Author: FX

It’s tragic that we’ve gone backwards in aviation in some ways in the past 30 years. The Concorde was a symbol of progress and it would be wonderful if I live to see the return of supersonic commercial aviation.The fastest trip the plane did from New York to London was 2 hours and 52 minutes.At supersonic speeds, a flight from New York to LA could take as little as two hours. There has been some progress — like the X-59 — in reducing the (very problematic) sonic boom. Later this year, ForexLive.com is evolving into investingLive.com, a new destination for…

CIBC economists dug through today’s Canadian employment report and see a jobs market that continuing to gradually weaken. The country added 8.8K compares compared to a -12.5K consensus but unemployment ticked up to 7.0% from 6.9%.”Trade sensitive areas such as manufacturing and transportation & warehousing unsurprisingly showed weakness, but for now that is being offset by job growth in other areas,” CIBC writes.If that continues — which they expect — they envision a BOC rate cut in July.”Today’s data suggest that while the economy isn’t yet contracting, it also isn’t living up to its long-run potential resulting in a continued…

No one has better data than Walmart and the CFO is just out saying that consumer spending has been ‘largely consistent’.I wouldn’t take it as gospel because Target threw up some red flags in earnings and Lululemon did today as well but I certainly wouldn’t bet against WMT. This article was written by Adam Button at www.forexlive.com. Source link

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: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…

USD/JPY dailyNomura is outlining a bearish scenario for USD/JPY in a Friday note.They say the pair could fall to 136 from 144.92 currently by the end of September as Japanese investors repatriate and Washington leans on Tokyo to strengthen the yen.Another factor is a hawkish Bank of Japan and rising local yields, which could “encourage domestic investors to increase more domestic bond than overseas bond exposure.”A separate report from MUFG targets 138.30 in USD/JPY. Later this year, ForexLive.com is evolving into investingLive.com, a new destination for intelligent market updates and smarter decision-making for investors and traders alike. Source link

Silver prices rise to 13-year highs as the white metal tests $36.00.Demand for Silver as an industrial metal surges despite softer demand for safe havens.The Gold/Silver ratio plunges, representing a risk-off tone.Silver (XAG/USD) is experiencing another day of positive gains, which has pushed prices to $36.00, its highest level since February 2012, providing a firm barrier of resistance. Silver benefits from both its safe-haven appeal during times of economic uncertainty and its unique properties, which make it one of the most sought-after industrial metals. Both characteristics have underpinned higher Silver prices, which are posting weekly gains of 9% at the time of…

Luis AlvarezThe U.S. stock market has rebounded significantly from April’s woes, with the benchmark S&P 500 (SP500) +19.20% from that month’s closing low. Carson Group’s Ryan Detrick believes this “early low” is evidence that the year can still end strongly and even Source link

Today’s US jobs report calmed nerves but there are still some dark clouds on the horizon. Business Insider today reports that Amazon has frozen its hiring budget for its main retail business, citing internal emails.The changes only apply to corporate employees, not those working in warehouses or the cloud computing division. However it does apply to Amazon’s online marketplace, its logistics arm and grocery business.According to BI: The company doubled its workforce to 1.6 million from 2019 to 2021, but that number dipped to 1.55 million last year. Amazon has cut at least 27,000 employees since late 2022.I wonder if…

WTI crude oil dailyThe week began with OPEC adding barrels once again and there was also a mid-week report that Saudi Arabia wanted to keep adding 411K bpd in August and potentially September.Despite all that, oil is having a great week, up 6.5%. Perhaps some of that was relief that OPEC didn’t add even more barrels on the weekend but it’s a move that’s caught the market by surprise. I highlighted a potential inverted head-and-shoulders pattern at the start of the week and now we’re at the point where it could break the neckline. Such a move would need to…

Sterling still set for weekly gain over 0.80% amid broad Greenback weakness earlier in the week.US economy added 139K jobs in May, beating forecasts and reinforcing Fed’s cautious stance on rate cuts.Dollar strength resurfaces, with DXY climbing 0.58% to 99.28, its highest in two days.GBP/USD tumbled during the North American session, down over 0.30% after the latest jobs report in the United States (US) maintained the status quo, with the economy remaining strong. The pair traded at 1.3526 after hitting a daily high of 1.3586.Pound retreats below 1.3550 after NFP beats estimates, lifting the US Dollar and dampening dovish expectationsUS…