Author: FX
Bill Pulte, the Trump-selected Director of the Federal Housing Finance Agency and former chairman of Fannie May and Freddie Mac, nodded to entirely-uncomfirmed reports that Federal Reserve (Fed) Chair Jerome Powell may be considering resigning from his post as the head of the Fed.Fed head rumored to be out, but no solid sources existBill Pulte stated, “I’m encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America, and the economy will boom.”Pulte is an ardent Donald Trump supporter and believes that President Trump should have the authority to control the Fed’s…
The Reserve Bank of Australia (RBA) surprised the markets with a decision to keep interest rates on hold at 3.85% instead of cutting to 3.60%. How did our watchlist setups for this top-tier catalyst fare? Watchlists are price outlook & strategy discussions supported by both fundamental & technical analysis, a crucial step towards creating a high quality discretionary trade idea before working on a risk & trade management plan. If you’d like to follow our “Watchlist” picks right when they are published throughout the week, check out our BabyPips Premium subscribe page to learn more! The Setup What We Were…
In an interview with the Wall Street Journal, Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee warned that ongoing trade policy at the hands of Trump’s constant tariff threats could hamper the ability of the Fed to deliver interest rate cuts that both the broader market and Donald Trump himself want to see.Key highlightsNew tariffs unveiled by Trump have further muddied the inflation outlook, making it more difficult for me to support the rate cuts that the president has pressed for.Over the past few months, after Trump paused the steep bilateral tariffs he proposed in April, anxiety about how…
Major US stock indices are closing the day lower. For the trading week the declines today push the indices into negative territory. For the day:Dow industrial average fell -279.13 or -0.63% at 44371.51S&P index fell -20.71 points or -0.33% at 6259.75.NASDAQ index fell -45.14 points or -0.22% at 20585.53.The small-cap Russell 2000 fared the worst today with a decline of -28.58 points or -1.26% at 2234.82.For the trading week:Dow industrial average fell -1.02%S&P index fell -0.31%NASDAQ index fell -0.08%The small-cap Russell 2000 fell -0.63%Some winners this week included:ETH/USD: +19.73% – Strongest performer; Ethereum surged as crypto sentiment improved.SoFi Technologies: +14.22%…
Trump’s tariff threats dominated FX, sending the yen tumbling while USD surged. Australia’s surprise rate hold boosted AUD. Source link
The Canadian Dollar stumbled back on Friday as tariff fears remain.Canadian labor data overshot forecasts, bolstering the Loonie.Fresh tariff threats from Donald Trump have crimped CAD gains.The Canadian Dollar (CAD) tested lower ground against the US Dollar (USD) on Friday, shedding weight despite Canadian labor data figures outperforming median market forecasts by a sizeable margin, kicking back economic downturn concerns and forcing rate watchers to trim their bets of another Bank of Canada (BoC) rate cut at the next interest rate meeting.Adding further fuel to the risk-off fires that his administration started this week, US President Donald Trump has announced…
Canada CPI – Tuesday, July 15 at 8:30am ET Canada’s inflation data will be closely watched, with headline CPI m/m expected at 0.2%, down from 0.6% previously. Both Median and Trimmed CPI y/y are forecast to remain steady at 3.0%, signaling a still-elevated but stable inflation environment. A softer print could strengthen the case for the Bank of Canada to consider further easing, while any upside surprise may delay those expectations.US CPI – Tuesday, July 15at 8:30 AM ET US inflation is also in focus and the key release for the week with Core CPI m/m and headline CPI m/m…
Over at Kalshi, where you could move this market with a couple thousand bucks, the odds of Powell resigning have risen to about 19% from 14% on this bizarre letter from William Pulte at the FHFA. In it, he cites ‘reports’ about Powell considering resigning but neither me nor anyone else can seem to find any of those ‘reports’ and certainly not in anything remotely reputable.It’s like Pulte is trying to somehow manifest this. 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
This is strange statement as it indicates there are ‘reports’ that Powell is considering resigning. But there are no reports that I can find. Bizarrely, Pulte has been tweeting forever that Powell should resign and also foreshadowed this statement, even though it’s presumably based on ‘reports’.I’m not sure what to make of this but markets don’t appear to be moving at all. This article was written by Adam Button at www.forexlive.com. Source link
AUD/USD pauses below 0.6600 as bulls near the wedge resistance.The Australian Dollar benefits from the hawkish tilt of the RBA, while markets await clarity on when the Fed may begin cutting rates.AUD/USD remains in a strong short-term bull trend as prices weigh trade risks against yield differentials.The battle between the Australian Dollar (AUD) and the US Dollar (USD) persists on Friday, with bulls in the AUD/USD pair continuing to push for a break through the next major resistance level at 0.6600. This psychologically significant level has become a key battleground, holding both bulls and bears in check as price action…