Author: FX
The EUR/USD ended Friday with losses of 0.10% but the week finished on a higher note up 0.51% as risk appetite deteriorated amid growing speculation the Federal Reserve would pause its easing cycle next month. Nevertheless, the pair closed above the 1.1600 figure, paving the way for further upside.Euro ends slightly lower Friday but posts weekly gains, supported by mixed Fed signals and steady Eurozone growthSince Wednesday, the majority of Federal Reserve officials remained hawkish. Regional Fed bank presidents, led by Beth Hammack, Raphael Bostic, Alberto Musalem, Susan Collins, Neel Kashkari and Jeffrey Schmid favored a modestly restrictive monetary policy,On…
Central banks, surprise data, and political twists drove wild moves this week—sending the U.S. dollar tumbling and other currencies scrambling for direction in fast-changing FX markets. Source link
Markets:Gold down $91 to $4079WTI crude oil up $1.23 to $59.97US 10-year yields up 3.6 bps to 4.15%S&P 500 flatBitcoin down $3896 to $94,906NZD leads, CHF lagsImplied odds of a Fed cut in December were at 66% early this week but fell yesterday and continued to slide today. They’re now at just 40% despite no real change in Fed commentary. There are still some vociferous hawks and doves but nothing has really changed on communication. It’s like the market finally went back and listened to what Powell said on October 30.In any case, it was another choppy day. US equity…
Berkshire Hathaway is out with its latest 13F filing and it doesn’t show it show any big deployments of the +$340 billion that Warren Buffett’s firm holds in cash.Some notable highlights:Apple holdings cut by 14.9% (still worth $65 billion)Adds 17.8m shares of Alphabet (Google) worth $4.9 billion at today’s pricesEliminates holdings of D.R. HortonCuts stake in Verisign by 32.4%Cuts stake in Bank of America by 6.1%Raises stake in Dominos Pizza by 13.2%Buffett has previously lamented not investing in Google.”We missed it,” the famed investor and Berkshire boss told CNBC in May 2017. “I should have got Google,” he told the…
US equity markets slumped hard at the open but recovered to flat within 90 minutes of the open. From there some strong momentum and FOMO in tech names took over and there were strong gains. However late in the day, the enthusiasm fizzed and most markets closed near flat, which also left them close to flat on the week.On the day:S&P 500 flatNasdaq Comp +0.1%DJIA -0.6%Russell 2000 +0.3%Toronto TSX Comp +0.3%Notably, today was the first day since April 7th that the Nasdaq traded down at least 1.5% intraday but finished the day positive.On the week:S&P 500 +0.1%Nasdaq Comp -0.5%DJIA +0.3%Russell…
Risk assets bounced and so did bitcoin but it’s giving it back. Bitcoin is now at a fresh low since May and perilously close to breaking the May low.It’s basically flat year-over-year and down sharply since early October when it hit a record $126K.Bitcoin dailyIf you zoom out on the weekly chart, there is still a very since uptrend from the 2023 low at $15,556 but we’re close to the bottom of that trendline.bitcoin weeklyIt’s starting to feel like bitcoin is yesterday news meme. There is so much enthusiasm for AI and even quantum computing and that’s where all the…
If you’re a gold trade, there is an article out today that highlights some very important points. It cites a handful of different analysts but the main point is that no one knows how much gold central banks are buying because any reporting on it is voluntary and they don’t want to be front run.China is reporting about 2 tonnes per month of buying but Soc Gen says purchases could be 250 tonnes this yearUnlike oil, where you can track it with satellites, with gold you can’tPeople are trying to spot patterns in orders for 400oz gold barsChinese reserves could…
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Oil has been batted around this week as the market tries to get a sense of what’s happening to Russian barrels and with the overall risk mood in markets. It was beaten up on Wednesday in a relatively calm day and then it rebounded yesterday and today despite the risk rout. Some of that suggests that oil is being used as a hedge and that helps to explain the heavy short interest. As books were pared down yesterday, the shorts were covered.Zooming out, the weekly chart shows that the volatility of the past three weeks is all still within the…
We’ve got a jobs report on the economic calendar.The BLS announced that it will release the Sept 2025 employment report on November 20, that’s next Thursday at 8:30 am ET.It’s ancient history at this point but it’s a start. This article was written by Adam Button at investinglive.com. Source link