Author: FX
Fundamental OverviewThe USD continues to consolidate around the highs except against the commodity currencies where it’s been having the upper hand. The US inflation data last week was once again a disappointment although the data that feeds into the Core PCE was overall benign as forecasters expect a 0.13% M/M increase. Nonetheless, the Treasury yields continue to climb and are now back around the post-US election highs. There’s some understandable uneasiness in the bond market given the hot US data and the Fed continuing to cut into an accelerating economy. On the CAD side, the BoC recently dropped the line…
Emini S&P December tested support at 6050/45 with a bounce from here to 6090 yesterday. Source link
By Lucy Papachristou and Nazarali Pirnazarov LONDON/HULBUK, Tajikistan (Reuters) – When Abubakr Yusufi boarded a flight to Moscow in July, he thought he wouldn’t be home for years. The 23-year-old from a small village in Tajikistan hoped to join his uncle and cousins working in construction in the Russian capital and save enough money to return home and find a bride. But Yusufi only saw Moscow from the airplane window. Held for six hours at Vnukovo airport, he said border authorities stamped his passport with a deportation order and put him on a plane back to the Tajik capital, Dushanbe,…
GBP/CHF is knocking on a key technical resistance level after yesterday’s market moves. Will we see an upside breakout this week? Or will the bears step in to keep the pair inside a long-term range? We’re taking a closer look at the 4-hour chart for clues! GBP/CHF 4-hour Forex Chart by TradingView The British pound found buying pressure yesterday, thanks in part to the U.K.’s flash December PMIs hinting at sticky high price pressures that could make the Bank of England (BOE) think twice about aggressively easing its monetary policies. But the PMIs also brought out worries about the labor…
Claros Mortgage Trust (CMTG) has suspended its quarterly dividend on common stock starting from January 2025 to preserve capital and create added financial flexibility for capital allocation decisions. The move came as the company exceeds its 2024 taxable income estimate after it paid three Source link
The U.K. economy will be printing its CPI release a day ahead of the BOE decision this week, so the inflation report could strongly influence policy expectations. Here’s what number crunchers are expecting for this major event. This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source link
Despite a busy economic schedule for the day, markets were off to a sluggish start and correlations were mostly out of sync while asset classes responded to individual catalysts. Still, some risk-on vibes were evident, as bitcoin hit fresh record highs while U.S. markets cheered Trump’s investment announcement. Here are the headlines that pushed markets around in the past sessions: Headlines: New Zealand BusinessNZ services index up from 46.2 to 49.5 in Nov Australia Judo Bank flash manufacturing PMI in Dec: 48.2 (49.4 previous), flash services PMI: 50.4 (50.5 previous) Japan core machinery orders up 2.1% m/m in Oct (1.1%…
Canadian political news, in the wake of the abrupt resignation of finance minister and deputy prime minister Chrystia Freeland on Monday. Via media report:Trudeau says he will take time to reflect on caucus concerns, sources say. At least seven Liberal MPs, including a former cabinet minister, publicly say Trudeau must resign.More at that link.TruD’oh?-USD/CAD is around 1.4245. This article was written by Eamonn Sheridan at www.forexlive.com. Source link
Data from S&P Global showed economic growth accelerating in December, though with significant divergence between sectors. The services sector saw dramatic expansion, with PMI rising to 58.5 from 56.1, marking a 38-month high. If pandemic months are excluded, this was the strongest expansion recorded since March 2015. Meanwhile, the goods-producing manufacturing sector weakened further with PMI falling to 48.3 from 49.7, marking its third consecutive decline and recording the steepest deterioration in manufacturing output since May 2020. Flash manufacturing PMI for December: 48.3 (49.7 previous, 3-month low) Flash services PMI for December: 58.5 (56.1 previous, 38-month high) Flash composite PMI…
USD/CAD drifts lower to around 1.4235 in Tuesday’s Asian session. Fed is likely to cut interest rates by 25 bps at the December meeting on Wednesday. BoC Governor Tiff Macklem said the central bank is preparing for a shock-prone’ future. The USD/CAD pair weakens to near 1.4235, snapping the three-day winning streak during the Asian trading hours on Tuesday. The Canadian November Consumer Price Index (CPI) inflation data is due later on Tuesday. Meanwhile, the US Dollar Index (DXY), a measure of the USD’s value relative to its most significant trading partners’ currencies, edges lower to around 106.75 as traders await the…