Author: FX
EUR/USD retraces its recent gains registered in the previous session, trading around 1.1720 during the Asian hours on Monday. The downside of the pair could be limited as the US Dollar (USD) may struggle amid the rising likelihood of the US Federal Reserve (Fed) rate cuts in the upcoming meetings. The CME FedWatch Tool suggests that markets are now pricing in a 95% chance of a Fed rate cut in October and an 84% possibility of another reduction in December.The upside of the Greenback could also be restrained as concerns rise after United States (US) Senators failed to pass spending…
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Oil prices open up around 1% after modest OPEC+ output hike Source link
On Friday morning in Asia, Thursday US time I posted on Trump’s stimmy thoughts:“We also might make a distribution to the people…We’re thinking maybe $1,000 to $2,000, it’d be great.”Its not unusual for politicians toe hand out free money stimulus checks when the economy is struggling. I’m not too sure the econopmy in the US is struggling, but Trump apparently seems to think so. Crypto has seen inflows, Bitcoin is above USD125K. I’ve seen renewed forecasts for a year end target of YS$200K I’ll have more to come on this separately. Trump’s admin proclaims itself crypto friendly, and indeed Trump’s…
Four things for stock bulls to worry about other than the shutdown Source link
Hundreds of trekkers escape from blizzard-struck Everest in Tibet Source link
OPEC+ opts for modest oil output hike as glut fears mount Source link
The oil market is likely get some relief from the OPEC+ decision to raise output by only 137K barrels per day.There were persistent reports and rumors last week that OPEC was considering raising 400-500k bpd to accelerate the wind down of the ‘voluntary’ phase of cuts. Instead, this pace stretches the return of barrels over the course of a year. The latest reports said Russia was pushing for a slower return of barrels while Saudi Arabia wanted to fight for market share.Naturally, fewer barrels than expected is bullish for oil but the risk is that the market sees this move…
Sat: Japanese LDP Leadership ElectionSun: OPEC+ MeetingMon: EZ Construction PMI (Sep), Sentix (Oct), US Employment Trends (Sep), New Zealand NZIER (Q3)Tue: EIA STEO; German Industrial Orders (Aug), US International Trade (Aug), Canadian Trade Balance (Aug), Ivey PMI (Sep), Chinese FX Reserves (Sep)Wed: RBNZ & NBP Policy Announcements, FOMC Minutes (Sep), BoJ’s Ueda; Japanese Overtime Pay (Aug), Swedish CPIF Flash (Sep)Thu: ECB Minutes (Sep), Eurogroup Meeting; German Trade Balance (Aug), US Weekly Claims (TBC)Fri: Norwegian CPI (Aug), Canadian Employment Report (Sep), US Uni. of Michigan Prelim. (Oct),Chinese M2/New Yuan Loans (Sep)Japan LDP Leadership Election (Sat):The Liberal Democratic Party (LDP) will elect…
Israel strikes Gaza as Palestinians pin hopes on Trump Gaza plan Source link