investingLive Americas FX news wrap 28 Aug
Fed’s Warsh: Numbers on price stability are ‘more concerning’ Univ of Michigan final sentiment index for August 51.7 vs 51.0 estimate Fed’s Hammack: It’s time to act with rate hikes, waiting will…
Author: Forexlive Latest News
US stocks don’t like the rate hike tilt. Close lower on the day.
Fed Chair Warsh’s speech at Jackson Hole tilted the Fed tightening bias in the favor of a hike in September and the potential for another hike by the end of the year. The…
German unemployment rises a little less than expected in August
Germany August unemployment change 4k vs 5k expected Prior 6k Germany August unemployment rate 6.4% vs 6.4% expected Prior 6.4% German unemployment rises slightly less than expected in August, bringing the overall…
AUDUSD corrects lower but keeps bullish bias. The 200 hour MA is eyed as a key barometer now
The AUDUSD is correcting lower after this week’s break above the May high, but the pair still has work to do if sellers are going to take greater control. Fundamentally, Australian CPI…
Non-farm payrolls benchmark revisions trimmed employment by 79K jobs
Last year at this time there was some serious hand-wringing about a non-farm payrolls benchmark revision that saw 911K jobs cut from payrolls. For the latest edition, the consensus was +183K jobs…
USDCAD runs up to swing high from last week and the 100 day MA
The USDCAD has extended higher, helped by a stronger US dollar and a sharp rise in US yields following Fed Chair Warsh’s hawkish comments. The US two-year yield is up 11.5 basis…
US stocks reverse and fall to the lows of the day as the hawkish message registers
The S&P 500 is at the lows of the day, down 21 poitns to 7709 in a reversal from the initial Fed reaction. There is a rumor going around that Warsh repeatedly…
USDJPY jumps above its 100 day MA and makes a break for it.
The USDJPY has extended higher, breaking above its 100-day moving average at 159.994 and the natural resistance at 160.00. The high price has reached 160.15 as buyers maintain firm control. The move…
Fed’s Goolsbee: Agrees with Warsh that inflation is Fed’s main issue right now
Agrees with the Fed chair about details of the economy. Agrees that inflation is the Fed’s main issue right now. On inflation it is important to understand what is the nature of…
EURUSD moves to new lows and tests a key cluster of technical levels
The EURUSD has moved sharply lower as the market digests a more hawkish message from Fed Chair Kevin Warsh. The probability of a Fed rate hike has climbed to around 60%, up…
European indices close the day with gains.
As London/European traders had for the exits, the major European indices are closing higher. The gains were led by the France’s CAC which rose by 0.98%. That runs in contrast to that…
Marvell Technology shares are down over 8% after earnings details disappointed
Marvell Technology reported better-than-expected fiscal second-quarter results after Thursday’s close, but the stock moved sharply lower as investors focused on the timing of future revenue from the company’s recently announced Google AI-chip…