Risk trades bounce after US consumer sentiment data

[ad_1] The market is showing high sensitivity to anything touching inflation at the moment. The University of Michigan’s consumer sentiment survey was slightly stronger at 71.2 compared to 71.0 expected but the market may be cheering the improvement in inflation expectations, as the one-year metric fell to 3.3% from 3.4% and the 5-year metric to

Australian Dollar trades lower on Chinese credit concerns, US inflation data

[ad_1] Share: Australian Dollar weakens on fears of a credit crunch in the Chinese property sector. Hawkish commentary from the Governor of the RBA, Philip Lowe, temporarily staunches the bleeding.  US factory gate inflation comes out higher than expected, however, supporting the US Dollar.  The Australian Dollar (AUD) trades lower against the US

MULN stock trades around $1 level after 1-for-9 reverse stock split

[ad_1] Share: Mullen Automotive initiated a 1-for-9 reverse split that begins trading at new post-split price on August 11.  MULN share price closed at $0.1130 on Thursday but opens Friday at post-split price. Mullen stock needs to remain above $1 for at least 10 consecutive trading sessions to remain in compliance with NASDAQ

USDJPY trades to a new session high

[ad_1] The USDJPY opened up near its 200-hour moving average at 141.70 and did break below that moving average level and the 38.2% retracement of the move up from the July 28 low at 141.656. However, momentum cannot be sustained on the price of bounce back higher. The pair is currently trading at 142.02. There

NASDAQ gives up gains and trades down on the day

[ad_1] The NASDAQ index has now turned into negative territory. The NASDAQ index was up as much as 143.62 points. It is now trading down -5.16 points (traded down -18.68 at the lows). The S&P index has also moved into negative territory after giving up a gain of 28.34 points. The low took the price

US equities run but risk trades doesn’t flow to FX

[ad_1] The Nasdaq is up 1.4% as Treasury yields retreat and the market sorts through the post-BOJ wreckage. The strength in stocks demonstrates that there is a mountain of cash on the sidelines looking for a dip to buy. That kind of stock market performance would usually come with at least some strength from commodity