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Archives by Year:
Throwing Gold BRICS At Broken Windows
Image Source: PexelsTHROWING GOLD BRICSThe latest salvo fired at the U.S. dollar by BRICS countries includes press reports about “creating an international precious metals exchange to ensure fair pricing and trade growth”. Russia’s finance minister, Anton Siluanov, announced that Russia is currently in talks with other BRICS members about such an exchange.Previously, for several years, we […]
USD/JPY Weakens Below 152.00, US NFP Data In Focus
Image Source: Pixabay USD/JPY edges lower to 151.95 in Friday’s Asian session. The BoJ leaves the door open for a near-term rate hike. Investors await the US NFP data, which is due later on Friday. The USD/JPY pair softens to around 151.95 during the Asian trading hours on Friday. The Japanese Yen (JPY) edges higher after Bank of […]
Instantaneous Inflation: PCE, Market Based PCE, HICP, CPI, And Chained CPI
Image Source: PexelsWith PCE deflators released today:Figure 1: Instantaneous inflation (T=12, a=4) for CPI (blue), chained CPI (dark red), PCE deflator (bold black), PCE market based deflator (scarlet), and HICP (green), per Eeckhout (2023). tan salmon horizontal line at 2% target for PCE deflator. Corresponding CPI target is 2.45%. Chained CPI and HICP seasonally adjusted by author using […]
Asia Morning Bites For Friday, Nov 1
Image Source: Unsplash Global Macro and Markets Global Markets: Outside of the UK, bond yields did not see much change yesterday. US 2Y yields were down 1.2bp to 4.17%, and the 10Y yield was down 1.6bp to 4.28%. Yields in the Eurozone were little changed, with German and French 10Y yields both down 0.1bp to 2.38% […]
Markets Slide Into Red On Halloween; Plus AAPL, AMZN, INTC Report
Image Source: UnsplashWe thought it was safe to call today’s trading session in the pre-market hours “un-spooky” for Halloween. This was based on calm PCE data for September, lower-than-expected jobless claims and Q3 earnings reports that were mostly better than expected.So what happened? Our best guess is re-pricing, based on what we know from the economy […]
This Failed Breakout Could Trigger A Massive Squeeze
Image Source: Pexels Another great day today – let’s keep it going! Emini and Nasdaq are rotating inside a large, multi-day range…“Failed Breakouts” are best in these situations, and this one could trigger a massive short squeeze!Emini and Nasdaq have been wild lately, right?But step back and look wider – you’ll see this is nothing […]
Three Things – Early Weekend Reading
Image Source: Pexels 1) The SMCI Debacle SMCI has been one of the darlings of the AI boom over the last few years. But earlier this week they announced some, um, accounting “irregularities”. Not great. Now, I don’t know the specifics of the troubles there, but one thing I highlighted earlier this year was the strange addition of […]
EUR/USD Extends Upside Above 1.0850, With All Eyes On US NFP Data
Image Source: Pixabay EUR/USD edges higher to 1.0885 in Friday’s early Asian session. US inflation increased slightly in September and moved closer to the Fed’s target. ECB policymakers expect a temporary increase in inflation later this year. The EUR/USD pair extends the rally to 1.0885 during the early Asian session on Friday. The uptick of the major […]
Stocks Shatter Rising Wedge Uptrend Ahead Of The Unpredictable Job Report
Image Source: UnsplashStocks finished the day lower as technology stocks took a hit following Microsoft (MSFT) and Meta’s (META) results. Amazon (AMZN) and Apple (AAPL) report results tonight, and whether those will help much tomorrow is unclear. AWS revenue was in line, while Apple offered relatively weak guidance for next quarter’s sales.Tomorrow, we also get the jobs […]
Gold Dives From Record High As US Data Dazzles Ahead Of US NFP
Image Source: Pixabay Gold dips from all-time high amid strong US jobs data and steady core inflation. Investors remain risk-averse ahead of November 5 US election, polls show a narrow race between Trump and Harris. Nonfarm Payrolls and Fed’s upcoming rate decision keep traders cautious. Gold price retreated from all-time high on Thursday as traders failed to […]
