Category: Markets
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Sell an October election year seasonal bounce in US dollar: BofA By Investing.com
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Investing.com – Bank of America said in a note on Friday that investors should consider selling the US dollar during a potential rebound next October, driven by historical seasonal patterns and current technical indicators. According to Bank of America, while there may be an initial rise in the price of…
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The calls are mounting for the ECB to cut rates in October and beyond
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Lagarde Barclays issued a note predicting that the ECB will cut the ECB by 25 basis points on October 17. They are behind the curve in that as the market has turned dramatically in the last couple of weeks and now place a 94% chance of a cut. . This…
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Neutral sentiment lifts among retail investors By Investing.com
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Investing.com – Neutral sentiment has risen among retail investors, according to the latest American Association of Individual Investors (AAII) survey. The data reflects a shift in expectations regarding the short-term outlook for stocks, with both bullish and bearish sentiment seeing declines. Neutral sentiment — investors who expect stock prices to…
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Neutral sentiment lifts among retail investors By Investing.com
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Investing.com – Neutral sentiment has risen among retail investors, according to the latest American Association of Individual Investors (AAII) survey. The data reflects a shift in expectations regarding the short-term outlook for stocks, with both bullish and bearish sentiment seeing declines. Neutral sentiment — investors who expect stock prices to…
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US Stock Futures Post Modest Gains After PCE Data: Markets Wrap
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(Bloomberg) — U.S. futures rose slightly after long-awaited economic data highlighted a slowing economy and boosted bets on further interest rate cuts by the Federal Reserve. Most read from Bloomberg Contracts on the S&P 500 rose 0.1% after the underlying index reached its 42nd highest closing level this year. The…
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US dollar slumps after softer inflation, China rate cut. AUD/USD hits 18 month high
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The Australian dollar reached its highest levels since February 2023 as part of a broad sell-off in the US dollar following weak US inflation data and China cutting lending rates. A final break above 0.6900 in AUD/USD breaks the June 2023 high and a series of rallies in this range.…
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Car parts supplier Forvia cuts 2024 outlook again, to speed up job cuts By Reuters
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Written by Nathan Fevlin (Reuters) – French auto parts supplier Forvia cut its annual sales and profit forecasts for the second time in three months on Friday, reflecting weakness in European and North American markets and a delay in China. “We have lost, compared to last year, about 2 million…
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Chart Art: EUR/JPY Reversal Pattern Forming
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Has the EUR/JPY reached the end of its trend? Check out the reversal chart pattern forming on the pair’s 4-hour time frame as the price approaches a test of the neckline! EUR/JPY for 4 hours Chart by TradingView Improving risk appetite and a softer BoJ announcement last week helped lift…
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GBPUSD Technical Analysis – The greenback pressure persists
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Basic overview The US dollar remains under pressure amid aggressive market pricing in interest rate cuts and a better outlook for global growth in the wake of China’s recent massive easing measures. It’s now a battle between global growth, which is fueling risk appetite and weighing on the US currency,…
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Europe’s STOXX 600 off record highs ahead of US data By Reuters
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Written by Pranav Kashyap (Reuters) – European stocks retreated from record highs reached earlier on Friday, as caution prevailed ahead of important US data, although gains in Moncler and luxury goods stocks limited further declines in prices. The European index settled at 526.32 points. The benchmark index hit an all-time…
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Dollar stabilizes after sharp rebound; Fed officials in focus By Investing.com
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Investing.com – The US dollar fell on Thursday, holding on after a sharp rebound overnight ahead of more speeches from key policymakers at the Federal Reserve. At 04:40 EDT (08:40 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, fell 0.1% to 100.565, after…
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Chart Art: S&P 500 Testing Its Rising Wedge Resistance
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US stock indices are recording one record high after another these days! But is it time for a major decline in the S&P 500 soon? Check out the turning points I’m watching on the 4-hour time frame: S&P 500 Index (SPX500) 4 Hours Chart by TradingView The Fed’s easing efforts…
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FX option expiries for 27 September 10am New York cut
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There is only one thing to keep in mind on this day, as explained in broad. This is for the USD/CAD pair at the level of 1.3500. It’s not relevant to the technical level, so it’s not of great importance. But if nothing else, it can just draw the price…
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Intel rejects Arm’s approach for product division, Bloomberg News reports By Reuters
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(Reuters) – Arm Holdings approached Intel (NASDAQ:) about potentially acquiring the company’s products division but was told the business was not for sale, Bloomberg News reported on Thursday. The British chip company has not expressed interest in Intel’s manufacturing operations, the report added, citing a person familiar with the matter.…
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Risk managing the US dollar
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Investing.com – Markets appear to have bought into the ‘soft landing’ narrative following the Fed’s massive interest rate cut, but Bank of America Securities remains a seller of the US dollar for now as the US central bank has room to fall. Following the Fed’s 50 basis point cut, forward…
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Daily Broad Market Recap – September 26, 2024
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Markets got an extra dose of risk appetite thanks to another batch of stimulus measures from China. Meanwhile, the Swiss National Bank (SNB) announced its third consecutive interest rate cut and hinted at more to come. How did your favorite asset classes perform? Titles: Broad market price movement: Dollar Index,…
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European Central Bank speakers on Friday include Lane and Cipollone
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0815 GMT/0415 EST – ECB Chief Economist Philip Lane delivers opening remarks at conference on fiscal policy, financial sector policy and economic growth 0940 GMT / 0540 EST – Keynote speech by ECB Governing Council Member Piero Cipolloni at the 13th “Economics of Payments” conference organized by the Austrian Central…
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Factbox-Over 350,000 Florida customers without power due to approaching Hurricane Helene By Reuters
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(Reuters) – More than 350,000 homes and businesses were without power in Florida on Thursday as Hurricane Helen approached landfall in the state’s Big Bend region, according to data from PowerOutage.us. Hurricane Helen headed toward Florida’s Panhandle, bringing a potentially deadly storm surge to much of the coast. The US…
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Trump wild card for weaker dollar outlook
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Investing.com – The US dollar fell against most major currencies in the wake of the Federal Reserve’s dovish shift, and there are more declines to come, according to Capital Economics, with a Trump win being the likely trump card. With the US currency approaching the bottom of its post-2022 range,…
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Swiss National Bank Cuts Interest Rate to 1.00%
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The Swiss National Bank (SNB) announced a 25 basis point interest rate cut on Thursday 26 September 2024, to 1.00% as was widely expected. This marks the third consecutive interest rate cut by the central bank, which also indicated that further cuts may be necessary in the coming quarters to…