Forexlive RSS Breaking news feed

Forexlive RSS Breaking news feed

ForexLive Americas FX news wrap: Dollar stays strong, US equities finish with a fourish

Posted: 28 Jan 2022 01:20 PM PST

US December core PCE 4.9% vs 4.8% expected Dallas Fed trimmed mean PCE price index 3.9% annualized versus 4.4% last month Initial Atlanta Fed GDP tracker for Q1 points to nil growth NZDUSD down for the 7th consecutive day Fed's Kashkari: Long end of the yield curve is signaling

And just like that, the 3 major indices close higher on the week

Posted: 28 Jan 2022 01:20 PM PST

The 3 major indices (Dow, S&P and Nasdaq) rode a wave of buying higher on the day, closed at the highs and just like that, erased the declines for the week.  The Dow, S&P and Nasdaq each had best day of the new year Dow and S&P posted their first weekly gain in four weeks NASDAQ posts i

US stocks climb to the highs of the day

Posted: 28 Jan 2022 12:33 PM PST

The volatility in equities continues. There was an air pocket in US stocks an hour ago but they've quickly rebounded and now the S&P 500 is at the highs of the day, up 64 points to 4390.

Key Earnings releases for the week of January 31 to February 4

Posted: 28 Jan 2022 12:13 PM PST

The calendar week starting January 31 has a number of key earnings releases which could impact the market. Some of the leading names include Alphabet, AMD, Starbucks, Exxon Mobil, PayPal, Amazon, Ford, GM.Below is a list of the earnings and scheduled day:Monday Jan 31AlibabaTuesday Feb 1AlphabetElec

MUFG trade of the week: Short EUR/CAD

Posted: 28 Jan 2022 11:35 AM PST

MUFG Research maintains an EUR/CAD short and they're doubling down in their weekly trade of the week. They are short the pair targeting 1.3500 with a stop at 1.4670. Spot is currently at 1.4257."We are maintaining a short EUR/CAD trade idea. The trade idea is to reflect widening policy dive

Is this the worst January ever for US stocks? It's close

Posted: 28 Jan 2022 11:15 AM PST

There's an old saying in markets: So goes January, so goes the year. Investors better hope it's not true. The S&P 500 currently sits higher by 36 points on the day to 4362. That puts the month-to-date move at -8.47%. The all-time worst January was in 2009, which produced an 8.6% decline. To beat tha

Dallas Fed trimmed mean PCE price index 3.9% annualized versus 4.4% last month

Posted: 28 Jan 2022 10:15 AM PST

The Dallas Fed trimmed mean PCE price index fell to 3.9% from 4.4% in November. What is the trimmed mean inflation rate?From the Dallas Fed:"Calculating the trimmed mean PCE inflation rate for a given month involves looking at the price changes for each of the individual components of personal consu

Initial Atlanta Fed GDP tracker for Q1 points to nil growth

Posted: 28 Jan 2022 08:47 AM PST

We're three months away from the initial data on Q1 US GDP growth but the Atlanta Fed's tracker isn't liking what it's seen so far. The consensus is just above 3% but the Atlanta Fed estimate is just 0.1%.

US has few options with oil prices continuing to strength

Posted: 28 Jan 2022 08:25 AM PST

Headlines are crossing now about the Iran nuclear deal, saying they're at the point where political decisions are needed. That's another signal of progress and it highlights that a deal is possible. But it will come down to the White House and what they're prepared to give up. Oil is at $

Canada November budget deficit C$1.44B vs year ago at $15.4B

Posted: 28 Jan 2022 08:09 AM PST

April-Nov deficit $73.7B vs year ago $232.0BWhile these are some big improves, the hole that's been blown in the Canadian budget (and it continues to grow) is enormous.

UMich final January consumer sentiment 67.2 vs 68.7 expected

Posted: 28 Jan 2022 07:00 AM PST

Prior was 68.8Expectations 64.1 vs 65.9 prelimCurrent conditions 72.0 vs 73.5 prelim1-year inflation 4.9% vs 4.9% prelim5-10-year inflation 3.1% vs 3.1% prelimI don't put any stock into this indicator. It's highly partisan and doesn't correlate with anything.

US stocks claw back premarket losses and open mixed/higher

Posted: 28 Jan 2022 06:34 AM PST

The major US stock indices were lower in premarket trading, but have clawed back those declines. The S&P index is trading near unchanged. The NASDAQ index is higher. The Dow industrial average is heading lower.A snapshot of the market currently shows:Dow industrial average -162 points or -0.48% at 3

Video: What next for markets and the dollar after the FOMC

Posted: 28 Jan 2022 06:33 AM PST

Yesterday I spoke with Dale Pinkert from TradeGateHub about the lay of the state of play in the FX market in the aftermath of the Fed decision. I spoke about why I'm still upbeat on the macro picture except for one big caveat.

