Blogs

<p>The USDCAD is making a new session high and in the process is taking a peek above a swing area between 1.3348 and 1.3353. Getting and staying above the area, and then testing – and moving above – the falling 100-hour moving average at 1.37707 would be needed to increase the bullish bias and give […]

<p>It's always darkest right before it goes completely back.</p><p>It's been a rough year for the Chinese market and it's finishing on a bad note. Have a look at the FXI China ETF today. It's down 5% and at the lowest since November 2022.</p><p>Stock markets everywhere have been rallying for the pas

<p>The major US stock indices have hit the skids with the NASDAQ down 100 points now or -0.68%. The S&amp;P index is also down by around the same amount.</p><p>Looking at the short-term five-minute chart of the Nasdaq index, the fall below the 100 bar MA started the decline and then gathered more momentum on the […]

<p>The market didn't like what it heard from FedEx in yesterday's post-closing earnings report and shares of the company are down 11%. Fedex is a good proxy for broader economic activity and the fall in its shares might be giving the bulls second thoughts. </p><p>In the Nasdaq, chipmakers are giving back some recent gain

<p>The AUDUSD has consolidated the gains from yesterday which saw the pair move away from the 50% midpoint of the 2023 trading range. That midpoint level comes in at 0.67134. The high yesterday extended to 0.6774. The high price today extended to 0.67785 to a new 4+ month high but only barely.</p><p>The low for the […]

<ul><li>Says he's not as optimistic as markets on the timing of the first cut</li><li>First rate cut could come around middle of 2024</li></ul><p>The market is 50/50 on the first cut coming in March with 101 bps in cuts priced in for the July 6 meeting.</p> This article was written by Adam Button

<ul><li>Agreed that risks to the inflation outlook remained and it might still be necessary to hike</li><li>Expressed concern that shelter price inflation could remain elevated, which could make it more-difficult to return inflation to 2%</li><li>Felt and significant and sustained increase in new home constructio

<ul><li>Prior was 4.780%</li><li>Bid to cover 2.55 vs 2.36 prior, recent average 2.68</li></ul><p>The 20-year has the fattest yields on the curve but it wasn't enough as we get a 1.5 bps tail. I get the sense the market sniffed this out in the past few hours as yields moved up in a concession.</p>

<ul><li><p>High Yield:</p><ul><li>Last: 4.780%</li></ul></li><li><p>Tail (the difference between the WI level at the time of the auction vs the actual high yield):</p><ul><li>Last: -1bps</li><li>Six-month average: -0.6bps</li></ul></li>

<p>Philadelphia Fed Pres. Harker speaking on WHYY Radio says:</p><ul><li>The job of controlling inflation is not done.</li><li>Things are looking better for the inflation outlook.</li><li>Hearing things are starting to soften faster than data suggests</li><li>We don't need to raise ra