed rhetoric policy, revealed exactly where his opinion landed in the Federal Open Market Committee’s (FOMC) latest Summary of Economic Projections (SEP). Miran voted for effectively double the amount of basis-point interest rate reductions that the rest of the Fed policymakers negotiated at the latest rate call meeting, a bizarre way to effectively scrub his own vote from the weightings. Interest rates are set at the majority quarter-point level chosen by Fed voters from one meeting to the next, rather than a range…

Canada’s Trade Mininister Dominic LeBlanc said expects to go to Washington, DC for trade talks in the next two weeks.That comment helped to lift the Canadian dollar in today’s North American session. USD/CAD is down 23 pips to 1.3768 and that has the loonies as the top performing G10 currency today.In the past week, Canada has dropped some tariffs and trade actions in what could be a sign that officials think a deal is possible. Retaliatory tariffs were dropped last month and a court fight over lumber tariffs was also shelved. Canadian steel and aluminum producers are suffering at the…

The The New York Fed Staff Nowcast for 2025:Q3 is now 2.10%, which is fractionally higher than 2.08% last week. The Philly and Empire Fed surveys essentially cancelled each other out while the retail sales numbers added a slight lift.The advance reading on Q3 isn’t due until Oct 30 so there is much data to come before we get anything close to a real consensus. This article was written by Adam Button at investinglive.com. Source link

The Canadian Dollar strengthens despite weaker July Retail Sales, with USD/CAD easing after failing to hold above the 1.3800 mark.Canadian household spending weakened in July as Retail Sales slipped 0.8%, while ex-autos sales dropped 1.2%.The US Dollar Index holds near six-day highs underpinned by resilient demand following the Fed’s cautious guidance.The Canadian Dollar (CAD) strengthens against the US Dollar (USD) on Friday, with USD/CAD snapping a two-day winning streak and trimming earlier intraday losses despite a firmer Greenback and softer Retail Sales data.At the time of writing, the pair is trading around 1.3778, easing from the day’s high of 1.3825,…