US stocks claw back losses. Now set for a flat open

Posted: 28 Jan 2022 06:23 AM PST

I'm continuing to watch the front end of the bond market closely. US 2-year yields sank to 1.17% from 1.23% and that reversed the risk-off mood. Since then though, rates have moved back to 1.194% and that's kept stocks flat. S&P 500 futures are down 4 points just ahead of the open. I'm sure that won

The bid in energy returns as natural gas jumps 10%

Posted: 28 Jan 2022 06:13 AM PST

I wrote yesterday that while the squeeze into contract settlement in natural gas was on low volume, it was the kind of thing that can change the psychology of the market. Compound that with cold weather, a US court canceling a drilling auction and Ukraine worries and there is a sudden bid in natural

Risk mood improves as US 2-year yields backtrack

Posted: 28 Jan 2022 05:45 AM PST

I tend to dismiss the employment cost index during the pandemic because much of the skews represent the short-term hiring/firing of low wage workers during the pandemic. In any case, the numbers were a touch light today and perhaps the PCE inflation numbers weren't as high as feared. Finally, we cou

US employment cost index for 4Q 1.0% vs 1.2% estimate

Posted: 28 Jan 2022 05:31 AM PST

Employment cost index for 4Q US employment cost index for 4Q 1.0% versus 1.2% estimate prior 3Q gains was 1.3% employment wages 1.1% versus 1.5% previously employment benefits 0.9% versus 0.9% previously YoY employment costs rose 4.0% vs 2.5% in 2020 Wages and s

US December core PCE 4.9% vs 4.8% expected

Posted: 28 Jan 2022 05:30 AM PST

    Prior was 4.7% PCE price index +0.4% m/m vs +0.6% prior PCE price index +5.8% y/y vs +5.7% prior Consumers spending and income for December: Personal income +0.3% vs +0.5% expected. Personal spending -0.6% vs -0.6% expected. Real personal spending -1.0% vs -0.2

ForexLive European FX news wrap: Dollar marches higher, equities mood sours

Posted: 28 Jan 2022 04:40 AM PST

Headlines:Tough to find much fault with the dollar when you look at the charts right nowNZD/USD continues to be pressured lower, seventh consecutive daily decline beckonsAUD/USD just inches away from 0.7000, things looking diceyGerman Q4 preliminary GDP -0.7% vs -0.3% q/q expectedSpain Q4 preliminar

US futures nudge lower on the day

Posted: 28 Jan 2022 02:48 AM PST

S&P 500 futures -0.2% Nasdaq futures +0.3% Dow futures -0.3% Despite the earlier optimism, it belies the more tentative and guarded mood in the market overall. Equities have been all over the place in US trading this week and today may be no different. In trading yesterday, stocks clo

NZD/USD continues to be pressured lower, seventh consecutive daily decline beckons

Posted: 28 Jan 2022 01:53 AM PST

The drop below 0.6700 last week was the crucial element in driving the declines for NZD/USD as of late but the stronger dollar and more hawkish Fed certainly exacerbated that sentiment.As a result, the pair is now finding itself on the verge of seven straight days of declines - down another 0.4%

German Q4 preliminary GDP -0.7% vs -0.3% q/q expected

Posted: 28 Jan 2022 01:19 AM PST

Prior +1.7%GDP (non-seasonally adjusted) +1.4% y/yPrior +2.5%GDP (working day adjusted) +1.4% y/yPrior +2.5%Apologies as there is a bit of a delay on the post due to technical difficulties. The German economy contracted more than expected in Q4 last year, owing to the spread of omicron and restricti

AUD/USD just inches away from 0.7000, things looking dicey

Posted: 28 Jan 2022 12:35 AM PST

Amid the more bullish dollar post-Fed, the drop towards 0.7000 now was one that was coming since yesterday as pointed out here.As things stand, this marks a critical point for AUD/USD from a technical and psychological perspective.The pair has held a defense at 0.7000 on several occasions pr

European equities mostly subdued at the open today

Posted: 28 Jan 2022 12:10 AM PST

Eurostoxx -0.2%Germany DAX -0.7%France CAC 40 +0.3%UK FTSE -0.2%Spain IBEX flatIt's tough to really decipher much from the moves in Europe to start the day as regional indices have to balance out the late declines in US stocks yesterday alongside the more positive sentiment in futures today.S&P 500

Switzerland January KOF leading indicator index 107.8 vs 107.0 prior

Posted: 28 Jan 2022 12:00 AM PST

Prior 107.0; revised to 107.2 A slight improvement in terms of outlook sentiment of the Swiss economy, reflecting some signs of stabilisation perhaps as the new year gets underway. The reading measures the future trends of overall economic activity in the Swiss economy.
Posted by: at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)