Author: FX
EUR/GBP steadies on German Retail Sales and Inflation data.The Eurozone faces pressure as the ECB reassesses its potential interest rate path.The British Pound fails to extend gains despite rising inflation and a positive growth outlook.The Euro (EUR) is firming against the British Pound (GBP) on Friday, with EUR/GBP holding above the 100-day Simple Moving Average (SMA) near 0.8415.This week has seen notable contrasts between the United Kingdom and the Eurozone, particularly as markets factor in how the Bank of England (BoE) and the European Central Bank (ECB) are likely to approach the coming months.Germany’s Retail Sales figures send mixed signals…
Oil rig coun -4 to 461Nat Gas +1 to 99Total rigs -3 to 563.The price of crude oil is down around $0.50 at $60.40. For the week, the price is down -2.07%. For the month, the price is up +3.85% after the price closed last month at $58.17. For the year the price is down -15.89% from the 2024 closing level of $71.81 This article was written by Greg Michalowski at www.forexlive.com. Source link
Jamie Dimon:US should be taxing carry forward interestNot increase SALT deductionSays we are going to see a crack in the bond market.Don’t know if crisis will be in 6-months or 6-years.The Fed is right to give time to policy.The Fed has to wait and see.In the future I see inflation. I don’t see deflationary stuffDeregulation and permitting would help growth and inflation We should aspire to 3% growth per year This article was written by Greg Michalowski at www.forexlive.com. Source link
The concept of ‘US exceptionalism’ covers many specific themes. For academics it may have referred to the US’s ability to attract bright minds from around the world and generate cutting edge research. Combined with the country’s entrepreneurial culture and venture capital infrastructure, this has helped it to spawn and grow most of the world’s largest tech companies. In turn tech has enabled US labour productivity in the US to grow at a faster pace than its peers, Rabobank’s FX analyst Jane Foley reports. Creditor countries gain as ‘Sell America’ theme takes hold”In recent years, strong labour productivity has helped the…
CTAs will continue to sell crude and industrial metals (x-copper) in most scenarios for prices by this time next week. In the imminent term, CTA selling activity will continue to weigh on price action into the OPEC meeting, TDS’ Senior Commodity Strategist Daniel Ghali notes. Energy demand remains resilient”While markets will struggle to absorb additional barrels from OPEC+, energy demand remains resilient, US shale production is peaking, Venezuelan export licenses have expired, and geopolitical risks surrounding Iran remain elevated— all of which will likely act as a shock absorber to lower prices for the time being.””Beyond the seasonally strong summer…
This is one of those moments where Gold markets are offering a gift, TDS’ Senior Commodity Strategist Daniel Ghali notes. Gold is ‘overbought but underowned’ in market perception”Aggregate open interest in CME Gold is now approaching extreme lows (425k) that have historically marked lows in Gold prices—despite a compelling macro case for Gold. This underscores our view that Gold is perceived as a crowded trade, but is in fact under-owned. This is particularly surprising amid the ongoing megatheme-Gold’s rally is associated with the USD partly losing its store of value function.” “Gold’s rally isn’t about demand, it’s about trust. We expect aggregate…
Trump blasts China for supposedly violating trade agreement.MRVL sells off nearly 8% as semiconductors see multiple compressions.Germany proposes a new 10% tax on US internet platforms.University of Michigan data shows improving consumer outlook in May.US tech stocks are shedding weight on Friday following several negative news stories. The NASDAQ Composite has given up as much as 0.9%, while the Dow Jones Industrial Average (DJIA) is slightly positive.Investors are less enthusiastic after US President Trump issued a rebuke of China in ongoing trade talks. The President didn’t give any evidence but said, “The bad news is that China, perhaps not surprisingly…
Silver price looks for a temporary support after sliding almost 1% to near $33.00 as trade tensions between the US and China have renewed.Trump accused China for non-compliance of trade agreement.The US PCE inflation cools down in April.Silver price (XAG/USD) is down almost 1% near the key level of $33.00 during North American trading house on Friday. However, the white metal strives to gain ground as renewed trade tensions between the United States (US) and China are limited the upside in the US Dollar (USD).The US Dollar Index (DXY), which tracks the Greenback’s value against six major currencies, struggles to…
Have you ever been in a situation where you had a strong hunch that a currency pair would behave a certain way, but you didn’t feel gutsy enough to play that forex trade? And when price moved the way you predicted, did you feel disappointed that you didn’t trust your instincts? Every experienced trader has probably found himself in this pickle at some point in his trading career and has wondered whether trading based on these kinds of hunches would work out or not. After all, much has been said against relying purely on one’s emotions or taking trades based…
Today at 08:30 ET/12:30 GMT, we get the US April PCE price index data which is the Fed’s preferred inflation measure. This isn’t generally a strong market moving release because the data is old news given that it can be calculated pretty accurately from the CPI, PPI and import prices data. WSJ’s FedWatcher Nick Timiraos shared on his X account the estimates from professional forecasters. The figures show another improvement in April. Again, this is already priced in, so don’t take too much out of it. Markets react more and change future expectations based on the CPI and PPI data…