Subdued ahead of FOMC With the result of the FOMC meeting looming this evening, and a more positive outlook for the restoration of Saudi Arabia’s production facility, it was a relatively subdued Asian morning today. US indices were lower at the margin, with losses of between 0.09% and 0.13% while currencies oscillated in tight ranges.
USD/PHP, USD/SGD, USD/MYR, USD/INR Talking Points US Dollar consolidating versus Philippine Peso and Indian Rupee Singapore Dollar may depreciate if USD/SGD rising support holds Did the Malaysian Ringgit experience a false breakout versus USD? Trade all the major global economic data live as it populates in the economic calendar and follow live coverage for key
Messaging app LINE has officially launched a cryptocurrency exchange service to its 80 million users based in Japan, days after the platform received final regulatory approval. The Shinjuku-based messaging provider, which is 73.36-percent owned by South Korea’s Naver, said in a statement on Tuesday that the new exchange, dubbed Bitmax, is now live with trading of
Simon Dawson | Bloomberg | Getty Images Saudi oil production will be fully back online by the end of September, the kingdom’s Energy Minister Prince Abdulaziz bin Salman told media during a press conference in Jeddah on Tuesday, sending oil prices down by nearly 6% just a day after their biggest jump in history. The
Reuters reports fresh comments from the National Development and Reform Commission (NDRC), China’s state planner, with the key headlines noted below. Faces certain pressure in stabilizing employment due to China-US trade frictions and increasing downward pressure on the economy. Approved 68.9 billion yuan ($9.72 billion) of fixed-asset investment projects in August.
Both AUD and NZD have dribbled lower during the Asian morning. Of course, both had decent overnight sessions, up in Europe and into US time. The fall we have had during Asia is approx. a 50% retrace. Apart from what has been posted already there is no further news nor data to add. Lower as
Daily Markets Broadcast 2019-09-18 Wall Street steady on Saudi optimism US indices recovered early losses to finish marginally higher yesterday. Saudi Arabia said it had recouped about 50% of lost production and expects to be back to pre-attack levels by the end of the month. That’s an earlier time-frame than many had feared. The Federal
Nasdaq stocks lead the charge The major US indices are trading to new session highs with the Nasdaq leading the way. There is about 15 minutes left in trading. The snap shot is showin: S&P index +6.72 points or 0.22% at 3004.69 NASDAQ index up 27.7 points or 0.34% at 8181.13 Dow industrial average up
Facebook CEO Mark Zuckerberg. (Photo by Justin Sullivan/Getty Images) Getty Images Nobody ever waxed rich owning an electric utility. You wanna own them only when their cash yield is competitive with Treasuries, secure, likely to ratchet up 3% or 4% per annum. Then, fall back to sleep. Consolation is good relative performance in a bear
Kudlow says the two will have a bilateral meeting September 25 Earlier Mr. K said looking for a deal to be signed at UNGA …. and I didn’t say what UNGA was … United Nations General Assembly, which in progress today and into next week (through to Sep 30 I think). I posted yesterday on the
NZD/USD stays in the positive territory, supported partly by upbeat GDT Price Index. Recovery in the market’s risk sentiment also favors commodity-linked currencies. NZ Current Account, trade/political headlines can offer intermediate direction ahead of the Fed’s decision. With the receding pessimism concerning Saudi Arabia’s oil production joining upbeat economic calendar and trade headlines, NZD/USD remains
The Fed is expected to deliver a second consecutive rate cut in what is still technically considered Powell’s mid-cycle adjustment. The big question for market participants is whether the Fed will commit to more cuts. The bond market is still screaming for more cuts to come, with the yield on 10-year Treasuries still well below
An employee wears an orange Home Depot Inc. apron at a store in New York. Mark Kauzlarich | Bloomberg | Getty Images Home Depot‘s massive investment plan is preventing margin expansion, according to Guggenheim. The firm downgraded the home improvement retailer’s stock to neutral and removed its $230 price target. “We find it difficult to
Pres. Trump: Does not think release of SPR is necessary Coming Up! Title text for next article Pres. Trump speaking to reporters does not think release of strategic petroleum reserves is necessary oil prices have not gone up that much he is pair to do release of oil reserves, but does not think we needed China started
Bitcoin Price & Emerging Markets FX Correlations Overview: Per the Emerging Markets Crisis Monitor, external debt-to-GDP ratios, implied FX volatility, and bond risk premia are some of the key factors that traders need to keep an eye on when looking for potential trade opportunities in EM FX. The Turkish Lira (via USDTRY) has the most
Previewing the South African Reserve Bank’s (SARB) policy meeting on September 19, TD Securities analysts that they expect the bank to cut the policy rate by 25 basis points to 6.25% as opposed to the market expectation for a hold. Key quotes “We think there’s an overall 59% chance of this scenario occurring, against a fairly
Oil futures dropped sharply on Tuesday, after registering one of the sharpest rallies on record a day earlier, following a report that output from Saudi Arabia will be quick to recover from weekend attacks on major crude facilities which disabled more than half of the kingdom’s daily crude production level. The Saudis are close to
The 100 day moving average and retracement level looms up toward the 1.2500 level. The GBPUSD is moving to new session high after its 100 hour MA and 50% retracement on the hourly chart, stalled the falll at the session lows. Holding that support has given buyers more confidence to take the price back higher.