Author: FX
The Federal Reserve will announce or interest rate decision on Wednesday at 2 PM ET. Fed chair Powell will speak at 2:30 PM ET.The Fed decision is 1 of 4 central bank decisions next week. The reserve Bank of Australia will announce their rate decision on Monday night in the US (10:30 PM ET) The expectations are for no change at 3.60%. The Bank of Canada – coming off a 2nd consecutive strong employment report – is also expected to keep rates unchanged will announce on Wednesday at 9:45 AM (rate is currently at 2.25%). Finally, the Swiss National Bank…
Adobe reports earnings next Wednesday, with expectations calling for EPS of $5.39 on $6.11 billion in revenue. That compares with $4.81 and $5.61 billion a year ago—an increase of 12% in EPS and 8.9% in revenue. Those are solid year-over-year gains, especially given the stock’s performance this year.Shares jumped 5.67% today (up $18.64 to $347.47), marking the largest one-day gain since April 8. Even with that surge, Adobe remains down -21.87% year-to-date. From the January 2024 high of $638.25, the stock fell more than 50% to a low of $311.58, a decline that has left many traders wondering whether the…
The Canadian Dollar (CAD) found room on the high side on Friday, climbing nearly 0.9% and locking in a second straight week of firm gains for the Loonie. The CAD has gained nearly 2.2% bottom-to-top against the US Dollar (USD) since hitting seven-month lows in early November.Canadian labor data came in broadly stronger than expected in November, with the Canadian economy adding far more jobs than expected. The Canadian Unemployment Rate tumbled to its lowest level since August 2024. US Personal Consumption Expenditures Price Index (PCE) inflation data from September also came in slightly better than expected, helping to keep broad-market…
The Dow Jones Industrial Average (DJIA) made slim gains on Friday, climbing another 150 points and ending a moderately bullish week near the 48,000 handle. US Personal Consumption Expenditures Price Index (PCE) data, despite being from September, helped bolster market confidence that the Federal Reserve (Fed) will be delivering a third straight interest rate cut on December 10.The Standard & Poor’s 500 (SP500) also climbed around 0.3% on Friday, putting the broad-market index on pace to challenge all-time highs.PCE inflation cools slightly, bolsters Fed rate cut hopesCore PCE inflation ticked down to 2.8% YoY in September, while the monthly figure…
We have been monitoring the SP500 (SPX) to reach approximately 7120 in an Elliott Wave (EW) Principle impulse (five-wave) move upward from the early April lows for a more significant top for many months. Within this uptrend, we have recently been tracking a minor 4th wave correction since early November, which we found to have ended late November:“…Therefore, November 12 was the Wave b of Wave 4, and last Friday ended the W-c of the (green) W-4 correction. Additionally, the correction this month best qualifies as a (double) zigzag, while the April 10-21 correction best qualifies as a flat, which…
Prior month $11.01 billion revised from $13.09 billionConsumer credit for the month of October $9.18 billion versus $10.50 billion expected This article was written by Greg Michalowski at investinglive.com. Source link
Gold (XAU/USD) advances during the North American session on Friday, poised to finish the week almost flat above the $4,200 figure as market participants brace for the Federal Reserve (Fed) monetary policy meeting next week. At the time of writing, XAU/USD trades at $4,216 after bouncing off daily highs of $4,259.XAU/USD trades flat; markets eye Federal Reserve’s expected rate cutThe week ends with the release of the Fed’s preferred inflation gauge, the Core Personal Consumption Expenditures (PCE) Price Index for September, which remained virtually unchanged, slightly closer to the 3% threshold than the Fed’s 2% goal. Although the print would…
The World Cup is in the USA, Canada and Mexico this year. The World Cup draw is underway now and the first three matchups drawn are:Mexico-KoreaCanada-SwitzerlandUSA-AustraliaThose are fairly good draws for the hosts in what’s sure to be a fun summer. But while countries compete on the football pitch, they also compete in the world economy. The best way to measure that is often in the foreign exchange market.So with that, here are the competing currencies.MXN/KRW 10-yearsCAD/CHF monthly, 10 yearsAUD/USD monthlyWe all know Canada will win the real World Cup trophy, but which is going to be the best-performing currency…
The Australian Dollar (AUD) extends its advance against the US Dollar (USD) on Friday, with AUD/USD climbing to its highest level since September 18 as traders are almost certain the Reserve Bank of Australia (RBA) will leave interest rates unchanged on December 9.At the time of writing, AUD/USD is trading around 0.6637, on track for a second straight weekly gain.The fundamental backdrop remains supportive for the Aussie, with markets also beginning to factor in the possibility that the RBA could revisit tightening next year if domestic conditions stay firm.This stands in sharp contrast to the Federal Reserve’s (Fed) dovish outlook,…
Recall last week, Baker Hughes oil rig count fell -12. Today they rose by half of that with a gain of 6 to 413. The natural gas rates fell -1 to 129. The total rigs for the week rose 5 to 549. Crude oil is trading near highs for the day up $0.60 41% at $60.28. The low price reached $59.42. The high prices and $60.50. For the week, the price is up 3.11%. This article was written by Greg Michalowski at investinglive.com. Source link