Author: FX
With few top-tier reports to digest, markets continued to price in Powell’s less dovish remarks. The dollar staged its strongest rally in three weeks, while gold retreated sharply from record highs, reflecting traders’ reassessment of the Fed’s easing trajectory amid persistent inflation concerns. Check out the headlines and economic updates you may have missed in the latest trading sessions! Headlines: New Zealand Finance Minister Willis appoints Swedish Riksbank’s Anna Breman as RBNZ Gov. starting December 1 Copper prices jumped by more than 3% after mining company Freeport-McMoRan declared force majeure at its Grasberg mine in Indonesia Japan S&P Global Manufacturing PMI…
Now that the Fed cut interest rates and kept the door open for more easing this year, will the upcoming core PCE price index reinforce their dovish bias? Expectations are pointing to a sustained pace of increase in price pressures for August, likely keeping tariffs inflation concerns in play. Here are the points you need to know when trading this release. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Unlimited Access access to MarketMilk™ Plus More! Source…
Trump to meet Pakistan PM Shehbaz Sharif on Thursday, US official says Source link
The Figurelli RSI is an advanced version of the classic Relative Strength Index. While the standard RSI often reacts too quickly to short-term market movements, this indicator reduces false signals by applying a smoother calculation. This makes it easier for traders to spot true overbought and oversold levels without second-guessing. By using it, they can filter out noise and focus only on strong trading opportunities. Why Traders Prefer It Over Standard RSI Most traders know the frustration of taking trades based on RSI only to see the market reverse immediately. The Figurelli RSI solves this by delivering more stable signals.…
The White House budget office has directed federal agencies to prepare reduction-in-force plans that could trigger mass layoffs in the event of a government shutdown, according to a memo obtained by Politico.The guidance from the Office of Management and Budget would target employees working on programs not legally required to continue during a lapse in funding. Unlike standard furloughs, the plans outlined would allow for permanent workforce cuts, significantly raising the stakes ahead of a potential shutdown next week.The move reflects the administration’s effort to reshape the federal workforce and could intensify political clashes over budget negotiations, as lawmakers scramble…
Profit taking is the name of the game in global markets today as some of the biggest winners retreat. It’s a similar story in tech stocks, USD shorts and some other high-flying assets.Perhaps the highest flyer of all this year has been gold, which is up nearly 50%. It’s a bit less today with a $42 decline to $3721/oz. In the last month, we’ve seen incredible dip buying in the rally as any decline in the $50-60 range (and often much smaller) was bought aggressively.That will be put to the test again this week. I suspect the break of $3750…
Justice Dept officials' statements on Luigi Mangione broke court rules, judge says Source link
GBP/JPY trades sideways, consolidating recent gains after Tuesday’s dip to its weakest level since September 9.Japan’s flash PMI showed manufacturing contracting further, while services activity held firm.BoE Governor Bailey struck a dovish tone, signaling further rate cuts ahead and citing softer labor market conditions.The British Pound (GBP) trades sideways against the Japanese Yen (JPY) on Wednesday, with GBP/JPY modestly higher, rebounding after briefly slipping to its lowest level since September 9 on Tuesday. At the time of writing, the cross is hovering around 200.00, holding onto recent gains but struggling to extend the advance.Bank of England (BoE) Governor Andrew Bailey…
Prior was -9285KGasoline -1081K vs +150K expDistillates -1685K vs -494K expRefinery utilization -0.3% This article was written by Adam Button at investinglive.com. Source link
In an interview with West Midlands Magazines’ Editor, Simon Archer, Bank of England (BoE) Governor Andrew Bailey said that there is still some further journey down in interest rates to go.”But exactly when that will be and how much it will be will depend on the path of inflation going down,” Bailey added, while noting that there is some softening in the labor market, alongside cautiousness among consumers.”People are being quite cautious at the moment. Of course, that affects spending, so that has an effect on the state of the economy because there isn’t as much,” he elaborated. “People aren’t…