Author: FX

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…

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: investingLive is not an investment advisor, investingLive provides references and…

Earlier today Pres. Trump posted on Truth Social that Hamas had until Sunday at 6 PM to reach an agreement. He warned that if an agreement is not reached, “all HELL, like no one has ever seen before, will break out against Hamas”. Hamas is reported to have handed over its response to Trump’s Gaza plan to an the mediator. WIll it be enough? This article was written by Greg Michalowski at investinglive.com. Source link

Federal Reserve (Fed) Vice President and Board of Governors member Phillip Jefferson acknowledged that ongoing risks to both sides of the Fed’s policy mandates are seeing growing risks. The labor market is showing fresh weakness, and inflation pressures continue to mount in underlying datasets, leaving the Fed in a difficult spot on rate policy-setting.Key highlightsLess than ideal not to get jobs report, but look across array of data to assess the economy.Trends across several data series suggest job market softening, could experience stress if not supported.Decline in net immigration a major factor preventing more significant rise in unemployment.Both sides of…

Gold price advances during the North American session on Friday, up by 0.70% for the day as the US government shutdown extends to three days, poised to end the week positively for the seventh straight week. At the time of writing, XAU/USD trades at $3,882 after hitting a daily low of $3,838.XAU/USD extends weekly winning streak as lack of US data and Fed remarks keep traders leaning toward dovish betsThe US economic docket remains light, with the release of the Purchasing Managers Index (PMI) for September. Figures were mixed, as the Institute for Supply Management (ISM) revealed that the services…

Federal Reserve (Fed) Bank of Dallas President Lorie Logan struck a nervous tone on Friday, warning that despite a rapidly-weakening labor market, a lot of potential policy moves could accidentally spark another round of renewed inflationary pressures.Key highlightsTariffs have been contributing to inflation.I’m worried about non-housing services inflation that’s been elevated and stuck there.There are both upside and downside risks to my inflation outlook.If labor market were to slow more than anticipate, could see more disinflation than currently expect.The risks that tariff effects are more prolonged increase risk of rise in long-term inflation expectations.Stimulating demand when labor market is broadly…

Crude oil futures are settling up $0.40 or 0.66% and $60.88. The gains come in ahead of expectations OPEC will increase production.OPEC+ is widely expected to increase production, but the size of the hike is still being debated. Reports suggest the group may raise output in November by anywhere from ~140,000 barrels per day (Goldman Sachs estimate) to as much as 274,000–411,000 bpd. In September, OPEC already lifted production by about 330,000 bpd as it continues unwinding earlier cuts. Saudi Arabia is said to be pushing for more aggressive increases to regain market share, while Russia is taking a more…