Category: June
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Daily Broad Market Recap – June 26, 2024
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Dollar dominance was the name of the game, as risk-off sentiment lifted the safe-haven currency across the board while dragging commodities south. However, stronger than expected inflation data gave the Australian dollar a fighting chance. Read on to see how the rest of the major currencies and asset classes fare!…
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Scotia thinks the June BoC cut was a policy mistake
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The Bank of Canada’s preferred core inflation measures, such as the trimmed average and weighted average CPI, rose in May, indicating a re-acceleration of core inflationary pressures. Inflation of basic services, including shelter costs, remains very high. Shelter inflation is growing, as rents continue to rise and other drivers of…
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Scotia thinks the June BoC cut was a policy mistake
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The Bank of Canada’s preferred core inflation measures, such as the trimmed average and weighted average CPI, rose in May, indicating a re-acceleration of core inflationary pressures. Inflation of basic services, including shelter costs, remains very high. Shelter inflation is growing, as rents continue to rise and other drivers of…
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Daily Broad Market Recap – June 25, 2024
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Asset classes appeared to still be marching to the beat of their own drum on Tuesday, as stocks rebounded while commodities were in the red. What moves the markets these days? Titles: BOJ core CPI in May y/y: 2.1% (1.9% expected, 1.8% previous) FOMC official Bowman: We have not yet…
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CDK dealer software unlikely to be restored before June end, memo says By Reuters
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Written by Nora Eckert and Nathan Gomez (Reuters) – CDK Global (NASDAQ:) does not expect to restore the ongoing outage caused by a cyber attack in its dealer management software, which is used by dealers across the United States, before the end of the month, according to a memo seen…
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Lantronix to Demo Percepxion Edge AI Solution Prototype at Qualcomm AI Workshop on June 25, 2024 By Investing.com
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Lantronics (NASDAQ:) will preview Percepxion’s seamless integration with the Qualcomm (NASDAQ:) AI Hub IRVINE, Calif., June 25, 2024 (GLOBE NEWSWIRE) — Lantronix Inc. announced… (NASDAQ: LTRX), a global leader in computing, connectivity and IoT solutions, today announced that it will demonstrate the seamless integration of the Percepxion™ Edge AI Solution…
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Daily Broad Market Recap – June 24, 2024
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Market correlations appear to be stalling so far this week, as commodities rose while stocks and Bitcoin fell. What’s up with that? How did the rest of the asset classes perform? Titles: New Zealand trade balance for May It went from a deficit of 3 million New Zealand dollars to…
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Week Ahead in FX (June 24 – 28): The Fed’s Preferred Inflation Measure & Global Inflation Updates
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Traders await a relatively less busy economic calendar with inflation updates from Japan, Canada and Australia taking the spotlight. Meanwhile, the US core PCE price index, the final GDP reading, and speeches from several FOMC members could encourage volatility between major dollar pairs. Before all that, ICYMI, I wrote a…
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Premium Forex Watch Recaps: June 17 – 18, 2024
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Our Forex strategists discussed the settings regarding the monetary policy statement from the Reserve Bank of Australia, and the latest inflation updates from the UK. Of the four scenario/price forecast discussions this week, Only one discussion saw both financial and technical arguments raised To become a potential candidate for a…
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Weekly Market Outlook (24-28 June)
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Upcoming events: MondaySummary of the views of the Bank of Japan and the German IFO. Tuesday: Canadian Consumer Price Index, US Consumer Confidence. Wednesday: Australia’s monthly consumer price index. Thursday: Japanese Retail Sales, US Durable Goods Orders, US Final Q1 GDP, US Unemployment Claims. Friday: Tokyo CPI, UK Final Q1…
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Top 10 AI Cryptos to Watch in June by This Important Metric
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Turkish lire; Dr NEAR Protocol, The Graph, and Oasis Network top the 10 AI cryptocurrencies with the most development activity over the past 30 days. Recent developments, such as the “super-intelligence alliance” between Fetch.ai, SingularityNET, and Ocean Protocol, have led to significant rises in some AI-related currencies. Here are the…
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Kickstart the FX trading day for June 21 w/a technical look at the EURUSD, USDJPY & GBPUSD
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In the June 21 kickoff video, I look at the three major currency pairs from a technical perspective and explain what the bias is, what the risks are, and what the objectives are for each. EURUSD corrected higher to test a 61.8% retracement of the up move from the April…
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The Most Important Crypto News This Week (June 15-22)
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This week has been very exciting in terms of developments in the cryptocurrency industry. Below, we take a look at some of the most important cryptocurrency news of the past seven days. Let’s dig deeper. Top cryptocurrency news this week The list is arranged chronologically, starting June 15. Cryptocurrency investments…
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US June S&P Global flash services PMI 55.1 vs 53.7
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Highest level in 26 months The previous one was 54.8 Manufacturing 51.7 vs. 51.0 expected Previous manufacturing was 51.3 Composite 54.6 vs 54.5 Sale prices are “at one of their lowest levels in the past four years” and their lowest level in five months “Business confidence improves for next year,…
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SNB Surprised Markets with Another 0.25% Rate Cut in June Decision
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Contrary to consensus expectations of no policy change, the Swiss National Bank (SNB) delivered another surprise interest rate cut of 25 basis points in this week’s announcement. This follows a 0.25% interest rate cut in March, which was also mostly unexpected. In its June statement, the Swiss National Bank also…
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BOE Kept Interest Rates Unchanged in June, Says August Decision Is A ‘Live’ One
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As expected, the Bank of England (BOE) kept interest rates steady at 5.25% in a 7-2 vote of the Monetary Policy Committee last June. In its official statement, the Bank of England acknowledged that annual inflation fell to 2% in May, but also noted that the consumer price index is…
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Daily Broad Market Recap – June 20, 2024
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Market attention was focused on two major announcements from the central bank, one of which included a surprise interest rate cut. How did the rest of the asset classes perform? Titles: The People’s Bank of China kept interest rates on key one-year and five-year loans unchanged By 3.45% and 3.95%,…
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Daily Broad Market Recap – June 19, 2024
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With US traders off on holiday and traders remaining on the sidelines ahead of this week’s closely watched economic events, major assets were trading in lower ranges. What are the headlines that caught traders’ attention in the past trading sessions? Titles: Bank of Japan meeting minutes “Some members” indicated that…
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Public Pilot Of Iran’s Central Bank Digital Currency In June
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The Central Bank of Iran (CBI) is set to take a significant step towards modernizing the domestic payments infrastructure with a public trial launch of the Central Bank Digital Currency (CBDC), known as the digital rial. This step aims to enhance the efficiency and flexibility of the Iranian payment system,…
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Daily Broad Market Recap – June 18, 2024
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Weaker than expected retail activity in the US raised concerns about growth and weighed on the US dollar. So why did US stocks expand their gains? Here are the headlines you need to know if you missed yesterday’s trading! Titles: Reserve Bank of Australia keeps interest rates at 4.35% He…