Data from Japan’s finance ministry for spending on plant and equipment in April-June 2024: +7.4% y/y expected +9.9%, prior +6.8% for the q/q, +1.2% Capex is an input to the GDP data for Q2 due on September 9 Other data showed sales rose 3.5% y/y, while recurring profits rose 13.2% y/y Japan Inc. does not appear to faring too…
AUD/USD trades stronger around 0.6770 in Monday’s early Asian session. The US Fed’s closely watched inflation measure rose 2.5% YoY in July. China’s NBS Manufacturing PMI declined to 49.1 in August; Non-Manufacturing PMI rose to 50.3 in the same period. Chinese August Caixin Manufacturing PMI will be released on Monday, which is expected to improve to 50.0 vs. 49.8…
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This week our currency strategists focused on inflation and GDP data, specifically from Australia and the U.S. for potential high quality setups. Out of the four scenario/price outlook discussions this week, two discussions arguably saw both fundie & technical arguments triggered to become potential candidates for a trade & risk management overlay. Check out our review on those discussions…
Mon: US & Canada (Labor Day), EZ & UK Final Manufacturing PMIs (Aug), Chinese Caixin Manufacturing PMI Final (Aug) Tue: Swiss CPI (Aug), Swiss GDP (Q2), Turkish CPI (Aug), US ISM Manufacturing PMI (Aug), Final Manufacturing PMI (Aug) Wed: BoC & NBP Policy Announcements; Australian GDP (Q2), Chinese Caixin Services PMI (Aug), EZ & UK Composite/Services Final PMIs (Aug),…
The Dow Jones clipped a new record high bid to round out the trading week. US PCE inflation held steady in July, teasing investors without giving further hope. Coming up next week: US long weekend, PMI figures, and another NFP print. The Dow Jones Industrial Average (DJIA) tipped into a fresh record intraday high on Friday, echoing Monday’s record-setting…
WTI crude oil daily There has been some talk that the planned OPEC+ barrel return would be pushed back but it’s still coming, according to a report from Reuters that cites six sources. I’m not terribly surprised by the messaging. US oil companies set budgets in Sept/Oct and OPEC surely doesn’t want them to set out to increase production…
USD/JPY maintains a downward bias, needing to break key resistances for a bullish shift. Short-term buyer momentum faces obstacles at 146.93 (Senkou Span A) and 148.46 (Kijun-Sen), with an eye on the 149.39 peak. Mixed RSI signals suggest short-term buyer dominance but an unclear broader trend. A drop below 145.39 (Tenkan-Sen) could trigger further losses, with supports at 143.44…
Stock heatmap by FinViz.com Fri, 30 Aug 2024 13:46:11 GMT Overview of Market Sectors Today’s stock market heatmap reveals a broad spectrum of performances across various sectors, with the tech and consumer cyclical sectors taking the spotlight through impressive gains. Meanwhile, the energy sector faced notable declines, dragging down related stocks. Tech and Consumer Cyclical Shine The technology sector,…
