Mon: Japanese Holiday (Coming of Age Day); M2 & New Yuan Loans (Dec) Tue: EIA STEO; US NFIB (Dec), CPI (Dec) Wed: NBP Policy Announcement; US PPI (Nov; Oct-cancelled), US Retail Sales (Nov) Thu: UK GDP Estimate (Nov), EZ Trade (Nov), US Export/Import Prices (Dec; Nov-cancelled), NY Fed Mfg survey (Jan), Weekly Claims (w/e 3rd Jan), Chinese House Prices…
The Canadian Dollar (CAD) trades little changed against the British Pound (GBP) on Friday, with GBP/CAD struggling to find direction as traders show a muted reaction to Canada’s latest employment report. At the time of writing, the pair trades around 1.8636, hovering near one-month highs. Data released by Statistics Canada showed that Net Change in Employment rose by 8.2K…
Summary: Daily Mail reports Trump has ordered US special forces to prepare invasion plans for Greenland. Senior US military leaders are resisting the plan, calling it illegal and lacking congressional backing. Advisers led by Stephen Miller are said to be pushing the idea after the Venezuela operation. British diplomats see a possible political motive ahead of US mid-term elections….
Richmond Fed President Tom Barkin said the decline in the unemployment rate was welcome and described job growth as modest but stable. He also noted that hiring remains concentrated in healthcare and AI, leaving the overall picture uncomfortably narrow, adding that demand still looks healthy, while progress on inflation will take time, keeping upcoming data in focus. Key Quotes…
Final December reading was 53.3 1-year inflation 4.2% vs 4.1% prior 5 year inflation 3.4% vs 3.2% prior Current conditions 52.4 vs 50.7 prior Expectations 55.0 vs 54.6 prior UMich prelim Dec This isn’t a great economic indicator as answers are increasingly politicized and the inflation numbers are volatile. There was a time when this was tier-2 economic data…
In our December update, we combined the Elliott Wave (EW) Principle with average midterm election-year seasonality and the Armstrong Pi-cycle turn dates and concluded for the S&P 500 (SPX) that “… Provided the index holds above the November 21, 6720 low, the index can set itself up for a subdividing final 5th wave (gray waves W-i, ii, iii, iv,…
The waiting continues. The US Supreme Court works in mysterious ways. The announced on Tuesday that this would be a ‘decision day’ but the court always has a large number of decisions to make and they don’t pre-announce which one it will be. They technically have until June to make the tariff decision but because it was an expedited…
GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.
Late yesterday, Trump posted this on Truth Social: The problem is, that number didn’t match up with what had been reported in the non-farm payrolls report data that had already been released. It also came after the Council of Economic Advisors was briefed on the jobs report (usually the afternoon before the release). The numbers only make sense if…
Japan CFTC JPY NC Net Positions: ¥8.8K vs previous ¥141K
