Canada retail sales came in a bit softer on the surface, but the underlying details were more constructive. Headline sales rose +0.7% vs +0.9% expected, but the prior month was revised higher to +1.2% from +1.1%. Ex-autos, sales increased +0.5% vs +0.8% expected, with the prior also revised up to +1.0% from +0.8%. So while the current read missed…
Gold trades modestly higher on the day above $4,700 after having touched a fresh 10-day low below $4,660 earlier in the day, but looks to end the week in negative territory. Intensifying US-Iran tensions over the Strait of Hormuz and the lack of progress in peace talks keep investors on edge. Moreover, reviving inflationary fears temper expectations for a…
The Department of Justice is expected to drop its criminal investigation into Federal Reserve Chair Jerome Powell as soon as today, ABC News reports. (Update: It’s now confirmed) Senator Thom Tillis said he wouldn’t advance the nomination of Kevin Warsh so long as the probe remained open. Other Republican Senators were also strongly against it. Powell’s term ends May…
United Kingdom CFTC GBP NC Net Positions rose from previous £-54.7K to £-52K
Sector Overview The U.S. stock market is showcasing a mixed performance, emphasized by notable movements in technology and semiconductor sectors. The technology sector stands out with various software and infrastructure stocks showing positive momentum. Microsoft (MSFT) has managed to post a modest gain of 0.40%, while the semiconductor giant Nvidia (NVDA) rallied with an impressive 1.48% increase, defying the…
Japan CFTC JPY NC Net Positions down to ¥-94.5K from previous ¥-83.2K
Shares of Nvidia have just spiked up to a high of $208.88. That took the price up by over $9 or 4.5% on the day. The price also moved above its all-time high closing level going back to October 29 at $207.04. Since March 30 with the market closing at its low at $165.17. Total trading days: ~18 Up…
Eurozone CFTC EUR NC Net Positions: €41.3K vs €26K
CNN is reporting that the special envoy Steve Witkoff and Jared Kushner will represent the US in the talks in Pakistan this weekend. VP Vance is not going because neither is Ghalibaf, but he does remain on stand-by. The X post from CNN’s Alayna Treene Scoop: Trump is sending his special envoy Steve Witkoff and Jared Kushner to Pakistan…
United States CFTC Oil NC Net Positions fell from previous 206.5K to 192.3K
