Author: FX

USD/JPY retreats below 157.00 at the end of the week. Traders dumped the USD after soft PCE data. The Fed’s hawkish outlook might limit the pair’s downside. The USD/JPY pair pulled back from its highest levels since July, retreating to 156.50 following the release of US Personal Consumption Expenditure (PCE) data. Softer inflation metrics, coupled with insights from the Federal Reserve’s recent interest rate decision, moderated bullish momentum for the US Dollar. Meanwhile, the pair’s technical indicators signal caution despite maintaining an overall bullish bias. The latest PCE data from the Bureau of Labor Statistics (BLS) revealed subdued price pressures…

Markets:S&P 500 up 1.1%WTI crude up 15-cents to $69.53US 10-year yields down 4.2 bps to 4.52%Gold up $30 to $2623JPY leads, USD lagsThe mood shifted sharply on Friday as stocks looked set for another rout in the pre-market only to reverse higher. The FX market followed a similar pattern, though the moves were less-dramatic. That meant US dollar selling after the dollar hit some of the best levels of the year early in Asia.Two things turned markets: The PCE report and progress on avoiding a government shutdown.On Wednesday, the Fed comments indicated a big shift towards worries about inflation but…

DXY slips as profit-taking sets in, falling toward 107.80. Traders parse disinflationary PCE data after Fed’s hawkish cut on Wednesday. The soft inflation readings might not alter the ‘wait and see’ posture of the Fed. The US Dollar Index (DXY), which measures the value of the USD against a basket of currencies, took a hit after soft Personal Consumption Expenditures (PCE) data was released during the European session. Markets are also assessing political woes in the US, which soured market sentiment. Daily digest market movers: US Dollar reacts to disinflationary PCE, shutdown risks, and Fed stance Risks of a US…

Aussie edges up 0.33%, consolidating around 0.6200. Markets digest US PCE data for policy cues. Fed is seen holding rates steady in early 2025. The Australian Dollar consolidates around 0.6200 on Friday as traders digest November’s US Personal Consumption Expenditures (PCE) inflation data. With the Federal Reserve (Fed) expected to keep interest rates steady at the first 2025 policy meeting, investors also await next week’s Reserve Bank of Australia (RBA) minutes for insight into potential rate moves. Soft US PCE figures are tempering the Greenback’s strength, offering modest support to the Aussie’s nascent rebound. Daily digest market movers: Aussie sees…

The major U.S. stock indices ended the day with gains of 1% or more for all three major benchmarks, but they closed lower for the week. Here’s a detailed snapshot:Closing Levels (Daily Gains):Dow Jones Industrial Average: rose 498.82 points (+1.18%) to close at 42,841.06.S&P 500 Index: rose 63.79 points (+1.09%) to close at 5,930.87.NASDAQ Composite: rose 199.83 points (+1.03%) to close at 19,572.60.Russell 2000 (Small-Cap Index): rose 20.86 points (+0.94%) to close at 2,242.36.Weekly Performance:Dow Jones Industrial Average: fell -2.25%.S&P 500 Index: fell -1.90%.NASDAQ Composite: fell -1.78%.Russell 2000 Index: fell -4.45%.Technical Insights for the NASDAQ Composite: On the hourly chart,…

Fed’s BarrFed vice chair for supervision Michael Barr is worried. He was appointed in 2022 for a term that lasts until 2032 but is worried that Trump may try to remove him.Reuters reports that he sought advice from law firm Arnold & Porter. I’m doubt this is meaningful for markets but it does speak to real worries around Trump and the Fed. It also speaks to how strongly he might feel (or his donors might feel) about bank regulation.Barr, like Quarles before him, rarely weighs in on monetary policy and almost always focuses on regulation and supervision of banks. Source…

Prior was +2.9%These are one-month annualized numbers so small changes led to swings like this. That said, the latest number is one-month running at a sub-2% pace, 11 more to go.6-month annualized: 2.2% vs 2.3% prior12-month: 2.7% unchanged This article was written by Adam Button at www.forexlive.com. Source link

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading and seek advice from an independent financial or tax advisor if you have any questions. Advisory warning: FOREXLIVE™ is not an investment advisor, FOREXLIVE™ provides references and…

Amgen stock gains on drug results of Novo Nordisk. Novo Nordisk’s CagriSema drug reduced testings subjects’ weight less than expected. Amgen itself has struggled with developing its MariTide weightloss drug. AMGN stock has been in a downtrend since at least July.   Amgen stock gained more than 2% in Friday’s morning session after foreign weightloss drug competitor Novo Nordisk (NVO) plunged following the results of new drug testing. As one of the leaders in weightloss pharmaceuticals, the news led other pharma stocks to run higher. The Dow Jones Industrial Average (DJIA) index surged 1.8%, its best outing in awhile and especially…