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…
European Central Bank (ECB) Governing Council member Olli Rehn said on Friday that the slowdown in inflation alongside weakness in the Eurozone economy strengthened arguments to lower borrowing costs next month, per Bloomberg. Key quotes The growth outlook in Europe, especially manufacturing, is rather subdued. In my eyes, this enforces the case for a rate cut in September. We already have…
The US e-mini S&P contract is trading above and below unchanged at 5652.75. The high-priced has reached 5659.25 of the low price has extended down to 5646.50 Last week, the major indices closed up for the second consecutive week. Dow rose 1.27% after rising 2.94% the week before, S&P index rose 1.45% after rising 3.93% the week before, Nasdaq…
United States CFTC Oil NC Net Positions: 222.3K vs previous 231.5K
Gaza talks in Cairo end without an agreement. Aiios is out saying: “Gaza talks will continue in the coming days through working groups to address issues and remaining details” Meanwhile on Sunday, the rockets were flying in Israel. Israel launched a preemptive airstrike on Hezbollah in southern Lebanon, reportedly using 100 jet fighters to hit 40 locations. This action…
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The US dollar has fallen sharply after a speech from Fed Chairman Jerome Powell said it was time to pivot policy and he added a key line about keeping the jobs market strong. “We will do everything we can to support a strong labor market as we make further progress toward price stability.” That line echoes the famous ‘whatever…
S&P 500 recovered from weak Thursday close, and there were subtle clues (shared with clients) as to why interest rate sensitive plays (beyond Russell 2000) would do better than largecaps Friday – the whole week slated to be a strong one. Little wonder – rates were not protesting, and confidence in soft landing growing. All at the expense of…
This week our currency strategists focused on inflation and flash business survey data, specifically from Canada and the Euro area for potential high quality setups. Out of the four scenario/price outlook discussions this week, only one discussion arguably saw both fundie & technical arguments triggered to become a potential candidate for a trade & risk management overlay. Check out…
Here is the state of play after Powell’s speech at Jackson Hole in equity markets: S&P 500 up 1.3% Nasdaq Comp up 1.8% Russell 2000 up 2.2% DJIA +1.0% There is some resistance in the S&P 500 right now as it challenges yesterday’s opening high. If that doesn’t crack, then watch out for profit taking despite a dovish speech….