It’s unclear what’s happening in the bond market today as US 30-year yields lead the way higher, up 8.5 bps to 4.288%. The front-end is more subdued with 2s flat at 4.85%, though well-above the post-NFP low of 4.76%. Given the dovish data today, it’s tough to explain why bonds are selling off. I wonder
Share: Saudi Arabia expected to extend its 1 million bpd output cut into October. Russia agrees with OPEC to cut exports next month. Positive business activity reports from China improve the oil demand outlook. US unemployment rate rises, wage growth slows, potentially pausing interest rate hikes. Western Texas Intermediate (WTI), the US crude
USDCAD daily Bank of America (BofA) analysts are suggesting that traders consider selling USD rallies, particularly against the Canadian Dollar (CAD), Japanese Yen (JPY), Israeli Shekel (ILS), and Indian Rupee (INR). The team identifies specific technical indicators that suggest a USD correction could be imminent. Key Points: General Outlook: BofA analysts suggest that Tuesday’s USD
Share: Pound Sterling resumes its upside journey as market mood turns upbeat after US job data. UK inflation is highest among G7 economies due to labor shortages and strong wage growth. BoE policymakers warned that interest rates will remain higher for a longer period. The Pound Sterling (GBP) weakens as market sentiment turns bearish and investors
It was a round trip in the DAX as it started soft, recovered and then finished on the floor. On the day: Stoxx 600 flat German DAX +0.6% Francis CAC -0.3% UK’s FTSE 100 +0.4% Spain’s Ibex -0.6% Italy’s FTSE MIB -0.6% On the week: Stoxx 600 +1.5% German DAX +1.3% Francis CAC +0.9% UK’s
Share: The Canadian economy unexpectedly contracted during the second quarter, as indicated by data released on Friday. Analysts at CIBC point out that the decline in consumption is likely to hinder any future interest rate hikes by the Bank of Canada. Key Quotes: Forest fires may be taking a few decimal places off
The Atlanta Fed left its GDP tracker for Q3 unchanged today: After this morning’s releases from the US Census Bureau, the US Bureau of Labor Statistics, and the Institute for Supply Management, an increase in the nowcast of third-quarter real gross private domestic investment growth from 11.8 percent to 12.3 percent was offset by decreases
Bollinger bands are a volatility indicator, used by traders to identify areas of support and resistance and areas in which an asset might be experiencing increased or decreased volatility. Bollinger bands are calculated from three lines drawn onto a price chart. The first is the simple moving average (SMA) of an asset’s price over a
Share: After initially rising to 1.0880, the EUR/USD declines to 1.0785, below the 200-day SMA at 1.0815. Manufacturing PMIs from the US showed better-than-expected results. The US DXY index and Treasury yields significantly recovered following the release. Following the release of a mixed Nonfarm Payrolls report, which saw employment rising higher than expected, wages decelerating
In the dynamic world of online trading, tools that aid in making informed decisions are invaluable. One such tool is the SSL Channel Chart Alert MT4 Indicator. This indicator has gained attention among traders for its ability to provide insights into market trends, helping traders identify potential entry and exit points. In this article, we
