The remarks lean hawkish and add to the case for further Fed tightening, a backdrop that tends to support the dollar and push short-dated Treasury yields higher. Her view that financial conditions…
Coming up soon is Beth Hammack, president and chief executive officer of the Federal Reserve Bank of Cleveland. Earlier this week: Fed’s Hammack: Treasury rates are “modest” by historical standards Fed’s Hammack says…
Snatching victory from the jaws of defeat. The Dow, S&P 500 and Nasdaq Composite closed higher after buyers turned a difficult session for technology shares into a recovery. The Nasdaq 100 could…
Sterling and short-dated gilts are most exposed to Bailey’s remarks, because front-end pricing already assumes a November hike is close to a done deal. If he endorses that view, rate support for…
The euro and short-dated Bunds are most sensitive to any steer from Nagel on December. A clear endorsement of a further hike would firm rate support for the single currency. Any nod…
The price of crude oil futures settled up to dollars and $0.88 or 3.03% at $97.97. The high price for the day extended to $98.32. The low price was at $93.58. Fundamentally,…
US September PPI 6.3% vs 5.3% expected US October Philly Fed business index +20.9 vs +28.4 expected US October Empire Manufacturing index +25.50 vs +10.25 expected US retails sales for September 0.8%…
I hate to break up the party from this nice bounce in equities but when you drill into what’s driving it, there’s a problem. The biggest gainers today are many of the…
The USDCHF moved to a new high yesterday going back to May 2025, but the buyers ran into a key technical target on the daily chart. The 50% midpoint of the move…
Bitcoin fell to a low of $79,694 today, taking the price below a key swing area between $80,106 and $81,183. That area dates back to August 20 and has been an important…
As London/European traders head home, the major European stock indices are closing with mixed results. The UK’s FTSE 100 led the gains, followed by France’s CAC and Germany’s DAX. Spain and Italy…
The USDCAD has been on a rollercoaster rid of the last few days (see chart below). A day after testing its highest level of the year—and its highest since April 2025—the USDCAD…
