Blogs

<p><img width="558" height="307" src="https://www.actionforex.com/wp-content/uploads/featured-images/f-usa4.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="" decoding="async" fetchpriority="high" /></p> <p>US ISM Services PMI

<p>UBS preview the December Federal Open Market Committee (FOMC) meeting coming up on the 12th and 13th. </p><p>UBS says that the December Summary of Economic Projections (SEP) that'll be issued alongside the Statement is likely to project at least one rate cut in 2024 and more likely two. The market has become gung-ho on FOM

<p>The euro is down 14 pipis today to 1.0832 but bond yields throughout Europe are much lower today.</p><p>The main comments today came from the ECB's Schnabel who <a href="https://www.forexlive.com/centralbank/ecbs-schnabel-further-rate-hikes-rather-unlikely-after-latest-inflation-data-20231205/" target="_b

<p>The bong end is doing the heavy lifting today as the market looks towards a future that looks much like the 2010s past of low rates and low yields. ECB top economist Isabel Schnabel today highlighted how she's been surprised by the fall in inflation. That's led to strong bids in duration throughout the world […]

<p>US job openings fell to the lowest since March 2021 as the post-pandemic hiring boom fades. That decline will make the Fed more comfortable in ending the rate-hiking cycle and switching to rate cuts in 2024.</p><p>Job openings in the JOLTS report fell to 8.733 million from 9.553 milion, far short of the 9.3 million consensus. [

<ul><li>Prior month 9.553M (revised to 9.350M)</li><li>Hires 3.7% vs 3.7% prior. </li><li>Separations rate 3.6% vs 3.6% prior.</li><li>Quits 2.3% vs. 2.3% prior. It was the 4th consecutive month at the same rate</li></ul><p>The low job openings for 2023 was at 8.92M in July. This is

<ul><li><a href="https://www.forexlive.com/news/us-october-ism-services-518-vs-530-expected-20231103/" target="_blank" rel="follow">Prior </a>was 51.8</li></ul><p>Details:</p><ul><li>Employment index 50.7 versus 50.2 prior</li><li>New orders index

<ul><li>Prelim was 50.8</li><li>Prior was 50.6</li><li>Composite PMI 50.7 vs 50.7 prelim</li><li>Prior composite PMI 50.7</li><li>input cost inflation eased to the slowest in over three years (likely fuel)</li><li>Output prices rose at a quicker pace, to the fastest since July&

<p> The major US stock indices are opening a lower led by the NASDAQ index. Yesterday, the NASDAQ index fell -0.84% outpacing the declines by the S&amp;P of -0.54% and the Dow industrial average of -0.11%.</p><p>The major indices are up for 5 consecutive weeks, but with declines for the first 2 trading days of the […]

<p>We're waiting for the main data of the day but the equity market is in a sour mood so far with S&amp;P 500 and Nasdaq futures both down 0.4%.</p><p>I think that could change with yields lower across the curve and some data to come but it's all about 10 am ET today with ISM services […]