Author: FX
The Australian Dollar (AUD) remains well bid against the US Dollar (USD) on Friday, as US President Donald Trump’s softer stance on trade with China eases risk sentiment. The Aussie is showing resilience even as the Greenback strengthens, supported by Australia’s close trade ties with China.At the time of writing, AUD/USD is holding firm around the 0.6500 psychological level, rebounding from an intraday low of 0.6443. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, is recovering modestly from two-week lows, trading around 98.45, but remains on track for weekly losses.US…
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S&P 500 futures are now more than 130 off the lows in a massive reversal of earlier losses. Futures are now up 39 points, in part because Trump keeps repeating that he expects China will be ‘fine’. This article was written by Adam Button at investinglive.com. Source link
Things coming along pretty wellZelensky also said that he’s confident with US help he can stop the war and that it’s most important for Ukrainians to have security guarantees. Some times these things can happen quickly. The battlefield has stagnated and the costs are high. Maybe this really is the end? If so, I’d imagine the euro and European stocks are one of the cleanest trades and I wouldn’t want to be long oil. This article was written by Adam Button at investinglive.com. Source link
A report earlier today indicated that Treasury Secretary Scott Bessent will speak by phone today with Chinese Vice Premier He Lifeng to discuss the ongoing trade negotiations. It’s not clear what time that was scheduled for as it would have had to been early this morning Washington time or late this evening, in order for the time zones to align.The high-level talks are a good sign that there is at least a will to make progress and de-escalate. Trump today said “I think we’re going to do fine with China.”I’d assume the market is anticipating some positive developments on the…
The Japanese Yen (JPY) weakens against the US Dollar (USD) on Friday, with USD/JPY rebounding after slipping to two-week lows earlier in the Asian session. The recovery comes as the Greenback regains footing after President Donald Trump softened his rhetoric on China, helping stabilize risk sentiment and lift the Dollar across the board.At the time of writing, USD/JPY is trading around 150.38, erasing intraday losses after bouncing off a session low near 149.38. The move reflects renewed demand for the USD as investors unwind defensive positions heading into the weekend.Speaking on Friday, President Trump said his plan to impose 100%…
At times, the Fear & Greed index is a somewhat-useful indicator of market sentiment, particularly at extremes. But somehow it’s showing ‘extreme fear’ at the moment despite the S&P 500 being just 1.8% off the all-time high set just last week.On the face of it, that should be a strong buy signal for stock markets. What it’s picking up on is terrible breadth in the stock market, a swing in the put-call ratio, the FIX at 23.7, falling Treasury yields and junk bond demand. The problem is that these numbers are stochastic and we’re coming off a period of euphoric…
Bank of England (BoE) MPC member Megan Greene spoke about inflation dynamics, the global rate path, and risks in currency markets at the annual meetings of the International Monetary Fund and World Bank Group, hosted by the Atlantic Council in Washington, DC. She claimed that slack has opened up in the labor market, making the wage part of the wage-price spiral less likely.Key TakeawaysSlack has opened up in labour market, making wage part of wage-price spiral less likely.Latest rise in uk unemployment is in line with what we were expecting.We should not cut rates every quarter, but rate cutting cycle…
EUR/GBP trades steadily around 0.8700 on Friday at the time of writing, supported by improved political sentiment in France after Prime Minister Sébastien Lecornu survived two no-confidence motions in parliament. The vote outcome eased tensions following weeks of political turmoil, providing temporary support to the Euro (EUR) against the British Pound (GBP).In the United Kingdom (UK), recent data showed the economy expanding slightly, though underlying pressures remain. The Office for National Statistics (ONS) reported on Thursday that Gross Domestic Product (GDP) rose by 0.1% MoM in August after a 0.1% contraction in July, while Industrial Production increased by 0.4% MoM.…
Federal Reserve (Fed) Bank of St. Louis President Alberto Musalem spoke at the Institute of International Finance Annual Membership Meeting in Washington, DC. He said that he could support a path with another rate cut if more risks to jobs emerge and inflation is contained, and that the Fed should not be on a preset course and follow a balanced approach.I could support a path with another cut if more risks to jobs emerge and inflation contained.Fed should not be on preset course and followed balanced approach.Sees limited space before rate cuts would make policy accomodative.Important for Fed to be…