There’s No Stopping the Core Bond Sell-off for the Moment
Markets There’s no stopping the core bond sell-off for the moment. UK Gilts remain underperformers with UK money markets betting on aggressive BoE action (4.5% policy rate peak mid-next year). Double digit inflation and the political blame game put BoE...
AUD/JPY Extends Rally, Dollar Turns Softer Again
Dollar turns softer in Asian session today, but stays in familiar range. Traders would likely remain cautious until Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium tomorrow. For now, Aussie and Kiwi are the stronger ones for the...
Nobel prize winner says the U.S. needs a 1950s-style productivity boom
The U.S. needs to return to the kind of economic and productivity growth it saw in mid-20th century to boost public spirits, according to a Nobel Prize-winning economist. “We badly need to get back to economic growth,” Edmund S. Phelps,...
ETHUSD Aims for Recovery as 50-day SMA Caps Decline
ETHUSD (Ethereum) has been experiencing a downside correction after its short-term uptrend failed to cross above the 2,030 region. However, the cryptocurrency found strong support at its 50-day simple moving average (SMA) and is currently attempting to rebound. The momentum...
Dollar Higher in Consolidations, Subdued Pre-Jackson Hole Trading
Dollar is recovering some ground today but stays below yesterday’s high in general, consolidations continue. Overall trading in subdued with major pairs and crosses suck inside yesterday’s range. Kiwi and Aussie are on the softer side while the greenback and...
Jackson Hole Clues to Direct Market Moves
Markets have clearly been anxious in the lead up to Jackson Hole, as investors and traders await the next policy clues out of Fed Chair Powell later this week. The declines in equities and bonds of late suggest that Powell...
Dollar Rally Halted, Yen Picking Up Momentum
Dollar’s rally was choked off by terrible PMI data, in particular services, overnight. But the greenback is trying to regain some footing in Asian session. It’s too early to say that the bullish trend in Dollar has reversed. Traders are...
Stocks making the biggest moves midday: Twitter, Zoom, Palo Alto Networks, Macy’s and more
Source: Nasdaq Check out the companies making headlines in midday trading Tuesday. Zoom Video — Zoom sank 16.5% after missing on revenue estimates for the previous quarter due to a strong dollar. The videoconferencing company also cut its forecast for...
European and US PMIs weaker; EUR/USD remains near parity
With the Jackson Hole Symposium this Thursday and Friday and the Fed stating that it is “data dependent”, the US data matters more at this point. PMIs out of Europe and the US are causing EUR/USD to remain near parity...
GBP/USD: Bears May Pause at 2022 Low on Oversold Conditions
Cable is trading near new multi-month low (1.1717) posted today, keeping firm bearish stance, additionally boosted by terrible UK manufacturing PMI data for August that add to fears the economy is sliding into recession. Bears probed below 2022 low (1.1760)...