Donald Trump, United States President, announced on Friday through Truth Social a new round of tariffs on the European Union (EU) for cars and trucks. I am pleased to announce that, because the European Union is not complying with our fully agreed-upon Trade Deal, next week I will be increasing tariffs on cars and trucks imported into the United…
The video above takes a detailed look of the 3 major currency pairs – the EURUSD, USDJPY and GBPUSD from a technical perspective. On Wednesday, the Fed kept rates unchanged, but the decision revealed a notable divide beneath the surface. There were four dissenters in what was likely Powell’s final meeting as Chair. Hammack, Logan, and Kashkari pushed back…
The US Dollar Index (DXY) fell to a two-week low near the 98.00 price zone on Friday, extending the losses seen the previous day and ending a week in which the world’s most important central banks confirmed a hawkish shift due to rising inflation pressures. Next week, traders’ attention will remain focused on any development regarding potential negotiations between…
Minneapolis Fed President Neel Kashkari and Cleveland Fed President Beth Hammack were two of the three dissenters to the Fed statement in a rare move. They’re both out with their reasoning. Kashkari: Pre-Iran: easing inflation and steady jobs pointed to gradual cuts Iran shock adds stagflation risk via oil and supply disruption Hammack: uncertainty up, inflation risks skew higher,…
Dow Jones Industrial Average (DJIA) futures traded above 49,800 in overnight and pre-market action, building on a near 1,500-point rally from Thursday morning’s lows around 48,500 and pressing toward the 50,000 mark for the first time. S&P 500 futures held firmly above 7,200 after the cash index closed at a fresh record yesterday, locking in its strongest monthly performance…
Prior month 52.3 last month. Summary of the details from the report PMI (Headline): 54.5 (vs 52.3 prior) → strongest expansion since May 2022 New Orders: Strong increase (4-year high) Driven mainly by domestic demand Exports weak (down for 11 straight months; tariffs + geopolitics) Output (Production): Sharp rise (strongest since April 2022) Largely tied to inventory/stock building, not…
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Highest since June 2022 New orders rise at fastest pace in over four years Output growth strongest since May 2022 as stockpiling drives demand Input cost inflation hits 3.5-year high on Middle East war, fuel and freight Output prices rise at fastest pace since late 2022 as firms pass through costs Vendor delivery times lengthen most in over a…
Gold (XAU/USD) prints back-to-back days of gains, up over 0.50% as the US Dollar extends its losses amid Japan’s intervention in the market and amid news that Iran submitted a new proposal drove Oil prices lower. At the time of writing, the XAU/USD pair trades at $4,643 after bouncing off daily lows of $4,560. Bullion gains as Iran proposal…
Prior month 52.7 manufacturing index 52.7 versus 53.0 estimate. Prices paid 84.6 versus 80.0 estimate and 78.3 last month. Employment index up 46.4 versus 49.0 estimate. Last month 48.7. New orders 54.1 versus 53.5 last month. Production 53.4 versus 55.1 last month. Supplier deliveries 60.6 versus 58.9 last month. Inventories 49.0 versus 47.1 last month. Backlog of orders 51.4…
