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Archives by Year:
EUR/USD Posts Modest Gains Near 1.0850 On Stronger PMI, Weaker US Dollar
Image Source: Pixabay EUR/USD trades with mild gains near 1.0850 in Monday’s early Asian session. The stronger US data and the Fed’s hawkish stance might lift the USD and cap the pair’s upside. ECB’s Cipollone said the time is right for June rate cuts as the recent data moved in the right direction. The EUR/USD pair trades in positive territory for the second consecutive day around 1.0850 […]
Hoot Of The Day: Ford Wants Stricter Tailpipe Emissions
Image Source: UnsplashFord (F) has gone to courts, siding with Biden to defend the EPA’s rules on tailpipe emissions.Ford bet on EVs and failed. Its backup plan is to force the rest of the automakers to comply with the EPA’s new rules. The Wall Street Journal calls this Ford’s EV Stockholm Syndrome. “Ford has taken steps to […]
Immigration Helps The U.S. Economic Forecast, Says One Data Set
Different estimates of net foreign immigration. DR. BILL CONERLY USING DATA FROM CONGRESSIONAL BUDGET OFFICE AND CENSUS BUREAUImmigration is saving the United States economy—maybe. Estimates of recent immigration from different government organizations vary widely, but the most plausible story has very high immigration stimulating job growth.The strong performance of the economy in 2023 and so […]
OpenAi’s Deal With News Corp Is A Turning Point
Photo by Steve Johnson on UnsplashEveryone’s falling into line.News Corp is the latest media giant to ink a deal with OpenAI to license its content. Joining Axel Springer, the AP, the Financial Times, Dotdash Meredith, Reddit, and others, News Corp will make its publications — including The Wall Street Journal, The Times of London, and The New York […]
Asia Morning Bites For Monday, May 27
Image Source: Unsplash Global Macro and Markets Global Markets: Friday was a fairly quiet day for US macro data, and that was also reflected in the US Treasury market, where there was no significant movement in either 2Y or 10Y yields. The 10Y Treasury yield is currently 4.465%. The US is out for Memorial Day today. […]
Intel Outside
Image Source: PixabayHow the mighty have fallen. This is truly amazing: Intel (INTC) used to be TWICE as big as Nvidia (NVDA). Now, Nvidia is TWENTY TIMES the size of Intel. The senior management of Intel clearly has no clue what it’s doing.More By This Author:At Last! An NVDA Chart!The Fad That Can’t Defy Rising Interest Rates Forever Slippery Breadth?
Economic Data Forecasts For The Weeks Of May 27 & June 3
Here are my forecasts for upcoming economic data. Forecast Prior Observation May 23 Initial Unemployment Claims 215K 222 Chicago Fed National Activity Index – April 0.15 0.15 PMI Manufacturing Flash Index – May 51.0 50.0 PMI Services Flash 52.3 51.3 […]
Comex Data Continues To Show A Market Under Stress
Image Source: UnsplashThe Comex report for last month correctly identified a potential big move in silver while the same report two months ago preceded a massive up move for the price of gold. The data this month is not as obvious or compelling, but it is clear the stress on the Comex continues to build.The CME Comex is the Exchange […]
USD/CAD Outlook: Policy Outlook Divergence Weakens Loonie
Photo by Michelle Spollen on Unsplash The flash US Composite Output Index jumped from 51.3 to 54.4. Canada’s inflation hit a three-year low of 2.7%. The prospect of higher rates for longer in the US weighed on oil. The USD/CAD outlook points northward as the pair holds near a two-week high on growing policy divergence between the US […]
AUD/USD Gathers Strength Above 0.6630 On Weaker US Dollar
Image Source: Unsplash AUD/USD kicks off the new week on a positive note around 0.6632 on Monday. The US Durable Goods Orders came in better than expected; the UoM Consumer Sentiment Index was above the consensus. The hawkish stance of the RBA might support the Aussie in the near term ahead of Australian key data this week. The AUD/USD pair […]
