Author: FX

US stock market futures were flat ahead of the open and that’s pretty much where they finished. There was a brief rise to a fresh intraday record high late in the day but that faded and the S&P 500 closed down 3 points to 6584, ending a four-day winning streak. The Nasdaq closed modestly higher, led by a 7% squeeze higher in Tesla shares.Closing changes:S&P 500 -0.1%Nasdaq Comp +0.5% (record high close)DJIA -0.6%Russell 2000 -0.8%Toronto TSX Comp -0.4%On the week:S&P 500 +1.6%Nasdaq Comp +2.0%Russell 2000 +0.5%Toronto TSX Comp +0.8% This article was written by Adam Button at investinglive.com. Source link

The NATO chief has called the incursion ‘absolutely reckless’ but very few are calling for any kind of retaliation.Russia’s UN envoy today says it was ‘physically impossible’ for a Russian drone to have reached Polish territory. This article was written by Adam Button at investinglive.com. Source link

The Dow Jones recoiled on Friday after tapping record highs this week.Consumer sentiment indicators showed a steeper-than-expected decline.Next week’s upcoming Fed rate call will also include an SEP update.The Dow Jones Industrial Average (DJIA) pared gains on Thursday, slipping back below 46,000 after chalking in record levels through the midweek sessions. University of Michigan (UoM) Consumer Sentiment Index figures for September declined much faster than forecasts expected, and long-term inflation expectations also rose.The Federal Reserve (Fed) is broadly expected to trim interest rates on September 17 in the face of crumbling labor market data despite a near-term uptick in inflation.…

It’s a big week for Canada with CPI and a Bank of Canada rate decision on deck. Here’s what’s coming up:Monday, Sept 15 • 8:30 am ET: July manufacturing shipments (consensus +1.8% m/m after +0.3% previously) • 8:30 am ET: Wholesale sales ex-petroleum (Jul, +1.3% expected) • 9:00 am ET: Existing home sales (Aug, prior +3.8%)Tuesday, Sept 16 • 8:15 am ET: August housing starts (consensus 273.2K vs 294.1K prior) • 8:30 am ET: CPI (Aug, headline seen at +0.1% m/m, +2.0% y/y) • 8:30 am ET: Core measures (median +3.1% y/y, trim +3.0% y/y)Wednesday, Sept 17 • 8:30 am…

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…

Blackrock’s Rick Rieder has evidently made the long list of Fed candidates and he impressed Scott Bessent, according to a Bloomberg report.I don’t think it’s any surprise that Rieder said the Fed ‘should’ cut by 50 basis points at the upcoming meeting and maybe that’s why he got the interview (or the praise). The interview was this morning and ‘lasted for two hours’, according to the report.That said, Rieder is certainly credible. He is a smart, thoughtful guy and of all the names floated for Fed Chair so far, I think he would instill the most confidence in the bond…

Yesterday I wrote about the breakout in Tesla shares:At the moment, earnings simply don’t matter and this chart shows a nice looking series of higher lows that could be capped by a return the 2024 highs. Given the parabolic move in Oracle shares yesterday, I would certainly be wary of being short.Sure enough, it was as simple as going with the breakout after a long period of consolidation. Shares are up 7% today in a sign that the move could run back to the 2024 highs.The tell was Oracle earlier this week as it went straight parabolic and I think…

WTI trims intraday gains after facing resistance at the 21-day SMA.Technical resistance remains firm, with price action capped near $63.50 and momentum indicators signaling subdued trend strength.Immediate support rests at $61.50; a break lower could expose $60.50–59.50.West Texas Intermediate (WTI) Crude Oil reversed course during the American session on Friday, paring intraday gains after hitting a daily high of $63.69. The US benchmark faced renewed selling pressure as bears defended the 21-day Simple Moving Average (SMA), a level that has repeatedly capped upside momentum in recent days.At the time of writing, WTI is changing hands near $62.30, still up nearly…

Gold rebounds after weak UoM sentiment and soft jobs data boost rate cut bets.Payroll revision and rising Jobless Claims outweigh steady inflation prints earlier in the week.Geopolitical tensions and looming 25 bps Fed cut keep safe-haven demand strong ahead of September SEP.Gold prices rise over 0.44% during Friday’s North American session as weaker than expected jobs market data increased the chances that the Federal Reserve (Fed) will cut interest rates next week. At the time of writing, XAU/USD trades at $3,649 after hitting a daily low of $3,630.Bullion rises on weak Consumer Sentiment, Jobless Claims boost Fed easing betsThe week…

EURUSD 10 minsTreasury yields are 3-6 basis points higher on the day and that initially gave the US dollar a lift today but it’s fading. The dollar has been under some modest pressure since the softer UMich consumer sentiment data. That’s helped boost the euro to 1.1737 from 1.1712.There are similar 20-30 pip moves elsewhere and what’s likely flows ahead of the weekend. Notably, the dollar has weakened even as the odds of a larger Fed rate cut have declined. The implied chance of a 50 basis point cut is down to 4.8% and that may be due to the…