Author: FX
USD/CHF stages a modest rebound on Friday after slipping to its lowest level since October 17 earlier in the European session. The pair found support as traders reacted to headlines that the United States (US) and Switzerland have reached a new trade deal, helping stabilize sentiment.At the time of writing, USD/CHF is trading around 0.7931, snapping a seven-day losing streak as a slightly firmer US Dollar (USD) helps limit the downside. The US Dollar Index (DXY), which measures the Greenback’s value against a basket of six major currencies, is staging a modest rebound from two-week lows, trading around 99.37, up…
Pound Sterling slumps against US Dollar as Greenback turns positiveThe Pound Sterling (GBP) trades 0.4% lower to near 1.3130 against the US Dollar (USD) during the European trading session on Friday. The GBP/USD pair faces selling pressure as the Pound Sterling remains on the back foot, and the US Dollar has recovered strongly. Read More…GBP/USD slips near 1.3150 as UK government drops plans to raise tax ratesGBP/USD retraces its recent gains from the previous session, trading around 1.3150 during the Asian hours on Friday. The pair depreciates as the Pound Sterling (GBP) declines amid rising concerns over fiscal discipline and political stability…
Federal Reserve (Fed) Bank of Kansas City President Jeffrey Schmid spoke about the economic outlook and monetary policy at the Joint Energy Conference hosted by the Federal Reserve Banks of Dallas and Kansas City, in Denver on Friday. He said that monetary policy should lean against demand growth and that there is no room for complacency on inflation expectations.Key takeawaysFurther rate cuts won’t patch job market cracks, could do damage to inflation.My rationale for October dissent continues to guide me as I head toward December.Inflation is too hot, labor market is cooling but largely in balance.Fed policy is modestly restrictive,…
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S&P 500 trend change it was, as per yesterday‘s title and short calls bringing great profits to all clients, swing and intraday. The veracity of the push lower clearly says market wasn‘t ready for that turn, yet at the same time, there was no panic, and the selling was orderly. VIX – was this a spike to speak of, is this what one sees at important bottoms?There were enough clues before the slide (you remember me talking the dollar), some presented in yesterday‘s free article, many more in its premium section, stock tickers given, sectors pinpointed.With selling this strong, there…
Another batch of Chinese economic data just dropped, and traders are scrambling to figure out what it means for Beijing’s next moves. Why does this matter now? Because China’s economy is at a crossroads. October’s data showed retail sales beating expectations at 2.9% growth, but industrial production disappointed at 4.9%, well below the 5.5% forecast. Meanwhile, the really alarming number was buried in the details: fixed asset investment fell 1.7%, nearly double the expected 0.8% decline. Read on to understand what these numbers actually mean, why the government might (or might not) unleash more stimulus, and what it all could…
West Texas Intermediate (WTI) US Oil trades around $59.50 on Friday at the time of writing, up 1.60% on the day, after hitting a daily high at $60.47. The Crude Oil recovers after a Ukrainian drone strike damaged an Oil depot at Russia’s Black Sea port of Novorossiysk, one of the country’s key export hubs. According to regional authorities cited by Reuters, debris from the strike hit a trans-shipment facility and several coast-side structures, immediately stoking fears of supply disruptions.Oil prices are also gaining support from risks surrounding upcoming United States (US) sanctions targeting Russian Oil flows, which come into…
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Alex Wickham, political editor for Bloomberg UK, posted on his X account that “Rachel Reeves received an improved fiscal forecast from her budget watchdog putting the fiscal hole at £20 billion, leading her to drop plans to raise income tax rates according to people familiar with the matter”. “The latest update from the Office for Budget Responsibility moved in a significantly better direction due to the strength of receipts and stronger wage performance. As well as filling the £20 billion gap, Reeves is still expected to deliver headroom against her fiscal rules of between £15 billion and £20 billion”. “An…